Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Last year, MJNA made same claims about Brazil

In the fall of 2015, MJNA was making the same claims about CBD in Brazil, and yet showed no revenue from it in the 4Q/15 filing that would justify paying $16M in shares while valuing it at $140M.

IOW, the numbers are likely phoney.

These Mexico PRs are designed to allow them to give another big valuation to a very small business in order to make the balance sheet look better.

They did it with Kannaway and HempMeds Brazil in 2015, and they'll do it again with HempMeds Mexico.

Meanwhile, MJNA's revenues fell 37% in FY 2015 to $9.2M, and on an operating basis, the company lost more than $6M (I'm not counting the $16M writedown of shares held as investment.) In addition, MJNA added 1.1B shares to the OS, for a total of nearly 2.9B.

Expect another bad report when MJNA files 1Q/16 in a few weeks.