Marijuana Company of America Inc (MCOA)

[shortorlong]

Interesting MCOA Info from another board. Everybody due your own DD.

Took a very quick look at the MCOA 2Q/16 filing, and a couple of things jumped out at me:
http://bit.ly/2e9l477
1) Though it's a development stage company, the CEO, Don Steinberg, is being paid $180K/year ($15K/mo,) -- though it's probably deferred -- and in the third quarter, $90K of the salary due to him was paid in the form of approximately 82M shares. In fact, the filing shows that Steinberg and two other officers received about 175M new shares, which will show up in the OS when MCOA files its 3Q/16 report.
2) Club Harmoneous looks like a bit of a gimmick to me, but more research is needed
3) Don Steinberg is the same guy who with Bruce Perlowin, formed Club Vivanet and changed the name to Medical Marijuana, Inc, before they eventually sold it to HDDC (owned by Michael Llamas).
4) According to a March 26, 2014 Forbes article, the Don Steinberg who formed Club Vivanet is an ex-con:
"The genesis of CannaVest–and the pot-stock frenzy overall–can be traced to Bruce Perlowin. He knows the business well: He spent nine years in prison for drug smuggling. With another ex-con, Don Steinberg (who also went to jail for drug smuggling), Perlowin started the first publicly traded medical marijuana company in 2009. He got the idea after a CNBC documentary called Marijuana Inc. featured Perlowin’s drug-smuggling past. After it aired Perlowin was bombarded with calls and investment proposals."
"Perlowin and Steinberg already controlled a company that sold debit cards and traded on the Pink Sheets, Club Vivanet. “Is there any sizzle in debit cards?” Perlowin asks FORBES rhetorically. “There was so much sizzle in medical marijuana.” To remove any nuance he renamed his company Medical Marijuana and was issued 40 million shares by the board."
There's a lot of good stuff in this Forbes article:
http://bit.ly/2eHD2d9
If I were you, I would go through their filings with a fine-tooth comb, and I would look to see how they're financing the operation.