MJ Biotech Inc. (fka MJTV)

[Jiminy Cricket]

Easy...........I know how this company operates. Even if there is some new guy CEO trying to push tea. The market knows as well. That's why the market barely took notice, sure it was up alot, but total dollar volume was nothing

MJTV 10q

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION


Various statements in this report contain or may contain forward-looking statements that are subject to known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements were based on various factors and were derived from utilizing numerous assumptions and other factors that could cause our actual results to differ materially from those in the forward-looking statements. These factors include, but are not limited to:

·

our recent exit from shell status, lack of profitable operations and risk we will ever generate revenues or profits,

·

need for additional capital, including our ability to repay $331,643 in notes to non-related parties, all of which if not paid off will convert into common stock over time causing dilution to all shareholders,

And did you see the numbers and debts in there? Yeah, stop ignoring that and asking me stupid questions

September 30, 2017

December 31, 2016

ASSETS



CURRENT ASSETS



Cash

$ - $ 26,767
Accounts Receivable

- 1,000
Total Current Assets

- 27,767



TOTAL ASSETS

$ - $ 27,767



LIABILITIES AND STOCKHOLDERS ’ EQUITY (DEFICIT)



CURRENT LIABILITIES



Accounts payable and accrued expenses

357,101 247,749
Accounts payable – related party

92,007 86,030
Note payable – related party

290 240
Notes Payable – Net of Debt Discount

10,500 -
Convertible notes payable

321,144 173,597
Derivative Liability (net)

593,109 467,491
Total Current Liabilities

1,374,151 975,107



Longterm Liabilities



Convertible notes payable, net

- -
Total longterm liabilities

- -






Total Liabilities

1,374,151 975,107



Commitments and Contingencies

- -



STOCKHOLDERS' EQUITY (DEFICIT)



Preferred stock; $0.0001 par value, 20,000,000 shares authorized, 3,925,000 and 665,000 issued or outstanding respectively, as of September 30, 2017 and December 31, 2016 respectively,

3,326 66
Common stock; $0.0001 par value, 980,000,000 shares authorized, 32,303,283 and 22,315,946 issued and outstanding as of September 30, 2017 and December 31, 2016 respectively,

3,231 2,231
Additional paid-in capital

18,198,717 12,439,406
Accumulated deficit

(19,579,424) (13,389,043)
Total Stockholders' Equity (Deficit)

(1,374,151) (947,340)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

$ - $ 27,767