North American Cannabis Holdings Inc (USMJ)

[PRmaniac]

They need more than 20 billion share authorization, thus the speculation that they will reverse split, yet leave the share auth at 20 billion shares, so they can continue to dilute investors into the ground.
They don't even have enough shares authorized to allow conversion (at steep discounts) of toxic and other convertible notes.

Here is part of the problem - they dumped a bunch of debt to PURA, yet still have massive liabilities.

CURRENT LIABILITIES:
Accounts payable – accounting/legal $ 149,118
Accrued consulting fees/salaries 670,000
Total current liabilities 819,118
Interest – reserve 250,000
Advances payable 100,000
Convertible notes payable 481,153
Convertible notes payable – prior related parties 191,250
Convertible promissory note payable #1 47,127
Convertible promissory note payable #2 77,000
Convertible promissory note payable #4 300,000
Purchase Secured Promissory Note #2 250,000
Purchase Unsecured Promissory Note #3 150,000
TOTAL LIABILITIES 2,665,648