Home > Boards > US OTC > Cannabis > North American Cannabis Holdings Inc. (USMJ)

I know where PR is getting his information,

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weavor   Friday, 05/04/18 09:49:29 AM
Re: None
Post # of 84171 
I know where PR is getting his information, but he is leaving out the other stuff that comes with it.

From within the statement itself:


Series D Preferred Stock
On September 18, 2013, the Company filed a certificate of designation of Series
D Preferred Stock and the Company issued 100,000 shares of Series D preferred
stock to the former shareholders of Algae (See Note 1). Pursuant to the certificate
of designation:
• 100,000 shares were designated as Series D Preferred Stock.
• Holders of the Series D Preferred Stock will be entitled to receive $1.00 per
share of Series D Preferred Stock, prior to any distribution to holders of
common stock, in the event of any liquidation, dissolution or winding up of
the Company.
• Holders of Series D Preferred Stock will be entitled to receive dividends in
the amount of 51% of net income, payable quarterly.
• Holders of Series D Preferred Stock will own 51% of the voting power of
the shareholders of the Company.
The Company may not redeem shares of Series D Preferred Stock without the
written consent of the holders thereof.
On June 05, 2017, ownership of these shares were transferred to ACI
Conglomerated, LLC.



We can find that here
https://backend.otcmarkets.com/otcapi/company/financial-report/188127/content

Basically the 51% goes to ACI which we all knew. Thats what parent companies do. At the most each quarter ACI will get $100,000. Now if we continue to trade at 3/4/5 then they will get the most profit and there will be only a few thousand left for USMJ to profit from themselves. When the shares reached 7/8/9 people got excited and sold driving it back down. Now USMJ did not make a large profit due to this. Mostly because like us ACI is greedy and want quick money.

My suggestion even though we dont make anything now we need to buy at the higher price to drive it up so it can survive until laws change. Then we will be good.

This is just my opinion.

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