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51% of USMJ profit goes to a 3rd

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PRmaniac   Wednesday, 05/16/18 10:21:19 AM
Re: None
Post # of 84171 
51% of USMJ profit goes to a 3rd party, not to USMJ or shareholders.

They get 51% of the net profit. This leaves little left for shareholders or to invest back into the company. Pretty good deal, but not for investors. Those preferred shares originally were issued to settle a $100K debt.

Anyone doing simple DD that read the quarterly report would see this. From the last page of their quarterly unaudited financial report.

• Holders of Series D Preferred Stock will be entitled to receive dividends in the amount of 51% of net income, payable quarterly.


Feel free to read my previous posts where I confirmed that 51% of any profit USMJ ever makes goes to the holder of the special preferred (51% voting) shares.


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