North American Cannabis Holdings Inc (USMJ)

[PRmaniac]

Beer - yes 51% of any money USMJ makes goes to a 3rd party, per the latest financials issued by USMJ. Thanks for confirming that this means that that money leaves the company and is not able to be reinvested in the company and is not available to use to pay down USMJ massive debt/toxic convertible notes.

Many investors are not aware that USMJ must pay that, each quarter, to a 3rd party. Common shareholders own an even tinier percentage of the company than they may have thought.

from the latest quarterly report:

• 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.