Americann Inc (ACAN)

[Mr_Doctor]

This company is trading at a preposterous multiple of book value. The company's assets consist predominately of cash raised in private sales of debt and equity capital at prices deeply discounted to the market price at time of sale. I'm not sure how there is ever going to be revenue or profit to support the market cap or the price of the stock? The other asset this company books is a lease for a pile of dirt. To me it appears management negotiated a lease which is being valued by the market at > 10x the original cost of the pile of dirt.