North American Cannabis Holdings Inc (USMJ)

[PRmaniac]

No, that 49% of any money they make is needed to pay toxic convertible notes, salaries, consulting fees, advances, and accounts payable. Notes include including the ones in default.

They also owe consulting fees and salaries. Financial condition simply terrible for USMJ.

To make things worse, USMJ has to pay a 3rd party the remaining 51% of any money the company ever makes.

CURRENT LIABILITIES:
Accounts payable – accounting/legal $ 164,118
Accrued consulting fees/salaries 410,000
Total current liabilities 574,118
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 27,000
Convertible promissory note payable #4 200,000
Notes payable – SR 470,000
Purchase Secured Promissory Note #2 200,000
Purchase Unsecured Promissory Note #3 150,000
TOTAL LIABILITIES 2,690,648