Medical Marijuana Inc (MJNA)

[Proberto1987]

Q3 opinions

This board should the place to exchange opinions about MJNA but my opinions is that it has been lacking of that for a few years.
I posted something about what could be a governance issue and risks about MJNA perfomances but nobody reacted.


I have some doubts about the real interest of the "Transaction" (see p29 NOTE 12 of the report). In the Timothy R. Scott introduction, it is mentioned that Naturewell is a publicly traded company but I could not find anything about it. I hope it is not a trade to enrich friends. This statement does not give credibility to the transaction (see p30, NOTE 12)

"Although Naturewell’s distribution business activity is not significant, the Company intends to build upon Naturewell’s client base and
sales approach to expand its distribution network for additional product sales"

Also, looking at the list of changes in outstanding shares, Tim Scott would have 1M shares and not 750k as mentioned in the point 7. OFFICERS, DIRECTORS, AND CONTROL PERSONS.
Googling his name, I found this file from Delaware Court dated June 2019 https://courts.delaware.gov/Opinions/Download.aspx?id=291090" rel="nofollow" target="_blank" >https://courts.delaware.gov/Opinions/Download.aspx?id=291090 Reading it, it seems that Tim Director, Titus CEO and Huemoeller (AXIM'S CEO) were playing some " contractual games" against the Llamas family and James Arabia (who owns around 40M MJNA shares, according the Exhibit A) in order to control a company (named Stone Ash) after Michael Llamas's death.
This file also talks about MJNA and how James Arabia could control MJNA stock price and Kettner Investments LLC, formed guess by who? Huemoeller, AXIM's CEO! Moreover, it mentions how Titus takes initiatives and signs documents without thinking on the consequences. Really scarying of CEO.
It is also interesting to see that Mrs Samantha Schroeder has a lot of shares...is she Blake Schroeder'wife, the COO? It the "Reason" column, it is written "Compensation". Again, IMO people networking and conflict of interests.

I am getting more and more worried. I invested in MJNA in 2012 and keep it as a long term investment. I still believe in a rise because it seems that it is doing great on an operational level. However, the governance side is scaring. It seems that all the actors are interconnected. Some don't have a background to be directors of C-levels.
I hope in a NASDAQ uplisting in order to force them to be more transparent and avoid OTC Pink manipulation of the stock price.


Rob

Ps: this post reflects my opinion only. Do not take any position on the stock according it. Due your own due diligence.