Medical Marijuana Inc (MJNA)

[palmspringsbum]

Who has revenue of $40 million/year?

Nobody I know of. Steve DeAngelo's Harborside is the biggest dispensary in the state of California with max revenue of $28 million. The only thing I can think of that might be taking in $40 million would be Paul Stanford's empire:

The Hemp and Cannabis Foundation, founded in 1999, operates offices in nine states. According to its website, it has helped more than 100,000 patients obtain state permits for medical marijuana.

It lost its federal tax-exempt status last year.

http://www.kmtr.com/news/local/story/Broker-of-marijuana-licenses-faces-tax-charges/13oOIOGBBEm9_ySZ0cV_fg.cspx

Stanford says he is transferring assets into a Nevada Company:

"The state said in 2005 that we should transfer to for-profit status because the business is not non-profit. It's still an Oregon non-profit, but I'm in the process of transferring assets into a new for-profit Nevada corporation," Stanford said.

http://www.mjbusinessreport.com/wires/article.cfm?id=oyhuunxhrudtvqr

CannaBank is alleged to be a Delaware company:

Medical Marijuana Inc (PINKSHEETS: MJNA) has completed an agreement with the Hemp Deposit Distribution Corp (HDDC), a Delaware based Co., d/b/a CannaBANK.

http://www.streetinsider.com/Press+Releases/Medical+Marijuana+Inc+Completes+Merger+With+CannaBANK/6385793.html

MJNA is incorporated in Oregon.