SUBJECT: WARNING ABOUT NEW COMPENDIUM CORP. AND MEDICAL MARIJUANA INC.
Regarding the latest corporate reorganization of Medical Marijuana Inc. (ticker MJNA), and Medical Marijuana Inc.'s purported "sale" to New Compendium Corp., little is known about the transaction.
First and foremost, ho are the principal owners of New Compendium Corp.?
The Office of Secretary of State, for the State of Colorado, informs my investigator that no Key Executives data is available for New Compendium Corp. No Board Members data is available. No Executive Committee data is available.
Sounds like New Compendium Corp. is a shell company to me.
In its SEC filings, New Compendium Corp. states that its corporate address is located at 3055 Corona Trail, Suite 304, Boulder, CO 80301
Again, New Compendium Corp. would appear to be yet another shell in the Medical Marijuana Inc. shell game.
New Compendium Corp. gives the above address as its "corporate" address.
But 3055 Corona Trail in Boulder, CO, is not an office building. It is a private residence -- and bank foreclosure at that.
The above-cited address was for a home that was foreclosed and which recently sold for $120,200. It was identified in Colorado Multiple Listing Service as MLS # 613599.
The residence is located in a neighborhood that can be fairly characterized as Boulder's "low rent" district. Specifically, the neighborhood is called Glenwood Grove-North Iris.
The median price of a home in Boulder, CO, based on 297 home sales during the first few months of 2011, was $408,500.
Now, think about what I just wrote. The New Compendium Corp. "corporate" address was a private residence that sold for one quarter of that average home price in Boulder.
Sounds pretty shifty to me.
Another question: Were New Compendium's owners also the owners of the home at 3055 Corona Trail that was foreclosed?
That would make New Compendium's owners homeless, correct?
As a footnote, I hear that Bruce Perlowin is also near-homeless.
Finally, it would also appear that MJNA's only true business purpose is to sell stock.
Pay attention. This is important.
On April 26, 2011, the company filed a Form 144 with the SEC to sell 5,060,490 shares of restricted stock within 90 days.
In retrospect, it can be stated that the founders of MJNA, Bruce Perlowin and Don Steinberg, had as their only real business purpoose to sell their respective shares of insider stock.
Investors know that these two con men did not creat on penny of real return.
In conclusion, it would seem as if history is repeating itself with MJNA's new owners at New Compendium, or, as I contend, Perlowin and Steinberg never truly left the company. These two con men just have a lower profile. And their ownership interest is better concealed.
Again, stay tuned.
And the SEC and the FBI is watching, too, as this latest reorganization of MJNA unfolds.