This is 4% of the total o/s. Next you have MJNA in a growth mode unparelled since the dot.com era to the tune of 1000%+ on a y/y basis with a slew of products flying off the shelf and lot more scheduled for release soon. What better way than doing an IPO on a spin-off and receive the funds needed to finance and grow hemp. Look at all divisions and not a single division partner of MJNA is the majority holder. At this point they will own over 50% of Cannavest after the IPO and have funds to establish the anticipated growth which is absolutely incredible. Obviously by the terms of this agreement no shares will be less than $4.50 or more than $6.00 andagain IMO, the demand for an IPO of 2-3 Mil shares would give them an additional $15 Mil in revenues to buy and grow the hemp. Also within the fine print they are in discussions to secure a hemp production facility within the State of Colorado.
In addition, we are currently in early discussions to secure a hemp oil production facility in the State of Colorado. The State of Colorado Constitutional Amendment 64 (passed November 6, 2012) supports the planting of a hemp crop as early as the spring of 2013. We are also exploring other national and international hemp business opportunities and acquisitions. Major areas of future interest include hemp based textiles, building materials, bio-fuels, paper, bio-plastics, livestock feed/bedding as well as consumer personal care products. There is also a significant market within the pharmaceutical industry for medical-grade hemp and medical cannabis products.
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