GrowLife Inc (PHOT)

[Mygolfballs]

The good healthy balance sheet MMJ stocks will continue to grow PPS MJNA and PHOT

http://seekingalpha.com/article/1234841-medical-marijuana-inc-i-m-in-it-for-the-long-haul?source=google_news
Medical Marijuana Inc.: I'm In It For The Long Haul
Feb 28 2013, 14:58 | about: MJNA.PK
Disclosure: I am long MJNA.PK. (More...)

Introduction

Over the past two weeks, a battle has been raging on the forefront of the marijuana industry. Reports have surfaced from every direction claiming companies such as Medical Marijuana Inc. (MJNA.PK) have no value, their products are somehow not real and that audited revenues of over $12 million are just a fallacy.

Three months ended

Mar. 31, 2012

Three months ended

Jun. 30, 2012

Three months ended

Sep. 30, 2012

Three months ended

Dec. 31, 2012

2012 Total

Revenue

$1,788,445

$2,403,624

$3,001,902

$5,193,654

$12,387,625

Assets

$6,356,301

$7,908,677

$8,131,147

$16,384,698

$16,384,698

Debt

$101,778

$156,778

$585,437

$84,800

$84,800

Net Income

$1,208,136

$1,471,596

$1,193,937

$3,233,623

$7,107,292

Above is the audited financial information for 2012 from the annual sharholder report . Now by just glancing at theses financials, one can see that MJNA has been increasing revenue at a exponential rate. Net income nearly doubled from Q3 to Q4. The OTC Markets website reports MJNA to have 800,000,000 shares outstanding. With Net income of $7.1 million, earnings per share currently is .01 cents. EPS can be a fair judge of stocks in the same industry, and it appears MJNA has one of the only positive earnings per share in the marijuana industry. MJNA has a P/E ratio of roughly 30. The price per earnings ratio may seem high, but with the bright forward looking projections given in the annual shareholders report it can be justified.