My Response to Ashraf SA Article - BANNED
I got the typical nonsense, despite numerous other SA "qualified" replies that were jibberish, profane, and lies. Ashraf and his lapdog troll Alan continue to rehash the same factless assertions about MJNA. These fellas are armchair Woodward and Bersteins "investigating" from the behind a monitor. Neither of them reference any calls with IR at MJNA or discussions with board members. Nor do they even discuss actual products sold by MJNA through Dixie brands.
If they don't have any skin in the game stay off the field.
Content submitted on April 6, 2013, 00:48
On Article Medical Marijuana Isn't Cheap by Ashraf Eassa
Original comment:
Yet another "virtual saint" who has no money on the line but they're just trying to save that one investor from losing money. Oh if I had a penny for every person like Ashraf who told me not to buy AAPL at 28 (14 adjusted for the 2005 split). Eh whatever, I got a few thousand percent gain from AAPL to console me. As for MJNA, I'm at 700% gain after selling a small portion to recoup the initial $15,000 investment. But let me address some of the article's points
1. Unreliable financials.
Says who? You? Or an anonymous pseudonymed Internet blogger named Infawhatever? Are you confident enough about the financials being shady to go so far as to make a real assertion, such as fraud on behalf of management or the accounting firm or will you just continue to make vague, opinion based references? I've heard people make claims that Apple's financials are shady. And QCOMs. And just about every other company in which I have equity. MJNA is just realizing profits and understanding their revenue streams. If you can't point to specific fraud as many reporters did with people like Bernie Madoff or David Einhorn's disclosure of fraud at Lehman, then why do you persist with these assertions?
2. Lack of visibility.
Your comments here not only show your ignorance of economics but the very industry in which MJNA operates. The multiple argument is just ridiculous. Go look at AMZNs multiple in the thousands, absurdly high for an established business that continues to miss revenue forecasts. And the marijuana business is far from "low barrier to entry" market. There are enormous costs to growing the plants, extracting compounds, FDA trials, legal representation....this ain't your grandaddys herb son or his black market. We're not talking about growing a few trees in your backyard or basement and selling it to the local high school punks.
3. Bubble like hysteria. Bud, you ain't seen nothing yet. I sat on Apple for several years before the real bubble hit the stock. First of all, the main product of MJNA is federally illegal! Banks and institutions cannot even commit money to this industry. This is actually still quite a sleeper as you noted in a reply. Except for a few enthusiastic investors like me who are sitting on large gains there are very few people even aware of the booming medical industry, much less publicly traded marijuana companies. Wait until AG Holder eases federal laws and then you're going to see what a bubble really is.
4. Questionable management. Hmmm. Again like point 1, this is YOUR opinion. There are plenty of shady management folks at many Fortune 500 companies. Trust me, I've smoked dope with many of them amongst other questionable activities. Activities, that should they disclosed to the public would be shocking, and if disclosed to the authorities, could be potentially unlawful. Why don't you look into the history of people like David Einhorn or other major players and then tell me how "questionable" this management is? My only question is does the company make money. So far it appears to. Right now I prefer to trust the company opposed to an anonymous blogger who claims to be educating people from losing money. And MJNA would never sue you until you actually write something with substance.
AI
