Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

I think I've confirmed it's 5B Authorized Shares

Pretty sure now it's back to 5B authorized shares, as I think I've determined the critical filing.

On Jan 29, 2010, MJNA filed an Articles of Amendment form with the Oregon Secretary of State that included the following statement:

Article 6 -

RESOLVED, that the number of authorized shares be reduced from five (5) billion shares of common stock @ $0.01 par value to a total of three hundred (300) million shares of common stock @ $0.001 par value.

The amendment was adopted on January 22, 2010, and the form indicates (via checkbox) that at the time, they thought that the change only required a vot of the BOD, without shareholder approval.


Last Thursday, June 20, MJNA filed an Article of Correction form, which states that the Amendment filed on Jan 29, 2010 is rescinded and null and void.

After listing the two incorrect articles, which are the quote above and the checking of the box indicating that Shareholder Approval was not required, they state the following reason for the correction:

Both are incorrect statements as shareholder action was required by law to adopt and amendment revers splitting the authorized shares of the Corporation

No filings since that January, 2010 filing show that the company properly changed the number of AS via a shareholder vote.

Therefore the number of Authorized Shares goes back to 5B.

Q.E.D.