Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Articles of Correction are a separate issue

The Articles of Correction, which actually go back to 2008 -- rescinding the 2008 filing that announced the 1:20 reverse split -- don't effect the time period for which audited financials are required for an uplist from OTC Pink to OTCQX.

They're going to need the two most recent years of results.

If they were going to try to uplist now, then they would need to file audited financials for 2012 and 2011. Covering 2010 would take them back three years, which would be a waste of resources.

Sure, rescinding all of the faulty changes to the share structure probably needed to be done as they went through the audit process, but it also gives the company the possibility of being able to distribute another 3.9B shares without a vote of the shareholders.

And again, the reason why I don't think they'll audit 2011, but wait to audit 2012 and 2013 is because I think that their 2011 and 2012 financials are so far away from GAAP accounting that the restatements would be major, and horrible for the stock.

Instead, they'll use 2013 to establish proper accounting for for that year, and then the revision of 2012 won't look quite so bad.