Medical Marijuana Inc (MJNA)

[Penny Stock Rookie]

Required to by SEC rules/regulations if they want to uplist seems to be an even more logical response. They could just stay pink and skirt they rules, but I believe they have bigger plans. Some of those changes in A/S happened back in the Perlowin days. They have to get it all cleaned up. I imagine they are going to have to restate all the earnings from the BP days too or just wait it out until 24 audit-able months pass.

Everything they are doing seems to point a central theme: getting their finger in every part of this emerging industry while at the same time protecting MJNA from any federal exposure.

Think about it. They should distance MJNA from Tripp since he is managing director of the manufacturing company that makes Dixie Elixirs etc. Having him on the board is a liability. They also should deny any revenue from the sale of THC products or the Feds could easily shut them down.

Offloading Phytosohere into a new company is also a smart move since they stated they intend to grow hemp based on changes in state law, but which is still federally illegal.

It would not surprise me if their next move was to unload their holdings of CanChew into a separate company so it can make a THC versions when adult use starts in CO and WA.

As far as the CEO, although Ted is MIA and Michelle appears to have been elevated to the position, I believe Llamas is still running things from behind the scenes. The Loomis case is no where near a trial. The status hearing for today was continued until Sept 24. They still have months or years of motions and hearings and pre trial conferences before they ever see the courtroom. Llamas is out on bail and I can only imagine his primary goal right now is to maximize the value of his holdings in MJNA so he has a legal war chest. It is inconceivable that he is not pulling the strings.

The laws under which they are forced to currently operate make it necessary to stay clean, be vague and keep under the radar. The industry is moving forward and MJNA appears to be the leader. All the speculation about wrongdoing and lack of disclosure is keeping the share price low. All the while, I believe they are quietly building a small empire that will only fully emerge when the laws allow.

Of course I could be wrong and the whole thing is just a well conceived scam and I will lose everything, but I am willing to take that bet.