Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Seriously?! Uh, no. MJNA has made it clear.

This thread started when someone asked if MJNA would make revenue from marijuana when it's legal in CO, not about the overall legality of marijuana.

And how are you so certain MJNA will not benefit from Dixie if Dixie is a wholly owned subsidiary if Red Dice, a subsidiary majority owned by MJNA? The Dixie lawsuit may be directly tied to the THC revenue questions.

MJNA itself has answered this question repeatedly. Here is what it said in the Corporate Update of April, 2013:

We have been asked by shareholders if MJNA is involved any marijuana or THC product sales and manufacturing. The company does own through its 60% ownership in Red Dice Holdings, LLC the formulations, brand names and intellectual property of over 70 products containing THC or marijuana from the Dixie brand purchase. However the company does not operate, distribute or sale those products, but has agreed to its use by a state licensed manufacture within Colorado and is in the process of expanding in several other states. Red Dice Holdings and MJNA does not and has not received any revenue from those operations and does not intend to, until and if marijuana is federally legalized. The company does plan on charging a fee for its use when it is in the best interest of the company via its licensing fee. So that it is clear, MJNA does not grow, sell or distribute marijuana under any circumstances as defined by the USCSA. Red Dice Holdings does sell hemp based products through Dixie Botanicals where these products are legalized and controlled.

IOW, while they (MJNA or Red Dice) may be willing to take money from licensing, they won't take revenue from the sale of products containing THC, no matter where in the U.S. those products are sold.

Regarding the lawsuit: It has nothing to do with recognizing revenue from the sale of marijuana, and everything to do with how MJNA did not meet its obligations when Red Dice was formed.

Read the complaint. Courtesy of Alan Brochstein, the PDF of it can be downloaded for free at the following link:

http://ab.typepad.com/the_daily_dab/download.html