Followers | 259 |
Posts | 3732 |
Boards Moderated | 0 |
Alias Born | 04/26/2013 |
Wednesday, January 01, 2014 2:43:01 PM
Michelle Sides described the CannaVest transaction as saving $10mm per year (that doesn't appear to be in the ballpark, not based on what has happened subsequently). She also said incorrectly that MJNA would end up with half of CannaVest. This was wrong, hopefully just a lack of understanding and not intentional. It was never possible that MJNA could control CannaVest, as it was only getting 80% of approximately half the company (80% of 7mm shares if the stock stayed at $5).
Since the deal was announced, insiders turned $6mm of debt into potentially 10mm shares (60 cents per share!). The company ran out of cash and is selling up to 10mm shares (at $1!). By my calculation, MJNA will end up with less than 15% of the 34mm shares or so. This is odd, because MJNA usually maintains at least 50% of its subsidiaries.
So, why the heck isn't MJNA buying the remaining 7.25mm shares not yet purchased by insiders and others for just $1???
If you don't like my posts, don't read them. If you think only those who agree with you should post, then start your own message board. My conclusions are my opinion only, based on what I believe to be true. I have no crystal ball.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM