What you're saying is so true. For every state that legalizes medical marijuana, that's one more state where RSHO is not even remotely competitive in price.
The recent Time magazine article that you posted a week ago, Pot Kids, makes that abundantly clear:
Now granted, Mirzabegian will probably need to charge $0.06 - $0.07 per milligram to make a profit (that's what the Stanleys are charging in CO, IIRC,) but that one-fifth of the $0.33/mg for RSHO.
Frankly, I don't understand the "love" for a company that both financially performs as poorly quarter after quarter and repeatedly disrespects shareholders the way MJNA does.
Considering Hempmeds falling-out with CannaVest and the fact that KannaWay's comp plans sound more and more desperate, I think there's a real good possibility of a sequential revenue decline in 3Q/14 from 2Q/14, perhaps to $3.4M - $3.7M and another $900K - $1.1M operating loss.
Ad in an increase in outstanding shares to maybe as many as 1.2B, and MJNA would be extremely overvalued at anything over $0.13 (it would still be quite overvalued at $0.11, but logic doesn't seem to work with this stock).