Replies to post #13976 on Medican Enterprises Inc (MDCN)

[lumi007]

the biggest holdup/delay for Medican that I see would be because of the nature of their business..unforeseen difficulties and delays are bound to happen...government permits/approvals take a little longer to come by...moreover I believe arranging financing can also be a little challenging as banks can not lend money to marijuana related companies..equity financing at the current pps levels is not easy as well...so given all these challenges it could definitely take longer than expected...the only part that bothers me is investors need to be apprised of such challenges sooner than later...

[beer$$money]

Closings are complicated because it is all about the math. Prorated taxes, prorated insurance, prorated interest. It changes daily? Every time you change a date you change the math, which changes all the legal paperwork. But let me share a personal experience for those of you who have never closed a real estate deal ( which appears to be a lot of you.) Buying a Rental Property using some available Texas Bond money. Bank request Certified Tax Returns from IRS every time. Return came back that I had not reported $778 in income? A contractor that was claiming I owed him $778 filed a 1099 that he paid me $778. IRS said I did not pay taxes on that income. (I found this out at the first closing on this property). Resolution I could pay the tax I didn't owe or I could not use Gov. funds and do some other financing options. Both would take another month! And it did take another month to work out the details (math)? However it is a done deal just took longer than anticipated!