Replies to post #193512 on Medical Marijuana Inc (MJNA)

[Turtledip]

Because DEA is going to reschedule. If they are not just going to leave it as is it will be going up and fro it hard when they announce marijuana will be as is

[Det_Robert_Thorne]

Have you looked at their financials?

The only reason MJNA declared a profit in FY2015 is because of a phony $140M valuation of HempMeds Brazil that gave them $129M in Extraordinary Gains. Otherwise they would have lost about $9M from operations on declining revenues. The 1Q/16 results continued the revenue decline, and also showed losses of $11M.

The industrial hemp company continues to lose money and dilute shareholders, with its only 1Q/15 revenues being the value of shares received for dubious consulting deals with other pink sheet companies. The stock of one of those companies is down 70% in value from when HEMP received the stock in early February, while that of the other is down nearly 50% since that deal was announced in April.

The third cannabis company is diluting at a torrid rate, adding 234M shares between the end of 2015 and March 21, 2016, for a total of 1.8B shares on 3/21. In FY2015, that company lost $18.6M while showing only $44K in revenue. That report was filed six weeks late, and the 1Q/16 10-Q is nearly three weeks late.

None of these companies look very good, IMO.