Replies to post #200931 on Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

Basically, bought the shell for $30K

Here's the relevant paragraph from the 8-K filed on May 23, 2014:

On March 17, 2014, our former majority stockholder and former director the Company, Rosemary Samuels, entered into stock purchase agreements with Sanammad Foundation and Medical Marijuana, Inc. our current majority stockholders. Pursuant to the agreements, Sanammad Foundation and Medical Marijuana, Inc. each acquired 10,000,000 shares of common stock and 500,000 shares of preferred stock for a total purchase price of $30,000. In addition, Sanammad Foundation and Medical Marijuana, Inc. each acquired 4,943,650 shares of common stock from 9 individual shareholders for a total purchase price of $19,800. The 14,943,650 shares of common stock purchased by Sanammad Foundation and Medical Marijuana, Inc. represents approximately 91% of our issued and outstanding common stock and the 1,000,000 shares of preferred stock purchased by Sanammad Foundation and Medical Marijuana, Inc. represents 100% of our issued and outstanding preferred stock. Each holder of preferred stock is entitled to 100 votes per share. There are no arrangements or understandings among members of the former and new control groups and their associates with respect to the elections of directors or other matters.

https://www.sec.gov/Archives/edgar/data/1514946/000138730814000047/form8k03172014.htm

MJNA and Sanammad (Dr. George E. Anastassov and Lekhram Changoer,) gave themselves 14,943,650 shares, which at the time, was 45.5% of the outstanding stock.

With the OS now at 46.8M shares, MJNA owns 31.9% of the company, not the 45% that's still hyped.

I don't know how easy it would be for MJNA to sell its shares, since it's a major shareholder and would have to file to sell, probably via a shelf-offering, though it might be able to sell small quantities.

BTW, AXIM really was a spinoff from MJNA, because Anastassov, Changoer and Van Damme were part of MJNA's advisory board on the CanChew gum. See page 14 of MJNA's 2Q/15 report:

http://www.otcmarkets.com/financialReportViewer?symbol=MJNA&id=143981

Personally, I think that AXIM (and the super low, manipulated float) exists to give MJNA another high-value, over-inflated asset to put on its balance sheet at the end of 2016, so that the Hempmeds Brazil and Kannaway writedowns for 2016 won't look so bad.