Replies to post #72320 on North American Cannabis Holdings Inc (USMJ)

[Jmoney_89]

I will state it again...not fluff and worded exactly as everyone says.

"Existing USMJ and PURA management are expected to be included in the ACI management team. ACI, USMJ and PURA plan to finalize the acquisition of USMJ and PURA into ACI by the end of May.
"

[PRmaniac]

actually it is not a buyout. They only have a letter of intent to acquire a "controlling interest", which is likely just a plan to get enough preferred shares to control the voting.

Per USMJ, the preferred shares issued, as of the latest report, are

The Company is authorized to issue 10,000,000 shares
of preferred stock, par value $.001 of which 100,000 shares of preferred stock are issued and outstanding together with the rights, privileges, and preferences which may be set by the Board of Directors without further shareholder approval.

and one person controls the voting with those 100,000 shares right now.


Here is the info from USMJ....
Leonard (Ed) Bollen owns 100,000 Series “D” Voting Control Preferred Shares


So, the conglomerate does not need to buy even 1 common share to own a controlling interest.

Expect a reverse split or a share authorization increase so they can keep dumping (and selling) massively-discounted toxic convertible note shares like they were doing again today.