Replies to post #76351 on North American Cannabis Holdings Inc (USMJ)

[PRmaniac]

The Cease trade order (trading ban) on USMJ applies to BC, but is recognized in other provinces as well.
.............
As a result of the implementation of statutory amendments in Alberta, Québec, Nova Scotia and New Brunswick, certain orders issued in other provinces or territories automatically take effect in Alberta, Québec, Nova Scotia and New Brunswick.

With the adoption of MI 11-103, certain CTOs issued by securities regulatory authorities automatically take effect in other jurisdictions.

It remains the obligation of users to conduct the necessary due diligence before trading to determine whether or not a specific trade can be executed. As such, we cannot overstate the importance of understanding the applicable securities legislation and reading all decisions to fully understand their scope.


and

If there are no exceptions applicable to your situation, you have two options:
1.Hold onto your shares in case the CTO is revoked; or
2.Consider claiming a capital loss on your income taxes.

We suggest you contact the Canada Revenue Agency for more information on this second option.

[PRmaniac]

"Reverse split is in best interest of shareholders"

That will be the likely excuse for the USMJ reverse split, despite whether one believes them or not. They also do not have to notify USMJ common shareholders that they are doing a reverse split, because ACI now has complete voting control on all issues. They will surprise investors who will discover their shares are locked due to the reverse split.

Since USMJ is required to give a dividend to a 3rd party each and every quarter they achieve a profit. there isn't much to invest back into the company or pay down their huge debt (in default).
USMJ is required to pay, to a 3rd party, 51% of any profit they make.

Investors may be starting to realize that USMJ doesn't even have enough shares authorized to allow conversion of their notes, including the ones currently in default.

Note that they also owe back-salary and consultant fees of at least $600,000