Replies to post #64569 on Medical Marijuana Inc (MJNA)

[Art Vandeley]

It is a cash asset when the cash is in your bank account.

[Penny Monster 01]

Why would you say this?

but it did occur to me that they might have been forced to.

Please explain

[deafelephant]

Yeah, you noticed that too, eh? The line of credit being claimed as an asset, not as a debt. That made me laugh and wonder where the heck Michelle get her law degree from. I've a big fat question mark about this woman, for she was with Llamas back during the North American Acquistions days, this company was the umbrella corporation that is connected to the mortgage fraud via Cobalt and Perlowin LLC holdings.

What I am thinking though is that if Llamas is sent to prison and his assets are seized, that means no more cash for MJNA's future mergers and acquisitions.

[Det_Robert_Thorne]

Of course they were forced to audit financials!

I was thinking the same thing... I honestly never thought MJNA would get audited, as it is a long and expensive process, but it did occur to me that they might have been forced to.

If you don't audit your financials, then you can't uplist to the OTCBB

If you don't uplist to the OTCBB, you don't gain legitimacy

If you don't gain legitimacy, you can't then eventually uplist to the NASDAQ, NYSE or AMEX

If you don't uplist to the NASDAQ, NYSE or AMEX, you can't get institutional investors.

So of course they are 'forced' to audit.

BTW, every company listed on the AMEX, NASDAQ, NYSE and OTCBB has subjected itself to the "long and expensive process" of an audit.