Replies to post #64574 on Medical Marijuana Inc (MJNA)

[newmedman]

Well if you believe the press releases MJNA secured a two million dollar equity based line with Lotus Capital, whoever they are.....

and if I remember correctly they also claimed a 15 million dollar line, but I'm not quite sure what happened to that.....


although the last time I saw the O/S was above 800 mil..... there's not much room left to the 950 mil A/S with equity credit lines....

Oh I forgot... that's a cash asset....

[Art Vandeley]

Wow, seems as if people don't know how to do basic accounting. It isn't a liability until they actually USE the LOC. Just having a line of credit doesn't count as a debt. Does having a $10,000 limit credit card count as having $10,000 worth of debt if you never use it? NOPE.

FYI Michelle Side got her law degree from Nova Southeastern University.

Also, since when do lawyers do book keeping. I always thought that was accountants.

I think $17 million dollar LOC is sufficient for them to do future mergers and acquisitions.

FYI before you say that is HDDC money...do the DD.