Culinary Institute lol...
heres more
I hate Llamas I hope he spends the rest of his life in Prison.
Say What?! HDDC Controls And Sells $1.5mm In Free Trading Shares On Behalf Of MJNA
In what has to be one of the oddest cases of illegal share distribution/underwriting, Medical Marijuana appears to sells its own shares to the public via a conduit (Llamas) without a registration statement. This is blatantly illegal and after speaking to several lawyers we are still unsure as to how the these two got this far without anybody else figuring this out.
Below is an excerpt from the (MJNA) disclosure on the otcmarkets.com website.
(click to enlarge)
Essentially, Mr. Michael Llamas, the 28 year old who controls MJNA, is identified as the main party responsible for providing "working capital." In other words, Llamas is directly financing MJNA. Mr. Michael Llamas does so by liquidating free trading shares of MJNA he was awarded for almost ZERO consideration as part of the RTO. Not all of this information is clearly disclosed as the Company does not elect to do so. However, by reconciling the quarterly paid-in capital amount vs. the common shares outstanding, we strongly believe the weighted average price MJNA has been selling its common shares to Mr. Michael Llamas for less than $0.01/ while retail investors have just months later been clamoring hand over first to purchase the shares at $0.40-0.50.
Apparently Ms. Michelle Sides has a side-deal with Mr. Michael Llamas whereby Llamas holds, and most probably sells, free trading shares of MJNA on behalf of MJNA! As of 12/31/2012 disclosure date, Llamas held $1.5 million worth (or 15 million shares at the time) of MJNA free trading shares on behalf of MJNA, effectively allowing the public company to sell its own shares via a conduit. Craziest of all is that this $1.5mm is reflected on the Company's own balance sheet and "audited" by a non-PCAOB registered "independent auditor," Mr. Anthony Imbimbo.
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