Replies to post #120150 on Medical Marijuana Inc (MJNA)

[Alan Brochstein]

It was a bubble...

how did whoever is responsible get the stocks to rise so high?

MJNA was leading the way with the pumping:

SAN DIEGO, Jan. 22, 2013 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), a leading cannabis and hemp industry innovator, today is pleased to pre-announce its fourth quarter earnings. The company earned net income of approximately $3.39 million on gross revenues of $5.10 million for the quarter ended December 31, 2012. This represents a gross revenue increase of over $2.0 million compared to the prior quarter ended Sept 30, 2012. When compared to the same quarter ended December 31, 2011 this represents revenue increase of $4.5 million and over 1,100 percent.

and

Once the Q4 audited financials are filed, The Company plans on having each prior quarter audited in order to obtain a full 24 months of audited financial statements. "The audit process is crucial to our up-listing plans as well as to provide our shareholders confidence in our financial reporting", stated Michelle Sides, Chairman of Medical Marijuana Inc. Ms. Sides went on to say "We are obviously pleased with our Q4 results, but are even more excited about the opportunity for MJNA in this ever growing industry."

The Company also reported that it intends to issue its annual shareholder update for 2012 on February 17, 2013 which will include full year results as of December 31, 2012. Additionally, as part of the report, the Company plans to announce its first ever projections for 2013 and 2014.

Source: MJNA

Then we found out the "1100% increase" was bogus - 96% of the sales were a one-time license fee from a related entity and not in cash...