Red Dice is a holding company that is 60% owned by MJNA and 40% by Dixie Elixirs. MJNA owns zero percent of Dixie Elixirs. Dixie Elixirs may one day have to pay a royalty to Red Dice, but it doesn't now. MJNA has never publicly disclosed the potential royalty rate.
MJNA has nothing to do with THC. Only CBD. I am not sure why this is so difficult for everyone to grasp, but it's probably because the company has on many occasions perpetuated the incorrect view with its press releases and interviews that have stated that Dixie Elixirs is owned partially by MJNA. I have posted several of these, including most recently the press release from May 2012 that calls it a "portfolio company". This is a blatant misrepresentation.
I posted this old news only in to support another poster's contention that MJNA has misled investors. He was talking about with the financials - the fact that they came out in February with their "1100% revenue gain" for Q4 and then their wildly optimistic guidance for 2013 (and hopes and prayers for 2014) without explaining the one-time nature of those "revnues" and "operating profits".
The good news is that MJNA is on the path of more transparency. Maybe it can succeed as a CBD company. It seems awfully expensive to me, and any investor should be nervous when a company is banging against the authorized share-count, has a history of massive dilution and says that they need to raise funds to grow. Translation: Increased share-count or reverse split.
I have no horse in this race except my reputation. I spend time here because I am fascinated by the foolishness of the investing public when it comes to this stock as the bellwether of the MJ sector (which has a lot worse stories in it than MJNA). I have spent hours and hours studying the company's history and reviewing its financials. I am on the record that I expect the stock to trade to .06 eventually. I got negative when I first looked at it in February and the stock was .34, and I think there is more to go. Things have played out so far like I have expected. I am sharing my honest view, which is negative, but I also have pointed to some positives. I don't agree with some that there is nothing to this company. My view is that it's just wildly overvalued and has been hyped too much (internally and externally). If you like the story, you should be pleased that the company is trying to come clean but also recognize that as the truth comes out, it probably won't be pretty. They have been promising uplisting and full audits for quite some time. To get it, they will have to restate their historicals in my view, even their first audited statement (from Q4).
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