Replies to post #125906 on Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

They need to sell shares to grow

The only way MJNA is getting the funds to grow is to sell shares, and management can't sell any more if they are capped at 950M, which they would have been if the past changes in the share structure had been done correctly and in accordance with securities laws.

Rescinding all of the past actions have allowed the number of AS to be shown as 5B, which now gives the company the ability to issue more shares for acquisition or expansion.

Sure, if everything had been done by the book in the past, they would have had to had a shareholder vote in order to increase the number of Authorized Shares from 950M to say, 1,200M, but now they don't have to do that.

Instead, they will have to have a shareholder vote to lower the AS from 5,000M to 1,250M.

Oh, and they still have to figure out how to handle the effects of undoing the reverse split that has been rescinded on those who were shareholders at the time of the original reverse.

[WhirledBeet]

I think you are missing the point, Michael. Almost all filings that made changes to the share structure since 2008 were deemed null and void by the company on 6/20. Here we are one week later with questions and speculation and that is it. They need to come forward with an explanation of where the share count landed and a plan for moving forward. Period.