Medical Marijuana Inc. shareholder update released April 30, 2013.
EXECUTIVES ARE SELLING THEIR SHARES IN COMPANY:
The statements contained in certain analyst blogs relating to the Company's Chairman/COO liquidating millions of shares is completely inaccurate and again is no more than an attempt to create mistrust in the company's leadership. Yes, I have registered my ability to liquidate 1% of the outstanding shares as required by the SEC. As of this date, I have personally NOT sold any shares. As with any other executive in other industries, shares are routinely provided as part of a person's compensation, which is the case here. I am strictly regulated by securities laws and regulations and take compliance issues very seriously.
I didn't mean that she has no intention of selling ever, but if MJNA did something like what MDBX did last November she would have to have already registered in order to pull the trigger on the sale. Here is why she files this 144 quarterly...it only lasts 3 months.
The Form 144 must be transmitted for filing concurrently with either the placement of a sell order for a brokerage transaction, or the execution of such sale directly with a market maker, as provided in Rule 144(h). The adoption of the plan itself may not be the same as placement of a sell order. The notice on Form 144 is effective for a maximum of three months, so that sales over longer periods will involve multiple requirements of notice under Rule 144(h). [Mar. 25, 2009]
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