Replies to post #144297 on Medical Marijuana Inc (MJNA)

[Penny Stock Rookie]

Please help me understand something. In order to change the share count, that is the # of authorized shares, they need a majority approval by shareholders. Is that correct?

If that is true and insiders hold the majority, do they have to even ask shareholders? Can't they just call a special meeting, waive notice, vote on a new share count and call it a day?

Really, what is the point in arguing this? Saying that you don't have to call the company because they will assuredly lie is not exactly due diligence. I am going to believe what they said in the last Q and believe that the next Q will shed additional light.

[Art Vandeley]

So then what about the reverse split that was also authorized in the original filling? They rescinded that filling also. So why hasn't the effects of that r/s been corrected?

Because they can't change the results of those fillings that happened, it is too late. Only the fillings are null and void, not the outcomes. So the A/S stays as if those fillings happened and the R/S stays in effect. Can't change what happened three years ago because you found an error in the fillings. It is too late. Now you can keep screaming 5 billion A/S all you want, it just isn't so as confirmed by T/A.

[Art Vandeley]

Under your theory they need to do a foward split then because the reverse split that was also authorized and completed was also rescinded in that filling. Obviously that hasn't happened. So the filing was rescinded but not the results of that filling.

Sorry man, it just don't work that way. What is done is done and it can't be reversed. A/S stayed at 950 million and reverse split happened and has not been reversed by that article of correction as evident by the number of O/S has not incresed nor has the pps reflected a foward split.