You raise some great points - the $1 call was silly then and still silly, though less so, now.
The dilution apparently has stopped, though I wonder for how long. Another player in the space did a 10-1 reverse split today. While I don't have any insight regarding plans to do that here, it is uncomfortable having a cap on shares so close to the outstanding share-count. Worse, it's imposed by management, which could just "unimpose" it.
I don't think Q3 was so great - all of the good news and the activity that followed (plus new launches) were late in the quarter or after the quarter. It's time to start looking to 2014 for this stock.
1) Who will be the CEO (I predict a big upside surprise here)?
2) How much will they generate in revenue?
3) Can they monetize their investment in CannaVest (or will they even need to do so)?
Q4 should be breakout in my view in terms of sales, but will it be enough to justify a higher price? Hard to say. I like MJNA for a trade towards $0.20 (.17-.18, maybe higher) and hope that we get some good answers to my questions above plus others that I continue to ask.
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