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I've been following this POS since day one!
Watched it open at $10, rise to $200 and fall to .62 cents
Only a FOOL would buy into this.......
Michael Llamas, the former president of Medical Marijiuana Inc., stepped down in September 2012 after the U.S. Justice Department announced an indictment against him and several other defendants in connection with an alleged mortgage fraud that caused around $10 million in losses; Llamas has pleaded not guilty and his case is set for trial. Llamas and Stewart Titus funded CANV.
A simple wuestion - Why CANV is so high while others are way too low. What is the catch - I never found out.
Guys explain me please.
Sentiment: Strong Sell
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You familiar with the term "bottom line", oilmasterusa?
Again, you're talking gross profit and gross margin, which are important, but not as important as Net Profit (or Bottom Line).
CANV had nearly $3.4M in expenses, which ate up the Gross Profit, leaving a net loss of $2M.
BTW, Gross Margin, at 56.3%, is down nearly 4% from 1Q/15.
Revenues in 2Q/15 were down 20% from 2Q/14's $3.0M and on a sequential basis, down 11% from 1Q/15's $2.7M. Gross margin of 56.3% was down from the 59.7% reported in 2Q/14 and 1Q/15's 60.1%.
CANV's net loss in 2Q/15 was $2M, or $0.06 per fully diluted share, compared to a net profit of $8M in 2Q/14 ($0.24/FD share), but it should be noted that $7.9M of that 2Q/14 profit was the claimed value of the sale of CANV's interest in KannaLife. On an operating basis, 2Q/14 showed a net profit of $132K.
CANV had a net loss of $0.06/share, or $2M.
You're takling Gross Profit, which is completely different.
Companies are measured on Net Profit, not Gross Profit.
Gross Profit is Revenues minus cost of goods sold, but COGS doesn't include the other costs of running the business. Once you subtract those, you end up with Net Profit, which is what companies are measured on.
In 2Q/15, CANV's Net Loss was $2M, or $0.06/share.
Historical Short Selling Data For CANV
Date - VolShorted - High - Low - Close - ShortVol - RegularVol
Aug 10 - 45.36% - 1.00 - 0.94 1.00 11,952 - 26,350
Aug 07 - 9.71% - 1.07 - 0.94 0.97 2,950 - 30,387
Aug 06 - 54.13% - 1.05 - 0.94 1.04 25,558 - 47,220
Aug 05 - 52.36% - 1.03 - 0.94 1.03 19,424 - 37,096
Aug 04 - 29.57% - 1.03 - 0.85 0.95 22,279 - 75,332
Aug 03 - 28.91% - 1.11 - 1.00 1.01 24,704 - 85,454
Short Sales - Short Interest increased 54% from July 1 - 15
Date - Short Interest - % Change - Avg. Daily Share Volume - Days to Cover
Jul 15, 2015 - 11,186 - 54.91% - 19,692 - 1.00
I hope you shortys get caught in a squeeze!!!
I bet they borrowed there own shares and shorted if they did hold.....best way to make money for them.
The Senate Committee on Appropriations voted 16-14 today in favor of an amendment to the 2016 Financial Services Appropriations Bill that could allow banks to provide services to marijuana retailers in states with adult-use and medical cannabis. The amendment, introduced by Sen. Jeff Merkeley (D-OR) would prohibit the federal government from spending funds to prohibit or penalize financial institutions, “that provide financial services to certain persons in states where marijuana is legal for recreational or medicinal purposes.”
This amendment will now move forward as a part of the larger package in the federal funding bill. Legislation is also moving forward in the House and it is currently unclear whether the marijuana banking reform included in the Senate bill will make it to the President once the two legislative bodies reach a final compromise. Unlike the version that is moving forward in the House, today’s Senate committee vote also proposes to delete a congressional ban on legalizing and regulating recreational sales in Washington, D.C.
Earlier this month, Merkeley joined a group of senators in introducing the Marijuana Business Access to Banking Act, a bill designed to create protections for those offering financial services to those in the cannabis industry.
Currently cannabis businesses operating within state laws have primarily been denied banking services from institutions fearing prosecution under federal law.
“Marijuana businesses in Colorado alone are on pace for nearly $1 billion dollars in revenue this year. Forcing these companies to store that much cash anywhere other than inside banks raises significant public safety concerns,” said Dan Riffle, the director of federal policies for the Marijuana Policy Project. “Current federal laws are putting a bullseye on businesses that are operating legally under state laws, as well as their employees and customers. It’s almost as if some federal officials want to see marijuana businesses get robbed.”