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Medical Marijuana, Inc. Message Board

  • seetheworldsfuture seetheworldsfuture Oct 17, 2012 2:26 PM Flag


    MJNA Security Details
    Share Structure
    Market Value1 $53,212,496 a/o Oct 16, 2012
    Shares Outstanding 598,565,764 a/o Jun 30, 2012
    Float 248,038,394 a/o Jul 12, 2012
    Authorized Shares 600,000,000 a/o Dec 31, 2011
    Par Value 0.001
    Shareholders of Record 544 a/o Dec 31, 2011
    Security Notes
    Capital Change=shs decreased by 1 for 1000 split Pay date=06/09/2005.
    Capital Change=shs decreased by 1 for 20 split Pay date=08/26/2008.
    Capital Change=shs increased by 10 for 1 split, payable upon surrender.. Pay date=04/28/2009.
    Short Selling Data
    Short Interest 119,411 (240.58%)
    Sep 28, 2012
    Significant Failures to Deliver No
    Transfer Agent(s)
    First American Stock Transfer, Inc.

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    • A little more than half of the outstanding shares are held by Hemp Deposit Corp and are subject to Rule 144 so they cannot be sold at a rate greater that 1% of the outstanding shares per month. That means they cannot dump and we should see continued PPS support.

      Here is the info from the SEC website:

      Rule 144: Selling Restricted and Control Securities

      When you acquire restricted securities or hold control securities, you must find an exemption from the SEC's registration requirements to sell them in the marketplace. Rule 144 allows public resale of restricted and control securities if a number of conditions are met. This overview tells you what you need to know about selling your restricted or control securities. It also describes how to have a restrictive legend removed.

      What Are Restricted and Control Securities?

      Restricted securities are securities acquired in unregistered, private sales from the issuer or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, Regulation D offerings, employee stock benefit plans, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company. Rule 144(a)(3) identifies what sales produce restricted securities.

      Control securities are those held by an affiliate of the issuing company. An affiliate is a person, such as a director or large shareholder, in a relationship of control with the issuer. Control means the power to direct the management and policies of the company in question, whether through the ownership of voting securities, by contract, or otherwise. If you buy securities from a controlling person or "affiliate," you take restricted securities, even if they were not restricted in the affiliate's hands.

      If you acquire restricted securities, you almost always will receive a certificate stamped with a "restricted" legend. The legend indicates that the securities may not be resold in the marketplace unless they are registered with the SEC or are exempt from the registration requirements. The certificates of control securities are usually not stamped with a legend.

      What Are the Conditions of Rule 144?

      If you want to sell your restricted or control securities to the public, you can follow the applicable conditions set forth in Rule 144. The rule is not the exclusive means for selling restricted or control securities, but provides a "safe harbor" exemption to sellers. The rule's five conditions are summarized below:

      Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months. If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for. The holding period only applies to restricted securities. Because securities acquired in the public market are not restricted, there is no holding period for an affiliate who purchases securities of the issuer in the marketplace. But the resale of an affiliate's shares is subject to the other conditions of the rule.
      Additional securities purchased from the issuer do not affect the holding period of previously purchased securities of the same class. If you purchased restricted securities from another non-affiliate, you can tack on that non-affiliate's holding period to your holding period. For gifts made by an affiliate, the holding period begins when the affiliate acquired the securities and not on the date of the gift. In the case of a stock option, such as one an employee receives, the holding period begins as of the date the option is exercised and not the date it is granted.

      Adequate Current Information. There must be adequate current information about the issuer of the securities before the sale can be made. This generally means that the issuer has complied with the periodic reporting requirements of the Exchange Act.
      Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange or quoted on Nasdaq, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.
      Ordinary Brokerage Transactions. If you are an affiliate, the sales must be handled in all respects as routine trading transactions, and brokers may not receive more than a normal commission. Neither the seller nor the broker can solicit orders to buy the securities.
      Filing a Notice of Proposed Sale With the SEC. If you are an affiliate, you must file a notice with the SEC on Form 144 if the sale involves more than 5,000 shares or the aggregate dollar amount is greater than $50,000 in any three-month period. The sale must take place within three months of filing the Form and, if the securities have not been sold, you must file an amended notice.

      Sentiment: Strong Buy

0.0489-0.0003(-0.61%)3:59 PMEST