Disclosure: Long - Holding - Concerned:
Read this. Digest it. Check it out. Do your DD. If this does not make you concerned and go HMMMMMM ... nothing will.
MJNA issued a press release and a filing containing their 2012 results. Among reiterated 2012 revenue and income figures, the filing details the major actions taken by MJNA during 2012, including subsidiary acquisitions and operational highlights. Some additional details that were missing in the audited Q4 financial report have been explained in greater detail in the filing, such as the announced $35 million deal for the sale of hemp oil inventory produced by PhytoSphere.
The filing revealed that the purchasing party is a certain CannaVEST Corp., an entity currently trading, or rather barely trading, under its old name ticker symbol FCLS or Foreclosure Solutions, Inc., at $5.00 per share. The MJNA filing additionally states that CannaVEST has the right to execute the entire stipulated payment of $35 million in stock, latched at prices ranging from $4.50 to $6.00 per share. It also appears that the first $4.5 million installment declared as already paid was also in shares, with no guarantee that the following payments will be in cash.
CannaVEST looks like it would have a hard time paying in a different way. As of its latest quarterly report for Q3 of 2012 it declared zero revenue since inception in 2010 and $163 in total assets, giving it a very shell-like appearance. Additionally, CannaVEST's one-man-army, Mr. Michael Mona Jr., CEO, sole board member and sole employee of the enterprise, held over 37 million MJNA shares as of last week.
There is some wild speculation on discussion boards that CannaVEST is gearing for an IPO to coincide with its new ticker symbol assignment by the FINRA expected to take place next week. However CannaVEST is trading even now under its old ticker FCLS and so far next week looks like it will bring about nothing but a formal change.
Even long MJNA investors are starting to voice concerns about the developments around the company. The in-house projections for $47 million and $115 million in revenue respectively for 2013 and 2014 did not help much and MJNA could not contain its slide.
Yes true But Cannavest has alot of liabilites which is very dangerous. MJNA did not want these liabilities, It was a good move by MJNA, If Cannavest goes under MJNA will still be a prosperous company. IMO Stay Long!!
Sentiment: Strong Buy
CannaVest is in the business of developing, producing, marketing and selling end consumer products containing the hemp based compounds with a focus on Cannabidiol (CBD). CannaVest seeks to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumer health and wellness benefits as well as in the pharmaceutical industry.
Canv allows MJNA to transfer significant expenses and overhead to Canv. Giving MJNA increase revenue. It allows them to partner on deals and products they would not be in a position to do right now. Increasing sales and profits to MJNA. The 35 mil in hemp oil sold to CANV was in stock and considered an asset. Those numbers are not included in MJNA Q1 numbers since an Asset.
North American Companies LLC North American Acquisitions; Cobalt One LLC; Michael Llamas; Steven Llamas; Michelle Sides, Esq; Peter Woodard; Premier National Private Equity Firm; Invested 30,000 USD, GOT TAKEN FOR A RIDE OF MY LIFE. Scam would be an understatement San Francisco, California
There are two parts that comprise an APO: the reverse merger and the PIPE. In the reverse merger, the private company becomes public by merging with or being acquired by a public “shell” company. The shell company is a public company that has no assets or liabilities. When the private company and public shell merge, the combined entity thereafter trades under the previously private company’s name rather than the shell company’s name as it did before.
You are clueless. Do you know what kind of companies do reverse mergers? Usually shady Chinese companies. Also, if they are trying to do a reverse merger why are they buying shares with a real product, hemp oil, instead of cash? And why are they receiving it in installments?
Also, why is the company going out of their way to talk about 2 years of audited financials to uplist. This is the one of craziest thing I heard on this board and that's saying A LOT.
This isn't information that he pulled off of IHub. It's information that you can get by reading MJNA's 2012 Annual Report, looking at FCLS's information on Yahoo Finance, and reading the FCLS's past financial documents.
I have a pretty good idea why but not sure I should say it. Okay MJNA buys out FCLS and since FCLS is already a $5 stock not on pink sheets. We become one and merge with FCLS. Get ride of all the BS that's following MJNA and the pink sheets. Just be prepared for some HUGE announcements soon!
you have me thinking bkk, what if mjna, does gain 35 million of their share, esentially the entire company, buy them out and boom, they are uplisted instantly. Im not sure if that is legal or normal practice. But Mjna, would actually get all their hemp oil stock back, all of it since canavass hasnt sold any of it. I dont know, im still thinking about this angle. ty, i think