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Medical Marijuana, Inc. Message Board

  • chimakot chimakot May 16, 2013 5:28 PM Flag

    SA is out with another hit piece.

    All investors should call/write investor relations and demand action be taken against the SA shortmachine. It's long overdue. This article is more of the same short attack from Alan the basher.

    Sentiment: Strong Buy

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    • Holy #$%$. Read the whole thing. By Alan's standards, it's as close to balanced as we've seen yet:

      "MJNA could reward investors over the long-term." (!!!)

      Never thought I'd see the day...

    • You're an idiot.


    • I agree and I will contact IR today. Thanks.

    • Post it here so that f'n #$%$ doesn't get any one's money for reading it.

      • 1 Reply to fatstogieman
      • In what can only be described as a two-minute drill, #$%$ Inc. (MJNA.PK) delivered on its promise to get its Q1 OTC filing with audited Q1 results posted by 5/15, as the company had indicated in its 4/30 press release. I am going to give it a double-asterisk: One for the fact that it posted just a few minutes before midnight in California (where the company is based) and another for the fact that it posted incompletely, with the footnote 4 truncated and numbers 5-12 missing.

        Like any report, investors will have different takeaways. The bottom-line from my perspective is that there were many negatives, but I also see some promise in improved transparency. The stock sold off after initially opening a bit higher, but it had run up over the past few days, perhaps due to TD Ameritrade apparently lifting its DTC Chill that prevented its customers previously from being able to buy the stock.

        Because the filing is incomplete and because CannaVEST (CANV.OB) has delayed its 10-Q until May 20th, I will share a preliminary review of the quarter. For some background, the company had given its first-ever guidance in February, indicating that it would generate sales in 2013 of $47mm and operating cash flows of $32mm. In early April, it announced Q1 results of $8.45mm sales and net income of $4.52mm. The press release from today never mentioned sales or earnings, which was quite odd, though it did point to the OTC Market Disclosure. The filing indicated sales of $2.185mm and net income before extraordinary items of just $570K. With extraordinary items of $4.8mm, MJNA reported net income of $5.37mm.

        Before I go on, it's worth elaborating on the extraordinary item, as it represents the second installment of the CannaVEST transaction regarding PhytoSPHERE. MJNA received 1mm shares of CANV as part of the $35mm transaction. This second installment was valued at $6 per share, due to a collar, and MJNA receives 80% (CannaBANK owns the other 20% of PhytoSPHERE). I have disc

        Sentiment: Strong Buy

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