On Tuesday, Colorado Gov. John Hickenlooper signed several historic measures to implement marijuana legalization in the state, establishing Colorado as the world's first legal, regulated and taxed marijuana market for adults.
"Recreational marijuana really is new territory," Hickenlooper said at Tuesday's signing. And although the governor has expressed opposition to marijuana legalization in the past, he called today's pot bills "common sense,"
I would be very happy about that situation, except MJNA does not recieve any revenue from D.E. sales in Colorado. They own the licensing for the brand, and theoretically future revenues would come from licensing arrangements in new business in new states. According to the more recent releases from the company and parsing through the financial statements shows that MJNA's relationship with D.E. at the moment is actually losing money right? In theory, future shops such as Massachusetts medical shops would provide revenue for the company but the current arrangement does not contribute any revenue from D.E.
Honestly, that revelation was one of the scarier things I've learned about MJNA in the past month, because I based that relationship with Dixie as a reason the company was a good bet (back in January) even if the cannavest transaction (and the associated "revenue") was not everything it originally appeared.
Personally I've invested too much to bail at this stage on a concept I believe in, I'm just looking for positive signs and good insight which is very hard to come by on this board.
I would appreciate your opinions on my thoughts!
"Only Colorado residents can own or invest in the stores, KDVR reports, and when the first stores open around Jan. 1, 2014, for the first nine months, only existing #$%$ dispensaries will be able apply for the recreational sales license."
"According to The Denver Post, the first recreational marijuana stores to open would only be able to sell the marijuana that they have grown themselves, but come October 2014, that restriction would be lifted so stand-alone growers and retailers could open up for business."
I hate to be a downer, but I came to the boards tonight specifically because I saw this article. I want MJNA to do well as much as the rest of us, but this bill passing got me very excited right before taking the wind out of my sails. Could someone help by explaining what the passage of this bill actually means for MJNA, because as far as I can tell, it specifically pushes out investors and companies outside of colorado, including banning sales of their PRODUCTS until October 2014. At the very best this pushes increases in revenue due to legalization back months and puts the company at a disadvantage when entering the already established local market.
Full article here: http://www.huffingtonpost.com/2013/05/28/hickenlooper-signs-colora_n_3346798.html
Please looking for honest input on the effect of this legislation good or bad.