Except for the disaster over at HempMeds! Didn't see that coming.
See, I give you every seed-bearing plant on all the earth and every tree that has seed-bearing fruit on it to be your food
No earnings press release. Then again, good reason. At least they put something out for damage control.
The receptionist didn't have anyone available and took my info. Got a call back a little bit later but I was not available. Voicemail said I would get an e-mail but nothing has come through as of yet.
If they get court costs under control and successfully defend or settle, MJNA shouldn't have trouble rotating debt. That said, it is impossible to ignore that we've lost $10M of retained earnings since Q1 2014.
It's a struggle to make it positive.
The way this is settling in my brain is HempMeds sales are down over 50% from Q1 2014, and that Kannaway, even with a 42% increase in sales from December 2014 to February 2015 as previously reported by Dr. Titus, was not enough to close the gap.
We need to hear about revenue/sales growth and we need to hear exactly why Kannaway is on the balance sheet at $100M. If it wasn't, total equity would be quite scary for a long avg'd in $0.08-$0.10.
We also need to close out some of these lawsuits. Almost 50% of total 2014 legal expenditures were met in just the Q1 2015. Can we expect those costs to stop growing so fast, or stop altogether, and are some of those costs expected to be recovered?
In the Q1 2014, was Kannaway sales somehow recorded in HempMeds? Struggling to figure out how HempMeds sales are down so very much QoQ