Todor Pichurov

Medical Marijuana Inc (OTCMKTS:MJNA) Bumbles Along

by Todor Pichurov March 21, 2016

On Friday Medical Marijuana Inc (OTCMKTS:MJNA, MJNA message board) went through another uninspiring session. By the bell the share price was down 4%, at $0.034 per share. Volume was still well above the month's average, at 8.6 million shares changing hands.

After a crazy PR ride in February, MJNA dialed back on the press hype and went without putting up new announcements for almost three full weeks. Looking at the company's chart, this is not much of a loss because despite the numerous news releases, February was underwhelming in terms of chart performance.

The last PR informed that Kannalife Sciences received DEA clearance to import “high-purity” pharmaceutical-grade CBD into the US. The news had little impact on the market on the day it came out.

MJNA has not published any new official filings since late November. It's understandable that the news releases are the primary driver behind the price movement. However, the company's annual report becomes due in just over one week. Given the timeline of events surrounding MJNA's initiatives in Brazil and Mexico, it's very unlikely that the report will contain any sales figures from products exported and sold in those countries and it's those figures that will eventually make or break things for MJNA in a mid-term time span.

In this sense, the report will be an interesting read but it will probably not contain anything groundbreaking in terms of new sources of revenues. One thing to watch out for is whether MJNA's most valuable asset – Kannaway LLC, which contributed little revenue last quarter and had a negative bottom line of half a million, is now actually performing more in line with its $100 million valuation on MJNA's books.

Comments 4

1. Guest
May 03, 2016, 12:16AM

Quotes Just saw this on twitter!

@LaughinPaulRyan LPR aka Norman Gates aka nmarnier:
https://www (dot) okcupid (dot) com/profile/nmarnier/pictures?cf=profile …) What a PUTZ!

2. Guest
May 02, 2016, 11:06PM

Quotes MJNA is a bagholder stock. Better to go to a casino and put all your money on one number on roulette wheel.

3. Guest
May 02, 2016, 11:01PM

Quotes Alex Klym = MonestHind = KindFinance = @orion_arm.

Doc K = Jerold Kaminsky.

LaughinPaulRyan = Norman Gates

*********Lot's of details in these investigative reports:
https://ansonfundconspiracy.wordpress.com/

********Must read! https://ansonfundconspiracy.wordpress.com/

4. Guest
April 28, 2016, 03:27PM

Quotes Why no article on MJNA's really bad 2015 annual report? Revenues were down 37% from 2014 and they lost a lot of money on an operating basis.

They also issued nearly 1.1B shares in 2015, and the number of OS is now greater than 2.8B.

They wrote down the value of KannaWay by more than $70M, yet claimed that HempMeds Brazil, for which they paid only $16M was worth $140M on the balance sheet, and claimed this game them extraordinary income of $140M.

People are buying the bottom line without understanding the financials.

That's why I think the stock has been up the past few days.

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