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  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    A few points on your notes, Ron:

    1) $30 million of the equity is the claimed value of the shares CannaVest shares that MJNA holds. The thing is, they have held those at some fixed price the entire past year, and don't use mark-to-market accounting. Had they done so, the 4.66M shares they held on Dec 31, 2013 would have been worth $133M. On March 31, they would have accounted for $177M on the Balance Sheet, but at the end of June, and adjusting for the 400K shares they gave to CannaVest in exchange for CANV's investment in KannaLife (at likely the equivalent of $0.80/share,) the 4.26M shares were worth $55M. Unfortunately, CANV's share price continues to fall, possibly due to selling by some who bought restricted shares for $1 late last year. At today's $10.05 close, the CANV shares were worth $43M. CANV will likely continue lower towards the $1 offering price, and MJNA will continue to lose that equity value.

    2) MJNA is essentially an investment company with only one investment, HempMedsPX paying off (with increasing revenue,) but HempMedsPX is a marketing and distribution company, with no products of its own. Right now, with $3M in sales last quarter, it barely broke even.

    3) The cash on the balance sheet is due to a about $4.4M on new notes that appeared in 1Q, with no explanation as to terms in the report.
    Jul 8 08:08 PM | 1 Like Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    MJNA doesn't file with the SEC, so you have to go to OTCMarkets, as Alan's link shows.
    Jul 8 05:12 PM | Likes Like |Link to Comment
  • Blue Line Protection Group: The Solution To Legal Marijuana Banking Woes [View article]
    I get what you're saying about proxy banking for companies that actually sell marijuana, but if one security company does it, unless it is using some patentable, proprietary method, all security companies wishing to expand their services will quickly copy it.

    With regards to using CannaVest as an example, wouldn't a better, more appropriate Nevada-based company have been Cannabis Sativa, Inc, which on July 1, announced that the former governor of New Mexico, Gary Johnson, as it's new president and CEO?

    Then again, your article could have been in "submission limbo" since Monday, and it was too late to "change horses".

    Regarding CO companies, Blue Line should try to sign-up Tripp Keber's Dixie Elixirs and Edibles, which since it's split from MJNA, is now a "free agent" when it comes to security and banking.

    Now, that would be a "get" that's far bigger than CannaVest.
    Jul 3 01:58 PM | Likes Like |Link to Comment
  • Blue Line Protection Group: The Solution To Legal Marijuana Banking Woes [View article]
    CannaVest's CBD operations are in San Diego, CA. The HQ is in Las Vegas, in a small, single story office building which the company shares with others.

    All of it's products are sold and shipped from locations in CA, specifically, by HempMedsPX, owned by MJNA.

    Also, CannaVest imports industrial hemp paste (or pre-processed hemp in another form) from growers in Europe, though they may begin to have industrial hemp grown in CO.
    Jul 3 09:55 AM | Likes Like |Link to Comment
  • Blue Line Protection Group: The Solution To Legal Marijuana Banking Woes [View article]
    In addition to Alan's point about CannaVest not being a marijuana company, why would CannaVest use Blue Line, when its partner in many of its business ventures, Medical Marijuana, Inc, (OTCPK:MJNA) has it's own security company, MPS International?
    Jul 3 09:40 AM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Wonder if this is a play by MJNA to be involved in products containing THC? As a shareholder, though a major one, rather than a 50% owner of CanChew, they are probably insulating themselves from a federal crackdown if the MedChewRX gum with THC makes it out of the lab.
    May 27 05:02 PM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Thanks, 2XWSOPChamp, but I'm just treating them like more established companies, expecting them to improve their reporting as they get more experience at running the businesses.

    When they don't, like MJNA not holding a shareholder meeting yet to address problems in the share structure that were found a year ago, that raises a red flag with me.

    This article by Alan is a good example of the kind of DD that needs to be done. I didn't know about this AXIM deal until he wrote this article, nor was I following PHOT before the halt.

    Sure, we miss things in these reports, because nobody's perfect, and the execs can tell pretty compelling stories.

    Look at HEMP, for example, which seems to survive only on the reputation of Bruce Perlowin, and his dedication to "the cause", which seems to foster a "suspension of disbelief" in the holders of that stock.
    May 16 03:00 PM | 2 Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Managing,

    I get what you're saying, but I'm talking about the different margins for the different buyers, and how there's no way to estimate what they are right now.

    If MJNA reports a COGS for all the product it sells, then that's probably pretty close to the amount of stuff that CannaVest sold them, so I would expect that CannaVest's 1Q/14 revenue would be somewhat close to MJNA's COGS (the rest would be material in inventory).

    But an online retail customer would pay "full markup", while someone buying RSHO as an ingredient for a product is probably buying in bulk jars (versus syringes) at a much lower price. A KannaWay "company" buy probably has a different markup than a sale to one of KannaWay's members who is going to resell it.

    Over time, we'll see what MJNA's margins are, but right now, there's too much "noise" to make a fair determination.
    May 16 02:08 PM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Until CannaVest develops its own sales team, 100% of sales will likely go though HempMedsPx, even the RSHO that's being sold to third-party manufacturers like LiveWire, so that doesn't surprise me.

    What I think that the large AR could signify -- since CANV expects payment in 30 days -- is that a fair amount of the $2.6M shipped in March, with probably a good portion of that being RSHO that was shipped to the manufacturers of Cannabis Beauty Defined (which didn't ship to KannaWay people until late April,) HempVAP oils and LiveWire (for the KannaKick chews).

    I can "back out" CannaVest sales from MJNA's numbers, but it's harder to extrapolate MJNA's from CANV's, because we don't know how much is being sold to manufacturers, KannaWay or directly to consumers.

    I'm thinking that MJNA could report as much as $3M of Revenue in Q1, but if they're profitable, it will be very small, especially if they properly account for RDH's expenses.

    The thing is, a lot of their revenue is going to be from sales of KannaWay products to the members in order to secure their positions in their "downline", so there's no way to know what, if any, repeat business there will be.

    Still, they keep announcing new products which the members will "buy to try", so that could guarantee them some revenue for awhile, before the members realize that the products are expensive, and that KannaWay as essentially offloaded a lot of their marketing and sales expense onto them.
    May 15 09:39 PM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    MJNA filed for the standard 5-day extension as predicted:

    http://bit.ly/1nTzdAD

    I think it could be more than just the AXIM deal, since MJNA is still on the lower OTC Pink Limited Info Tier despite filing an attorney letter covering FY2013.

    It's possible that the OTC may be cracking down on them for not showing a 2-year stock issuance history, along with improperly showing its Authorized Shares as "Capped by Management" instead of what it says in the Articles of Incorporation.

    There's also one more oddity, and that's how they would describe/deal with the rescission of the reverse split from a few years ago.
    May 15 04:06 PM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Alan,

    AXIM didn't have to file the NT 10-Q until tomorrow (Friday, May 16,) so unless they misunderstood the filing calendar, my guess is that they don't want to file before MJNA does, so that MJNA can explain the deal to its shareholders first.

    Since AXIM had to file its 10-Q by 5:30PM EST to be accepted into the EDGAR system with today's filing date -- and MJNA is not subject to the same restriction at OTC Markets -- at the very least, AXIM must have thought that MJNA would not file today before 5:30PM EST.

    But if that was the case, then they could have simply waited and filed the NT tomorrow AM, and still met the required filing date.

    I also think that the fact that OTC Markets still shows the Yield Sign for MJNA means that they're missing something that the OTC wants to see in their next filing, so they'll delay a bit while they add the required info.
    May 15 11:46 AM | 1 Like Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    Wagonwheel,

    If PHOT wants to get off the grey sheets and back to the OTC QB, they will need to continue to file the expected reports with the SEC, so we should either see a 10-Q today, or an NT 10-Q tomorrow.
    May 15 11:41 AM | Likes Like |Link to Comment
  • Medical Marijuana, Inc. Prepares To Spit Out Canchew Biotechnologies [View article]
    I take this as a sign that MJNA plans to delay as well.
    May 14 03:42 PM | Likes Like |Link to Comment
  • Medical Marijuana, Inc.: Kiss This High Goodbye [View article]
    No, they "represented" CannaVest's CBD Simple 95%+ CBD oil at three High Times shows, and that product won in the Highest CBD category.

    The thing about CBD simple is that it's also got something like 2% - 3% THC because when they concentrate the CBD, they also concentrate whatever THC is in the mix.

    I've also heard that CBD Simple is extremely expensive to produce, far more expensive than the RSHO that CannaVest sells.

    It's my view that CBD Simple is like a concept car at an auto show: technologically interesting and maybe beautiful, but impractical for the street.

    BTW, CBD Simple didn't win in the HT event last month in Denver, and I don't think it was even entered. The winner, as well the others that placed in the "High CBD" category, were commercially available foods that contained CBD. I think they didn't allow "one-off" products like CBD Simple.
    May 8 11:55 AM | Likes Like |Link to Comment
  • Cannabis Stocks: What The Growlife Halt Means For The Industry [View article]
    You can ad CBGI to the list of suspended stocks.

    Ten day suspension came down this morning:

    http://1.usa.gov/RrvWwU
    May 7 11:23 AM | Likes Like |Link to Comment
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