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Alan Brochstein, CFA
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Alan Brochstein, CFA has worked in the securities industry since 1986, primarily with the responsibility for managing investments in institutional environments until he founded AB Analytical Services in 2007 in order to provide independent research and consulting to registered investment... More
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  • MJNA: Party Is Over 6 comments
    Aug 13, 2013 10:32 AM | about stocks: MJNA

    I will be updating some observations about the MJNA Q2 results. There are two source documents:

    The company's operating results were very weak - less than $1mm in product sales and an operating loss.

    SEC Inquiry

    (click to enlarge)

    CannaVest

    Interestingly, the company reported that CannaVest (OTCQB:CANV) paid them partially in cash on the $8mm installment payment due 6/30. At one point, it was described as "$750K" but in another as "$726,157.00". Note that CANV recently borrowed about $3mm more from its CEO and from presumably Michael Llamas (Roen Ventures). Given that CANV is "trading" so high above the $6 collar, paying cash makes a lot of sense (why sell a stock at 6 when it is trading at >10).

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: MJNA
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Comments (6)
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  • WPSPIKER
    , contributor
    Comments (1156) | Send Message
     
    Alan: did they pay them in $10's & $20's non-sequential bills? :D

     

    Sorry couldn't resist... ;)
    13 Aug 2013, 11:40 AM Reply Like
  • Alan Brochstein, CFA
    , contributor
    Comments (7560) | Send Message
     
    Author’s reply » It was Benjamins from what I heard!
    13 Aug 2013, 12:24 PM Reply Like
  • joelkatz
    , contributor
    Comments (462) | Send Message
     
    Alan, MJNA is partying again, only 1 day after you posted your article
    14 Aug 2013, 02:13 PM Reply Like
  • Alan Brochstein, CFA
    , contributor
    Comments (7560) | Send Message
     
    Author’s reply » Sure it is. It was at .18 when my second article was posted and above .20 when I started getting this up. When it breaks 20, you can break my cajones!
    14 Aug 2013, 02:21 PM Reply Like
  • joelkatz
    , contributor
    Comments (462) | Send Message
     
    Let it break .20, and i'll leave your cajones, haha
    14 Aug 2013, 02:29 PM Reply Like
  • Alan Brochstein, CFA
    , contributor
    Comments (7560) | Send Message
     
    Author’s reply » Note: I published a full article that expanded on this: http://seekingalpha.co...
    14 Aug 2013, 02:41 PM Reply Like
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