Seeking Alpha

Medical Marijuana (MJNA.PK -13%) dives after SA contributor Alan Brochstein takes aim at the...

Medical Marijuana (MJNA.PK -13%) dives after SA contributor Alan Brochstein takes aim at the company's financials once more (previous). Brochstein points out $4.5M of MJNA's Q4 sales came from an installment payment related to a $35M deal with CannaVest (CANV.OB) signed at the end of the quarter, and that CannaVest can make deal payments with its (very illiquid) stock. He also observes MJNA's Q4 sales were revised to $4.69M from a prior $5.19M (and before that, $5.1M) in its recently updated annual report.
From other sites
Comments (10)
  • bd4uandu
    , contributor
    Comments (1840) | Send Message
     
    Alan moves markets...
    25 Apr 2013, 02:48 PM Reply Like
  • Sparkt_99
    , contributor
    Comments (693) | Send Message
     
    Go Alan!!
    25 Apr 2013, 04:45 PM Reply Like
  • Stock Market Joe
    , contributor
    Comments (115) | Send Message
     
    Quite a bit of power, a change of $2.4 million... wow.
    25 Apr 2013, 05:10 PM Reply Like
  • Scotty MacNeil
    , contributor
    Comments (8) | Send Message
     
    of all the companies in this group, I maintain this one will survive...The earnings may not be exactly what they stated, but the 4 million plus earnings that ARE in place are uncommon for most micro cap stocks, so I sold today at 19,2 cents a share but I want to get back in again with more shares if it goes down...I really think you have to look out at least 2 years here to see dynamic results on the stock price. If they even do only 4 million in each of the next 3 quarters for the year, it makes it a very good performer for such a small priced stock?
    25 Apr 2013, 08:19 PM Reply Like
  • Sparkt_99
    , contributor
    Comments (693) | Send Message
     
    of all the companies in this group, I maintain this one will survive...
    so I sold today at 19,2 cents a share

     

    way to stick with it
    25 Apr 2013, 08:23 PM Reply Like
  • weedrush
    , contributor
    Comments (4) | Send Message
     
    I bring you a quote from TD Ameritrade:

     

    "By providing innovative products and services related to MMJ, Neutra Corp. plans to follow in the footsteps of other successful public companies, including Cannabis Science, Inc. (pink:CBIS), Medical Marijuana Inc. (pink:MJNA) and Terra Tech Corp. (pink:TRTC), enabling technological advancements in the cultivation and processing of cannabis in approved markets."

     

    TD Ameritrade thinks these are the industry leaders.

     

    Who ya gonna believe?
    26 Apr 2013, 02:32 AM Reply Like
  • sizeman
    , contributor
    Comments (3) | Send Message
     
    Have to go with Alan on this one. Ameritrade doesn't care who the leaders are. They just care about volume, so the companies you just listed are successful in their eyes, but a far cry from actually being successful. I think MJNA is successful at fudging the books to make themselves look a lot better than they are. I like how they take 5 million dollars worth of worthless stock from Cannavest and call it income, but give 47 million shares of their own stock (or 15% of their company) to their R&D department for coming up with cannabinoid based chewing gum and not write that as an expense.

     

    This company has a slim chance of pulling a rabbit out of their hat, but with this kind of book keeping going on, I would bet this magic show will be a bust.
    28 Apr 2013, 08:29 PM Reply Like
  • MrMuffinLovin
    , contributor
    Comments (2) | Send Message
     
    I have to agree with weedrush. TD has a chill on MJNA and it has a higher volume than most of the smaller marijuana stocks. Ameritrade doesn't have a chill on hemp or phot or even grnh which all have much lower volume. I see a large tea cup forming if we can just get some support from or federal government, will be in good shape.
    29 Apr 2013, 01:27 AM Reply Like
  • danicolorado
    , contributor
    Comments (7) | Send Message
     
    The federal government is too busy with other/more important matters then marijuana. But once they realize Colorado and Washington reaping the economic/social/health benefits of marijuana, there should be a strong push to legalize marijuana.

     

    It's incredible to me that it hasn't been legalized yet. I find it funny that alcohol is legal and marijuana isn't. Have you ever heard of someone dying from marijuana overdose? No! They just go to taco bell which further stimulates the economy.
    30 Apr 2013, 12:37 PM Reply Like
  • danicolorado
    , contributor
    Comments (7) | Send Message
     
    The fact of the matter is that marijuana isn't going anywhere, so why not invest in the market leader in the industry? Just because one person says one negative thing doesn't mean anything in the large market.
    30 Apr 2013, 12:36 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector