MediJane Holdings: The Next Marijuana Penny Stock To Collapse
- FINRA and the S.E.C. Are Cracking Down On Promoted Marijuana Penny Stocks.
- A Licensing Agreement Whereby 26M Shares Were Issued To A Related Party Is Highly Suspicious.
- The Company failed to electronically file their latest 10-Q in time so operational results are completely unknown.
MediJane Prime To Attract Regulator Attention Amid Slew Of Red Flags
- SEC stepping up pace of probe into marijuana stocks. Investors should be concerned about pump campaign financed by undisclosed shareholder(s) holding larger amount of MediJane stock they intend to sell.
- SEC fined a shareholder (owning 15M shares of MJMD) for unregistered stock sales in a shell company he owned that the SEC claimed was part a pump and dump.
- Shareholder who owns 7 million shares was just fined $8 million by FNRA for “anti-money laundering failures” involving $850 million in penny stock transactions.
- Chairman of board is director of company that received 26 million shares of MJMD per an exclusive licensing agreement.
- It appears MJMD omits relationship between itself and a company that the Chairman is a director of that aims to raise capital to fund marijuana investment.
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Thu, Jul. 17, 2:24 PM
Wed, Jul. 16, 9:50 AM
- MediJane Holdings (OTCQB:MJMD +2.6%) signs a securities purchase agreement with Typenex Co-Investment LLC. Under the terms of the agreement, MediJane issues a secured promissory note for $1,105,000 deliverable in 11 tranches. Typenex delivers an initial cash payment of $150,000 and subsequent payments of $85,000. Each tranche will be accompanied by its own secured investor note. All loans will bear an interest rate of 10% per year. The loan is due 23 months after the initial cash purchase is delivered to MediJane.
- MediJane will pay an installment amount equal to $61,388.89 plus interest beginning six months after the initial loan disbursement. The amount can be converted into MJMD stock at the lessor of the predetermined conversion price (unspecified) or 70% of the average of the three lowest closing prices of MJMD stock in the 20-day period preceding the conversion date. Should MediJane decide to prepay the money due, the amount owed will jump to 125% of the outstanding balance.
Mon, Jul. 14, 11:11 AM
- Burlington, Ontario passes a bylaw allowing Enertopia (ENRT +24%) to produce, cultivate and sell medical marijuana under MMPR regulations. The company is currently in a joint (no pun intended) venture with Lexaria to establish a 30,000 sq.ft. production facility with an option for an additional 45,000 sq.ft.
- The municipal approval milestone triggers the issuance of 720K restricted shares of ENRT common stock to certain parties in accordance with previously entered agreements.
- Related tickers: (AFAI +26.7%) (CANA) (CANN -2%) (MJMD +2.8%)
Fri, Jun. 27, 12:00 PM
- MediJane Holdings (MJMD) announces the availability of its MediStrips at the members-only medical marijuana destination GoKush.com. MediStrips are mint-flavored dissolvable oral strips containing THC 25 mg, CBD 2 mg and CBN 2 mg derived from cold ethanol-extracted cannabis oil. The product is used for the treatment of pain and inflammation. Individual strips are priced at $12.50 while a package of seven is available for $87.50.
Thu, May. 29, 5:09 PM
- MediJane Holdings (MJMD -5.6%) distribution partner GoKush places an initial order for 15,000 MediStrips as part of an ongoing product offering. The smokeless cannabis product will be available online at an introductory price of $12.50 and will be shipped directly to individual members' homes.
- The MediStrip Relaxation is a dissolvable oral smokeless cannabis product for licensed medical cannabis patients.
- GoKush is a members-only collective of medical marijuana patients.
Thu, May. 22, 10:16 AM
- According to Florida-based Novus Medical Detox, today's marijuana is much more potent than the varieties available a generation ago. This poses significant health risks to consumers as the wave of legalization gains momentum.
- In a study by the University of Mississippi Potency Monitoring Project, the level of weed's main psychoactive ingredient, THC, has increased from 3.4% in 1993 to ~9% in 2008. In sinsemilla (the flowering tops of unfertilized female plants) THC levels have jumped from 5.8% to 13.4%. The lab has identified THC concentrations as high as 37% in certain pot strains.
- The controversy surrounding the legalization of marijuana will no doubt intensify as the health risks of consuming ever-higher levels of THC in cannabis become more widely known.
- Related tickers: (AFAI) (MDBX) (MJMD) (VAPR) (MJNA) (PLPL) (RFMK) (SKTO) (VMGI) (VAPE) (LATF) (HPNN) (NTRR)
Mon, May. 12, 1:19 PM
Wed, May. 7, 9:01 AM
- Minnesota state senators vote 48-18 in favor of legalizing physician-prescribed medical marijuana. The bill will permit up to 55 dispensing centers around the state although the health commissioner could approve additional sites.
- Patients could legally possess up to 2.5 ounces of pot to be ingested in pills, oils or vaporized just shy of combustion. Smoking weed would still be illegal.
- The bill allows for a research study to assess the effects of medical marijuana in pill or liquid form in patients with severe illnesses.
- The Senate's version differs from the House's version so more work needs to be done before it passes over the Governor's desk.
- (CANV) (CBIS) (GWPH) (MJMD) (NVLX) (RFMK) (SKTO) (VAPE) (NTRR) (MWIP) (MCIG)
MJMD vs. ETF Alternatives
MediJane Holdings Inc ("MJMD") is in the business of distributing transdermal patches, capsules, sublingual sprays and other medical delivery systems for the medical marijuana industry. With sales offices opening in California and Colorado, and then expanding into a national footprint, MediJane... More
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