Every article I write about a MJ stock gets posted in full over there, even on moderated boards. Meanwhile, they deleted this comment:
Buxley, you raise a good point about the quality of sales. In my last Seeking Alpha article (https://seekingalpha.com/article/1369511-the-haze-lifts-96-of-medical-marijuana-inc-q4-sales-from-questionable-transaction) I posted a comment regarding what's going on at CANV. They disclosed in mid-April:
"To date, our operations have consisted of selling $1,275,000 of raw Cannabidoil product to third parties, such raw product obtained by us through inventory acquired from PhytoSPHERE Systems, LLC and contracts with various suppliers in Europe." (the date was April 16th and this means that they have not been very successful in making the sales - MJNA booked sales to them, but they must be sitting on inventory)
It's bad enough that MJNA counts worthless CANV stock as "sales" (CANV was worth .05 per share when Mona and his group bought the shares in November - $5 is insane), but this appears to be a shell game. MJNA sells to CANV, and CANV can't sell it. Steve Kubby shared on an interview that the prices for CBD oil are way lower than what is discussed (presumably by MJNA, though he doesn't say that). Great interview (starts at 11 minutes): http://www.youtube.com/watch?v=e6zn6HvoNpw
Anyone in contact with MJNA management should ask what's going on here. Why isn't CANV making the sales? CANV has no real money or assets - it they can't sell the CBD oil, then the stock is worthless. Don't be fooled by CANV trading price - insiders own almost all the stock (it hardly trades any shares either).
By the way, I have said that if MJNA can hit its guidance, the stock is cheap (but not if their guidance is shenanigans like taking worthless stock). I know you guys read headlines and descriptions of what others say I say, but I am just digging into the financials. Many of you have come to understand where I am coming from, and I hope that those who disagree can tell me where I am wrong. I would love to get behind this company, but they need to be more transparent about their financials and their ownership structure (i.e. why HDDC got all those shares and has control).