MJNA stock: A Marijuana-Scented Penny Stock Scam or the Real Dealer?
Medical marijuana is cheapest cialis a growth sector and Medical Marijuana, Inc. (MJNA) is a hot stock in the legal pot business. It closed today at 6.6 cents with a 127% gain. The company announced a buy viagra generic deal to obtain $4 million in financing from CannaBANK.
MJNA is an interesting penny stock. The company provides business management solutions to the hemp and medical marijuana industries. Marijuana stores, often called dispensaries, can use MJNA for turn-key management solutions and worlds cheapest viagra marijuana testing and grading.
The grading is more involved than having two stoners on a couch deciding how good the marijuana is but, marijuana, even when used for medical purposes, is an illegal drug in the eyes of the federal government. That makes it tough for these companies like MJNA to obtain financing – big banks don’t want to deal with them because they can be accused of online viagra scams money laundering. Medical marijuana businesses that are legal under state laws can find it impossible to open a checking account since banks are regulated under federal laws.
CannaBANK has stepped into that financing as a private equity firm dedicated to the cannabis and hemp industry. The company specializes in the capitalization, development and buy cialis omline acquisition of medicinal cannabis and industrial hemp businesses.
For the fourth quarter, MJNA reported sales of more than $430,000. But because the business has trouble setting up legal bank accounts, it’s tough to tell where the money is going. They reported that they had cash totaling only $24,000 on their balance sheet and cialis pills micronized that means they will need to keep raising money through financing deals.
Terms of the deal with CannaBANK weren’t released. MJNA isn’t current in their SEC filings so there’s no way to really see how profitable they are. There’s just no way to easily evaluate the company. Some medical marijuana businesses that seem legal under state laws are being shut down under federal laws. It’s a viagra online money order save confusing industry.
Penny stock investing is challenging enough without adding confusion about whether or not a company can even legally exist. MJNA traded as high as 23 cents a share in the past 52 weeks and as low as 1 cent…with no real way to analyze the business, traders really can’t figure out what it’s worth.
I’ll keep digging and I’ll let you know if I can figure it all out.
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Don’t ever invest based on what I say, do your own research and consult with a licensed professional before investing, only invest what you are prepared to lose. Any statements and buy viagra ups opinions given are amateur and biased and should be treated as such. Past performance does not indicate future performance in any way. Check the latest SEC filings before investing, and research other information on the risks of investing in penny stocks at www.sec.gov
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