Really? I wouldn't want to be long with them at all. They are basically just trying to skim money from people by being a taxation clearing house, no thanks I will pass and have our CFO and an independent CPA doing audits. Much cheaper, and safer, and less risk of important business info from getting shared with competitors. If that is how the company actually is supposed to earn revenue then they won't make much. People are already going to be pissed that they have to pay taxes, why would they want to pay more?
Nah I don't care about their corporate status. Really it doesn't mean shit. What I dislike is their fundraising strategy. It reminds me of many of the dotcoms, banks, ect that have gone belly up and fucked up the economy. You know what we could use some capital too. But instead of selling stock one lucky person will be able to get the last coveted spot on the California Cannabis Inc. board of directors as insurance for a loan which will be paid off at a 30% total interest over a 3 year period. Atleast our company offers real services for real patients.i think a big reason u dislike the company is that it isn't a not-for-profit, which is another ball of wax entirely...
And their company contributes what in terms of a physical product to the economy? Nothing, they as a company are just trying to skim extra money off the top. Fuck that bullshit. Grow, Sell, Smoke we don't need any extra hands in the product line.any credit/debit card company like visa, mastercard or discover engage in very similar business practices...i think the revenue could be very large, they would probably get 1%-3% of the taxes collected and if the MMJ market is as big as everyone say it is then that is a lot of money.
It would not limit liability for the dispensaries as the groups/people that run them are themselves legally responsible for paying their taxes. It's gonna suck when a company that was supposed to pay your taxes for you has a computer error that causes em not to get paid and next thing you know an asshole wearing black tactical gear with DEA written on it carrying machine guns is busting up your place raising hell in your neighborhood. Nah I will pass.a company such as MJNA, if it did have a contract with the state to collect taxes, would limit liabilities for dispensaries...people like yourself wouldn't have to worry about getting audited for paying taxes on medicine sold to people using the MJNA system, all the records would be centralized and the state would just deal with MJNA...
i'm also pretty sure that people won't mind paying taxes if that means they don't have to worry about going to jail...
You know what we could use some capital too. But instead of selling stock one lucky person will be able to get the last coveted spot on the California Cannabis Inc. board of directors as insurance for a loan which will be paid off at a 30% total interest over a 3 year period. Atleast our company offers real services for real patients.
It would not limit liability for the dispensaries as the groups/people that run them are themselves legally responsible for paying their taxes. It's gonna suck when a company that was supposed to pay your taxes for you has a computer error that causes em not to get paid and next thing you know an asshole wearing black tactical gear with DEA written on it carrying machine guns is busting up your place raising hell in your neighborhood. Nah I will pass.
There are plenty of people who mind paying taxes on things that should not be taxed. Tax evasion is a big deal not just with cannabis, but every industry and regardless of a persons socioeconomic status.
the revenue thing is because they have released no earnings or guidance since it became MJNA. i think he bought CVIV because of their existing ACH technology and to expedite the process of becoming a publicly-traded company.
the 10-for-1 split thing was odd, for sure. the float was extremely low prior to the split, like 10M shares, I think that was part of it. also when it split it was trading $2.24, so it started at $0.22 after the split and has since almost tripled. honestly though when i bought the stock pre-split that was part of the attraction, stocks always get bid up after they split.
at this point the stock is certainly not a sure thing and i wouldn't represent it as such. i looked at it as a highly leveraged play with very little downside at the price i paid. When i bought the stock it had a market cap of less than $15M. I figured if the company really made it huge it could be a billion-dollar company (or better) and if not then it goes to zero. that is good risk-reward.
i realize they don't have cash flow yet but if you wait to buy the stock until they start getting flow it will be $15/share. considering i am long from about 10 cents a share I'm pretty sure its going to work out for me. If they come up with a revenue stream and some patents its going to be like an internet stock circa-1998.
if you're such a hater why wait for the stock to get bid up before you go short? why not just sell it down here? i think you and i both know you would prefer being long to being short right now.
Pending Spin Offs
In conjunction with the name change, the company is spinning off two subsidiaries on a share for share basis (pre 10 for 1 forward split) of the shares of Club Vivanet, Inc. (a Florida corporation) and MyNewPedia Corp (a Colorado Corporation). While the company has set April 3, 2009 as the record and effective dates, NASDAQ is responsible for establishing an ex-dividend date and up to that date; shareholders and those that buy and hold till the ex-dividend date will be entitled to the forward split and to receive the spin off shares. The spin off shares will be restricted until the subsidiaries register those shares with the SEC or there is an exemption from registration made available.