They say when the U.S. cathces a cold, the rest of the world sneezes. It’s looking like the same could be true for marijuana related penny stocks now that MediJane Holdings Inc. (MJMD) has sneezed upwards of 1371% since Friday’s open on the heels of Totally Hemp Crazy Inc. (THCZ) nearly capturing 2000% gains in less than two full months. Without a peep of news from the development stage cannabis corp., the weed craze is selectively back and MJMD stock is proving it.
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MJMD hasn’t made a peep publicly since late September, 2014 when the medical cannabis company focused on the wholesale sales and distribution of smokeless medical cannabis products, is pleased to announce that it has closed an equity investment of $600,000 through the investment banking firm of Moody Capital Solutions, Inc. In February of this year, MediJane Holdings did have two 8K’s filed, one for the resignation of Ronald Luskfrom his position as a director of the Company and the other to disclose that they exercised their borrower offset right under the convertible promissory note dated June 24, 2014 by and between the Company and Typenex Co-Investment, LLC.
Believe it or not, MediJane Holdings is one of the few marijuana stocks that actually has some revenues coming in the door. On March 14, 2014, the Company entered into a License Agreement with Phoenix Bio Pharm where it has granted exclusive rights for North America to exploit all presently owned and after-acquired intellectual property rights and know-how of Phoenix Bio Pharm for certain medical cannabinoid products and delivery systems for the treatment and management of illnesses.
The 10 year licensing deal cost MediJane 26,000,000 shares of MJMD stock, valued at $13,000,000 based on a discounted cash flow model and the fair value of the assets acquired in the license agreement, which allowed them to post revenues for the three and nine months ended November 30, 2014 was $17,936 and $20,716, respectively. Sure, there’s a ton of convertible promissory notes floating the day-to-day expenses of the Company to keep their lights on (although the website seems to be down as of the time of this posting), but be that as it may, there is minimal diluting taking away from the momentum MJMD shares have seen for two consecutive trading sessions.
Fresh on their heals after having had a similar two day explosion, Medican Enterprises, Inc. (MDCN) is looking to retrace some resistance and surpass their HOD, 0.0173, to get back up above 0.02. Cannabiz Mobile, Inc. (LGBI) isn’t too off from seeing it’s shares explode as well as it too is getting greener and greener as the Monday trading session nears a close.
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About MJMD Stock
MediJane Holdings Inc. is a development stage, medical delivery systems company with a pharmaceutical approach to cannabinoid treatment of various illnesses with medical marijuana, currently being launched in Colorado and California.
2011 Ken Pratt Boulevard
Longmont, CO 80501
Phone: (855) 933-3499
Email: [email protected]
Issued and Outstanding: 361,322,812
Last 5 Trading Sessions:
You know, we might as well rename the OTC the WeedTC because if it isn’t a marijuana related penny stock, it pretty much sucks. You can blame Awesome Penny Stocks for it, or you can throw StockTips under the bus together with Mike Statler for how they ripped off traders with their big budget dump alerts. Whatever route you choose, you can’t deny that there is a sick amount of money to be made on the OTC if you get lucky enough to have gotten the right ticker at the right time.
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