Two months ago tomorrow, we issued a report on Med-Cannabis Pharma, Inc. (MCPI) stating that it was the type of penny stock that was clearly a force to be reckoned with for those who are thinking about finding an entry point when the shares were trading below 0.15. Quietly, we’ve been sitting back, chatting with some members about it, waiting for the day when the shares had reach the level where over 400% gains were achievable on our recommendation to grab shares of MCPI stock. Even though there has been little to no news to come from the Washington State focused, soon-to-be dispensers of medicinal marijuana, the update from last week was more than enough to create enough of a buzz that the OTC world is now on it.
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MCPI Stock Quote
Market Cap: approx. 38.76M
Last: 0.76 ▲ +0.12 (+18.75%)
Dollar Volume: $154,617
14-Day RSI: 81.28%
1st Resistance Point: 0.8617
1st Support Level: 0.6867
52Wk High: 0.825
52Wk Low: 0.0012
When Med-Cannabis Pharma initially hit the radar screens, a) they were still SW China Imports (SWCI) and b) they were due to be controlled heavily by Loe & Associates LLC, run by James Loe, after agreeing to acquires an existing, operating medical cannabis collective (Townsend Herbal Collective) in Washington State. The deal subsequently went south, but James was retained to stay on as a Director and Vice President /COO while the emerging growth stage medicinal marijuana dealers sought other, existing dispensaries that they could acquire.
Mid-July, Med-Cannabis Pharma updates their shareholders publicly about the falling out of the Townsend Herbal Collective and informing them, as well as the public in general through their PR issued July 15, that another deal was due to close later on in the month. Through their subsidiary Cannabis Hemporium, Inc., the Company entered into an LOI to acquire Green Farmacy, LLC located in Tacoma Washington for $40,000 and 500,000 restricted shares of MCPI stock. They let a small cat out of the bag when they stated that they retained Jeremy Jones to further develop dispensaries in the Portland, Oregon area – a hint that Washington State was just the beginning.
The Townsend Herbal Collective deal was supposed to allow for Med-Cannabis Pharma to expand beyond just being a medicinal marijuana dispensary by allowing them to expand so that they could include a grow facility, thus letting the Company grow more of its own product and experiment with different levels of CBD concentration. Even though the deal went south, MCPI barely had even a slight hiccup as it had it’s biggest volume session just a couple days afterwards, almost breaking past the 0.30 mark for a 2nd time.
From their last update, Med-Cannabis Pharma stated that they were talks with groups in New Mexico, Montana and Oregon to lease stores and open Medical Dispensaries in those states. Any updates that can solidify these talks into actual agreements that don’t require more shares to be issued could be a major catalyst to send MCPI stock over the $1 mark. Seeing as how volume has only once broken past 250,000 shares traded since our June 12 report when MCPI was still under 0.15, today’s sudden interest shows that $1 is within arm’s length reach.
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About MCPI Stock
Med-Cannabis Pharma, Inc. is a development stage, Nevada company specializing in medical cannabis sales through its subsidiary, Cannabis Hemporium, with plans to open several medical cannabis stores in various towns on the Olympic Peninsula in the State of Washington during the month of August, 2014.
Click here to view the SEC filings for MCPI.
Click here to view the website for Med-Cannabis Pharma.
Issued and Outstanding: approximately 51,000,000
Last 5 Trading Sessions:
Today simply marks yet another trading session where MCPI continues to be one of the hottest unknown penny stocks focused on medicinal marijuana. As we said in our initial report on MCPI stock, the “force to be reckoned with for those who are thinking about finding an entry point” has been paid-in-full with over 400% gains earlier today for longs and nothing really stopping it from touching $1.
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