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Tuesday, May 24, 2016

MJ Pharmaceuticals Q1 10-Q

I was a little disappointed with this MJ Pharmaceuticals Q1 10-Q. Especially after reading something from Nemus Bioscience. The word cannabis appears three times, and the word marijuana twice. Text direct from the filing is in italics.

The Company under the new ownership intended to serve as an investor in and provider of e-commerce operations to the property management and property rental industries, as well as investor in and provider of e-commerce operations and other services to the marijuana pharmaceutical industry.

But then:

We anticipate we will derive our revenue from two primary sources: the licensing or sale of Medicinal Cannabis Patented Products and Cannabis Laboratory Testing.

The Company commenced limited initial operations in E-commerce Software Solutions on September 1, 2014. In November 2014, the Company suspended these operations. It subsequently determined to serve as investor in and provide of e-commerce operations and other services to the marijuana pharmaceutical industry.

As of March, 2016, the Company commenced the sale and distribution of “pen cartridges” to the medicinal industry. As we obtain licensing for the Medicinal Cannabis Products in various states, our primary source of revenues will be derived from the sale and distribution of “pen cartridges”. During the three months ended March 31, 2016, we had revenue of $8,000 from the first sale of these products.



I have no economic interest in any firm mentioned.

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