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.

American Cannabis Co. Q1 10-Q

You'd think all these "cannabis consultants" emerging into the marketplace would be trying to distinguish themselves in the eyes of investors. Below, direct quotes from the filing are in Italics. They're pretty light on details about the business in this American Cannabis Co. Q1 10-Q:

For the three months ended March 31, 2016, five customers individually accounted for $514,824 of the Company’s total revenues; these customers accounted for approximately 95% of the Company’s total revenues for the period. For the three months ended March 31, 2015, three clients individually accounted for 10% or more of the Company’s revenues, and in aggregate, they comprised approximately 79% of the Company’s total revenues for the period.

American Cannabis Company, Inc. was incorporated in the State of Delaware on September 24, 2001 under the name Naturewell, Inc. to develop and market clinical diagnostic products using immunology and molecular biologic technologies.

American Cannabis Company, Inc. and subsidiary company, Hollister & Blacksmith, Inc., doing business as American Cannabis Consulting (“American Cannabis Consulting”), (collectively “the “Company”, “we”, “us”, or “our”) are based in Denver, Colorado and operate a fully-integrated business model that features end-to-end solutions for businesses operating in the regulated cannabis industry in states and countries where cannabis is regulated and/or has been de-criminalized for medical use and/or legalized for recreational use. We provide advisory and consulting services specific to this industry, design industry-specific products and facilities, and manage a strategic group partnership that offers both exclusive and non-exclusive customer products commonly used in the industry. We are a publicly listed company quoted on the OTCQB under the symbol “AMMJ”.

On March 13, 2013, Naturewell, Inc. completed a merger transaction whereby it acquired 100% of the issued and outstanding share capital of Brazil Interactive Media, Inc. (“BIMI”), which operated as a Brazilian interactive television company and television production company through its wholly owned Brazilian subsidiary company, EsoTV Brasil Promoção Publicidade Licenciamento e Comércio Ltda. (“EsoTV”). Naturewell’s Articles of Incorporation were amended to reflect a new name: Brazil Interactive Media, Inc.

On May 15, 2014, BIMI entered into a merger agreement (“the Merger Agreement”) to acquire 100% of the issued and outstanding American Cannabis Consulting while simultaneously disposing of 100% of the issued share capital EsoTV (“the Separation Agreement”). Both the merger with American Cannabis Consulting and disposal of EsoTV were completed on September 29, 2014. BIMI subsequently amended its Articles of Incorporation to change its name to American Cannabis Company, Inc.. On October 10, 2014, American Cannabis Company, Inc changed its stock symbol from BIMI to AMMJ.

I listened to a webcast with the CEO, so I'm pretty familiar with what they are trying to do.  American Cannabis Co. probably goes deeper in the 10-K. Or maybe they provide more on their website, where they aren't communicating directly to federal regulators.

Disclosure: I have no economic interest in any company mentioned in this post.

Jon Stewart - Enhancement Smoker (Half Baked)

Dixies Split

THC or CBD?

Grow Cannabis In Our Warehouses! Part II

On their website they say they are looking into properties in CA, CO, NV, etc.

From Grow Condos Inc. recent 10-Q:

"We are a real estate purchaser, developer and manager of specific use industrial properties providing "Condo" style turn-key grow facilities to support cannabis growers in the United States cannabis industry. We intend to own, lease, sell and manage multi-tenant properties so as to reduce the risk of ownership and reduce costs to the tenants and owners. We will offer tenants the option to lease, lease to purchase or buy their condo warehouse space that is divided into comparable 1,500- 2,500 square foot condominium units. Each Condo unit will be uniquely designed and have all necessary resources as an optimum stand-alone grow facility. We believe that Cannabis farmers will pay an above market rate to lease or buy our condo grow facility. We will purchase and develop buildings that are divisible into separate units to attract multiple farmers and reduce the risk of single tenant leases. In addition to our "Condo" turn-key growing facilities, we intend to provide marijuana grow consulting services and equipment and supplies as part of our turn-key offerings. We are aggressively looking for our next property in the western area of the United States where medical cannabis has been legalized and where recreational cannabis has been or is in the process of legalization. The Company is not directly involved in the growing, distribution or sale of Cannabis."

Disclosure: I have no economic interest in Grow Condos, but would love to have my own customized grow on their property.

Indeed, This Blog Is A Thing

I appreciate the article and the Tweets about SEC Filings on Weed! I wonder how many people who follow SEC filings and compliance news pick-up on the John Stewart/Half Baked movie reference. That's what makes this fun. Absurd, really.

"You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right—and that’s the only thing that makes you right. And if your facts and reasoning are right, you don’t have to worry about anybody else." - Warren Buffett