{"id":5987,"date":"2015-06-18T13:13:10","date_gmt":"2015-06-18T13:13:10","guid":{"rendered":"\/?p=5987"},"modified":"2015-06-18T13:39:26","modified_gmt":"2015-06-18T13:39:26","slug":"maryjane-group-inc-otcmktsmjmj-keeps-sliding","status":"publish","type":"post","link":"\/articles\/maryjane-group-inc-otcmktsmjmj-keeps-sliding\/","title":{"rendered":"MaryJane Group Inc (OTCMKTS:MJMJ) Keeps Sliding"},"content":{"rendered":"\n

Yesterday’s session was more bad news for MaryJane Group Inc (OTCMKTS:MJMJ<\/a>) shareholders. The company’s share price slid in double digits again, with MJMJ<\/a> stopping at $0.003 per share. Yesterday’s 11% drop marks a slide of 70% within the span of five sessions.<\/p>\n

MJMJ<\/a> climbed from the bottom end of double zero land to $0.01 per share within a single session after it dropped its latest press announcement. The company informed the public about the opening of the first ‘cannabis resort’ in the United States – the CannaCamp – a new business venture on the premises of the Wilderness Trail Ranch near Durango, CO.<\/p>\n

We have covered the CannaCamp, its unique features and its intriguing pricing in a number of previous articles. We have also looked at the company’s financial situation and current share structure – the two biggest red flags investors are looking at. MJMJ<\/a> had $325 in cash as of its latest quarterly report. The same 10-Q reported 21 million outstanding common shares as of March 12.<\/p>\n

A Schedule 13G dated June 8 showed that MJMJ<\/a> diluted its common stock all the way up to 126 million OS as of that date. This was already dilution to the tune of 500% within the span of roughly three months. Yesterday a new Schedule 13G cropped up among the company’s filings. This one revealed that the OS had gone up to 185 million common shares by June 12 – a new dilutive bout of an extra 59 million shares or another 46% of dilution, taking place within the mind-boggling span of just FOUR DAYS.<\/p>\n

At this point, it’s a little scary to think how many shares outstanding MJMJ<\/a> may have by today. Investors on discussion boards claim that the company’s transfer agent confirmed 281 million outstanding common MJMJ<\/a> shares as of yesterday but we have not verified this information and can neither confirm nor deny it.<\/p>\n

One thing is certain – MJMJ<\/a> managed to dilute its retail shareholders by a staggering 780% within precisely three months. Whether any amount of CannaCamp hype can make up for that remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday’s session was more bad news for MaryJane Group Inc (OTCMKTS:MJMJ) shareholders. The company’s share price slid in double digits again, with MJMJ stopping at $0.003 per share. Yesterday’s 11% drop marks a slide...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1696],"class_list":["post-5987","post","type-post","status-publish","format-standard","hentry","category-news","tag-mjmj"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=5987"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/5987\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=5987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=5987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=5987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}