{"id":6190,"date":"2015-07-08T15:11:25","date_gmt":"2015-07-08T15:11:25","guid":{"rendered":"\/?p=6190"},"modified":"2015-07-08T15:39:50","modified_gmt":"2015-07-08T15:39:50","slug":"maryjane-group-inc-otcmktsmjmj-turns-into-a-crying-game","status":"publish","type":"post","link":"\/articles\/maryjane-group-inc-otcmktsmjmj-turns-into-a-crying-game\/","title":{"rendered":"MaryJane Group Inc (OTCMKTS:MJMJ) Turns Into a Crying Game"},"content":{"rendered":"\n

In the words of Neil Finn – don’t dream, it’s over. After announcing its CannaCamp is simply not happening any time soon, despite all the media noise and hype generated around it, yesterday The MaryJane Group Inc (OTCMKTS:MJMJ<\/a>) opened with a massive gap down right out of the gates. By the closing bell, the ticker had 39% slashed off of its market cap.<\/p>\n

The company attempted to soften the blow of having its 2015 CannaCamp venture cancelled and stashed the terrible news in a press release with an optimistic title. Obviously, traders cared a lot less about the new Bud + Breakfast location announced in the release and were a lot more concerned with the fact that CannaCamp is not happening this year.<\/p>\n

MJMJ<\/a> stated that, “sadly”, the company’s land partners “failed to secure” the ranch near Durango which was to host the CannaCamp. This more or less means MJMJ<\/a> announced opening the camp in July and put up a website taking paid reservations throughout June without having inked a final agreement and without having finalized matters regarding the property and the CannaCamp.<\/p>\n

Everyone who booked their stay at the CannaCamp will instead be offered a “complementary” [sic] stay at MJMJ<\/a>‘s Bud+Breakfast locations. The fact that even the most expensive accommodation offered under the Bud+Breakfast program in Hotel San Ayre costs a fraction of the cost the CannaCamp was charging for a single night for two is a matter that is not discussed in the release.<\/p>\n

Just a few days ago, an official company statement came out, claiming that even though the location of the CannaCamp was changing, MJMJ<\/a> was going to “begin accepting reservations immediately”. What changed in less than a week that led to the complete cancellation of CannaCamp 2015 is not too clear but again, such a sudden polar shift in things is pretty embarrassing. The only reason the ticker crawled up from the lower end of double zeroes and hit a penny per share was the announcement of the very same CannaCamp, which is now possibly happening next year, if all goes according to plan.<\/p>\n

The company’s notable achievements in 2015 also include diluting its common stock over 1600% between March and June and then further increasing its authorized shares to 2,000,000,000. MJMJ<\/a> had 21 million outstanding common shares back in early March 2015. Between April and June, MJMJ<\/a> pumped out 350 million new shares, priced at an average of $0.001 apiece. The new authorized share cap gives the company ample space to dilute even more.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the words of Neil Finn – don’t dream, it’s over. After announcing its CannaCamp is simply not happening any time soon, despite all the media noise and hype generated around it, yesterday The...<\/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-6190","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\/6190","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=6190"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6190\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}