{"id":7090,"date":"2015-10-08T11:02:05","date_gmt":"2015-10-08T11:02:05","guid":{"rendered":"\/?p=7090"},"modified":"2015-10-08T11:14:44","modified_gmt":"2015-10-08T11:14:44","slug":"marilynjean-interactive-inc-otcmktsmjmis-float-shrinks","status":"publish","type":"post","link":"\/articles\/marilynjean-interactive-inc-otcmktsmjmis-float-shrinks\/","title":{"rendered":"Marilynjean Interactive Inc (OTCMKTS:MJMI)’s Float Shrinks"},"content":{"rendered":"\n

Investors are quite excited about Marilynjean Interactive Inc (OTCMKTS:MJMI<\/a>) and, on the face of it, with good reason. On October 1, the company announced that 21,183,000 common shares, or about 16% of the free trading stock, have been returned to the treasury. This, the management team said, is supposed to make MJMI<\/a><\/strong> a more appealing investment option.<\/p>\n

The market tends to agree. The move hasn’t really been explosive, but the press release did made quite a lot of people finally pay attention to MJMI<\/a><\/strong>. Yesterday, investors pushed the dollar volume up to more than $186 thousand and after gaining 2%, the ticker closed the session at $1.01 per share. Investors apparently like what they see and hear from MJMI<\/a><\/strong>, but they might be missing a few things that are worth noting. <\/p>\n

As we mentioned already, a better-looking share structure is supposed to help the company raise some cash and get its business going. The truly abysmal financials in the latest 10-Q ($5 thousand <\/strong>in cash, less than $8 thousand<\/strong> in total assets, and $198 thousand<\/strong> in liabilities) show that the company definitely needs the money.<\/p>\n

Nobody would be willing to pour their hard-earned cash into MJMI<\/a><\/strong> before understanding the business plan, though. That won’t be as simple as it sounds.<\/p>\n

The company was previously known as Future Energy Corp and it was trying to make it in the oil and gas industry. That didn’t work and after the name change, it said that it will try to sell baby clothes and toys through an e-commerce platform. Right now, the press releases and the company website try to convince us that MJMI<\/a><\/strong> is working in the Bitcoin industry.<\/p>\n

Once they’ve figured out the business plan, the people who are contemplating an investment will probably want to do some due diligence. They’ll rummage around the older filings and they’ll find out that the infamous Luis Carrillo and Wade Huettell helped MJMI<\/a><\/strong> go public about a year before their law firm was charged with orchestrating a pump and dump scheme.<\/p>\n

Investors will also find out that when the company was going public, it sold a total of 42,385,500 units at $0.01 apiece<\/strong>, with each unit consisting of one common share and some warrants.<\/p>\n

The warrants were never exercised and they expired. We’re not interested in that, however. We’re interested in the common stock that was issued during the offering. We’d like to know whether the canceled shares from last week are a part of it.<\/p>\n

Whatever the case, the fact remains that there’s a massive amount of hugely discounted stock and it could soon find its way to the open market. Once it does, the effects could be quite disastrous.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors are quite excited about Marilynjean Interactive Inc (OTCMKTS:MJMI) and, on the face of it, with good reason. On October 1, the company announced that 21,183,000 common shares, or about 16% of the free...<\/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":[1882],"class_list":["post-7090","post","type-post","status-publish","format-standard","hentry","category-news","tag-mjmi"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7090","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=7090"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7090\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}