American Cannabis Company Inc (OTCMKTS:AMMJ) Slips Again

[[tagnumber 0]]A[[tagnumber 1]]fter a rather slow start of the year we saw American Cannabis Company Inc (OTCMKTS:AMMJ)’s stock begin to climb the charts more rapidly last month and the volumes saw an impressive increase.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This was all a results of the company’s financial report for the fiscal 2015, which managed to generate the needed investor attention and optimism to push the ticker up the charts. Here is just a quick example of some of the contents of the balance sheet of said report.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $556 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $713 thousand[[tagnumber 11]] [[tagnumber 10]]current liabilities: $593 thousand[[tagnumber 11]] [[tagnumber 10]]annual revenues: $2.8 million[[tagnumber 11]] [[tagnumber 10]]annual net loss: $516 thousand[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those numbers seem fairly decent for an OTC marketplace traded entity and they managed to provide [[tagnumber 24]]AMMJ[[tagnumber 25]] with the positive attention it received due to the low market cap that the company has. This was why it wasn’t so hard for the ticker to climb above 30 cents per share in a matter of just a couple of days.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, [[tagnumber 24]]AMMJ[[tagnumber 25]] quickly began correcting and lost quite a lot of value in the second half of last month. The company’s attempts to remind investors of the positive results in its annual report were unsuccessful, just like the optimistic press releases.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Even though [[tagnumber 24]]AMMJ[[tagnumber 25]] announced that it had secured a new client in Pennsylvania yesterday we saw the ticker lose 13.51% and drop to $0.16. A total of 550 thousand shares changed their owners and generated $88 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]AMMJ is still sliding after today’s market open, so you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]