MaryJane Group Inc (OTCMKTS:MJMJ) Falling On Record Volumes

[[tagnumber 0]][[tagnumber 1]]Unlike many other companies in the cannabis industry MaryJane Group Inc (OTCMKTS:MJMJ) hasn’t received much attention. That’s probably one of the reasons for which we haven’t covered it yet. After all, the company stock’s usual daily dollar volumes were just a couple of thousand dollars.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]For starters, we should note that [[tagnumber 6]]MJMJ [[tagnumber 7]]are not your everyday cannabis company. They provide lodging in Colorado. The idea for [[tagnumber 6]]Bud+Breakfast™[[tagnumber 7]] sounds very nice and is something new to the cannabis industry. Although the idea is good, however, we can’t say the same about the company’s financial state. Their balance sheet for the quarter ended January 31, 2015 looks like this.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $325[[tagnumber 15]] [[tagnumber 14]]current assets: $68,365[[tagnumber 15]] [[tagnumber 14]]current liabilities: $499,504[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $140,086[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $382,233[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]One of the biggest problems that [[tagnumber 6]]MJMJ [[tagnumber 7]]is facing is the small amount of cash on hand and assets. A significant portion of the liabilities is also in the form of convertible notes that can turn into highly discounted stock once converted.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On the good side, we see that [[tagnumber 6]]MJMJ [[tagnumber 7]]has been generating revenues, but this quarter’s sales were less than those recorded in the previous quarter. Net loss has been significantly decreased compared to the quarter ended October 31, 2014, but that is mainly due to the fact that $1,005,000 worth of common stock was issued to employees, vendors and consultants.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That doesn’t sound very nice when you consider the fact that back in the end of March [[tagnumber 6]]MJMJ[[tagnumber 7]] paid $5000 to Penny Stock Bets to promote the stock. The pump, however, failed to do anything and [[tagnumber 6]]MJMJ [[tagnumber 7]]began to slide throughout April and the beginning of this month, losing a total of 95% after closing at $0.005 on May 8.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Without the help of press releases or paid promotions, however, [[tagnumber 6]]MJMJ [[tagnumber 7]]managed to start this week with an impressive 100% gain. After a press release announcing a partnership with Botanico’s dispensary on Tuesday [[tagnumber 6]]MJMJ [[tagnumber 7]]gained another 120% and climber to $0.022.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Unfortunately, it has been sliding ever since. Yesterday the ticker lost another 27.59% and finished the session at $0.0105. The volume was nearly 15 times the average, but the 15.68 million shares that changed their owners throughout the session generated only $158 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker has been sliding since today’s market open also, so be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]