New Cannabis Ventures reported that investors interested in participating in the Med-X crowdfunding campaign should read the offering circular. Unfortunately, most investors don’t bother with the fine print. In this case, that would be a very bad idea.
According to the article key points to look for include:

  1. The company’s most updated financials, from June 30th, indicate no sales to date and there has never been mention of any sales at all.  Why not?

  2. As of June 30th, the book value (assets less liabilities) was just $369K

  3. In addition to the 25mm shares the company intends to sell, there are 90mm shares that have been given as founder’s stock to the company’s insiders, mainly COO and President Matthew Mills, who received 60mm shares. About 2.4mm shares  have been sold to investors at $0.50), leaving a current total of about 117.4mm shares

  4. Oddly, the CEO was given only 3mm shares, less than the the company’s lawyer, who got 5mm.

  5. At $0.60 per share, the company is being valued at over $70mm! “The offering price of the shares of common stock has been determined by management, and bears no relationship to our assets, book value, potential earnings, net worth or any other recognized criteria of value.”

  6. Of the $15mm being raised, the company will keep only $13mm, with $2mm in expenses (mainly marketing)

Click here to view the full report. 

World High Life Plc (“World High Life” or the “Company”)(AQSE:LIFE) (OTCQB:WRHLF), is pleased to announce that it has appointed H&P Advisory Limited (“Hannam & Partners”) as financial advisor to the Company with immediate effect

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