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. 
 

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

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The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

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The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

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