phyer
Member
I'm all for taking some risks on penny stocks if you have a bit of cash lying around but this stock is laiden with red flags. Did you actually look at the 10k? Your just straight up gambling if you didn't and the odds are like 500:1 against you. They are $70,000,000 in debt and produce an income of less than $100,000. Just those figures alone should tell you to stay away.
Then, there are the technicals, which have been steady bearish for a few years now and look like they will stay on the same path. Unless they come up with some major breakthrough soon which doesn't seem likely from this testimony in their 10K
"During the fiscal year ended December 31, 2011, we received net cash of $237,480 from financing activities compared to $343,437 for the same period in 2010. We used net cash of $236,473 in operating activities compared to $341,876 for the same period in 2010. And we used net cash of $0 in investing activities compared for the fiscal year ended December 31, 2011 compared to $614 for the same period in 2010.We are currently not in good short-term financial standing. We anticipate that we may only generate any limited revenues in the near future and we will not have enough positive internal operating cash flow until we can generate substantial revenues, which may take the next two years to fully realize. There is no assurance we will achieve profitable operations. We have historically financed our operations primarily by cash flows generated from the sale of our equity securities and through cash infusions from officers and outside investors in exchange for debt and/or common stock."
Its your money do what you want with it but jumping into a stock without doing your homework is just not what you wanna do. If your looking for marijuana penny stocks look at
rfmk
mjna
grnh
Then, there are the technicals, which have been steady bearish for a few years now and look like they will stay on the same path. Unless they come up with some major breakthrough soon which doesn't seem likely from this testimony in their 10K
"During the fiscal year ended December 31, 2011, we received net cash of $237,480 from financing activities compared to $343,437 for the same period in 2010. We used net cash of $236,473 in operating activities compared to $341,876 for the same period in 2010. And we used net cash of $0 in investing activities compared for the fiscal year ended December 31, 2011 compared to $614 for the same period in 2010.We are currently not in good short-term financial standing. We anticipate that we may only generate any limited revenues in the near future and we will not have enough positive internal operating cash flow until we can generate substantial revenues, which may take the next two years to fully realize. There is no assurance we will achieve profitable operations. We have historically financed our operations primarily by cash flows generated from the sale of our equity securities and through cash infusions from officers and outside investors in exchange for debt and/or common stock."
Its your money do what you want with it but jumping into a stock without doing your homework is just not what you wanna do. If your looking for marijuana penny stocks look at
rfmk
mjna
grnh
