Aug 18 2010

Friday the 13th

Posted by J. Craig Canada in business, ronnie lee smith, web publishing
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MJNA takes off on Friday The 13th

The day before Friday The 13th, Medical Marijuana Inc. (MJNA) opened at $0.06 and closed at $0.066 on volume of 275,697.

As you can see from the chart, the price had been hovering around $0.06 since the beginning of July, where it appears to have found a floor after a spectacular dive from a high of $0.75 the previous April after a precipitous run-up.

The run-up in April was the result of a name change from Club Vivanet to Medical Marijuana Inc. and the announcement of a 10 for 1 split.

On Friday The 13th MJNA opened at $0.08, soared to $0.12, and closed at $0.09 on nearly 4 times the previous day’s volume with 935,068 shares traded.

On Monday it opened at $0.09 and hit resistance at $0.12, where it closed on volume of 1,024,685.

On Tuesday it traded up in the pre-market, opening at $0.135, rushed past the previous resistance climbing to $0.18, and closed at $0.163 on more than double the previous day’s volume with 2,505,047 shares traded

In short, the stock soared 266% while volume increased 12 1/2 times.  By anybody’s standards, that is a buying frenzy.

2-year stock chart for MJNA on 18 Aug 10

2-year stock chart for MJNA as of 18 Aug 10

On the 17th, Cannabis Medical Solutions (CMSI) rose 30% closing at $0.04 on ten times the previous days’ volume, trading 2,470,700 shares.

Meanwhile, Cannabis Science (CBIS) at $0.055 appears to have established a floor after a precipitous run-up and protracted sell-off similar to those of MJNA and CMSI.

Over The Counter Markets (OTC) displays the following warning on it’s quote for MJNA, which they have classified as “Distressed”:

Investors should be aware that no firm is making a market in this stock on Pink Sheets.  All prices reflect unsolicited customer orders and investors may have a difficult time selling this stock.

The next tier up in OTC’s ranking system is “Transparent”.  Above that is “U.S. Registered”, the rating assigned to CBIS and CMSI.  The next tier up is “Trusted”, OTC’s highest ranking.  The two rankings below MJNA’s “Distressed” are “Dark / Defunct” and “Toxic”.

examiner.com Crashes

Also on Friday The 13th, examiner.com proceeded with a dreaded and much feared “upgrade”.  examiner.com is an internet publishing enterprise.  It contracts writers, paying them somewhere between a half cent and a cent per view.

The result of their upgrade was the destruction of the formatting of many, if not most, of the articles on the site.  This was the second time in twelve months that examiner.com has trashed their writers’ articles.

One of their managers, in all seriousness, proclaimed that the upgrade was tantamount to tearing down a brick house and replacing it with one built of LEGOs.  Apt though the comparison may have been, examiner.com’s writers were not amused.

A number of them had spent the 4th of July testing the “upgrade”.  Their suggestions and recommendations were completely ignored along with their warning not to proceed with the “upgrade” because it was not ready and could only result in disaster.

And what a disaster it was.  Images, media, and links disappeared.  HTML code appeared in the text.  Unpublished works in progress were published.  The most viewed page over the weekend was the “404 not found” error page which apologized for the “wonky” appearance of the site.

How the technical staff of a business that claims to be about publishing could not know that enlarging the font size several points would expand photo captions and blow all the margins of image and video boxes remains a mystery.  As does how any experienced IT professional could attempt to port data from one application to another without setting up a test domain and working out such obvious pitfalls.

In the interest of giving credit where credit is due, it must be said that they did add the year to the publication date of their articles.  But only after I made an issue of it in their writers’ forum.

My complaints about my vandalized articles and the inability to properly edit and preview edits when composing an article resulted in my “suspension”.  My response?  Fool me once, shame on you.  Fool me twice, shame on me.

Kidnapped In Kentucky

Meanwhile, Ronnie Lee Smith, who is running for Sheriff announced on facebook that the hospital had kidnapped his cousin

Smith is running on a marijuana legalization platform in Gallatin County, Kentucky.

The abduction occurred at St. Elizabeth’s Hospital in Florence, Kentucky.

According to Smith, his cousin had an epileptic seizure while holding a knife and they could not get it out of her hand.

When the cousin went to the emergency room to have the cuts treated the hospital would not release her.

Fox 19 News reported she was suicidal and was being held in the mental ward.  It seems in Kentucky anyone that a doctor determines could be a danger to themselves is subject to a 72-hour hold.

Smith claims the hospital’s motive for taking his cousin prisoner was purely financial, to gouge her medical insurance.

The video records that Smith asked twice to have the Sheriffs called to sort things out, a request the hospital completely ignored.

When they tried to leave, a scuffle ensued with the result that his cousin was dragged away screaming in front of her children.

The next day, on Sunday, Smith announced on Facebook that their grandmother called to tell him the authorities had called her were coming to take custody of the children.

Both FOX 19 News and  LEX 18 News report that it is expected that Florence will file criminal charges against Smith.

As of this writing, the video recorded by Ronnie Lee Smith has been viewed 14,445 times since it was posted August 14th on YouTube.


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