MDCN Medican Enterprises DD
For those that don’t know, Medican Enterprises is a medical marijuana company that until recently has focused on production and wholesale distribution of cannabis related products. It is currently trading OTC between 0.0003 and 0.0005.
Medican has a lot of downward pressure from a variety of sources. Primarily, their stock is overly diluted through over issuance to resolve debt, their debtors are selling off their stock, and they keep getting shorted. During all of this, they have been maneuvering themselves into a excellent position to rebound and return to the market.
Fails to Deliver: https://sec.report/fails.php?tc=MDCN
Ownership Acquisition Statement for Adar Bays LLC: https://sec.report/Document/0001078782-21-000100/
1,310,692,543 stocks, 9.99% of class, filed 2-11-2021
Adar Bays seems to be a holding company, the only SEC filings are for ownership acquisitions, not a whole lot of public information about them. https://sec.report/CIK/0001784975
Ownership Acquisition Statement for Del Riley: https://sec.report/Document/0001854357-21-000006/
2,550,000,000 stocks, 11.76% of class filed 4-22-2021
No, this is not the Del Riley from Canada with a prominent interest in the marijuana industry. This Del Riley is from PA, who is the managing partner at Royal Beverage, which is a medical marijuana research facility. https://cage.report/DUNS/079597111
Short Interest: (the admin bot called this site spam so just google it yourself, it’s not that hard. Tldr for the anti googlers, someone shorts it a few hundred dollars every time it spikes up a bit)
It seems that every time the stock price goes up just a little bit, someone shorts the stock just a little bit.
OTC Quarterly Report filed 5-21-2021: https://sec.report/otc/financial-report/284519
Medican seems to have resolved a great portion of their debt issues by giving away stocks to their debtors. It seems that most of those debtors are selling off their stock whenever it spikes up a little. I don’t blame them for that, they need the money that they were owed, not stock.
It also appears that they took on several loans through issuing stock, which may be related to the acquisition of Immediate Properties LLC. My guess would be that Immediate Properties held the properties or mortgages for the locations that Medican operated in. The Real Estate investments from 12-2020 to 3-2021 multiplied by 10, exactly by 10. Either Immediate Properties held a 90% stake in their real estate, or they had real estate that was exactly 9 times the real estate that Medican already had.
Immediate Properties Twitter: https://twitter.com/Immediateproper?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Immediate Properties is still doing what they’ve been doing, acquiring properties and renting them out, and generally acting as a real estate broker. They started a vacation rental division, invested in technology that would help keep selling homes during Covid, and recently started assessing their holdings to complete the merger. The oldest tweet on the profile that loaded for me was 7-26-2019, basically announcing the coming merger with Medican, which is around the time of several of the purchase/sale and joint venture agreements that traded some of Medican’s stock.
My Predictions: There’s going to be several spikes over the next few months, each one going slightly higher than the next. Basically occurring whenever there’s some news of valuation coming out. There should be one very soon when the property assessment from Immediate Properties is made public. The debtors will sell off what they can during the spike, and the short sellers will swoop in and put further downward pressure. Eventually the debtors will clear out their stocks.
There is the possibility that there will need to be a reverse stock split in order to get the value up high enough to return to the market, but that won’t be able to happen so long as the debtors that want to sell are still holding their stocks. Even with a 10:1 reverse split, the number of stocks will still be in the billions. However, this won’t necessarily
Medican is positioned to become the McDonalds of Marijuana. The main way that McDonalds makes money is not from the food that they sell, but from owning the property that each franchise is located. They collect money from everything that the franchise location needs to operate besides water and electricity. Medican just acquired a real estate focused company, that still operates as it did before. Once the merger completes, all they need to do is adopt McDonalds model and start franchising dispensary locations. You know the stock is about to blow up if they announce a franchising option.
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July 22, 2021 at 04:03PM