As if Medical Marijuana, Inc. (OTCPK:MJNA) needs more controversy, a lawsuit filed by the minority owner of its Red Dice Holdings subsidiary has shed light on many of the issues that have been weighing on the company. The allegations raised in the lawsuit are quite serious and, if true, suggest potential fraud. In light of this new information, I am more confident in my recent prediction that the price of MJNA could fall to $0.05, though the risk of a substantially worse outcome exists.
I have covered the details of MJNA extensively since February, and readers can refer to a link to a catalog of my articles on the stock that I included in my most recent article, "Medical Marijuana: Definitely a Dope Opera" a few weeks ago. A lot has happened since that last article, and I shared my most recent views a few days after, when MJNA released its Q3 press release well after it had filed its OTC disclosure, suggesting the stock should be sold.