MaryJane Group Inc (OTCMKTS:MJMJ) reported that it plans to file its Annual Report for the year ending April 30, 2015 on or before July 27, 2015. Joel C. Schneider, the President and CEO, said that he look forward to releasing annual financial report and to have an opportunity to speak with company’s shareholders pertaining to business opportunities. The CEO added that the revenue for the ongoing quarter has already surpassed over $200,000. This quarter is expected to be the best quarter in terms of revenue to date.
Despite the positive announcement, the stock price declined to close the week in red. In last trading session, the stock price of MaryJane declined over 5% to close the trading session at $0.00180. The decline came at a share volume of 35.43 million compared to average share volume of 109.28 million.
The performance
The major problem that has appeared for MaryJane in last few weeks is the failure to advance with the CannaCamp project. In the latest PR, the company reported that CannaCamp project will take some time to materialize. The location, which was initially decided for CannaCamp, has been bought by some other entity. Following the news, the stock had been constantly moving south on the charts. It remains to be seen if the annual reports can reverse this declining trend or not.
MaryJane attempted to ease the nervousness of investors by stating that the company is expanding its Bud + Breakfast location. However, the people cared a less about the new leased Bud + Breakfast location and were unhappy with the fact that CannaCamp project is not happening this year.
The uncertainty
MaryJane Group Inc (OTCMKTS:MJMJ) announced the opening of CannaCamp without even finalizing an agreement with the land owners. Moreover, the company started taking paid reservations from people through its website. This whole issue marks a question on the sincerity of management and reliability of company’s projects.
