Medican Enterprises Inc (OTCMKTS:MDCN) Extends The Option To Purchase Two New Phoenix Area Properties
Medican Enterprises Inc (OTCMKTS:MDCN), an emerging biopharmaceutical and merchant bank entity is proud to announce the extension to buy two new properties in Phoenix area. As per thereports, the company continues to raise capital in the market; therefore, it’s willing to extend the closing for some more time.
Insights On The Matter:
The first property has a total retail area of 7,200 sq. ft. in Phoenix area. It is currently used by a licensed medical marijuana dispensary that has taken it on the lease. Reports claim that the medical marijuana dispensary pays an amount of $15000 as monthly rent plus 30% of monthly gross sale that it makes out of this facility.
Kalinowski & Associates conducted a real estate appraisal on this property on December 24, 2014, according to which the total value of this property came as much as $2.38 million. The thing that one should keep in mind while assessing this valuation is that it is of conservative nature. In simple words, it takes into consideration only the monthly rental income of $15000 and not the gross sales profit that it generates every month.
Medican Enterprises believes that the business of this property is growing at a flat rate, and soon it will touch new heights.
The second property is also situated in the Phoenix and covers a total area of 66,000 sq ft. Medican looks forward to buying this property and lease it to an entity that grows medical marijuana. The company has not yet finalized the commercial terms concerning this property. Kalinowski & Associates conducted a property appraisal test on February 9, 2015 and valued it $2.34 million as a medical marijuana facility. The valuation doesn’t consider any additional option.
The senior management of the company looks forward to closing the acquisition of both the properties soon.
Medican Enterprises Inc (OTCMKTS:MDCN) may have lost yet another 8.33% on Friday but the most interesting thing at this point would be the candle structure. The last 3 sessions saw the usual increasing volume, as evident from the Friday volume of 234 million, much higher than the average volume of 94 million. It must be noted that the average volume has been deeply affected by the increasing volume in the last 4-5 weeks. The structure of the price indicates, at least initially, that the bearish momentum may be slowing down. This must be confirmed with a break above $0.002.
Medican Enterprises Inc (OTCMKTS:MDCN), an emerging biopharmaceutical and merchant bank entity is proud to announce the extension to buy two new properties in Phoenix area. As per thereports, the company continues to raise capital in the market; therefore, it’s willing to extend the closing for some more time.
Insights On The Matter:
The first property has a total retail area of 7,200 sq. ft. in Phoenix area. It is currently used by a licensed medical marijuana dispensary that has taken it on the lease. Reports claim that the medical marijuana dispensary pays an amount of $15000 as monthly rent plus 30% of monthly gross sale that it makes out of this facility.
Kalinowski & Associates conducted a real estate appraisal on this property on December 24, 2014, according to which the total value of this property came as much as $2.38 million. The thing that one should keep in mind while assessing this valuation is that it is of conservative nature. In simple words, it takes into consideration only the monthly rental income of $15000 and not the gross sales profit that it generates every month.
Medican Enterprises believes that the business of this property is growing at a flat rate, and soon it will touch new heights.
The second property is also situated in the Phoenix and covers a total area of 66,000 sq ft. Medican looks forward to buying this property and lease it to an entity that grows medical marijuana. The company has not yet finalized the commercial terms concerning this property. Kalinowski & Associates conducted a property appraisal test on February 9, 2015 and valued it $2.34 million as a medical marijuana facility. The valuation doesn’t consider any additional option.
The senior management of the company looks forward to closing the acquisition of both the properties soon.
Medican Enterprises Inc (OTCMKTS:MDCN) may have lost yet another 8.33% on Friday but the most interesting thing at this point would be the candle structure. The last 3 sessions saw the usual increasing volume, as evident from the Friday volume of 234 million, much higher than the average volume of 94 million. It must be noted that the average volume has been deeply affected by the increasing volume in the last 4-5 weeks. The structure of the price indicates, at least initially, that the bearish momentum may be slowing down. This must be confirmed with a break above $0.002.
