I read the 10Q. Fine, but I am a little concerned the company is entering into one too many agreements without the cash to swing it. Case in point:
MCOA has entered into an agreement to purchase a 20 percent ownership in Natural Plant Extract of California (“NPE”) for $2,000,000 cash plus mucho insider restricted stock in staggered payments that were too aggressive, since it is in default on the schedule. We have only made the initial payment of $350,000, and the remaining schedule is being renegotiated. How will this effect the Viva Buds arrangement? On the surface everything seems OK.
Apparently we are counting on sources of money that are obviously not in place yet. What about our White Nights and their huge infusion in cash for a substantial position of MCOA common stock? How much money have we received, and how much stock have they gotten in return- is that going smoothly? Is the R/S being well received by them?
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