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$MJMJ

0 1283

The MaryJane Group Executes Consulting Agreement with dLOMa Performance Hospitality, LLC

DENVER–(BUSINESS WIRE)–

The MaryJane Group, Inc. [OTCQB: MJMJ], a lodging and hospitality group targeting the cannabis industry (a/k/a “Canna-Lodging” and “Canna-Hospitality”), announced today that it executed a consulting agreement with dLOMa Performance Hospitality, LLC and its principal owner, Dustin Lombard. As a seasoned operator in the hospitality industry, Mr. Lombard was engaged to standardize the Company’s operations, increase its profitability, and identify growth opportunities. Mr. Lombard most recently served as COO/CFO for an international restaurant group where he successfully integrated new systems and centralized functionality for multi-unit concepts resulting in annual sales of approximately $100 million with its 40 locations.

Joel C. Schneider, President and Chief Executive Officer of The MaryJane Group, stated, “We are pleased Dustin and dLOMa Performance Hospitality, LLC have joined our family. Dustin’s 15-year hospitality career that focused on developing effective systems, streamlining expenses and enhancing guests’ experiences is just what we have been seeking. His knowledge in those areas will greatly assist us in our time of growth and will be extremely helpful in our quest to become the dominant force in Canna-Lodging and Canna-Hospitality.”

Dustin Lombard stated, “Joel and I have been talking about joining forces for the last seven months. Now feels like the right time; we both feel confident that together we will create the exceptional growth and opportunities that the Company needs. I’m excited to finally be working on this new project.”

About The MaryJane Group, Inc.

The MaryJane Group is the leader and creator of the canna-lifestyle hospitality sector, committed to strengthening the recreational cannabis industry through a unique brand portfolio and trusted partnerships. The Company currently provides cannabis-friendly lodging and events at its two Bud+Breakfast™ locations. Reservations for both locations can be made online atwww.budandbfast.com or by calling the following numbers. The Bud+Breakfast at The Adagio is located at 1430 Race Street, Denver, Colorado; phone (303) 370-6911. The Bud+Breakfast at The Mountain Vista is located at 358 Lagoon Lane, Silverthorne, Colorado; phone (970) 368-6757.

Corporate offices are located at 910 16th Street, Denver, CO 80202; phone (303) 853-8603. For more information, please visit the Company’s websites at www.themaryjanegrp.com andwww.budandbfast.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of The MaryJane Group, Inc. Certain statements in this release, including those related to expected or exceptional growth, the Canna-Lodging and Canna-Hospitality industry, Mr. Lombard’s knowledge in the hospitality industry and its future effect upon the Company, and the exceptional growth and opportunities that may be available due to the strengths of Mr. Schneider and Mr. Lombard, among other written and oral statements, are “forward looking statements” within the meaning of the federal securities laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company’s services and the Company’s continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

Contact:
The MaryJane Group, Inc.
Joel C. Schneider, 303-835-8603
President and CEO

0 1196

The Maryjane Group, Inc. Announces Financial Results for Quarter Ended October 31, 2014

DENVER, CO / ACCESSWIRE / January 26, 2015 / The MaryJane Group, Inc. [OTCQB: MJMJ], the preeminent hospitality group in the marijuana industry, will be presenting on the Cannabis Investor Webcast on Thursday, January 29, 2015 at 9:00am EST. The MaryJane Group currently provides cannabis-friendly lodging and events at its two Bud and Breakfast locations in Denver and Silverthrone, Colorado.

“We are excited that The MaryJane Group has decided to present to our online audience of industry investors, analysts, executives, media and consumers,” said Derwin A. Wallace, Senior VP of Investor Webcast. “The online interactive webcast is a great opportunity for the listening audience to research industry companies without taking time off from work, paying registration fees or incurring travel-related expenses.”

The Cannabis Investor Webcast will include presentations from privately-held and publicly-traded industry companies and industry professionals. The MaryJane Group’s presentation will be 30 minutes long and followed by a 15-minute Q&A.

“The Cannabis Investor Webcast’s online interactive platform will provide us increased exposure and a unique opportunity to present our business and expansion plans to a group of individuals who are interested in our niche market,” stated Joel C. Schneider, President and CEO of The MaryJane Group.

The presentation will include material information on the Company, its operations, strategies and prospects. Cannabis investors, analysts, executives, media and consumers who would like to attend the free online webcast, can register online at http://www.cannawebcast.com/ at the registration page. An audio replay will be available for on-demand listening beginning two weeks after the presentation at Cannabis Investor Webcast Recordings and on the Company’s website at www.maryjanegrp.com.

About The MaryJane Group, Inc.

The MaryJane Group, Inc. is the preeminent hospitality group in the marijuana industry. It currently provides cannabis-friendly lodging and events at its two Bud and Breakfast locations. The Mountain Vista Bed and Breakfast is located at 358 Lagoon Lane, Silverthorne, CO. The Adagio Bed and Breakfast is located at 1430 Race Street, Denver, CO. Corporate offices are located at 910 16th Street, Denver, CO 80202. For more information, please visit the Company’s website at www.maryjanegrp.com or at www.adagiobb.com.

0 1163

Form 8-K for MARYJANE GROUP, INC.

14-Jan-2015

Changes in Registrant’s Certifying Accountant, Financial Statements and Exhi

ITEM 4.01 CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANTEffective January 14, 2015, the Board of Directors of The MaryJane Group, Inc. (the “Company”) approved a change in the Company’s independent registered public accountants from Harris & Gillespie, CPAs, PLLC, f/k/a Thomas J. Harris, CPA (“Harris & Gillespie”) to Turner, Stone and Company, LLP (“Turner Stone”). Accordingly, the Company terminated its relationship with Harris & Gillespie and engaged Turner Stone to serve as the Company’s independent registered public accountants and to provide quarterly financial review services for three months ended January 31, 2015 and annual audit services for the year ended April 30, 2015.

Harris & Gillespie’s reports on the financial statements of the Company for the past two fiscal years ended April 30, 2014 and 2013 and subsequent interim periods ended July 30, 2014 and October 31, 2014, did not contain any adverse opinion or disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principles; however, the opinion for each of the fiscal years ended April 30, 2014 and 2013 were qualified as to the Company’s ability to continue as a going concern.

During the Company’s last two fiscal years and through the date of this Report, there were no disagreements between the Company and Harris & Gillespie on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Harris & Gillespie would have caused it to make reference to the subject matter of the disagreements in connection with its report; and there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Harris & Gillespie a copy of the above disclosures in response to Item 304(a) of Regulation S-K in conjunction with the filing of this Report and requested that Harris & Gillespie provide the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company in response to Item 304(a) of Regulation S-K. A copy of such letter, dated January 14, 2015, is filed as Exhibit 16.1 to this Report.

During the Company’s two most recent fiscal years and through the date of this Report, the Company did not consult Turner Stone with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, or any other matters or reportable events as set forth in Items 304(a)(2) of Regulation S-K.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS(d) Exhibits:

Exh. No. Document

16.1        Letter to the SEC from Harris & Gillespie, CPAs, PLLC dated January
          14, 2014*


____________________________

* Filed herewith.

 

1 1521

The MaryJane Group’s Bud and Breakfast Featured on CBS 60 Minutes Overtime, Sunday January 11, 2015

DENVER–(BUSINESS WIRE)–

The MaryJane Group, Inc. (MJMJ) announced that its Bud and Breakfast at The Adagio located in Denver, Colorado was featured on CBS 60 Minutes Overtime on Sunday, January 11, 2015.

About The MaryJane Group, Inc.

The MaryJane Group, Inc. is the preeminent hospitality group in the marijuana industry. It currently provides cannabis-friendly lodging and events at its two Bud and Breakfasts. The Adagio Bed and Breakfast is located at 1430 Race Street, Denver, Colorado. The Mountain Vista Bed and Breakfast is located at 358 Lagoon Lane, Silverthorne, Colorado.

Corporate offices are located at 910 16th Street, Denver, CO 80202. For more information, please visit the Company’s websites atwww.themaryjanegrp.com, www.adagiobb.com, or www.budandbfast.com.

Contact:
The MaryJane Group, Inc.
Joel C. Schneider, 303-835-8603
President and CEO

0 1258

The MaryJane Group, Inc. Announces Financial Results for Quarter Ended October 31, 2014

DENVER–(BUSINESS WIRE)–

The MaryJane Group, Inc. (MJMJ) announced today its financial results for the three month period ended October 31, 2014. The Company’s revenue of $164,293 and costs of goods sold of $94,152 produced a gross profit of $70,141. The gross profit increased from 23% during the three months ended July 31, 2014 to 43% for the three months ended October 31, 2014 as a direct result of the Company’s elimination of unprofitable businesses and focusing its business model on lodging and entertainment. Revenue for the six months ended October 31, 2014 totaled $277,232.

Joel C. Schneider, President and Chief Executive Officer of The MaryJane Group stated, “We are pleased with our operating results for the quarter ended October 31, 2014. Our revenue increased month over month during the quarter. More importantly, our gross profit continues to increase as a result of the termination of unprofitable business offerings coupled with the increase in revenue at our Bud and Breakfast locations.”

About The MaryJane Group, Inc.

The MaryJane Group, Inc. is the preeminent hospitality group in the marijuana industry. It currently provides cannabis-friendly lodging and events at its two Bud and Breakfast locations. The Mountain Vista Bed and Breakfast is located at 358 Lagoon Lane, Silverthorne, CO. The Adagio Bed and Breakfast is located at 1430 Race Street, Denver, CO. Corporate offices are located at 910 16th Street, Denver, CO 80202. For more information, please visit the Company’s website atwww.maryjanegrp.com or at www.adagiobb.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of The MaryJane Group, Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are “forward looking statements” within the meaning of the federal securities laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company’s services and the Company’s continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

Contact:
The MaryJane Group, Inc.
Joel C. Schneider, 303-835-8603
President and CEO

1 1227

Form 10-Q for MARYJANE GROUP, INC.

11-Dec-2014

Quarterly Report

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsGeneral

The following discussion and analysis provides information which our management believes to be relevant to an assessment and understanding of our results of operations and financial condition. This discussion should be read together with our financial statements and the notes to the financial statements, which are included in this Quarterly Report on Form 10-Q (the “Report”). This information should also be read in conjunction with the information contained in our Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on August 29, 2014, including the audited consolidated financial statements and notes included therein as of and for the year ended April 30, 2014. The reported results will not necessarily reflect future results of operations or financial condition.

Throughout this Report, the terms “we,” “us,” “our,” “our Company,” or “The Mary Jane Group,” refers to The MaryJane Group, Inc., a Nevada corporation, and unless otherwise specified, includes our wholly owned operating subsidiaries listed below.

We maintain a website at www.themaryjanegrp.com and our Common Stock trades on the OTCQB under the symbol “MJMJ.”

Overview of Operating Businesses

We were incorporated in Nevada on February 16, 2012 under the name of Pladeo Corp. for the purpose of developing online chat systems free of charge. Through a series of transactions in the first quarter of 2014, we changed our focus to provide lodging and hospitality services to the recreational marijuana industry and changed our name to The MaryJane Group, Inc.

On January 1, 2014, the State of Colorado became the first state to legalize the use of recreational marijuana. Colorado residents, who are at least 21 years of age with photo identification, may purchase as much as one ounce of marijuana in a single transaction. Non-Colorado residents, bearing the same identification, may purchase as much as one-quarter ounce. Marijuana cannot be consumed in any public space, including the shops where it was purchased. Our operating subsidiaries outlined below were formed for the purpose of providing cannabis-friendly lodging and to provide value added services of information and entertainment to consumers supporting the recreational marijuana industry. Currently, the following states and jurisdictions allowing the use of recreational marijuana are Colorado, Washington, Oregon, Alaska and Washington, D.C.

Current Operations

Capital Growth Corporation, organized on February 4, 2014 as a Colorado corporation (“Capital Growth”), was formed for the purpose of providing short- and long-term financing to assist growers and retail establishments engaged in the manufacture and distribution of recreational marijuana within the State of Colorado. Since its formation, Capital Growth has not entered into any funding transactions and we do not intend to do so in the future. Going forward, we intend to use Capital Growth as a business development company.

Mary Jane Entertainment, LLC, organized on May 21, 2013 as a Colorado limited liability company (“Mary Jane Entertainment”), was formed to provide contracted limousine and party-bus services. Currently, Mary Jane Entertainment is operating on a limited basis as a concierge service. In July 2014, we moved the operations of Mary Jane Tours, LLC, a Colorado limited liability company providing unique cannabis-related tours, into Mary Jane Entertainment and we dissolved Mary Jane Tours, LLC.

Bud and Breakfast, LLC, organized on April 10, 2014 as a Colorado limited liability company (“Bud and Breakfast”), was formed to operate and manage our marijuana-friendly bed and breakfast located at The Adagio, 1430 Race Street, Denver, Colorado. This is our most successful business operation and we plan to focus a majority of our efforts pursuing and developing this opportunity. We are actively seeking additional locations to expand our line of lodging. To that end, on September 4, 2014, we entered into a one year lease (“Lease”) with the owners of the Mountain Vista Bed and Breakfast, located at 358 Lagoon Lane, Silverthorne Colorado. The Lease commenced on October 1, 2014 and expires September 30, 2014. The monthly rent is $3,500 per month, plus 2% of the monthly gross lodging sales. As additional consideration, we issued the owners of the Mountain Vista 10,000 shares of our Common Stock. Lastly, pursuant to the Lease, we were granted the exclusive option to purchase the

Mountain Vista at the market value of the premises determined by a commercial appraisal on the option exercise date.

MaryJane Hospitality, LLC, organized on July 22, 2014 as Colorado limited liability company, was formed to seek additional lodging and hospitality businesses that are not only located within the State of Colorado, but in other jurisdictions as recreational marijuana becomes legal in other states. Currently, the following states and jurisdictions allowing the use of recreational marijuana are Colorado, Washington, Oregon, Alaska and Washington, D.C.

MaryJane Events, LLC, organized on July 22, 2014 as a Colorado limited liability company, was formed for the purpose of planning private and corporate events focused upon, but not limited to, the recreational/medicinal marijuana industry.

MaryJane Designs, LLC, organized on August 28, 2014 as a Colorado limited liability company (“Mary Jane Designs”) was formed to operate our apparel division that creates clothing items with our logo to be sold at our lodging facilities. In July, 2014, we folded the sandblasting operations of Mary Jane Glassworks, LLC, a Colorado limited liability company formed for the purpose of providing hand-blown glass products used in the recreational marijuana industry, into Mary Jane Designs, and we dissolved Mary Jane Glassworks, LLC in November 2014.

Former Operations

Dab City Radio (“Dab City Radio”) and Mile High Life, LLC f/k/a Mile High Times, LLC, organized on February 16, 2014 and October 13, 2013, respectively, were formed to be the promotional arms of Mary Jane Tours and Mary Jane Entertainment. Through Dab City Radio and Mile High Life, we advertised and marketed Mary Jane Tours and the Bud and Breakfast through Internet radio broadcasting and newsprint. In November 2013, Mile High Life (under the name Mile High Times) released its first newspaper in print. On June 9, 2014, we terminated the operations of Mile High Times due to continued losses in our operations and our inability to adequately compete with the larger and more established newspapers/magazines in the cannabis sector. We dissolved Mile High Life, LLC in November 2014.The operations of Dab City Radio were also terminated due to continued losses and our inability to generate enough advertising income to cover the cost of operations. We dissolved Dab City Radio in November, 2014.

Events Occurring During Third Quarter 2014

On November 24, 2014, we amended an aggregate of $86,000 of Convertible Notes originally issued to TJC Trading, LLC. The original notes were issued on May 15, 2014 ($50,000) and July 10, 2014 ($36,000). The amendment reduces the conversion rate from $1.00 to the lesser of $.10 or 45% discount to the market price of our Common Stock. In connection with this amendment the Company agreed to issue 400,000 restricted shares of its Common Stock to TJC Trading, LLC, simultaneously TJC returned 50,000 shares of free trading shares that were previously issued to them.

On November 26, 2014, we issued an 8% Convertible Note in the principal amount of $50,000. The 8% Convertible Note matures on August 26, 2015 and is convertible into our shares of Common Stock at a 45% discount to the market price of our Common Stock. “Market Price” as defined in the 8% Convertible Note means the average lowest two (2) trading prices for our Common Stock during the twenty-five trading day period ending on the latest complete trading day prior to the date of conversion. We received net proceeds of $44,250 from this transaction after payment of $2,750 in expenses and $3,000 in legal fees. The proceeds from the sale of the 8% Convertible Note are being used as working capital.

Results of Operations

Three months ended October 31, 2014 compared to three months ended October 31, 2013

Net Revenue

Net revenue for the three months ended October 31, 2014 totaled $164,293 compared to $0 in the comparable period in 2013. During the quarter ended October 31, 2014, our net revenue increased month over month. Our net revenue increased $51,354 from net revenue of $112,939 during the quarter ended July 31, 2014, representing growth of 45%. These increases are primarily a result of revenue from our bed and breakfast operations.

Cost of Goods Revenue

Cost of revenue for the three months ended October 31, 2014 totaled $94,152 compared to $0 in the comparable period in 2013. Our cost of revenue increased by $7,055 from cost of revenue of $87,097 during the quarter ended July 31, 2014. Cost of revenue as a percentage of sales for the three months ended October 31, 2014 was 57% compared to 77% for the three months ended July 31, 2014. This improvement is a result of the elimination of glassware and advertising activity which negatively impacted the quarter ended July 31, 2014.

General and Administrative

General and administrative costs for the three months ended October 31, 2014 increased by $1,087,733 to $1,091,394 from $3,661 in the comparable period in 2013. This increase is directly attributable to the commencement of operations in 2014 and costs associated with the issuance of shares of our Common Stock to employees, consultants and vendors totaling approximately $1,005,000.

Sales and Marketing

Sales and marketing costs for the three months ended October 31, 2014 were $2,515 compared to $0 for the comparable period in 2013.

Depreciation

Depreciation expense for the three months ended October 31, 2014 was $1,007 compared to $0 for the comparable period in 2013.

Other Income (Expense)

Other expense for the three months ended October 31, 2014 was $97,382 compared to $0 for the comparable period in 2013, primarily a result of interest expense associated with our debt funding.

Net Loss

Net loss for the three months ended October 31, 2014 was $1,122,157 compared to $3,661 for the comparable period in 2013.

Six months ended October 31, 2014 compared to six months ended October 31, 2013

Net Revenue

Net revenue for the six months ended October 31, 2014 totaled $277,232 compared to $0 in the comparable period in 2013. During the six months ended October 31, 2014, our net revenue increased month over month. These increases are primarily a result of revenue from our bed and breakfast operations.

Cost of Goods Revenue

Cost of revenue for the six months ended October 31, 2014 totaled $181,249 compared to $0 in the comparable period in 2013. Cost of revenue as a percentage of sales for the six months ended October 31, 2014 was 65%.

General and Administrative

General and administrative costs for the six months ended October 31, 2014 increased by $1,560,628 to $1,572,854 from $12,226 in the comparable period in 2013. This increase is directly attributable to the commencement of operations in 2014 and costs associated with the issuance of shares of our Common Stock to employees, consultants and vendors totaling approximately $1,194,000.

Sales and Marketing

Sales and marketing costs for the six months ended October 31, 2014 were $9,632 compared to $0 for the comparable period in 2013.

Depreciation

Depreciation expense for the six months ended October 31, 2014 was $2,015 compared to $0 for the comparable period in 2013.

Other Income (Expense)

Other expense for the six months ended October 31, 2014 was $211,324 compared to $0 for the comparable period in 2013, primarily a result of interest expense associated with our debt funding.

Net Loss

Net loss for the six months ended October 31, 2014 was $1,699,842 compared to $12,226 for the comparable period in 2013.

Liquidity and Capital Resources

We are dependent upon obtaining additional financing in order to adequately fund working capital, infrastructure, expansion expenses and significant marketing/investor related expenditures to gain market recognition, so that it can achieve a level of revenue adequate to support our cost structure, none of which can be assured. We believe that we will need approximately $2 million over the next twelve months. While initial operations have been funded with private placements of equity and bridge loans, there can be no assurance that adequate financing will continue to be available, and, if available, be on terms that are favorable. As of October 31, 2014, we had approximately $27,092 on deposit.

As of October 31, 2014, our working capital was $21,250, our accumulated deficit was $1,955,234, and our stockholders’ deficit was $42,622. Operating loss was $1,124,085 and $1,701,770 for the three and six months ended October 31, 2014, respectively.

We reduced our net cash flows used in operation by $145,622, or 64%, during the quarter ending October 31, 2014 and we expect to improve upon it further during the quarter ending January 31, 2014 as the Mountain Vista increases its occupancy during the winter months; however, due to conditions and influences out of our control, including the current state of the national economy, we cannot guarantee that this improvement will be achieved or that it will be achieved in the stated time frame, nor is there any assurance that such an operating level can ever be achieved.

Off-Balance Sheet Arrangements

As of October 31, 2014, we had no material off-balance sheet arrangements.

In the normal course of business, we may be confronted with issues or events that may result in a contingent liability. These generally relate to lawsuits, claims, environmental actions or the actions of various regulatory agencies. We consult with counsel and other appropriate experts to assess the claim. If, in our opinion, we have incurred a probable loss as set forth by generally accepted accounting principles in the U.S. (“GAAP”), an estimate is made of the loss and the appropriate accounting entries are reflected in our financial statements. After consultation with legal counsel, we do not anticipate that liabilities arising out of currently threatened lawsuits and claims, if any, will have a material adverse effect on our financial position, results of operations or cash flows.

Critical Accounting Estimates

Please refer to our Annual Report on Form 10-K for the year ended April 30, 2014 filed with the Commission on August 13, 2014, as amended thereto on August 29, 2014, and incorporated herein by reference, for detailed explanations of our critical accounting estimates, which have not changed significantly during the three months ended October 31, 2014.

New Accounting Pronouncements

There have been no material changes to our significant accounting policies as summarized in our Annual Report on Form 10-K for the year ended April 30, 2014. We do not expect that the adoption of any recent accounting pronouncements will have a material impact on our condensed consolidated financial statements.

 

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