Tuesday, September 24, 2013

Bud Bubbles - Marijuana Money's in Leasing, Not Farming

By David Downs
Tue, Sep 24, 2013 at 9:44 AM

The Wall Street Journal's CFO Journal Blog reported Monday that a former Colorado gambling bookkeeper turned medical marijuana bookkeeper is the new chief financial officer of Advanced Cannabis Solutions Inc. Christopher Taylor will oversee Advanced Cannabis Solutions' efforts to use "investment funding to purchase properties where the drug is made or sold, and lease the facilities back to the owners."

The thinly traded Advanced Cannabis stock "has more than doubled since the announcement and traded recently at $4.25 apiece, giving the company a market capitalization near $60 million" despite having only $4,000 in sales for the June quarter.

Frothy!

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