When MJNA announced the Kannaway transaction, it pointed to a valuation analysis done by Houlihan Capital that suggested the Kannaway is worth $120-$243mm approximately. The company didn't release anything that would support this ludicrous valuation, nor did it give the terms of the transaction at the time. I shared my initial thoughts then:
MJNA: It's What They Didn't Say About Kannaway That Should Make You Run Away
Today, I will review that valuation report and the deal, which gives up approximately half the company to the owners of the brand-new MLM company, which includes Stuart Titus (General Hemp) but also likely Michael Llamas and Michelle Sides. The source of the report is public records from a trial between Kannaway and CannaVest over the "Cannabis Beauty Defined" trademark and brand.
Here is a quick summary of my views as well as a copy of the slides