WeedMaps.com Profits Wilt In First Quarter 2011

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Some people may be shocked to learn the pink sheets list several publicly traded cannabis companies. At the front of the pack is General Cannabis, Inc. more popularly known as WeedMaps.com, which netted $4,000 on $2.7 million in revenue for the first quarter ending March 31, it reports this week. In WeedMaps’ defense, they had to move to new, Newport Beach, Calif. digs. CANA is down 9 percent today to $3.39 a share, with 83 million shares outstanding. In other news: nascent marijuana groupon schemes get some fresh ink.

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