This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Marijuana Tour Operator Goes Public Via Reverse Merger

NEW YORK (TheStreet) -- First, failed online "chat systems." Now: marijuana tours!

Yep, that's the new business plan for Pladeo Corp (PLAD), which just acquired a string of marijuana entertainment businesses, according to a regulatory filing on Friday. 

Incorporated in Nevada 2012 "for the purpose of developing online chat systems free of charge," Pladeo, which doesn't have any profits, has issued at least 2.5 million shares in order to buy four marijuana entertainment businesses known collectively as Mary Jane Group. These include Mary Jane Tours, Mile High Times, Dab City Radio and Mary Jane Entertainment.

As part of its description of the various businesses, the filing states

Must Read: Rep. John Delaney Defends Fannie and Freddie Profit "Sweep"

Mary Jane Entertainment is conveniently located off a major highway. Our radio program reaches thousands of listeners and Mile High Times is distributed to marijuana-related businesses. This keeps our brand in the forefront through multiple channels of distribution.

But it's the limo and bus tours that for some reason capture my imagination. Here's the pitch on

Do you consider yourself a connoisseur of high-grade cannabis? Whether you're a pro-smoker with Michael Phelps' lung capacity or just a good ol' fashioned stoner, the Up In Smoke Tour is just the right fit for you!

At $109 per person or $199 for couples, this is the cheapest option. Pricier tours include the Chronic Art Tour, "a night of creativity, community and Cannabis," where you get to create art alongside Vincent Gordon whose "work is wildly imaginative and pulls from a comic sense of ridiculousness, irony and social commentary." Only $249!

The impact of this transaction on shares of Pladeo is a bit difficult to gauge, since the company's stock has never traded, according to Friday's filing, even though Pladeo received its ticker symbol, "PLAD" on the OTCQB market on April 12 2013. The idea, though, is that the Mary Jane Group owners get at least $1 million worth of Pladeo shares. So if the 2.5 million shares don't add up to $1 million (40 cents a share) in a year's time, they'll get more.

In the same filing, Pladeo also announced it had acquired a company called Capital Growth Corp. (CGC), which, "organized on February 4, 2014, 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."

To buy CGC, Pladeo issued another 5 million shares and warrants to acquire roughly 1.5 million more. Most of the shares will go to Joel Schneider, who took over as CEO Feb.27, replacing Lisbeth Guerrero. Schneider acquired 8 million shares, or more than 77% of the shares outstanding at the time.

Schneider and two other newly-named Pladeo officers, COO Jose Ramirez and LaRon Bradford, vp and director of sales and marketing, state that all three will earn "$100,000 through December 31, 2014, $125,000 for calendar year 2015, and $150,000 for the remaining term of the Employment Agreements," plus expenses, according to the filing.

Follow @dan_freed

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PLAD $0.01 0.00%
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs