In the last trading session, the stock price of MaryJane Group Inc(OTCMKTS:MJMJ) declined 50% to close at $0.00010. The decline came at a share volume of 23.47 million compared to average share volume of 86.40 million.

The highlights

MaryJane reported its last financial report in March for the quarter ending January 31, 2016. Net revenue for the quarter came at $196,384 against $140,086 in the same period in 2015, showing a jump of 40%. The net revenue came at $114,203 against net revenue of $301,587 in the quarter closed, representing a decline of 37% from the preceding fiscal quarter. This decline is mainly an outcome of declined revenue from company’s bed and breakfast businesses. The management thinks it as a direct outcome of slower marijuana tourism period in Colorado.

Cost of revenue for the quarter closed January 31, 2016 came at $198,883 against $122,269 in the same period in 2015. The cost of revenue dropped by $15,897 from $214,780 in cost of revenue during the quarter closed October 31, 2015. It indicates that cost of revenue as a fraction of sales for the quarter closed January 31, 2016 came at 101% against 87% for the quarter closed January 31, 2015. The decline in gross profit can be attributed to the additional costs pertaining to the businesses of the Hotel San Ayre and declined revenue at both the Hotel San Ayre and Adagio.

General and administrative expenses for the quarter closed January 31, 2016 came at $25,457 compared to $92,603 in the same period in 2015.MaryJane reported that sales and marketing costs for the quarter closed January 31, 2016 amounted to $6,702 against $5,789 in the same period in 2015. Depreciation cost for the quarter closed January 31, 2016 came at $2,501 against $1,764 for the comparable period in FY2015.

Other expense for the quarter closed January 31, 2016 came at $194,729 versus $299,894 for the same period in 2015, mainly a result of loan closing and interest expense costs related with financing activity.