ACE

OTC
2 Employees.
Market CAP $76M
P/B 162X
$24,000 in cash, $3.1M debt. 0.02 book value. (may not reflect recent $2M equity)

"design, construction, and financing to marijuana operators in the United States. The company was formerly known as Nevada Health Scan, Inc. and changed its name to AmeriCann, Inc. in February 2014. AmeriCann, Inc. was founded in 2010 and is based in Denver, Colorado."

12 Jan 2017 10-Q.
LIQUIDITY AND CAPITAL RESOURCES

Sources of Liquidity

As of September 30, 2016, we had borrowed $2,024,297 from a Company controlled by Benjamin J. Barton, one of our officers and directors. The balance consists of two separate notes, as follows:

? Convertible note of $1,000,000, net of premium of $284,229. Bears interest at 9.5% payable quarterly. The total outstanding principal balance and any accrued and unpaid interest is due on December 31, 2019. SCP has the option to convert all or any part of the principal amount into fully paid and non-assessable shares of the Company's common stock at a conversion price of $1.25.

? Secured note of $931,646, net of discount of $211,578. Bears interest at 8% payable quarterly. The total outstanding principal balance and any accrued and unpaid interest is due on December 31, 2019. The note is secured by: 1) a second lien on the Company's property in Denver, Colorado, and 2) the Company's claims against WGP.

As of September 30, 2016, we had borrowed $990,000 from a third party. The loan bears interest at 18% and is due March 15, 2017.

As of September 30, 2016, we had borrowed $203,247 from various third parties. The interest rates on these notes range from 8% to 18%, due dates range from December 14, 2016, through January 15, 2016, and $75,000 is convertible into the Company's common stock at a conversion price of $0.75.

In November 2016, we raised $2,000,000 in equity financing through the sale of 2,000,000 Units at a price of $1.00 per Unit. The Units were sold in a private offering to a group of accredited investors. Each Unit consists of one share of our common stock and one Series I Warrant. Each Series I Warrant allows the holder to purchase one share of our common stock at a price of $3.00 per share at any time on or before November 4, 2020. The offering provided us with $2,000,000 in gross proceeds and the potential for an additional $6,000,000 in proceeds from the exercise of the Series I Warrants. The proceeds from the placement will be used for our MMCC development, to pursue new opportunities in California, Pennsylvania, Florida and other states, and for general corporate purposes.

target 0.08