Medical Marijuana Inc (OTCMKTS:MJNA) is a central brand in the cannabis patch. The stock has performed very well in this important year for the space. We’ve seen renewed strength in recent weeks with an extra pop late this past week as the company announced that its subsidiary company HempMeds has formed a new business in Chile. Additionally, as part of the company’s Latin American market expansion initiative, the company has begun importing their flagship product Real Scientific Hemp Oil (RSHO) to Argentina.
The chart shows 9% piled on for shareholders of the company during the past week. The situation may be worth watching. MJNA has a history of dramatic rallies. Moreover, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed 18% beyond its prior sustained average level. Since we last covered the name, the stock has moved 9.5% higher.
Medical Marijuana Inc (OTCMKTS:MJNA) trumpets itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.
Medical Marijuana Inc. is the first publicly held company vested in the medical marijuana and industrial hemp markets.
According to company materials, “The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries. These products range from patented and proprietary based cannabinoid products, to seed and stalk or isolated high value extracts specifically manufactured and formulated for the pharmaceutical, nutraceutical and cosmeceutical industries. The Company’s services are extensive and varied, ranging from medical clinic management to the capitalization and development of existing industry business and product leaders. Services include development of cannabinoid based health and wellness products, and the development of medical grade compounds. MJNA provides over 85 proprietary and patented cannabinoid delivery methods that are more socially and medically acceptable than typical industry methods. Finally, MJNA services include the licensing of its proprietary testing, genetics, labeling, and packaging, tracking, production and standardization methods for the medicinal herb industry.”
Medical Marijuana, Inc. was formerly known as Hemp Deposit Distribution Corp. and changed its name to Medical Marijuana, Inc. in March 2011. The company was incorporated in 2003 and is headquartered in Poway, California.
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As noted above, Medical Marijuana Inc. is starting to make a dramatic expansion into Latin America.
This move comes after the company received the first-ever federal approval from COFEPRIS to import a cannabis product into Mexico, along with two other historic first-ever approvals to import RSHO™ into Brazil and Paraguay.
“We are proud to be building a business in Chile and expanding our distribution of HempMeds® RSHO™ into more countries in Latin America. Other countries in the region such as Brazil, Paraguay and Mexico have legalized CBD products for the treatment of multiple medical indications, so developing a business presence in Chile and a distribution network into Argentina seemed like the best logical direction,” said Chief Executive Officer of Medical Marijuana, Inc., Dr. Stuart Titus. “We are excited about the new venture and look forward to helping develop new economic opportunities for the people of Chile and Argentina.”
At this time, carrying a capital value in the market of $367.9M, Medical Marijuana Inc. has a decent store ($266.17k) of cash on the books, which compares with an appreciable load ($13.67M) of total accumulated debt. MJNA is making real money, with trailing 12-month revenues coming in at 9.22M. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!