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Friday, October 30, 2020

Medical Marijuana Inc (OTCMKTS:MJNA) Makes Further Inroads Into Brazilian Market

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Medical Marijuana Inc (OTCMKTS:MJNA) is a leader in the MMJ space that we have covered extensively. The stock has continued to see huge interest among investors and traders on the OTC of late. In our most recent piece on the company, we noted the potential significance of their move to get a foot solidly in the door in the Brazilian and Mexican markets. Recent headlines show further progress on this front.

The key here, as we see it, is the fact that this strategy makes MJNA perhaps the only play in the space to have some kind of diversified exposure in terms of end market from a legalization standpoint. In other words, if Jeff Sessions makes a mission of reversing the legalization momentum for marijuana in the US, MJNA is one of very, very few plays that will have some claim to a top line flow that is not vulnerable to that narrative. The most recent press release out of the company is their announcement that the Brazilian government has authorized a doctor’s prescription for the Company’s hemp cannabidiol (CBD) oil product Real Scientific Hemp Oil (RSHO) to treat a patient in the country suffering from Alzheimer’s disease.

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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According to the company’s press release, the authorization from the Brazilian government marks the first time that Brazil’s National Health Surveillance Agency ANVISA has granted the filling of a prescription for RSHO to specifically help a patient combat the effects of Alzheimer’s disease. This comes nearly two years after HempMeds Brasil became the first company to offer legal medicinal cannabis products to Brazil after receiving import approval for those suffering from specific medical conditions.

“We once again commend the Brazilian government for responding to the humanitarian interests of its people by allowing them access to CBD hemp oil products that can treat the symptoms of conditions with no known cure or limited treatment options,” said Dr. Stuart Titus, Chief Executive Officer of Medical Marijuana, Inc. “Early stage research on Alzheimer’s from Dr. David Schubert of the Salk Institute in San Diego shows that cannabinoids reduce both brain inflammation as well as the accumulation of beta-amyloid, a toxic protein buildup that is a hallmark of Alzheimer’s disease. We believe this is the first non-toxic exogenous agent to show such potential for the eventual treatment of this terrible condition that currently costs our US Healthcare system in excess of $225 billion. Our firm remains excited about the future for CBD based products to enter clinical trials for this and other neurological indications.”

Currently trading at a market capitalization of $420.4M, MJNA has a bankroll ($406K) of cash on the books, which must be weighed relative to about $3.9M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.6%. 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!

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