Medical Marijuana Inc (OTCMKTS:MJNA) is a penny player in the cannabis patch that’s been on everyone’s radar for some time. The stock has been finding clear resistance overhead in the $0.15-0.20 area so far in 2017. Given that their PR machine has been very active, this isn’t a terrific sign for current shareholders. However, the company is more geographically diversified than its competition and has some new catalysts in play. The most recent key drivers for the company are two new items.
First is its announcement that its subsidiary, Kannaway, LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, held an exclusive Red-Carpet Event in Phoenix, Az., this weekend. The Red-Carpet Event provides a unique opportunity to network with top Kannaway leaders, the company’s executive team and fellow business owners. Secondly, its subsidiary HempMeds Brasil was featured in a Veja.com news article discussing that ANVISA permitted the usage of the company’s hemp oil product, Real Scientific Hemp Oil (RSHO) for patients suffering from the debilitating effects of 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.
Find out when $MJNA stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
Attendees for the weekend event heard from executive team members, including Kannaway CEO Blake Schroeder, President Brad Tayles and CEO of Kannaway parent company Medical Marijuana, Inc., Dr. Stuart Titus. Additionally, the Red-Carpet Event will provide Kannaway business owners with exclusive opportunities to accelerate their success as brand ambassadors, by hearing from some of our top leaders and income earners.
As for the article: “The recent article by Veja really highlights the vital need for our products in the lives of those suffering from conditions like Alzheimer’s Disease,” said Medical Marijuana Inc. CEO, Dr. Stuart Titus. “Slowly but surely, because of wide reaching articles like this, the world is beginning to realize the benefits of CBD hemp oil products on diseases and disabilities that are oftentimes uncured. We applaud the nation of Brazil, and their health authority in taking proactive measures to see that our products get to those that need it most. Our company looks forward to continue in our efforts with Brazil, and around the world to ensure that those who continue to suffer are brought the relief they so desperately deserve.”
Currently trading at a market capitalization of $406.8M, MJNA has a reserve ($406K) of cash on the books, which stands against 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%. We will update the story again soon as developments 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!