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Tuesday, October 20, 2020

Cannabis Spotlight on Medical Marijuana Inc (OTCMKTS:MJNA)

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Medical Marijuana Inc (OTCMKTS:MJNA) continues to drift in a long sideways consolidation that runs against the tide of the company’s very aggressive investor relations efforts. The company has been one of the most prolific we have ever seen when it comes to frequency and tone of press releases. But, at the end of the day, this is a pink sheet stock with completely unaudited financials, which is a remarkable fact considering how long it has been in business and how much it claims to make in revenues (over $10M in the last twelve months).

The latest presser out of the company consists of the announcement that its subsidiary, Kannaway LLC, “the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, is holding its largest exclusive Red Carpet event in the Company’s history in New Orleans, Louisiana this weekend. The Red Carpet event provides a unique opportunity to network with top Kannaway leaders, the Company’s executive team and fellow Kannaway business owners.”

Medical Marijuana Inc (OTCMKTS:MJNA) bills 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.

Its subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.

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.

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As noted above, the company just announced its largest-ever “Red Carpet Event” for its Kannaway brand. It’s difficult to say how this type of news translates one way or the other into potential business growth. But it may suggest further brand growth, in which case the company’s monetization strategies will bear the burden of that translation. Needless to say, company execs were no doubt excited about the event.

“We are expecting the largest Red Carpet turnout yet in the history of our Company in New Orleans this weekend, which is testament to the rapid growth and successful path of our organization, plus the growing desire for our CBD products across the globe,” said CEO of Kannaway Blake Schroeder. “We look forward to welcoming our Kannaway family and attendees who are coming to learn from some of the best on how to build a business that can enhance the well-being of others worldwide.”

The chart shows about -3% shaved off of share pricing for the listing in the past week, with the stock remaining in a flat to bearish trend over the past several months. That said, MJNA has evidenced sudden upward volatility on many prior occasions. What’s more, the listing has benefitted from a jump in recent trading volume to the tune of 8% above its longer run average levels.

Earning a current market cap value of $326.5M, MJNA has a reported store ($1.2M) of cash on the books, which stands against about $802K in total current liabilities. MJNA is pulling in trailing 12-month revenues of $10.1M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 135.2%.As noted above, these are unaudited numbers, so we can’t really be sure of their accuracy. They may be pure fiction or completely accurate. There’s just no way of telling. We will update the story again soon as developments transpire. For continuing coverage on shares of $MJNA stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!

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