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Friday, October 30, 2020

Dynamic Medical Marijuana Inc (OTCMKTS:MJNA) Holds The Line

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Medical Marijuana Inc (OTCMKTS:MJNA) is a penny player in the cannabis patch that has notoriously remained on the pink sheets with completely unaudited financial results despite claiming sales of over $10M over the past twelve months. In our experience, no other company has had the audacity to enlist that much credulity from the investing public. MJNA is remarkable mostly for this dynamic.

As far as recent catalysts go, the most recent press release out of MJNA is that its subsidiary HempMeds Mexico participated in the LX Annual Meeting and National Congress of the Mexican Chapter of the International League Against Epilepsy, which took place in Tijuana, Mexico. Here is a snippet: “HempMeds Mexico provided information about cannabinoid products for the treatment of neurodegenerative conditions, such as epilepsy, as well as the results obtained by Mexican doctors using the first cannabis based treatment approved in Mexico that is the Company’s Real Scientific Hemp Oil-X (RSHO-X).”

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.

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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.

MJNA 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.sportswear and more.”

Shares of MJNA have been listing sideways over the past year or so, with the dime level as the defining point on the chart. Our sense is this will likely eventually break to the downside in a bearish descending triangle break given the spirit of how this company is handling its affairs: tons of investment on the PR side, very little investment in real operations, a historical pattern of massive dilution, and an unwillingness to mature into a respectable entity off the pink sheets and in the auditor’s office. That’s a recognizable pattern for experienced OTC traders, and it should be visible here.

Nonetheless, according to the release, Mexican pediatric neurologist Dr. Saul Garza Morales presented information from a study involving 39 patients with Lennox-Gastaut syndrome, a severe form of pediatric epilepsy that typically develops before the age of four. Of those 39 patients, which took up to 5-7mg CBD/kg progressive doses of RSHO-X 5000MG, 84% experienced reduction in motor seizures; 53% reported better than a 75% reduction in seizures; and 17% reported a complete elimination of all seizures over a 4-month period, with zero reported side effects.

“This was an incredible opportunity to meet with other doctors and discuss the latest research in the cannabinoid space,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “It was wonderful to see presentations made regarding the Endogenous Cannabinoid System and view some of the emerging science behind cannabinoids and effects upon the neurological systems.”

The chart shows 3% during the past month in terms of shareholder gains in the company, but that move comes in the context of a larger bearish trend. Market participants may want to pay attention to this stock. MJNA has a history of dramatic rallies. In addition, the listing has seen interest climb, with an increase in recent trading volume of 16% above the average volume levels in play in this stock over the longer term.

Currently trading at a market capitalization of $334.40M, MJNA has a reserve ($1.2M) of cash on the books, which stands against about $802K in total current liabilities. MJNA claims to be pulling in trailing 12-month revenues of $10.1M, though these are fully unaudited results from a pink sheet company, which means this is more of a suggestion than a financial fact. To the extent one wishes to accept these numbers as an approximation of reality, then they would imply major top line growth, with y/y quarterly revenues growing at 135.2%. You can bet we will update this one again as new information comes into view. 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!

Disclosure: we hold no position in $MJNA, either long or short, and we have not been compensated for this article.

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