Politics Continues to Work for Medical Marijuana Inc (OTCMKTS:MJNA)

Politics Continues to Work for Medical Marijuana Inc (OTCMKTS:MJNA)

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As we get further and further into the process of delineating the twists and turns of a policy and protocol for emerging industries surrounding the cannabis patch, Medical Marijuana Inc (OTCMKTS:MJNA) is one stock that seems to find itself constantly in the spotlight. Ever the activist organization, this is a spot the company is more than willing to occupy.

As a case in point, the company announced in recent days that it “applauds the Drug Enforcement Administration (DEA) for its recent statement on the legality of cannabidiol (CBD) — which further clarifies that some CBD products, such as hemp-derived CBD products sold by Medical Marijuana, Inc., are legal to distribute freely throughout the United States and do not fall under the regulations of the Controlled Substances Act (CSA).”

Medical Marijuana Inc (OTCMKTS:MJNA) casts 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.

MJNA’s 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.”

According to company materials, “Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value.”

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“Products and materials that are made from the cannabis plant and which fall outside the CSA definition of marijuana (such as sterilized seeds, oil or cake made from the seeds, and mature stalks) are not controlled under the CSA. Such products may accordingly be sold and otherwise distributed throughout the United States without restriction under the CSA or its implementing regulations.” The statement continued, “The mere presence of cannabinoids is not itself dispositive as to whether a substance is within the scope of the CSA; the dispositive question is whether the substance falls within the CSA definition of marijuana.”

Management for a company that produces precisely this type of product was unsurprisingly quite pleased with the policy lean: “This is great news for the cannabis industry, especially for those who are complying with the decision made by the Ninth Circuit Court of Appeals,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We urge Congress to pass the 2018 Farm Bill, which would permanently remove hemp and hemp products from the purview of the Controlled Substances Act.”

Now commanding a market cap of $331.7M, MJNA has a significant war chest ($4M) of cash on the books, which is balanced by virtually no total current liabilities. MJNA is pulling in trailing 12-month revenues of $33.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 191.6%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $MJNA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout 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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