We continue to note the action in Medical Marijuana Inc (OTCMKTS:MJNA), and the stock’s mysterious inability to respond well to a stream of seemingly positive catalysts. One would think, given the company’s recent announcements, that shares would not still be struggling to hold onto the dime level. But alas, that continues to be the scenario MJNA shareholders face. Nonetheless, we have a number of strong themes in place, particularly in terms of expanding the company’s current scope of business.
As a case in point, the company recently announced that its subsidiary Kannaway has released a Tetrahydrocannabinol (THC)-free cannabidiol (CBD) hemp oil for pets called Dante’s Pure Hemp Oil. According to the release, “Dante’s Pure Hemp Oil is a THC-free CBD hemp oil that contains 1000 mg of CBD combined with MCT oil. This product offers an abundant number of terpenes, essential fatty acids and other cannabinoids found naturally in hemp. Its blend is all-natural and is Triple Lab Tested™ for integrity, safety and consistency.”
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.”
Find out when $MJNA reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, the company recently announced that its subsidiary Kannaway has released a Tetrahydrocannabinol (THC)-free cannabidiol (CBD) hemp oil for pets called Dante’s Pure Hemp Oil. This is the bow shot for the company’s firm move into the CBD-for-pets space, which is thriving and set for major future growth. So, don’t discount this shift. The stock hasn’t responded, but this could be an important factor going forward.
Traders will note -6% stripped out for shareholders of the name during the trailing week. In addition, the stock has registered increased average transaction volume recently, with the past month seeing 12% above its longer-run average levels. We generally don’t like to see increasing volume on declines, so this is something to appreciate.
“We are excited to announce this new product at a time where there is an increase in studies being conducted on the therapeutic benefits of CBD for a variety of animals,” said Kannaway® CEO Blake Schroeder. “We are proud that our products, no matter if they are for people or pets, are the highest quality and that our company continues to be a leader in the cannabis industry.”
Earning a current market cap value of $288.5M, 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%. We will update the story again soon as further details emerge. 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.