As long-time readers can attest, we haven’t really been big fans of Medical Marijuana Inc (OTCMKTS:MJNA). The company continues to avoid audits or uplisting despite being publicly traded for well over a decade and claiming large revenues and financial complexity. That makes it awfully hard to trust the company about what’s going on under the hood. And that trust is the linchpin of sustained share price performance. That said, the company does have some interesting things going on, including expansion in the CBD boom. As a case in point, the company just announced that its brand, Real Scientific Canada will be launching across Canada, through Canadian extraction and formulation company Salvation Botanicals, Ltd.
According to the release, “On October 17, Real Scientific Canada will be introducing several of its cannabis products, including internationally-recognized Real Scientific Hemp Oil (RSHO). Real Scientific Hemp Oil was the first CBD product line in the U.S. to be sold over state lines and the first to receive import permits in Paraguay, Mexico and Brazil.”
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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As noted above, MJNA just announced that Real Scientific Canada will be launching across Canada through Canadian extraction and formulation company Salvation Botanicals.
“Not only do we strive to grow as a company through international expansion, but we also hope to aid the growth of the global cannabis market to help expand access to cannabis for all,” said Medical Marijuana, Inc. Chief Executive Officer Dr. Stuart Titus. “We recognize our customers’ ever-growing needs for cutting-edge products and we aim to meet them in this new legal recreational market in Canada.”
In all, we’ve continued to see relatively flat action from shares over the past week, month, and year – pretty much as far back as you want to scroll your chart. But, with more going on, it will be interesting to see if the crowd starts to “find” this stock.
“We are looking forward to working alongside Salvation Botanicals to bring these new, high-quality products to the local consumer in Canada,” said Medical Marijuana, Inc. Director of Canadian Operations, Kenneth Smith. “It is an exciting time not only for the industry but for the brand. We hope to set an example for best business practices in this new market.”
At this time, carrying a capital value in the market of $292.96M, MJNA has a significant war chest ($3.8M) of cash on the books, which is balanced by about $2.1M in total current liabilities. MJNA is pulling in trailing 12-month revenues of $42.5M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 159.5%. 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.