We continue to view Medical Marijuana Inc (OTCMKTS:MJNA) as a company that has failed to respect the average investor. How else do you report $42.5M in trailing 12-month sales and top-line y/y quarterly revenue growth of 159.5% while remaining a pink sheet company and refusing to produce audited financial results? The consequences are just what we see now – a stock that, even with this seemingly strong numbers, continues to get crushed.
To help ameliorate this dynamic, the company just announced that its subsidiary Kannaway has released its new hemp-based CBD (cannabidiol) Kannaway Pure Liquid Flavored Trio. According to the release, “Kannaway Pure Liquid Flavored Trio adds a fresh set of festive flavors to the company’s expansive portfolio of CBD products. Each Pure Liquid Flavored Trio includes three 1 oz. bottles with 100 mg of CBD each. The three flavors included are: Pumpkin Spice, infused with baking spices and sweet pumpkin; Gingerbread, with delicious cinnamon, clove, and ginger flavors; Chocolate Mint, which combines decadent chocolate and refreshing mint for a perfectly flavored treat.”
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, MJNA just announced that its subsidiary Kannaway has released its new hemp-based CBD (cannabidiol) Kannaway Pure Liquid Flavored Trio.
Recent action has seen -7% stripped out of share values of the company over the past week of action. In addition, the name has seen interest climb, with an increase in recent trading volume of 4% over the long run average.
“We are delighted to announce the release of our three new flavors just in time for the holiday season,” said Kannaway CEO Blake Schroeder. “This new product set is ideal for those who want a festive twist for their CBD intake this holiday season, or for those who want to try a delicious CBD alternative for the first time.”
Earning a current market cap value of $228.55M, 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%. 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.