Another name that has been sprinting higher off news of the passage of the Farm Bill is Medical Marijuana Inc (OTCMKTS:MJNA). To further color the narrative, the company also just announced that it will be sponsoring and exhibiting its line of cannabidiol (CBD) hemp oil animal products at Fetch DVM360, taking place in San Diego from Dec. 13-16. According to the release, Stephen Cital, Phyto Animal Health Advisory Board Member, will also be at the conference and will be giving three different presentations about cannabis for pets.
“We are proud to be exhibiting and speaking at Fetch DVM360, as the conference aims to educate veterinarians and pet owners on the most recent science behind animal health, including the benefits of hemp CBD in animal treatment,” said Phyto Animal Health CEO Ian Quinn. “Phyto Animal Health is proud to offer our line of premium hemp CBD products to owners aiming to give their pets the highest quality of life.”
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 it will be sponsoring and exhibiting its line of cannabidiol (CBD) hemp oil animal products at Fetch DVM360, taking place in San Diego from Dec. 13-16.
We’ve witnessed 41% tacked on to share pricing for the company in the past week. In addition, the stock has seen interest climb, with an increase in recent trading volume of approaching 150% above the average volume levels in play in this stock over the longer term.
“I look forward to representing Phyto Animal Health at Fetch DVM360 and educating fellow veterinarians and pet owners on the benefits of hemp CBD for pets, including how it can be used in pain management,” Cital said. “I believe that with more public education on this topic, access will improve and cannabis research for animal use will become more abundant.”
Currently trading at a market capitalization of $331.87M, MJNA has a significant war chest ($4.8M) of cash on the books, which is balanced by about $4M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $51.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 116.2%. We will update the story again soon as developments transpire. 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.