Medical Marijuana Inc (OTCMKTS:MJNA) just announced that the company and its subsidiaries Kannaway, HempMeds Mexico, and HempMeds Brasil generated the largest-ever (unaudited) revenue year in its history in 2018, as well as the reaching major milestones in its business operations.
“We are excited to have surpassed our growth and revenue goals for this year,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “By breaking our annual sales record (unaudited) and investing in our future expansion efforts, we can provide our shareholders with an optimistic forecast for our future success.”
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 the company and its subsidiaries Kannaway, HempMeds Mexico, and HempMeds Brasil generated the largest-ever (unaudited) revenue year in its history in 2018, as well as the reaching of major milestones in its business operations.
Traders will note basically flat action for share values of the stock over the past week of action. Moreover, the name has seen interest climb, with an increase in recent trading volume of 65% beyond its prior sustained average level. That could be an interesting signal, but may have more to do with the advent of the new calendar trading year than anything else.
“The Company and its subsidiaries have worked very hard to further international access to CBD and create the highest quality products on the market,” said Medical Marijuana, Inc. COO Blake Schroeder. “Our expansion into Europe and Latin America in 2018 will move our Company and its unique vision forward in 2019.”
Currently trading at a market capitalization of $317.35M, MJNA has a significant war chest ($4.8M) of cash on the books, which must be weighed relative to 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%. 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.