Medical Marijuana Inc (OTCMKTS:MJNA) just announced that its subsidiary HempMeds has partnered with Sezzle, a leading alternative digital payment platform, to offer customers cutting-edge payment alternatives.
According to the release, “HempMeds customers can choose Sezzle at checkout to delay full payment for their items, at zero percent interest. Consumers receive their items right away and Sezzle pays merchants upfront and assumes all repayment risk. Sezzle requires a 25 percent down payment at the time of purchase and the remaining balance is automatically scheduled as three equal-installment payments to be paid every two weeks.”
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 its subsidiary HempMeds has partnered with Sezzle, a leading alternative digital payment platform, to offer customers cutting-edge payment alternatives.
We’ve witnessed 12% tacked on to share pricing for the stock in the past month. Moreover, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 12% beyond its prior sustained average level.
“For many, budgets can be tight during the holidays, and we want to keep working to show our customers that we’re always developing new methods to improve their experience,” said HempMeds President Todd Morrow. “Partnering with Sezzle means that we can provide our customers with an easy way to lift some of the financial burden during this expensive time of year.”
At this time, carrying a capital value in the market of $97M, MJNA has a significant war chest ($6.5M) of cash on the books, which stands against about $10.8M 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 $76.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 5.3%. As more color becomes clear on the name, we will review the situation and update our take. 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.