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Thursday, January 27, 2022

The Skeptics Guide to Medical Marijuana Inc (OTCMKTS:MJNA)

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We continue to be long-term skeptical and bearish on shares of Medical Marijuana Inc (OTCMKTS:MJNA). This has been our position now since mid-2018. Since that time, the stock has fallen about 90%, and we would see no reason to believe the next 90% down isn’t on the way. That comes despite the fact that the company just announced that its subsidiary Kannaway has launched a new cannabidiol (CBD) product, its Hemp + Calm Oral Applicator, in Europe. This product is the Company’s first product available in Europe that is made using its Blue Label Real Scientific Hemp Oil (RSHO).

According to the release, “each Kannaway Hemp + Calm Oral Applicator contains 2,000 mg of CBD from broad-spectrum hemp oil. The CBD used in the product is derived from non-GMO hemp, scientifically extracted using a solvent-free CO2 process, and quality-certified through the Company’s Triple Lab Testing® process to deliver the potential natural benefits of hemp CBD.”

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 Kannaway has launched a new cannabidiol (CBD) product, its Hemp + Calm Oral Applicator, in Europe.

The stock has suffered a bit of late, with shares of MJNA taking a hit in recent action, down about -32% over the past week. What’s more, the name has seen a jump in recent trading volume to the tune of 58% above the average volume levels in play in this stock over the longer term.

“Europe has proven to be our largest market since we launched across the continent in 2018,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “As the European CBD market continues to grow exponentially, we intend to continue innovating and launching new products that fit the needs of European consumers.”

Currently trading at a market capitalization of $50M, MJNA has a significant war chest ($6.5M) of cash on the books, which compares with 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%. 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.

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