Medical Marijuana Inc (OTCMKTS:MJNA) is on a steady rise in recent days on accelerating volume after another test near its $0.0275 lows established in October. MJNA is one of the original pot stocks to trade on the bb’s and they are masters at selling the sizzle on the pot sector as well as getting itself featured by mainstream media resulting in a history of big moves.
MJNA is the place to be when pot stocks heat up and there are plenty of catalysts to suggest they will again soon; Canada’s new prime minister promising legalization immediately, DEA being told by California judge to stop interfering with dispensaries, billionaire Richard Branson suggesting a decriminalization amendment in the U.N, 6,000 non-violent drug offenders released Nov 1st, Australia lifting ban on medical MJ, New York opening medical MJ dispensaries January, Colorado revenues increasing etc.
Medical Marijuana Inc (OTCMKTS:MJNA) 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. They strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value.
MJNA most profitable division is HempMeds, an exclusive master distributor for MJNA that provides cannabidiol (CBD) products made from industrial hemp that are already available in all 50 states and more than 40 countries. The unit boasts fast growing revenues and reported $2,876,438 in sales in Q3.
MJNA says their HempMeds™ sales operation has been greatly streamlined and they have cut back on inefficient expenses. The world is waking up to the vast untapped potential of cannabinoid-rich hemp oil and our flagship product, Real Scientific Hemp Oil™ (RSHO™), continues to show increasing demand. Combining our reduced manufacturing costs with improving demand from lower retail prices – we expect to see improving gross margins as the year progresses. Over the course of the last year we have been able to decrease our retail sales price by over 30% while still increasing margins and overall volume.”
Several Months ago Project CBD, a California educational nonprofit that focuses on cannabis science and therapeutics published an article called HEMP OIL HUSTLERS; Medical Marijuana Inc., HempMeds & Kannaway that has raised a stir especially with MJNA management who filed a $100 million lawsuit. As per the recent shareholder letter ”To date, two parties have settled in our litigation.”
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In September MJNA announced it has signed a U.S. manufacturer for sourcing of its Gold Label cannabidiol (CBD) hemp oil brand Real Scientific Hemp Oil™ (RSHO™). The sourcing agreement is for a minimum of $2,500,000 USD for a 12-month period. The first two months of the contract have already been sold, shipped and processed.
CEO Stuart W. Titus, PhD stated “The Company has been working diligently on developing the appropriate sales and distribution strategies. This is part of our strategy to scale and grow HempMeds’ sales and bring significant new revenue into the Company. This is the second major contract the company has executed in the past few months, first was the launch of Korea sales channels and this is the second. Our team has been working very hard to secure and develop additional large scale contracted supply agreements in order to diversify our sales channels.”
On December 22 MJNA announced a joint effort with investment portfolio company Kannalife Sciences, Inc. (“Kannalife”) to open an opportunity for the public to “show their green” and participate in a fundraiser for research driven by Kannalife at Temple University for the potential use of cannabidiol as a treatment for chronic traumatic encephalopathy (CTE). CTE is the deadly concussion-related disease plaguing a high percentage of current and retired NFL football players and athletes participating in concussion-related sports.
As part of the fundraising initiative, Medical Marijuana, Inc. and Kannalife have co-sponsored and launched the “Show Your Green” public service announcement (PSA) to create awareness of CTE. Executives from both companies also explained to radio listeners on the U-T Community Spotlight radio show how to make a difference through medical research by visiting treatCTE.org.
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Currently trading at a $78 million market valuation MJNA has a long history of losses that has resulted in a massive debt problem that has caused and will continue to cause significant dilution. But MJNA is one pot stock to watch when the sector heats up; they are masters at selling the sizzle on the pot sector as well as getting themselves featured by mainstream media, in the past this has resulted in spectacular short term moves. We will be updating on MJNA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJNA.
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Disclosure: we hold no position in MJNA either long or short and we have not been compensated for this article.