Medical Marijuana Inc (OTCMKTS:MJNA) is a really exciting Company seeing big success in the booming cannabis space. MJNA has seen its revenues skyrocket recently reporting Q3 2018 sales booked exceeded $19 million, an increase of more than 145% over Q3 2017. Kannaway® The stock is a volume leader with a long history of huge moves.
MJNA is at the right place at the right time; Cannabis is booming; according to a recent report from Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe and spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. Of course much of this hinges on how laws progress
Medical Marijuana Inc (OTCMKTS: MJNA) bills itself as the first-ever publicly traded cannabis company in the United States. The Company mission is to be the premier cannabis and hemp industry innovators, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. MJNA says they strive to create awareness within their industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. We have written about MJNA many times before like here.
MJNA is a major producer of cannabidiol (CBD) products in the U.S., Europe, Latin America and, as the company announced just last month, is expanding to Canada. Its distribution subsidiaries Kannaway®, HempMeds®, Dixie Botanicals, and Phyto Animal Health provide customers with a variety of oral, topical and edible CBD products that are Triple Lab Tested™ to ensure the highest standard of quality and consistency.
According to MJNA CEO Dr. Stuart Titus “Our company is growing larger and faster than we could have ever imagined. We’re happy to not only see our company entering new markets and revenue increasing exponentially every month, but it’s also been rewarding to see how we’ve become a major contributor to the expanding global support of cannabis.” MJNA portfolio includes HempMeds, Kannalife, Kannaway, wellnessManaged Services, Phyto Animal Health, MPS International, HempMeds Brazil, HempMeds Mexico.
Last week MJNA announced the company and its subsidiary Kannaway® have booked their largest-ever sales revenue quarter in their history in Q3 2018, as well as reached major milestones in their business operations. Medical Marijuana, Inc. Q3 2018 sales booked exceeded $19 million, an increase of more than 145% over Q3 2017. Kannaway® Q3 2018 sales booked exceeded $16 million, an increase of more than 200% over Q3 2017.
The company experienced many accomplishments in Q3 including its 2018 revenue surpassing its total 2017 revenue in July 2018, signing an agreement with Canadian extraction and formulation company Salvation Botanicals, Ltd. to bring Medical Marijuana, Inc.’s products to Canada, and its subsidiary HempMeds® hiring a new company president.
MJNA owns 22.67 million shares of AXIM or about 43% of the Company. AXIM trades on the OTCBB at $1.75 per share and MJNA investment is worth $40 million at current market value. Axim Biotechnologies, Inc. is an innovative biotechnology company working on the treatment of pain, spasticity, anxiety and other medical disorders with the application of cannabinoids based products.
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MJNA subsidiary Dixie Botanicals® released new cannabidiol (CBD) gel capsules last month, the first of their kind for the company. Dixie Botanicals® CBD Gel Caps are each filled with the company’s award-winning full-spectrum hemp oil containing 25 mg of CBD and medium chain triglyceride (MCT) oil derived from wholesome coconut oil to boost absorption. The gel caps are all-natural, minimally processed and have undergone a Triple Lab Tested™ process to verify they are free of contaminants and contain reliable levels of CBD.
Earlier this month MJNA it has launched its newest brand, Dixie Botanicals Canada®, partnering with Canadian extraction and formulation company Salvation Botanicals, Ltd. (“Salvation”). Dixie Botanicals Canada® will be introducing its line of cannabidiol (CBD)-only, consumer-friendly products to the recently legalized Canadian cannabis market. All Dixie Botanicals Canada® products are crafted using expertly cultivated and scientifically-extracted cannabis oil and will be available in a variety of delivery methods including liquids, capsules, and oral sprays.
On October 17 MJNA subsidiary Kannaway®, the first direct selling company to offer cannabidiol (CBD) hemp botanical products, has a new Kannaway® Connect app. The new mobile application is designed to make it easier than ever for Kannaway® Brand Ambassadors to connect with prospective customers to build their businesses.
Kannaway® Connect allows Brand Ambassadors to quickly connect with people using the latest technology and communications tools, check their events calendar, manage their back office and more. Brand Ambassadors can also use the app to share training and educational videos about Kannaway® with ease.
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Currently trading at a $290 million market valuation MJNA has $3 million in the treasury and is doing huge sales recently announcing Q3 2018 sales booked exceeded $19 million, an increase of more than 145% over Q3 2017. Kannaway®. These are huge numbers for the OTCBB. MJNA also holds $40 million in AXIM stock at current market values. At the same times MJNA carries significant debt on the books and note holders continue to be a serious drag on the share price. MJNA also has been pink for a long, long time and has yet to get their filings in order or up list to the OTCBB. This continues to be a big problem for the Company. 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 including Dateline NBC, The History Channel, BuzzFeed, Forbes, The Street, TMZ, Benzinga, Leafly, Chicago Tribune, Shape Magazine, Medium, Bustle, Vice and more. There is huge demand for MJNA and the stock regularly tops $500k in dollar volume per day, once dilution stops MJNA could once again make an explosive move like it has done so many times before. 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.