Medical Marijuana Inc (OTCMKTS:MJNA) continues to drop steadily over the past few months recently falling below $0.10 support on accelerating volume.
MJNA is one of the original pot stocks with a history of huge moves running both in early 2013 and early 2014. This year has not produced the perennial spring run however and MJNA continues lower.
Medical Marijuana Inc (OTCMKTS:MJNA) is one of the first pot stocks that has been around since the beginning. The Company has made a number of acquisitions in the cannabis sector that drive future growth.
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.
Another important division of MJNA is its joint venture company, CanChew Biotechnologies that makes a hemp cannabidiol (CBD) oil-infused chewing gum that has seen a significant amount of media attention including being awarded the Triple Leaf Award from the HealthyLivinG Foundation.
MJNA operates a number of division that offer a diversified set of products and services in the the cannabis and hemp industries. The Company owns or has partial ownership in the following business: Wellness Managed Services 100% Canipa Holdings 80% HempMeds PX 80% Red Dice Holdings 60% CanChew Biotechnologies 50% HempVap™ 50% KannaLife Sciences 16.5%
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On March 4 MJNA annnounced their Cannabis Brands Featured at Natural Products Expo West. The pre continues ”With Virginia, Washington, DC, and Alaska just legalizing medical cannabis, it is clear that consumers are demanding cannabis products from coast-to-coast.
While medical cannabis may not be on the radar of buyers attending the largest natural products industry trade show this week at Expo West, thousands of buyers from around the globe will be honing in on products derived from the hemp plant.
HempMeds is kicking off Expo West with an in-depth natural products report titled Hemp as a Superfood from Seed to Stalk from natural products and cannabis industry expert Dr. Rob “Doc Rob” Streisfeld, NMD. The educational presentation takes place on Friday, March 6th at the Marriott, Platinum Ballroom 3 from 1:00-2:00 p.m. “Doc Rob” will share hemp history, the state of the cannabis industry, a detailed overview of hemp cannabidiol (CBD) oil’s increasing popularity worldwide, and a roadmap for innovations in cannabis consumer and pet products.
HempMeds™ is proudly exhibiting at Natural Products Expo West from booth #1364. There, attendees will see and learn about top hemp cannabis brands including:
Dixie Botanicals™ – the most widely recognized brand in the cannabis industry
aNew Brands™ – the latest hemp CBD-infused functional foods
World-famous Real Scientific Hemp Oil™ (RSHO™)
Luxury anti-aging skincare products with CBD – Cannabis Beauty DEFINED™
KannaKick™ functional food energy chew squares with CBD hemp oil
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MJNA is a pink sheet stock and their filings are unaudited. The Company has been a consistent money loser with a history of diluting shareholders. They have plenty of debt including $2.8 million in accounts payable and a $10 million note payable. This financial condition has led to dilution; OS has increased from 523,551,009 shares out back on June, 30, 2011 to current 949,106,848 shares outstanding.
At the same time MJNA is one of the original pot stocks and still trades very close to the epicenter of the pot stock revolution that has taken small caps by storm. Every time the sector heats up, MJNA ends up in the news driving massive publicity to the stock. 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.