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Saturday, May 28, 2022

Medical Marijuana Inc (OTCMKTS:MJNA) Looking For Reversal Off $0.02

Medical Marijuana Inc (OTCMKTS:MJNA) has been laying low in 2020 sitting just over its $0.02 52 week lows and Investors are wondering when this one is going to make another move. MJNA is one of the original pot stocks on the OTC and has a long, long history of making big moves.

Microcapdaily has been covering MJNA for years noting back in October 2014 – MJNA  is one of the original Marijuana plays on the OTCBB and the stock has also been one of the most volatile making spectacular gains back in 2012 when the scene 1st started from sub pennies to a high of $0.50 per share.

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.

According to MJNA We are a company of firsts®.  Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its internal R&D and scientific team and its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Kannalife, Inc. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. Medical Marijuana, Inc.’s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com.

MJNA is a major producer of cannabidiol (CBD) products in the U.S., Europe, Latin America. 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.”

In November of last year MJNA announced its financial results for the quarter ended September 30, 2019, and provided an overview of recent operational highlights. Sales for the third quarter of 2019 exceeded $17.7 million, a decrease of 3% over Q3 2018. The Company executed on a strategic profitability plan that resulted in gross margins increasing from 73.8% in Q3 of 2018 to 75.2% in Q3 of 2019.

Operating Highlights include subsidiary Kannaway® became a member of the European Industrial Hemp Association; Subsidiary HempMeds® launched its new CBD pet product line, Hemp for Pets; The Company and its subsidiary Kannaway® were honored with two Stevie® Award International Business Awards®; The Company reached a one-year milestone in its high-level CBD hemp oil stability study; Subsidiary Kannaway® entered a partnership with Endocanna Health to create and sell endocannabinoid DNA testing products; The Company was listed as a Top 5 Company in the Hemp-Based CBD Market by equity research firm Avise Analytics, Ltd.; Subsidiary HempMeds Brasil® signed an agreement with major online marketplace Dr. Cannabis.

February, 2020 (Microcapdaily.com) — Microcapdaily.com is an exciting small caps focused media portal providing in depth content on small cap companies such as Medical Marijuana Inc (OTCMKTS:MJNA).

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“Medical Marijuana, Inc. and its subsidiaries are excited to continue operating as one of the hemp-based CBD industry pioneers. We are very confident in the continued growth of the global CBD market and encouraged by regulatory developments including the White House’s approval of the U.S. Department of Agriculture’s federal hemp production rules,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “In the future, we intend to continue scaling our operations to meet the high demands for products across the globe.”

MJNA owns 22.67 million shares of AXIM or about 43% of the Company. AXIM trades on the OTCBB at $0.28 per share and MJNA investment is worth $6 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 as well as focusing on research, development and production of pharmaceutical, nutriceutical, oral health and cosmetic products as well as procurement of genetically and nano-controlled active ingredients. Axim intends to broaden its current operations to include pharmaceutical products, manufacturing facilities, genetically controlled botanical products, extraction and purification of biomaterials technologies.

On February 4 MJNA announced its subsidiary HempMeds® Brasil has appointed Dr. Rubens Wajnsztejn as the Company’s Chief Medical Officer. Dr. Wajnsztejn is a neuropediatric doctor and the former president of the Brazilian Society of Child Neurology. He boasts over three decades of education with a master’s degree in Human Communication Disorders from Unifesp (Federal University of the State of São Paulo) and holds a Ph.D. in Health Sciences at the Center Universitário Saúde (ABC), where he teaches and specializes in autism and CBD prescription.

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Currently trading at a $79 million market valuation we do not know the exact numbers on the books as the Companys financials have not been audited in the past 5 quarters.  This is why there is such a disconnect between MJNA sp and the numbers they are putting out. MJNA also holds $6 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.

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