Medical Marijuana Inc (OTCMKTS:MJNA) has seen a surge in price and volume in recent days as the stock moves up off its $0.04 base and moves towards $0.06 resistance. MJNA remains an Investors favorite and a staple among the top most traded stocks on the entire exchange.
When the pot sector heats up MJNA is a great place to be with its history of parabolic moves; catalysts suggesting another pot boom is here include 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 in January, Colorado revenues increasing and more.
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.
On September 30 MJNA announced Renowned Mexico physician Dr. Carlos G. Aguirre Velazquez today announced results of a new survey he conducted on children with refractory epilepsy, which found that out of 53 cases of children who were treated with cannabidiol (CBD) hemp oil, 60 percent showed a reduction in seizures.
The product most commonly used in the survey was the only current legal option in Mexico, Medical Marijuana, Inc. (otc pink:MJNA)’s Real Scientific Hemp Oil-X™ (RSHO-X™), developed by HempMeds, the first company in Mexico with a COFEPRIS approval to import cannabis products.
The study, conducted by Professor of Pediatric Neurology at the Monterrey Institute of Techhas’ School of Medicine Dr. Velazquez, also reported that in seizure crises treated with CBD hemp oil, 16 percent were completely controlled, and 51 percent improved in either a moderately to an important way.
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Currently trading at a $156 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.