Medical Marijuana Inc (OTCMKTS:MJNA) has been making an explosive move up in recent days as pot stocks heat up across the board. MJNA is one of the original pot stocks that has transformed into a major revenue powerhouse.
On January 10 MJNA announced its subsidiary Kannaway®, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, is recognizing its newest pair of Brand Ambassadors to reach the company’s Vice President Director Elite rank. Franz and Hanka Pollak have achieved the rank of Vice President Director Elite, which requires achieving a minimum of $400,000 in monthly sales. The Pollaks work daily to make sure their teams have all the tools and resources to strategically develop into leaders and host weekly trainings with them.
Medical Marijuana Inc 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.
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MJNA owns 22.67 million shares of AXIM or about 43% of the Company. AXIM trades on the OTCBB at $2.20 per share and MJNA investment is worth $50 million at current market value.
On January 9 MJNA announced that the Company and its subsidiaries Kannaway®, HempMeds® Mexico and HempMeds® Brasil generated the largest-ever (unaudited) revenue year in its history in 2018, as well as reached major milestones in its business operations. For the 3 months ended September 30, 2018 MJNA reported record sales of $16,827,486 according to their quarterly reported released on November 20, 2018.
MJNA CEO Dr. Stuart Titus stated “We are excited to have surpassed our growth and revenue goals for this year. By breaking our annual sales record (unaudited) and investing into our future expansion efforts, we can provide our shareholders with an optimistic forecast for our future success.”
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Currently trading at a $318 million market valuation MJNA has $4.4 million in the treasury and has established itself as a revenue powerhouse; For the 3 months ended September 30, 2018 MJNA reported record sales of $16,827,486 according to their quarterly reported released on November 20, 2018. MJNA also holds $50 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. 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. 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.