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Tuesday, November 29, 2022

The Fast Moves On Medical Marijuana Inc (OTCMKTS:MJNA)

Medical Marijuana Inc (OTCMKTS:MJNA) recently saw another fast rise to highs of $0.268 as pot stock heated up across the board. MJNA remains an Investors favorite and a staple among the top most traded stocks on the entire exchange especially when pot stocks heat up.

When the pot sector heats up MJNA is a great place to be with its history of parabolic moves; the Marijuana industry has quickly turned into a multi-billion dollar massive growth market that is sweeping across the Country with many new states legalizing the drug including California, Nevada, Maine, and Massachusetts on November 8.

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 November 29 MJNA announced their subsidiary HempMeds® Mexico, the first and only company with approval from COFEPRIS to legally import a cannabis product into Mexico, has begun distributing Real Scientific Hemp Oil™ (RSHO™) to Colombia.

This announcement comes at a pivotal time as the Colombian government re-evaluates its regulation of cannabis-based products and their medicinal attributes. HempMeds® Mexico joined the legislative discussion by attending and exhibiting the global headline-making RSHO™ at Expo Mede Weed 2016 in the city of Medellin.

“We are thrilled to be able to reach Colombians with our products and to help nurture new markets there,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “Here in the United States, we are able to get access to RSHO™ and other cannabidiol (CBD) products online; however, residents of other countries are not as fortunate due to regulatory issues with cannabis-based products. We are very excited that Colombians will now have access to all of the benefits of CBD.”

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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.

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