Medical Marijuana Inc (OTCMKTS:MJNA) is one exciting pot stock that are masters at selling the sizzle on the pot sector as well as getting themselves featured by mainstream media. The Company is beginning to see significant sales from its wholly-owned subsidiaries Kannaway® and HempMeds® and Investors are looking for a repeat of the 13, 14 or early 17 parabolic runs that MJNA made!
MJNA operates in the booming MJ sector that continues to grow; according to Forbes North American marijuana sales grew by an unprecedented 30% in 2016 to $6.7 billion as the legal market expands in the U.S. and Canada, according to a new report by Arcview Market Research. North American sales are projected to top $20.2 billion by 2021 assuming a compound annual growth rate of 25%. The report includes Canada for the first time as it moves towards implementing legal adult use marijuana.
Medical Marijuana Inc (OTCMKTS:MJNA) mission is to be the , 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 subsidiary Kannaway® which is now experiancing significant sales growth was the first direct marketing company to offer cannabis products to consumers. A family oriented company, Kannaway® encourages its brand ambassadors to create their own successful distribution businesses that will positively impact the health of the people around them. Kannaway® maintains a focus on nutrition and healthy choices with their all natural ingredients, CBD hemp oil, and proprietary herbal blends combined into each product. Kannaway® was awarded Start-up of the Year in 2014 from the Academy of Multi-level Marketing for their swift growth and supportive company structure.
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.”
Last year 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.” MJNA has also been featured significnatl on CNBC by host Steve Grasso who has been and still is a MJNA shareholder.
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Earlier this month MJNA said August 2017 was the Company’s largest revenue month in its history. Additionally, wholly-owned subsidiaries Kannaway® and HempMeds® Mexico experienced their largest months of revenue in their respective histories.
“Kannaway’s growth has been particularly stunning since it’s re-launch in March 2016,” said Kannaway CEO, Blake Schroeder. “Kannaway’s revenue has increased over 25 times during that time-period, and the company intends to launch a series of new products in Q4 2017 as it gears up for its regional convention this fall in Denver, Co. Additionally, there are plans to launch into Europe later this year. We fully expect Kannaway’s aggressive growth to continue!”
On September 19 MJNA announced it has launched an updated website, making room for new services and offering an expanded cannabis news and education platform. The newly re-launched website features new channels for shoppers and investors along with increased focus on cannabis industry news and education, including health and medical research, political updates and breaking news.
“We have seen a massive increase in traffic to our website as a cannabis information and new resource in the last 12 months,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We are excited to not only improve service to our customers, but also to better educate the millions of people who are becoming interested in learning about the various aspects cannabis. As the industry rapidly evolves, our Company is focused on providing the public and our shareholders with the most up-to-date information they need on an industry that is helping enhance the well-being of people across the globe.”
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Currently trading at a $256 million market valuation MJNA does have $770,000 in the treasury according to their last unaudited filing and $5,702,749 in sales for the 3 months ended June 30, 2017. They also carry significant debt on the books 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. MJNA is is beginning to see significant sales from its wholly-owned subsidiaries Kannaway® and HempMeds® and Investors are looking for a repeat of the 13, 14 or early 17 runs! 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.