MJ Holdings Inc (OTCMKTS: MJNE) made a huge move up after the Company announced it is expecting an initial shipment of 800,000 Q-Cups, a cannabis and CBD delivery system. The Company entered into an exclusive distribution agreement with the designer and patent holder of the Q-Cup earlier this year and says the suggested retail price of the Q-Cups will range between $8 and $10 based on the brand and the THC/CBD potency.
MJNE has a long history of big moves running to a high of $8.50 the last time the sector heated up! MJ stocks have been booming as we near legal recreational cannabis in Canada on October 17.
MJ Holdings Inc (OTCMKTS: MJNE) bills itself as a diversified holding company providing management and consulting services to the regulated cannabis industry. Through their subsidiaries MJNE provides cultivation and production management services and infrastructure development.
MJNE cultivation operations include management of the largest outdoor Nevada cultivation facility, as well as a fully licensed indoor agritourism facility located in the city of Las Vegas known as the Highland Show-Grow. The Company is also active in identifying and acquiring revenue producing assets and licenses within legalized cannabis markets internationally.
The Company owns a provisional Medical Marijuana Establishment Registration Certificate. The Certificate, when perfected, will allow the Company to commence legal marijuana cultivation activities in the State of Nevada. MJNE subsidiary HDGLV, LLC holds a triple-net leasehold, with an option to buy, on a 17,298 square-foot building, which will be home to MJNE cultivation facility.
The Company expect Phase 1 of this facility to be completed in the third quarter of 2018. MJNE expects final approval by the State of Nevada, Department of Taxation of their Certificate and issuance of a Business License from the City of Las Vegas in the third quarter of 2018.
In April 2018, the Company entered into a management agreement with a Nevada company that holds a license, for the legal cultivation of marijuana for sale under the laws of the State of Nevada. The Licensed Operator engaged MJNE to develop, manage, and operate a licensed cultivation facility on property owned by the Licensed Operator. The Company has agreed to complete the construction of a 120,000 square-foot outdoor grow facility, including the construction of an 8,000 square-foot building and installation of security fencing, meeting the State of Nevada building codes and regulations. The Company expects to receive all necessary state and local approvals and complete construction of the facility to commence operations in the latter part of the third quarter of 2018.
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Earlier this year MJNE said it completed the first phase of construction at its Highland Show-Grow agritourism facility located near the Vegas Strip. The Company is moving forward with the second phase of construction, which, when completed, will showcase a state of the art 17,000+ square foot cultivation facility in the heart of Las Vegas.
On September 19 MJNE announced it is expecting an initial shipment of 800,000 Q-Cups, a cutting edge patented and patent pending cannabis and CBD delivery system. The product is scheduled for delivery on October 15, 2018.
In August of this year MJ Holdings entered into an exclusive distribution agreement with the designer and patent holder of the Q-Cup, Healthier Choices Management Corp. for the entire state of Nevada.
The Q-Cup comes as a pre-filled cannabis dispensing unit that allows the user to experience a more reliable product delivery while still having the convenience of a disposable cup. The Q-Cups come pre-filled with approximately 50 milligrams of cannabis concentrate that will deliver 8-10 “hits” per cup. The suggested retail price of the Q-Cups will range between $8 and $10 based on the brand and the THC/CBD potency.
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Currently trading at a $130 million market valuation MJNE has $934k in the treasury, little debt and no revenues to date. MJNE is an exciting story in small caps; focused on becoming a leader in the Nevada Cannabis market the Company recently completed the first phase of construction at its Highland Show-Grow agritourism facility located near the Vegas Strip. The Company is moving forward with the second phase of construction, which, when completed, will showcase a state of the art 17,000+ square foot cultivation facility in the heart of Las Vegas. Also the shipment of 800,000 Q-Cups could result in significant revenues for the Company in the short term as the go n sale for between $8 and $10 based on the brand and the THC/CBD potency. MJNE also has a big history of moves running to $8.50 the last time the cannabis sector heated up. We will be updating on MJNE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MJNE.
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Disclosure: we hold no position in MJNE either long or short and we have not been compensated for this article.