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Posts | 8965 |
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Alias Born | 01/24/2011 |
Monday, July 18, 2016 3:41:09 PM
I have no idea where you got the idea that MJNA produces its own CBD.
MJNA announounced the sale of its Phytosphere CBD operation to CV Sciences/CannaVest in 1Q/13 (though the sale itself likely took place at the end of 2012):
http://www.medicalmarijuanainc.com/medical-marijuana-inc-announces-sale-of-phytosphere-assets-and-acquisition-of-cannavest-corp-stock/
For about a year, MJNA was the sales and distribution arm for CannaVest/CV Sciences, until CV cancelled the distribution agreement for various lack of performance issues.
MJNA and CV then went through a few lawsuits regarding the RSHO and Cannabis Beauty Defined product trademarks. Ultimately, MJNA and CV agreed that MJNA would own those two brands, and that MJNA would also buy $2M of the beauty products that CV had made for sale by MJNA's Kannaway.
MJNA then began to buy its CBD from another company, probably Isodiol, but CV continues to produce and sell its own CBD.
Meanwhile, it is trying to sell the old Cannabis Beauty Defined products on the HempMeds website because MJNA's KannaWay division has been ineffective in growing.
https://hempmedspx.com/product-category/cannabis-beauty-defined/
Finally, in 2015, MJNA's total revenue was $9.2M, while CV had sales of $11.5M.
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