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I would say end of next week is more like it. Give them till October. I'll let Stuart know our thoughts. You should e-mail him as well. A major PR that outlines that legality of CBD and the Dixie line of products and also announces the the publication of Q2 would do us all a lot of good.
On CBD Scheduling (Wikipedia) : I removed any reference to cannabidiol being schedule I in the US. From looking through the DEA list of scheduled substances, it isn't in any way clear that CBD is either "cannabis" or "marihuana." Hempseeds, hemp protein, etc. are all derived from hemp, but aren't themselves illegal, so the DEA has clearly taken the position that products derived from hemp aren't "cannabis" or "marihuana" and I think it's a stretch to say that the "and others" in "Tetrahydrocannabinols: THC, Delta-8 THC, Delta-9 THC, dronabinol and others" would naturally refer to something that isn't a tetrahydocannabinol at all. Without some sort of interpretive notice from the DEA, I think it would make sense to err on the side that says "hemp products are legal; THCs are illegal; CBD isn't a THC, but is derived from hemp; therefore CBD, like other hemp products, is legal."
Cannabidiol (CBD) offers a feeling of clarity and greatly reduces anxiety without any of the psychoactive effects found from other properties within the Marijuana plant. It is imperative that this newly accepted legal substance be isolated from all other properties within the Marijuana plant to insure that all Multiple Sclerosis patients have access to its benefits.
The Food and Drug Administration (FDA) currently considers hemp based cannabinoids, including CBD, to be “food based” and therefore legal without a medical marijuana license.
WOW! +500k BUY@.0601 T-REG TRADE AFTER 4PM!
And a 200k sell at .0574.
Interesting movement here!
I don't think you understand how the law works... have you seen hemp soap before? Hemp shampoo? Hemp anything. It's everywhere and it's legal in all 50 states, and it's derived from Cannabis but without any of the psychoactive effects. CBD falls into this category.
You can buy MJNA/DixieX CBD products here: www.dixiex.com
CBD is 100% legal and approved by the FDA.
If you think Washington will legalize in November... which statistically it SHOULD... as it's getting so much support (23,38 point poll leads) that any talking head would agree is bound for sure victory, then MJNA IS A BUY!. Colorado, even though consistently leading by +10 points in the polls, is still more iffy. If you think Washington will pass then this is a BUY! Colorado would just make this explode through the roof!
Just spoke to Stuart (MJNA Investor Relations): Look for a PR and "SOON"... Regarding Q2 financials. They will be released imminently. Last week's news pushed things back.
Questions I asked: Does this hinder the uplisting application process?
Answer: No, PinkSheet companies are not required to post their financials on time, only fully reporting OTCBB companies must do this. MJNA DOES however have to post these earnings in order to qualify for uplisting however, and they will be doing so VERY shortly!
Full legalization coming to 3 states in 40 days! GET READY!
Colorado is leading in the polls by 11 points!
Washington is Leading the polls by 23 points!
MJNA sells REAL CBD products: www.dixieX.com
Medical Marijuana, Inc. Reports Second Quarter 2012 Revenue and Income Quarter Over Quarter Increase Of Over 1200 Percent From Same Period Last Year
SAN DIEGO, Aug. 15, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), one of the medical marijuana (MMJ) industry's premier cannabis and hemp industry innovators, today announced its second quarter earnings. The company earned net income of approximately $1.47 million on gross revenues of $2.40 million for the quarter ended June 30, 2012. This represents a gross revenue increase of 1200 plus percent quarter-over-quarter when compared to revenue of $196,748 for the quarter ended June 30, 2011. Operating expenses and cost of goods sold totaled approximately $930,000 for the quarter.
Operational and development highlights
Operating highlights of the quarter were as follows:
Completed the acquisition of Dixie Elixirs & Edibles brand, intellectual property, proprietary formulas and extraction processes. In conjunction it formed Red Dice Holdings, as was announced in late April, to develop manufacturing and distribution partnerships for Dixie in every state and country that has legalized medical cannabis. Finalized national and international product development for Q 3 online and retail sales launch.
Begun hemp-based extraction product development beyond the medical marijuana industry, crossing into the nationally legal category of health and wellness with such products as sleep aids, topical and pain management. A market launch of the new products is expected by the end of the second quarter.
Brought PhytoSPHERE systems on-line and will begin to market the benefits of its seed-to-sale product growth and cultivation technology worldwide.
Completed Hemp Oil CBD production at facility "1". Commercialized and expanded production to meet next 12-24 month demand.
Completed the acquisition of CanCHEW Bio-Technologies, secured regional GMP manufacturing partner, as well as produced first U.S. based sample production.
Submitted company's portfolio of products to European Health Authorities for Over-The-Counter (OTC) approvals.
Started clinical development five of the fifty five products.
In addition, since the close of the second quarter, Medical Marijuana, Inc. has:
Finalized U.S. and International CBD product launch plan.
Produced over 35-million doses worth of CBD Oil for MJNA product sales.
Formally started the negotiations and final terms for the acquisition of a chain of retail health and wellness facilities in the U.S. with revenues in excess of $8.0 million annually.
Sold its first batch of commercialized CBD Oil.
Contracted for the production of 300KG of CBD oil for $7.5 million.
Sourced Arizona, California, European Dixie Brand and CanCHEW distribution partners.
Signed closing docs for Lotus Capital $2.0 million line of credit.
Comments regarding operations and outlook
"The second quarter of 2012 cemented Medical Marijuana, Inc.'s path," said Michael Llamas, President of Medical Marijuana, Inc. "We have spent this last year and a half essentially getting our house in order by clarifying the growth strategy and systematically identifying, acquiring and growing early stage companies across the spectrum of the MMJ and hemp industries from product development and production, to retail sales. As witnessed by our strong quarter-over-quarter and year-over-year growth, there is tremendous opportunity in this industry and that opportunity is growing rapidly at home and abroad. With the acquisition of the Dixie brand we have secured our product development, manufacturing, sales and customer services platform, which now enables the company to focus on developing its online sales and retail sales, while allowing MJNA to develop and acquire additional brands and integrate them seamlessly into our overall sales platform thus allowing our strong growth to continue. With the investment and development of CanCHEW, the company has cemented MJNA's place in the future cannabinoid pharmaceutical drug delivery system. We feel this is truly a revolutionary product."
In 2012 we have continued to build a strong foundation in which grow the MJNA's portfolio. We appreciate the continued support of our dedicated team and shareholders," stated Michael Llamas, President of Medical Marijuana, Inc.
Financial Tables
Three months ended
Jun. 30, 2011
Three months ended
Sept. 30, 2011
Three months ended
Dec. 31, 2011
Three months ended
Mar. 31, 2012
Three months ended
Jun. 30, 2012
Revenue
$196,748
$198,813
$430,140
$1,788,445
$2,403,624
Assets
$568,116
$1,443,251
$1,948,165
$6,356,301
$7,908,677
Debt
$103,464
$14,879
$26,785
$101,778
$156,778
Net Income
($1,292,722)
($1,067,473)
($62,711)
$1,208,136
$1,471,596
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
About Medical Marijuana, Inc.
Our 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. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com.
Corporate Contact:
Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
www.medicalmarijuanainc.com
www.facebook.com/mjnainc
Investor Relations Contact:
Stuart T. Smith
SmallCapVoice.Com, Inc.
P. 512-267-2430
F. 512-267-2530
Skype: SmallCapVoice.com
AIM: SmallCapVoice7
SOURCE Medical Marijuana, Inc.
Source: PR Newswire (August 15, 2012 - 9:37 AM EDT)
News by QuoteMedia
Yes it would because the link to Q2 financials is right here: http://www.medicalmarijuanainc.com/index.php/press/22-press-releases/2012-press-releases/159-medical-marijuana-inc-reports-second-quarter-2012-revenue-and-income-quarter-over-quarter-increase-of-over-1200-percent-from-same-period-last-year
Yes they are unaudited, but MJNA is an OTC PinkSheet. They can't just go get them audited with the snap of a finger. That's just not how it works. There's a process. Let me know if you'd like info on the process and where they're at.
Honestly, we're trying to keep things positive here. And if you bash or send negative messages here, it's just going to go right back on the other board. I'm trying to do what's best for everyone here. We should all be celebrating together in November!
$MJNA LINKS to most recent September Legalization polls:
All Have Majority Support!
Washington 58-21 (38 point lead): http://www.nwcn.com/home/?fId=169397076&fPath=/news/local&fDomain=10212
Washington 57-34 (23 point lead): http://livewire.talkingpointsmemo.com/entry/poll-57-percent-support-washington-marijuana-initiative
Washington 50-38 (12 point lead): http://www.queerty.com/poll-marijuana-gay-marriage-referendums-break-50-approval-mark-in-washington-state-20120918/
Colorado 51-40 (11 Point lead): http://stopthedrugwar.org/chronicle/2012/sep/17/colorado_marijuana_legalization
$MJNA LINKS to most recent September Legalization polls:
All Have Majority Support!
Washington 58-21 (38 point lead): http://www.nwcn.com/home/?fId=169397076&fPath=/news/local&fDomain=10212
Washington 57-34 (23 point lead): http://livewire.talkingpointsmemo.com/entry/poll-57-percent-support-washington-marijuana-initiative
Washington 50-38 (12 point lead): http://www.queerty.com/poll-marijuana-gay-marriage-referendums-break-50-approval-mark-in-washington-state-20120918/
Colorado 51-40 (11 Point lead): http://stopthedrugwar.org/chronicle/2012/sep/17/colorado_marijuana_legalization
LINKS to most recent September Legalization polls:
All Have Majority Support!
Washington 58-21 (38 point lead): http://www.nwcn.com/home/?fId=169397076&fPath=/news/local&fDomain=10212
Washington 57-34 (23 point lead): http://livewire.talkingpointsmemo.com/entry/poll-57-percent-support-washington-marijuana-initiative
Washington 50-38 (12 point lead): http://www.queerty.com/poll-marijuana-gay-marriage-referendums-break-50-approval-mark-in-washington-state-20120918/
Colorado 51-40 (11 Point lead): http://stopthedrugwar.org/chronicle/2012/sep/17/colorado_marijuana_legalization
MJNA/DixieX (legal CBD) buy here: DixieX.com
150k on the bid @.059 -- back on up!
Now it would be great if a moderator could please delete my previous posts (and this one)! Cease-fire has commenced. We'll all party in November!!! (:
They have agreed to stop if we agree to stop. If anyone sees anything phishy just let me know. I'm happy to police this.
He's upset because we have REAL SALES of REAL CBD products -- You know... revenue, profits... www.dixiex.com -- Check it out for yourself everyone. GO MJNA!
No products. No revenues. And you even have the financials that show you're in huge debt! R/D pump dump!
Proof is in the last PR where they touted a study they had nothing to do with. ALL FLUFF. What ever happened to that dividend by the way? Lies lies lies. Pump and DUMP.
L2 is super thin on the bid... GOOD LUCK!
I feel bad for anyone that buys in the 4's only to watch it FALL again. This company has no profits, no products, and releases PRs about other scientists' studies! GLTY
MJNA has REAL CBD products... DixieX.com -- Uplisting coming at the end of the year. GLTY!
CBIS is a scam pump and dump R/D company. Look at their financials!
Awesome -- I have the drops and the salve. Also gave the salve as a gift to my parents. They enjoyed. (:
Spread the word, post about MJNA on these comment sections:
http://www.bostonmagazine.com/articles/2012/09/medical-marijuana-in-massachusetts/
http://truth-out.org/news/item/11754-elizabeth-warren-expresses-support-for-medical-marijuana-legalization
I'll continue to send out more links!
Reminder: MJNA/DixieX sells REAL CBD products here: www.dixiex.com
Ask any of us on the board how we like them, as we've pretty much all bought at least one of their products!
Rocking! (:
...hmmm I wonder... CanChew release next week?
Looks like someone's loading up in the 6's...
Well thank you for your shares! I know someone will enjoy them next week when we announce the release of CanChew, and as new poll numbers continue to come in! (:
Official Seattle Times Editorial: Approve Initiative 502 — It’s time to legalize, regulate and tax marijuana: http://seattletimes.com/html/editorials/2019226555_editmarijuanainitiative502xml.html?cmpid=2628
Marijuana legalization effort draws big donors: http://www.gazette.com/news/colorado-145007-campaign-marijuana.html
Is CBD the Cancer Cure We’ve Waited For?: http://www.empowher.com/cancer/content/marijuana-cancer-cure-we-ve-waited