Investors Giving Medical Marijuana Inc (OTCMKTS:MJNA) A Close Look
Medical Marijuana Inc (OTCMKTS:MJNA) is one penny stock pot stock that is on the radar of many investors here as it sits at the bottom of its trading range just a hair over all-time lows.
MJNA is one of the original pot stocks to trade on the bb’s and they are masters at selling the sizzle on the pot sector as well as getting itself featured by mainstream media resulting in a history of big moves.
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.”
Back 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.
CEO Stuart W. Titus, PhD stated “The Company has been working diligently on developing the appropriate sales and distribution strategies. This is part of our strategy to scale and grow HempMeds’ sales and bring significant new revenue into the Company. This is the second major contract the company has executed in the past few months, first was the launch of Korea sales channels and this is the second. Our team has been working very hard to secure and develop additional large scale contracted supply agreements in order to diversify our sales channels.”
On October 13 MJNA announced its subsidiary, Wellness Managed Services’ MPS International (MPSI), is proud to announce its alliance with CannaNative, LLC. Both companies are featured in headline news articles: Bloomberg’s Where to Stash Cannabis Cash? Tribal Nations Make Bid to Bank It and Yahoo News’ article Colorado’s monthly marijuana sales top $100 million.
The Bloomberg article, which was picked up by Fortune magazine and Time.com, references “casinos a model for handling $3 billion in industry revenue.”
MPSI CEO Michael Julian said “The federal government and these banking laws are making it so that people have to walk around with tens of thousands of dollars in their businesses, in their cars, in their homes, putting these people in danger.”
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