Medical Marijuana Inc (MJNA)

[Det_Robert_Thorne]

AXIM is tremendously overvalued. Patent is an extension.

The patent announced is simply an extension of the existing patent on the CanChew gum method of delivering cannabinoids via a chewing gum.

MJNA has been selling CanChew CBD-only gum since 2013, and revenues haven't been very impressive.

In 2013, CanChew sold $145K, while in 2014 total Canchew revenues were about $350K. Sounds pretty good, right. In the first three quarters of 2015, however, less than $50K of the gum was sold, and in 4Q/15, MJNA stopped breaking out CanChew separatedly.

At $6.56 a share, AXIM's market cap is about $274M, and in the first half of 2016, AXIM's total revenue was $25K.

It's extremely overvalued, as is MJNA's share of the company, which will be getting smaller now that AXIM is taking on new financing from other sources.