Medical Marijuana Inc (MJNA)

[Cramer01]

Medical Marijuana, Inc. Announces Q3 2018 as the Largest Revenue Quarter in Company History
PR Newswire
PR NewswireNovember 27, 2018, 9:00 AM EST
SAN DIEGO, Nov. 27, 2018 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the company and its subsidiaries Kannaway®, HempMeds®, HempMeds® Mexico, HempMeds® Brasil, Dixie Botanicals and Phyto Animal Health have booked their largest-ever sales revenue quarter in the company's history in Q3 2018, as well as reached major milestones in their business operations.

Medical Marijuana, Inc.'s Q3 2018 revenue exceeded $16.8 million dollars, an increase of more than 116% over Q3 2017. Revenue for the nine-month period ending September 30, 2018 exceeded $42.1 million dollars, an increase of 146% over the prior year nine-month period.

Gross profit for Q3 2018 increased nearly 140% over Q3 2017. Gross profit for the nine-months ending September 30, 2018 increased nearly 140% over the prior year nine-month period. The company reported net ordinary income in excess of $600 thousand in Q3 2018.


"In Q3, we saw incredible international expansion and released numerous exciting new products," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "As we continue our momentum in Q4, we will aim to increase shareholder value through further development of our subsidiaries and their product lines."