Medical Marijuana Inc (OTCMKTS:MJNA) is a penny stock in the medical marijuana space that has been tracking sideways in recent action after a series of major press releases. The latest catalyst for the company came with its announcement that its subsidiary HempMeds Brasil will hold the Country’s first-ever symposium dedicated to providing the Brazilian medical community with information about the medical value of cannabidiol (CBD) and how to legally import CBD into the country for patients.
The stock has held inside a narrow trading range over the past ten days, traversing just a one penny range over that period. In all, we’ve witnessed 14% tacked on to share pricing for the stock in the past month, supporting the continued sense that the stock remains in a larger upward trend. Moreover, the company has registered increased average transaction volume recently, with the past month seeing 17% above its longer-run average levels.
Medical Marijuana Inc (OTCMKTS:MJNA) trumpets itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.
The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.
In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.
Medical Marijuana Inc. is the first publicly held company vested in the medical marijuana and industrial hemp markets.
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Public relations is clearly one of the most important pieces of the puzzle when it comes to establishing a “movement” such as the one MJNA is establishing in Brazil. The Company’s first symposium on medical cannabis, which will take place on April 4 in Rio de Janeiro, is part of the Company’s goal to educate health professionals on the therapeutic uses of cannabis and will feature renowned medical experts and pioneers in the field like Dr. Saul Garza Morales, pediatric researcher and neurologist in Mexico and Chief Executive Officer of Medical Marijuana, Inc. Dr. Stuart Titus.
“I’m looking forward to participating in this forward-thinking symposium held by HempMeds Brasil, which serves an invaluable purpose to those in Brazil who suffer needlessly in silence by helping the gain access to CBD hemp oil products,” said CEO of Medical Marijuana, Inc. Dr. Stuart Titus. “We are proud of our Company for having educated thousands of doctors and patients alike on medical cannabis and are dedicated to not only continuing educating health professionals on the plethora of benefits that medical cannabis provides to treat several types of indications, but also how to best gain access to these products so that we can work together in strengthening the lives and livelihoods of those we serve.”
“With the results of two studies performed in Mexico utilizing RSHO-X, we are thrilled to see the scientific validation of our proprietary products,” Dr. Titus continued. “While other groups may offer CBD, we believe that the recap of the recent study by Dr. Saul Garza Morales puts us in a space where the medical community can potentially replicate his results with Brazilian and other Latino populations of epilepsy children. It is especially thrilling to note seizure reductions as well as other quality of life improvements for families – all which make their lives much easier. We look forward to ongoing scientific inquiry utilizing our products and this Brazil Symposium will hopefully kick off additional research on the therapeutic benefits of botanical CBD.”
Currently trading at a market capitalization of $391.1M, Medical Marijuana Inc has a stash ($406K) of cash on the books, which stands against about $3.9M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.6%. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!