Medical Marijuana Inc (OTCMKTS:MJNA) is a micro-cap medical marijuana stock player that has been a staple at the top of the most-traded ranks among all OTC stocks over the last couple months. The stock’s recent action is in part coming in response to a series of announcements in recent days, including 1. some free press with a feature article in the International Business Times, 2. news that its subsidiary, HempMeds Mexico, has received permission from Mexico’s health authority COFEPRIS to import their flagship product, RSHO-X, to treat a patient for pain associated with cancer treatments, and 3. news that another one of its subsidiaries, Kannaway, has unveiled a new premium hemp oil product – Kannaway Gold.
The stock has been on a roller coaster ride in the interim, but is still largely positive over most time frames. In all, we’ve witnessed about 10% added to share values of Medical Marijuana stock over the past month of action. The situation may continue to be worth watching. MJNA has evidenced sudden upward volatility on many prior occasions. Furthermore, the listing has seen an influx in interest of late, with the stock’s recent average trading volume running exceeding 100% beyond what we have been seeing over the larger time frame.
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.
According to company materials, “The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries. These products range from patented and proprietary based cannabinoid products, to seed and stalk or isolated high value extracts specifically manufactured and formulated for the pharmaceutical, nutraceutical and cosmeceutical industries. The Company’s services are extensive and varied, ranging from medical clinic management to the capitalization and development of existing industry business and product leaders. Services include development of cannabinoid based health and wellness products, and the development of medical grade compounds. MJNA provides over 85 proprietary and patented cannabinoid delivery methods that are more socially and medically acceptable than typical industry methods. Finally, MJNA services include the licensing of its proprietary testing, genetics, labeling, and packaging, tracking, production and standardization methods for the medicinal herb industry.”
Medical Marijuana, Inc. was formerly known as Hemp Deposit Distribution Corp. and changed its name to Medical Marijuana, Inc. in March 2011. The company was incorporated in 2003 and is headquartered in Poway, California.
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As noted above, the company has been in the press quite a bit lately, with a stream of announcements. Perhaps the most impactful is the news that its subsidiary, HempMeds Mexico, has received permission from Mexico’s health authority COFEPRIS to import their flagship product, RSHO-X, to treat a patient for pain associated with cancer treatments.
“Mexico’s government and regulatory authorities are starting to recognize some of the potential benefits of cannabis/cannabinoid based therapeutics for the overall health and wellness of its people,” said Medical Marijuana Inc. CEO Dr. Stuart Titus.
“We believe the potential restorative and rejuvenative benefits of CBD will soon be proven by medical science — but customers and their anecdotal evidence points toward these benefits [now].”
Currently trading at a market capitalization of $490.5M, MJNA has a store ($406K) of cash on the books, which is balanced by 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%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of Medical Marijuana stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
