Medical Marijuana Inc (OTCMKTS:MJNA) is among those cannabis stocks that we have had a long-standing and ongoing interest in, and being the very first publicly traded cannabis company in America, it’s also one of the most well-established.
In fact, the company recently adopted a new catchphrase, or slogan, “We are a company of firsts®” and indeed, there are several facets of the domestic marijuana business trail that have been ‘blazed’ by the company.
Medical Marijuana Inc (OTCMKTS:MJNA)’s recent quarterly report included a whole range of operational and investment highlights. The operational highlightes were separated into four main categories: HempMeds®, HempMeds Brazil®, HempMeds Mexico®, and Kannaway®. Those included:
Wholly-owned subsidiary HempMeds US, the portfolio’s predominate consumer brand, continued to experience growth in 2017 and experienced the following milestones:
- Launched a new affiliate program.
- Hired a new sales manager.
- Increased the sales staff with the addition of ten inside and four outside representatives.
- Hired a new online sales and marketing director.
2) HempMeds Brazil®
93.4%-owned subsidiary HempMeds Brazil, which received the country’s first import permit for cannabis products, achieved the following milestones in the first quarter of 2017:
- Partnered with one of the leading global wholesale distributors of pharmaceutical products.
- Began importing its RSHO™ Green Label, which contains a high concentration of cannabinoids in their acidic form, into Brazil.
- Announced authorization from the Brazilian government to sell its product for treatment of patients in the country suffering from Alzheimer’s disease, Multiple Sclerosis, and Autism Spectrum Disorder (ASD).
- Held the country’s first-ever medical cannabis symposium dedicated to providing the Brazilian medical community with information about the medical value of cannabinoids and how to legally import the Company’s products into the country for patients with approved conditions.
- Hired a marketing and community engagement manager.
3) HempMeds Mexico®
Wholly-owned subsidiary HempMeds Mexico, which accomplished the first-ever import permits for a cannabis product for its RSHO™ and RSHO-X™ products from the federal governments of Mexico and Paraguay in 2016, achieved the following milestones in the first quarter of 2017:
- Its products were included in clinical research done by Dr. Saul Garza showing a decrease in epileptic seizures in 86% of patients.
- Received permission from Mexico’s health authority COFEPRIS to import Real Scientific Hemp Oil-X™ (RSHO-X™) to treat pain associated with cancer, the Company’s third approved indication in Mexico.
- Launched a new corporate website.
- Celebrated its one-year anniversary of operations in Mexico where it received the first permit in the country to sell cannabis products.
Subsidiary Kannaway, a premier hemp lifestyle brand, recently experienced 11-times revenue growth in a year-over-year comparison, and achieved the following milestones in the first quarter of 2017:
- Launched a new product, “Kannaway® Gold Premium Hemp Oil, an all-natural, full-spectrum, filtered CBD hemp oil, to its line of CBD lifestyle products.
- Unveiled a renewed line of chewable energy supplements, “Kannaway Energy Chews,” a bite-sized line of hemp-based energy supplements.
- Announced the company’s first ever international expansion plan.
- Appointed Alex Grapov as the company’s International V.P. to oversee the expansion. (Source: PR Newswire)
Also contained in the report, of course, were the company’s quarterly figures, which included gross revenue and profit increases, a quarter-over-quarter revenue boost. You can read the full text of the press release by clicking the source link above.
In the meantime the MJNA could be classified as a bottom-bouncer, so we’re really going to want to watch this one for a potential run. Follow the tale of the tape along with us. Stay locked to Street Register for updates, and we’ll deliver important developments on MJNA as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in MJNA stock, short or long.