We’ve covered Medical Marijuana Inc (OTCMKTS:MJNA) on Street Register essentially since our inception, and it shouldn’t come as any great surprise. We love cannabis stocks, and MJNA is the first publicly –traded American marijuana company.
In addition to an important operational update, we wanted to touch base with MJNA today as it has smashed its own records for quarterly and monthly sales in company history.
Medical Marijuana Inc (OTCMKTS:MJNA)’s operational highlight was the announcement that its subsidiary HempMeds® Mexico received international media attention during the June 28, 2017 inauguration of HempMeds® Mexico’s first office in Monterrey, Nuevo Leon, Mexico. Coverage also included the Company’s appointment of medical cannabis activist and Por Grace Foundation founder Raul Elizalde as President in Mexico.
A Huffington Post article, “Monterrey: de ciudad industrial a meca de la marihuana medicinal,” or “Monterrey: from industrial city to medical marijuana mecca,” and other news coverage from major international and national Mexico news outlets discuss the opening of HempMeds® Mexico’s new office in Mexico and recent medical cannabis reforms that are sweeping the country. Mexico President Pena Nieto signed a bill into law June 19, 2017 that officially legalized the cultivation, production, and use of cannabis products with less than 1% THC for medical use in Mexico.
An article from Forbes, “5 retos para la venta de marihuana medicinal en México,” or “5 challenges for the sale of medical marijuana in Mexico,” discusses HempMeds® Mexico’s strategy for cannabidiol (CBD) product development, scientific research, and education in Mexico.
“We appreciate the outpouring of support that we received at the opening of the first HempMeds® Mexico office in Monterrey, Mexico, which reflects a growing demand for the Company’s zero-Tetrahidrocannabidiol (THC) Real Scientific Hemp Oil-X™ (RSHO-X™),” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “The extensive coverage that we received from both local and international media is a testament to the worldwide interest in cannabis reform happening in Mexico, and the efforts of HempMeds® Mexico to provide products for this rapidly expanding CBD hemp oil market.” (Source: PR Newswire)
Then of course this week brought the landmark announcement that the second quarter of 2017 generated the largest revenue quarter in the Company’s history. Additionally, the Company celebrated the largest-ever single month of revenue in June 2017 as well as the largest sales month and quarter for wholly owned subsidiary Kannaway.
The Company saw a gross revenue increase from $1,660,633 in Q2 2016 to $6,131,415 in Q2 2017, a quarter-over-quarter increase of 269% making it the largest quarter in the Company’s history. The Company also saw year-to-date and year-over-year revenue increase from $3,177,103 to $9,651,088 an increase of 203%.
“As a well-known Company of Firsts, we are encouraged to see the Company achieve a new milestone – hitting its highest revenue mark ever in this last financial quarter,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We continue to work closely with our portfolio of companies to ensure their success, and look forward to breaking new records as we continue to expand our footprint in new markets.” (Source: PR Newswire)
As long-time MJNA followers, it’s good to see the company staying active in its development, as well as crushing it on the sales front. We’re very interested to see if a rise in PPS will now follow suit. 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.