The last time we talked about Medical Marijuana, Inc. (OTCMKTS:MJNA) here on Street Register, the company had just set milestones for sales and revenue, even as the stock has continued to struggle throughout 2017 thus far. However, it could be time to refocus and begin monitoring it again as it comes down to its lowest prices since last year.
In a considerable recent development for the CBD industry, the World Anti-Doping Agency, which was formed by the International Olympic Committee to monitor drug use in sports worldwide, announced that it would remove cannabidiol from its list of banned substances. With the physical rigors of athletics, and the many benefits of CBD, it opens up a key target market of ideal candidates for related products. The changes are set to go into effect in 2018.
It means good things for Medical Marijuana, Inc. (OTCMKTS:MJNA)’s HempMeds® subsiduary, and its Real Scientific Hemp Oil-X™ (RSHO-X)™ CBD hemp oil, which is the only cannabidiol product on the market today which is recognized by international governments to be completely free of THC, the psychoactive compound found in large amounts in the female cannabis plant (marijuana) and in comparatively trace amounts in the male cannabis plant (hemp). The company believes their product is an ideal option for athletes looking to safely incorporate cannabinoids into their regimen.
One key part of that story is the fact that not all CBD products are 100% free of THC, even if they don’t contain enough of the compound to produce phychactive effects. The IOC still considers any amount of THC in tested athletes to be a violation, thus there is an element of risk involved that, for many, is unacceptable. That’s why a verified 100 % THC-free CBD product like MJNA’s has the potential to do really well with the athlete demographic.
In other news, this week MJNA announced its Kannaway® subsidiary brought on Robert “Bo” Brannin as its new Senior Director of Operations. Kannaway is a purveyor of hemp-infused beauty products.
In this position, Brannin will be responsible for managing every aspect of the company’s supply chain operations from purchasing to inventory, production and shipping. He will bring his twenty years of experience in the operations and logistics field to assist the team in building a strong foundation as the company now prepares to establish international operations.
“We are excited to bring Bo onto the executive team as Senior Director of Operations and we are more than confident that he has the experience and skills required to effectively serve all of Kannaway’s loyal customers and Brand Ambassadors.” said Kannaway CEO, Blake Schroeder.
“It is my firm belief that it is critical to not only share my knowledge of lean manufacturing as it pertains to operations but also vital to build a promising environment and culture for our employees so that everyone is involved in the process,” said Brannin. “I am incredibly proud to be a part of this team that has helped so many, and continues to be a leader in this industry.” (Source: PR Newswire)
As we stated above, the WADA ruling could be a big opportunity for MJNA if it seizes it properly, so that a facet of this story that we’re going to want to keep in mind, and watch MJNA closely moving forward. 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.