The marijuana legalization trend continues to expand not only to states within the United States, but also to countries throughout the world. Mexico can now be added to the list of countries, along with Canada, Australia, and Uruguay in which medical marijuana has recently been legalized. With each country or state that changes its policies to legalize marijuana to one degree or another, a new market is created for companies like Medical Marijuana Inc (OTCMKTS:MJNA) to capitalize on.
Before we get into the details, we’ll first give you some background on the Company. Medical Marijuana Inc is the first publicly held company vested in the cannabis and industrial hemp space in America. Through its subsidiaries and investment holdings, the Company focuses on the development, sale and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol (“CBD”) and other products containing CBD-rich hemp oil (“Legal Hemp”).
Company products are formulated for the pharmaceutical, nutraceutical and cosmeceutical industries, including dietary supplements, prescription-based hemp oil for sale in countries that have legalized hemp oil for the treatment of various illnesses and conditions (such as Brazil and Mexico) and skin care products. The Company’s mission is to be the premier cannabis and hemp industry innovator, leveraging its team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
On July 11, 2017, Medical Marijuana Inc announced that the second quarter of 2017 generated the largest revenue quarter in the Company’s history. 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%. Kannaway® CEO Blake Schroeder stated:
“We are confident that Kannaway® is on a trajectory that continues to exceed expectations. We are proud to be a part of the Medical Marijuana, Inc. family, which actively supports efforts to increase access to cannabidiol (CBD) products worldwide.”
In our last review of Medical Marijuana Inc we noted that its subsidiary HempMeds® Mexico had opened its first office in Mexico. The announcement received international media attention during the July 28, 2017 inauguration of the 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. Bloomberg, Forbes, El Universal, Noticias Toluca, and the Huffington Post, just to name a few of the press organizations that covered the opening of HempMeds’ office in Mexico. Medical Marijuana, Inc. CEO Dr. Stuart Titus commented:
“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™). 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.”
MJNA stock has been trading near a support level of $.10 since the middle of June. It made an upward spike on July 11, 2017 topping out at $.1110. The stock is currently trading at $.1093. Current market capitalization stands at $279.50 million, on 2.56 Billion shares outstanding as of July 14, 2017.
The move into Mexico by Medical Marijuana Inc is a clear indication that the company is planning strategically for the long run in order to capitalize on the marijuana legalization trend. This trend is just starting to gather steam, and those companies plan for the long term and stay ahead of the curve will reap immense benefits for the burgeoning marijuana industry. Expect MJNA to be one of the market leaders. We will be updating our subscribers as soon as we know more. For the latest updates on MJNA, sign up below!
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Disclosure: We have no position in MJNA and have not been compensated for this article.