SAN DIEGO, Aug. 22, 2019 /PRNewswire/ -- Medical Marijuana, Inc. ("the Company") (MJNA), the first-ever publicly traded cannabis company in the United States that launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, today announced that equity research firm Avise Analytics, Ltd. ("Avise Analytics") ranked the Company as one of the Top 5 Companies in the Hemp-Based Cannabidiol (CBD) Market.
"It is an honor to once again be recognized as a leader in the cannabis industry and specifically the CBD market," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "Our company has continued to advocate for safe and legal CBD access across the world for the past decade and, as our efforts in several Latin American countries such as Mexico, Brazil and Paraguay, as well as throughout Europe have shown, we look forward to growing the company and becoming an even more prominent player in the global CBD market."
Avise Analytics, founded in 2012, is an international provider of high-quality research and offers a comprehensive range of customized equity research outsourcing services, investment, financial and credit research outsourcing solutions. The firm authors institutional quality equity research reports, with special focus on Nano-Cap and Micro-Cap companies. Avise Analytics is an approved research contributor on premier institutional investor platforms including Thomson Reuters, S&P Global, Factset, and CapitalIQ.
As Avise Analytics points out in its report, the Company has many impressive accomplishments over the past year. Medical Marijuana, Inc. became the first company to have CBD products listed in the Prescribers' Digital Reference, a well-regarded educational resource for U.S. doctors and medical professionals, with its Real Scientific Hemp Oil Gold Label CBD hemp oil and subsidiary Kannaway®'s Pure Gold CBD hemp oil included. The Company also received a Certification Seal from the U.S. Hemp Authority for its manufacturing processes.
More recently, the Company has celebrated several awards and financial successes. Medical Marijuana, Inc. was awarded the Bronze Stevie® Award in the Most Innovative Company of the Year – Up to 100 Employees category in The 16th Annual International Business Awards. The Company also reported almost $21 million in revenue in the second quarter of 2019, an over 30 percent increase year-over-year from 2018 and a gross profit of over $15 million in the same quarter resulting in a 61 percent increase.
About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its internal R&D and scientific team and its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Kannalife, Inc. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.'s corporate video, click here.
Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.'s shop.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.