U.S. Markets open in 6 hrs 26 mins

Medical Marijuana, Inc. (MJNA)

Other OTC - Other OTC Delayed Price. Currency in USD
Add to watchlist
0.0181-0.0002 (-1.09%)
At close: 3:59PM EST
Full screen
Trade prices are not sourced from all markets
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Neutralpattern detected
Previous Close0.0183
Open0.0175
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0175 - 0.0192
52 Week Range0.0100 - 0.0400
Volume13,579,949
Avg. Volume13,946,930
Market Cap56.488M
Beta (5Y Monthly)-0.23
PE Ratio (TTM)9.05
EPS (TTM)0.0020
Earnings DateNov 17, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Medical Marijuana, Inc. Subsidiary HempMeds® Names Renowned Cannabis Leader Raul Elizalde as CEO and Matheus Patelli as Managing Director of Brazil Operations
    GlobeNewswire

    Medical Marijuana, Inc. Subsidiary HempMeds® Names Renowned Cannabis Leader Raul Elizalde as CEO and Matheus Patelli as Managing Director of Brazil Operations

    Promotes International Executive Team to Further Capitalize on Growing CBD Market in Latin America SAN DIEGO, Nov. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), 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, announced today that its subsidiary HempMeds® has announced new global and regional leadership promotions. Raul Elizalde, a prominent international cannabis leader, will become the sole CEO of HempMeds®, overseeing all US and international operations. He joined the Company in June 2017 and previously served as the President of HempMeds® Mexico and Latin American operations. Elizalde was an active medical cannabis advocate prior to joining the Company because of his fight to gain access to cannabidiol (CBD) hemp oil for his daughter Grace. Elizalde's fight led to the legalization of medical cannabis in Mexico and, since joining the Company, he has significantly grown HempMeds' presence and sales throughout Latin America, especially in Mexico. In Nov. 2017, Elizalde was invited to speak to the World Health Organization at the Expert Committee on Drug Dependence Conference in Geneva, Switzerland. “The knowledge, expertise and undeniable passion Raul has for this Company and the industry are immeasurable,” HempMeds® Co-Founder Michelle Sides said. “He has fought not only for his own family’s access to CBD but for entire countries to have the same access to the benefits CBD provides. There is absolutely no one more qualified to lead HempMeds in the right direction and Raul has proven to be an invaluable member of this Company. We are all humbled and grateful for his leadership toward our progressing future.”“HempMeds is part of my family,” HempMeds® CEO Raul Elizalde said. “A lot has already been accomplished in the United States regarding the legalization of cannabis and universal access to CBD but there is still much work to be done in the rest of the world. I will do my best so that consumers will continue to trust the HempMeds brand and our portfolio of companies.”Matheus Patelli, who previously served as Director of Marketing and Sales for HempMeds® Brasil and U.S., has been promoted and will lead the Company’s Brazilian operations as Managing Director. During his time with HempMeds®, he has been successful at promoting the brand. In Brazil alone, the Company has already supplied around 80,000 units of CBD to more than 2,000 consumers. “Our goal is to continue to pioneer the medical cannabis market in Brazil, dedicating our efforts to providing high-quality products to consumers and bringing high-quality information to medical professionals,” HempMeds® Brasil Managing Director Matheus Patelli said. “It is always important to remember that for this sector to continue to exist, impacting the lives of thousands of people who depend on CBD, we must be leaders in research, knowledge and providing expert education.”About HempMeds® Founded in 2012, HempMeds® was the first company to bring hemp-based cannabidiol (CBD) oil products to market in the U.S. As a subsidiary of Medical Marijuana, Inc., HempMeds is the exclusive distributor for premium brands including Real Scientific Hemp Oil™ and Dixie Botanicals®, and operates in all 50 states and 40 countries. HempMeds® is the only company to have its CBD products listed in the Prescribers’ Digital Reference (PDR), the only company invited to speak to the World Health Organization and FDA on the benefits of CBD, and one of the first to be certified by the U.S. Hemp Authority. To learn more, please visit www.hempmedspx.com.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 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. The company's flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.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.FORWARD-LOOKING DISCLAIMER 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 Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.LEGAL DISCLOSURE Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.CONTACT: Public Relations Contact:Kathryn Brown Account Supervisor CMW Media P. 858-264-6600 kathryn@cmwmedia.com www.cmwmedia.com Investor Relations Contact: P. (858) 283-4016 Investors@medicalmarijuanainc.com

  • Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million
    GlobeNewswire

    Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million

    SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), 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, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights. Third Quarter 2020 Financial and Operational Highlights * Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020; * Positive adjusted EBITDA of $175,755 * Gross profit for the period ending September 30, 2020, was $9.1 million; * GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in the second quarter of 2020 to 49.3% in the third quarter of 2020; * New Ordinary Loss decreased by $.41 million when compared to second quarter of 2020 * The Company’s subsidiary HempMeds® launched a retail partnership with Gelson’s Market to sell the Company’s cannabidiol (CBD) topical and beauty products throughout Southern California; * The Company’s investment company Kannalife, Inc. (“Kannalife”) (OTCQB: KLFE), now known as Neuropathix, Inc. (OTCQB: NPTX), was granted patents in 16 European territories and Canada; * Promoted Todd Morrow to Chief Financial and Information Officer and the Company’s co-founder Michelle Sides, Esq. as the Company’s Chief Legal Officer; * Hired financial executive Robert A. Wells as Vice President of Finance; * The Company’s subsidiary Kannaway® began recruiting CBD users to participate in the ValidCare CBD safety study; * Expanded its production and warehouse facility to keep up with demand, further vertically integrating the Company’s supply chain, enabling broader product R&D and internal manufacturing; * The Japanese division of the Company’s subsidiary Kannaway® had its best revenue month ever in Company history in August 2020; * The Company’s CEO Dr. Stuart Titus was honored with a Gold Stevie® Award for Executive of the Year – Food & Beverage, HempMeds® was awarded a Gold Stevie® Award for Consumer Products – Food & Beverage, Kannaway® CEO Blake Schroeder was honored with a Silver Stevie® Award for Maverick of the Year and Kannaway® earned a Bronze Stevie® Award for Achievement in International Expansion; * In the 2020 World CEO Awards, the Company’s CEO Dr. Stuart Titus was named a Bronze Award winner for Top CEO of the Year – The Visionary and Blake Schroeder, CEO of the Company’s subsidiary Kannaway®, was honored with a Silver Award for Top CEO of the Year; * Became the first company to reach a two-year milestone in high-level CBD hemp oil stability study through long-term stability testing on its flagship THC-free CBD oil product Real Scientific Hemp Oil-X™ (RSHO-X™).“It’s encouraging to see our costs, specifically in the area of sales and marketing, decrease while our sales increased in this quarter when compared to the previous one, and a positive adjusted EBITDA,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We feel very optimistic about finishing out the year strong, with consumers interested in wellness at an all-time high headed into the holidays. Additionally, we are very optimistic about the overall landscape with so many states entering the cannabis industry through recently passed legislation, signaling that the stigma for the entire plant, including hemp, is diminishing.” "Our international expansion is forging ahead with full force and we will continue to further establish our Company’s products as the best available to consumers throughout the world," said Medical Marijuana, Inc. COO Blake Schroeder. Financial Data: Third Quarter 2020 as Compared to Second Quarter 2020 (in thousands)Gross Revenue:Q3 2020 – $12,221Q2 2020 – $10,986Cost of Goods Sold:Q3 2020 – $3,084Q2 2020 – $2,234Net Income/(Loss):Q3 2020 – ($106)Q2 2020 – $9,699Net Ordinary Income/(Loss):Q3 2020 – ($857)Q2 2020 – ($1,274)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 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. The company’s flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy. 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.ADJUSTED EBITDA CALCULATIONSAdjusted EBITDA is defined by the company as EBITDA (net income (loss) adjusted for interest income/(expense), income taxes, depreciation and amortization), further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.A reconciliation from our net income /(loss) to adjusted EBITDA, a non-GAAP measure, for the quarter ended September 30, 2020Period Ending September 30, 2020 * Net Income (loss) … ($106,713) * Interest Expense … $267,177 * Interest Income … ($101,400) * Depreciation/Amortization… $116,711 * Adjusted EBITDA … $175,755FORWARD-LOOKING DISCLAIMERThis 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) DISCLOSUREThese statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.LEGAL DISCLOSUREMedical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.CONTACT:CONTACT: Public Relations Contact:Kathryn Brown Account Supervisor CMW Media P. 858-264-6600 kathryn@cmwmedia.com www.cmwmedia.com Investor Relations Contact: P. (858) 283-4016 Investors@medicalmarijuanainc.com

  • Medical Marijuana, Inc. Subsidiary Kannaway® Honored as Winner of Two 2020 BIG Awards for Business
    GlobeNewswire

    Medical Marijuana, Inc. Subsidiary Kannaway® Honored as Winner of Two 2020 BIG Awards for Business

    MJNA Medical Marijuana, Inc. Subsidiary Kannaway® Honored as Winner of Two 2020 BIG Awards for BusinessSAN DIEGO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), 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, announced today that the Company’s subsidiary Kannaway® has received two prestigious BIG Awards for Business in the Business Intelligence Group’s 2020 BIG Awards for Business program. Kannaway® was honored with the following awards:  * Kannaway® CEO Blake Schroeder: Small Business Executive of the Year * Kannaway®: Small Business of the Year“It is an honor to be recognized as Small Business Executive of the Year and to have Kannaway honored as Small Business of the Year. 2020 has been a challenging year for many and I am proud of my team for continuing to expand and excel through those challenges,” said Kannaway® CEO Blake Schroeder. “We are excited to see what 2021 brings and watch our team continue to flourish.”The Business Intelligence Group’s BIG Awards for Business were launched to acknowledge companies, products and people that are leading their respective industries. Unlike other industry award programs, business executives — those with experience and knowledge — judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.“We are so proud to reward Kannaway for their outstanding 2020 achievements,” said Maria Jimenez, chief nomination officer of the Business Intelligence Group. “This year’s group of winners are clearly leading by example in the global business community.”About Kannaway®Kannaway® is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway® currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.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 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. The company’s flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy. 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.About Business Intelligence GroupThe Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.FORWARD LOOKING DISCLAIMER 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 Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.LEGAL DISCLOSURE Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.CONTACT: Public Relations Contact:Kathryn ReinhardtAccount SupervisorCMW MediaP. 858-264-6600E: kathryn@cmwmedia.comwww.cmwmedia.comInvestor Relations Contact: P. (858) 283-4016 Investors@medicalmarijuanainc.comAttachment * MJNA