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MJNA

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Latest Financial News for MJNA


Medical Marijuana, Inc. Reports Net Income of $3.7 Million in 2021 First Quarter Financial and Operational Results
Posted on Tuesday May 25, 2021

SAN DIEGO, May 25, 2021 (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 March 31, 2021, and provided an overview of recent operational highlights. “Our operations made tremendous advancements in the first quarter of this year that position us to continue expanding our global footprint and highlight the entire industry’s progress,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We are heavily focused on expanding our international business, with our Latin American operations continuing to break sales records and capturing market share in these strategic regions. Pending legislation will enable us to further expand our presence in Mexico, a key opportunity unique to our portfolio. Beyond Latin America, we worked to ensure our European business will continue to meet regulatory standards set in the EU and the UK. Finally, as the world’s view trends in favor of cannabis, consumers are shifting their buying habits to include a wider variety of products, which is why we are excited to now offer CBG and CBN in several markets.” First Quarter 2021 Financial Highlights ● Generated $8.9 million in net revenue in the first quarter of 2021; ● Net Income for the first quarter of 2021 was $3.7 million; ● GAAP Sales & Marketing expense decreased as a percentage of sales from 46% in 2019 to 38% in 2020; ● Cash position at the end of the period was $4.9 million; ● Decreased total liabilities by 32%. First Quarter 2021 Operational Highlights ● Subsidiary Kannaway® participated in and announced positive results of the Validcare clinical study. The study used Kannaway®’s hemp-derived cannabidiol (CBD) products as a part of its efforts to meet the Food and Drug Administration (FDA)’s request for data on the use of botanical CBD with regard to potential liver toxicity issues, which seem to occur with the pharmaceutical version of CBD; ● Subsidiary Kannaway® submitted its Novel Foods application for its CBD products to the UK’s Food Standards Agency (FSA) through the European Industrial Hemp Association (EIHA) Novel Foods Consortium; ● Subsidiary Kannaway® launched several new products in the U.S. and Europe, including the Company’s cannabigerol (CBG) tincture in the U.S. and a brand new Green Hemp CBD Oil in Europe; ● Subsidiary Kannaway® received Certified CBD approval from the Banned Substances Control Group (BSCG), a leading third-party certification and testing provider of dietary supplements and natural products, for its broad-spectrum CBD product Pure Gold; ● Subsidiary Kannaway®’s Japanese division had its best sales month ever in Company history in February 2021; ● Subsidiary HempMeds® launched its first-ever products containing CBG and cannabinol (CBN) as part of the Company’s recently updated brand strategy; ● Subsidiary HempMeds® welcomed X Games world-record-holding skateboarder Italo Penarrubia as its newest spokesperson; ● CEO Dr. Stuart Titus was named winner of the 2020 Best Business Leader in the United States by Global Brands Magazine. "We are proud to have the opportunity to advance the entire CBD industry as one of only a few industry leaders chosen to participate in Validcare’s CBD toxicity study, which as we expected revealed favorable results," said Medical Marijuana, Inc. COO Blake Schroeder. “Our primary sales generation division Kannaway was able to adjust its peer-networking strategy amidst the pandemic, and we held our largest international virtual event in the company's history this last quarter. Kannaway’s international growth has been a key driver of our revenue and we expect this to continue as we further target new and emerging markets.” 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 Neuropathix, 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. and Subsidiary Kannaway® Honored as Stevie Award Winners in 2021 American Business Awards
Posted on Tuesday May 18, 2021

SAN DIEGO, May 18, 2021 (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 and its subsidiaries received two prestigious Stevie® Awards in The 19th Annual American Business Awards®, the U.S.A.’s premier business awards program. Notably, Medical Marijuana, Inc. CEO Dr. Stuart Titus was honored with a Bronze Stevie® Award for Entrepreneur of the Year - Food & Beverage and Medical Marijuana, Inc.’s subsidiary Kannaway® received a Bronze Stevie® Award for Achievement in Management - Consumer Products - Non-Durables. “Leading Medical Marijuana, Inc.’s talented team for over a decade has been an honor in itself and I am humbled to be recognized by the American Business Awards this year,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “I look forward to continuing to lead this Company of Firsts as we utilize the recent positive momentum in cannabis and hemp legislation.” The American Business Awards® accepted over 3,800 nominations, a record number, for this year’s awards from large and small, public and private, for-profit and non-profit US-operating businesses. Awards were given out to top-performing companies and executives in a wide range of categories such as leadership, customer service, management, public relations, and product development. They were reviewed in a judging process by more than 250 professionals worldwide, whose average scores determined the winners. Details about The American Business Awards and the list of 2021 Stevie winners are available at www.StevieAwards.com/ABA. 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 Neuropathix, 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. Subsidiary HempMeds® Brasil Announces April 2021 as the Best Revenue Month in Company History
Posted on Tuesday May 11, 2021

SAN DIEGO, CA, May 11, 2021 (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® Brasil had its best revenue month ever in Company history in April 2021. “Our HempMeds Brasil operations have seen a consistent increase over the years. We aim to reach as many consumers in need as possible and last month’s achievements prove that we are continuing to expand our reach to our target audiences,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “I am incredibly proud of the success our HempMeds Brasil team has been able to achieve. As we celebrate our best revenue month in company history, we are scaling our operations in the country, refreshing our consumer-facing website and increasing the size of our facilities in Brazil to meet the needs of our expanding team,” said HempMeds® CEO Raul Elizalde. “In the coming months, to support our continued growth, we intend to partner with the largest higher education institution in Brazil to educate medical professionals on the potential benefits of cannabidiol (CBD) and are moving forward in securing partnerships with well-respected professional and Olympic athletes,” said HempMeds® Brasil Managing Director Matheus Patelli. “My team has successfully been able to show Brazilian citizens that our products are of the highest quality and trustworthy, just like the people who work at the Company.” To learn more about HempMeds® Brasil, please visit www.hempmeds.com.br. About HempMeds® Brasil HempMeds® Brasil was the first company to receive approval from the National Sanitary Surveillance Agency (Anvisa) to import a product based on cannabidiol, a substance derived from hemp, a plant of the genus Cannabis. Currently, it is authorized to supply its products, which help in the control of diseases such as epilepsy, Parkinson's, chronic pain and multiple sclerosis, under medical prescription. For these indications, the products can be subsidized by the Brazilian government. HempMeds® Brasil is working on additional approvals for other indications. www.hempmeds.com.br. 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. to Present at the 2021 Sequire Cannabis Conference on April 20 at 1 p.m. EST
Posted on Tuesday April 20, 2021

SAN DIEGO, CA, April 20, 2021 (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 CEO Dr. Stuart Titus will be presenting virtually at a cannabis investing conference, the 2021 Sequire Cannabis Conference, on Tuesday, April 20, at 1 p.m. EDT/10 a.m. PDT. Titus will discuss the Company’s long-running success as a leader in the non-psychoactive cannabinoid industry, including becoming the first to create a global product pipeline of hemp-based cannabidiol (CBD) products, the first to legally ship CBD across U.S. state lines and the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay. Titus was one of the first major U.S.-based investors in the cannabis industry and will share how he intends to continue leading the Company to success as the industry evolves. “The North American cannabis industry has seen tremendous growth in the last year and we are proud to have been one of the first companies to help build the industry into what it has become today,” Titus said. “Our current growth strategy takes the industry’s great progress into account as we prepare to evolve alongside it and continue filling the ever-changing needs of our consumers.” The Sequire Cannabis Conference is a one-day event that brings together a select group of U.S. investors and leading industry participants in the cannabis space. The event will feature video presentations from more than 15 companies, organized in five tracks for attendees. For those who cannot attend the live presentation, a video webcast of the presentation will be available. To learn more about the 2021 Sequire Cannabis Conference and register to participate, visit https://cannabis-conference.mysequire.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 Neuropathix, 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


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