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What Is The Buzz Surrounding MEDIJANE HLDGS INC (OTCMKTS:MJMD)?

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On March 1, 2014, MEDIJANE HLDGS INC (OTCMKTS:MJMD) discontinued its previous businesses as an gas and oil enterprise to pursue its businesses as a medical marijuana distribution and sales firm. The results of businesses for the quarter and six-month period closed August 2015 highlight results of the new medical marijuana business.

The financial performance

Medijane filed Form 10-Q wherein it stated that revenues for the quarter ended August 2015 was $17,830 compared to $2,780 in the comparable period. Cost of Sales came at $10,692 against $1,550 in the same period, a year earlier.

Revenues for the six-month period closed August 2015 was $20,265 compared to $2,780 in the comparable period. Cost of Sales for the six-month period closed August 31, 2015 was $11,590 against $1,550, a year ago. Revenues and the linked expenses for the reported period were majorly from the sale of CBD goods.

Amortization expense for the reported quarter was $216,799 compared to $0 in the same period, a year earlier. These expenses for the six-month period was $433,600 against $0 in the comparable period, a year earlier. Amortization expense indicates amortization expense linked to the firm’s licensing and distribution deals.

The expenses

Product development expense in the reported six months came at $15,000. This expense category in FY2014 period highlights payments to Phoenix Bio Pharm for the development of branded offerings of the firm.

Medijane reported that sales and marketing expenses for the quarter ended August 2015 amounted to $6,306 compared to $56,435 in the comparable period. Sales and marketing costs for the reported six-month period was $24,345 compared to $147,922 in the same period, a year earlier. The decline in Sales and Marketing costs was due to activity in the FY2014 to expand Medijane’s sales organization. In FY2015, sales and marketing expenses highlight continued initiatives to promote the Company’s products.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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