Medical Marijuana Inc (OTCMKTS:MJNA) recently announced that its subsidiary HempMeds will be exhibiting its line of cannabidiol (CBD) hemp oil products at SupplySide West, taking place in Las Vegas at the Mandalay Bay Resort on Nov. 7-10.
According to the release, “SupplySide West brings together thousands of ingredient buyers and suppliers from the dietary supplement, beverage, personal care, nutrition and cannabis industries. This year’s event will include over 1,300 exhibitors and 16,000 attendees.”
Medical Marijuana Inc (OTCMKTS:MJNA) bills itself as an investment holding company that operates in the medical marijuana and industrial hemp markets.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries. The company licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry.
It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products. In addition, the company provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry.
It’s subsidiary, 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.
Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.
Up to Bat
As we discussed earlier, MJNA recently announced that its subsidiary HempMeds will be exhibiting its line of cannabidiol (CBD) hemp oil products at SupplySide West, taking place in Las Vegas at the Mandalay Bay Resort on Nov. 7-10.
While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action MJNA shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -3% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -4%.
“We are delighted to exhibit our line of our award-winning CBD products at this year’s conference,” said HempMeds President Todd Morrow. “We are committed to supplying the highest quality CBD to retailers and wholesalers throughout the U.S. and this event will offer invaluable opportunities to network and expand our reach.”
Medical Marijuana Inc (OTCMKTS:MJNA) generated sales of $14.8M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 40.5% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($3.8M against $2.1M).
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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