Penny Stock On the Move Medical Marijuana Inc (OTCMKTS:MJNA …

Medical Marijuana Inc (OTCMKTS:MJNA) is a penny stock that has started to perhaps rekindle some enthusiasm from OTC traders in recent days. There haven’t been any major press releases in that time. However, the company did just put out its 10-K annual report for the period ended December 31, 2016, and also filed an attorney letter arguing for continued “current” status as a Pink Sheet security on the OTC. That said, we think the real driver here is likely about potential product lines.

As such, we would look more at the company’s recent announcement of the results of a new survey from the viewpoint of the parents of children with refractory epilepsy (RE). “Conducted by renowned Mexico Physician Dr. Carlos G. Aguirre Velazquez, the study found that out of 43 cases of children who were treated with cannabidiol (CBD) hemp oil, over 81% showed a reduction in convulsions.”

Medical Marijuana Inc (OTCMKTS:MJNA) bills itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. 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, MJNA 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. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.

Medical Marijuana Inc. is the first publicly held company vested in the medical marijuana and industrial hemp markets.

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As noted above, the company just announced some strong qualitative data on the potential for refractory epilepsy to be treated with some CBD-based regiment.

“These new survey findings where the improvements reported by the parents were related not only to the frequency of the seizures, but also their duration and intensity, come on the heels of another critical study recently performed in Mexico with our Company’s RSHO-X™ product, which also showcased the therapeutic benefits of hemp-based botanical CBD,” said Raul Elizalde, President of the Por Grace Foundation. “We are excited that new evidence on how CBD oil is providing epileptic children with relief continues to emerge in Mexico and we expect this news to spread and help patients all across the world.

As the reader is no doubt aware, we have been somewhat bearish on MJNA stock for most of the past 3-4 months – ie, for the post-election movement. This is a company reporting big numbers. But it is still a pink sheet player showcasing unaudited numbers. We also don’t like the rampant press releases. Highlighting every time your CEO is on a locally programmed radio talk show, or when some third-world country runs a newspaper article referencing the company name – this is not what we want to see.

Think of it this way: Company insiders find ways to enhance their ownership quietly before good things transpire. During such times, management tells a subdued, mundane narrative via infrequent press releases. When you start to see messaging exaggerating the positives, and highlighting every tiny partial-positive, you are in a different stage. MJNA has been the epitome of that notion so far in 2017. And it is likely part of a process of monetization of shares for those with direct knowledge of what’s going on underneath the surface of the story for this company.

At this time, carrying a capital value in the market of $385.4M, MJNA has a chunk ($406K) of cash on the books, which must be weighed relative to about $3.9M in total current liabilities. One should also note that debt has been growing over recent quarters. MJNA is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 18.6%. However, note that these are unaudited results. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of MJNA stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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Jermaine Farmer

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