Source: Micro Cap Daily, By Amy Murphy on March 3, 2015
Medical Marijuana Inc (OTCMKTS:MJNA) is trading right along $0.11 support levels on moderate volume. The stock has a history of big moves running every time pot stocks get hot from pennies to $0.50 in 2012 and from $0.10 to $0.479 highs in early 2014.
Medical Marijuana is a fast growing industry worth $2.34 billion in 2014 and according to Greenwave Advisors, if all 50 states legalize MJ and the federal government followed suit and made it legal, the combined sales for Medical and Recreational MJ would reach higher than 35Bln USD by 2020.
According to a recent report from MMJ Business Daily, 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.
The major catalyst however for 2015 is expected to be the rescheduling of marijuana out of its current Schedule I classification. In October U.S District Judge Kimberly Mueller heard testimonies during a five day evidentiary hearing aimed at determining if the Schedule I dangerous drug is unconstitutional.
The ruling is expected to come sometime later this year and many expect to see a domino effect for the entire pot sector culminating in treasury issuing rules and regulations for working with marijuana businesses. Once they are able to use banks the entire business is expected to really take off.
Medical Marijuana Inc (OTCMKTS:MJNA) is one of the original pot stocks that has been around since the beginning. The Company has made a number of acquisitions in the cannabis sector that drive future growth.
MJNA most profitable division is HempMeds, an exclusive master distributor for MJNA that provides cannabidiol (CBD) products made from industrial hemp that are already available in all 50 states and more than 40 countries. The unit boasts fast growing revenues and reported $2,876,438 in sales in Q3.
Another important division of MJNA is its joint venture company, CanChew Biotechnologies that makes a hemp cannabidiol (CBD) oil-infused chewing gum that has seen a significant amount of media attention including being awarded the Triple Leaf Award from the HealthyLivinG Foundation.
MJNA operates a number of division that offer a diversified set of products and services in the the cannabis and hemp industries. The Company owns or has partial ownership in the following business: Wellness Managed Services 100% Canipa Holdings 80% HempMeds PX 80% Red Dice Holdings 60% CanChew Biotechnologies 50% HempVap™ 50% KannaLife Sciences 16.5%
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At the A4M Las Vegas conference, Dr. James J. Bradstreet MD, MD(H), FAAFP, known for his collaboration on cannabinoid research, is conducting the CME lecture on Thursday, Dec. 11: Understanding the Pivotal Role of the Endocannabinoid System and Cannabinoid Ligands in Aging, Obesity, Heart Disease, Neurodegeneration and Pain. The A4M is also releasing a scholarly article on cannabinoids by Dr. Bradstreet at their 2014 Las Vegas World Congress.
Andrew Hard, a spokesperson for HempMeds said “We are very excited to continue educating the doctors and professionals gathered at A4M on the emerging world of natural CBD hemp oil and the exciting new developments at HempMeds, As we head into 2015, the news and updates for this emerging industry are going to shock the world, and we’re very eager to spread the good news.”
Article source: http://www.microcapdaily.com/back-at-baseline-medical-marijuana-inc-otcmktsmjna/19229/