SAN DIEGO, CA, Aug. 18, 2022 (GLOBE NEWSWIRE) — by way of NewMediaWire — Medical Marijuana, Inc. (OTC: MJNA) (the “Firm”), the first-ever publicly traded hashish firm in the US that launched the world’s first-ever cannabis-derived nutraceutical merchandise, manufacturers, and provide chain, introduced its monetary outcomes for the quarter ending June 30, 2022, and supplied an outline of latest operational highlights.
Second Quarter 2022 Monetary and Operational Highlights
● Generated $7.8 million in web income within the second quarter of 2022;
● Gross revenue for the interval ending June 30, 2022, was $6 million;
● Gross margins for the interval had been 76%; a considerable improve over the identical interval final yr;
● Worldwide operations continued to expertise development with new income milestones
● The Firm targeted on its pharmaceutical initiatives leading to milestones resembling security research on its CBD merchandise in addition to furthering its pharmaceutical division in Brazil.“We proceed to steer the trade as a pioneer within the house by focusing our enterprise on worldwide market enlargement,” stated Medical Marijuana, Inc. CEO Blake Schroeder. “Now we have first mover benefit in almost each market the place the corporate operates with potential for continued worldwide enlargement properly into the longer term. Past worldwide enlargement efforts, we continued our efforts within the second quarter within the pharmaceutical house as we imagine this phase to carry super future upside worth for our firm. In Brazil, we imagine we may have merchandise on pharmacy cabinets by late this yr or early 2023. Moreover, researchers at our funding firm, Neuropathix, are using grant cash obtained from the Nationwide Institutes of Well being to additional their scientific analysis on its proprietary compound geared toward treating neuropathic ache and irritation.”
About Medical Marijuana, Inc.
We’re an organization of firsts®. Medical Marijuana, Inc. (MJNA) is a hashish firm with three distinct enterprise items within the non-psychoactive cannabinoid house: a worldwide portfolio of cannabinoid-based nutraceutical manufacturers led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality authorized non-psychoactive hashish merchandise derived from industrial hemp; and a cannabinoid-based scientific analysis and botanical drug growth sector led by its pharmaceutical funding corporations and companions together with AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a prime CBD producer by CNBC. Medical Marijuana, Inc. was additionally the primary firm to obtain historic import permits for CBD merchandise from the governments of Brazil, Mexico, Argentina, and Paraguay and is a pacesetter within the growth of worldwide markets. The corporate’s flagship product Actual Scientific Hemp Oil has been utilized in a number of profitable scientific research all through Mexico and Brazil to know its security and efficacy.
Medical Marijuana, Inc.’s headquarters is in San Diego, California, and extra data is on the market at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.’s company video, click on right here.
FORWARD-LOOKING DISCLAIMER
This press launch might comprise sure forward-looking statements and data, as outlined inside the that means of Part 27A of the Securities Act of 1933 and Part 21E of the Securities Trade Act of 1934, and is topic to the Secure Harbor created by these sections. This materials incorporates statements about anticipated future occasions and/or monetary outcomes which might be forward-looking in nature and topic to dangers and uncertainties. Such forward-looking statements by definition contain dangers, uncertainties and different components, which can trigger the precise outcomes, efficiency or achievements of Medical Marijuana, Inc. to be materially completely different from the statements made herein.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements haven’t been evaluated by the Meals and Drug Administration. This product just isn’t meant to diagnose, deal with, treatment, or forestall any illness.
LEGAL DISCLOSURE
Medical Marijuana, Inc. doesn’t promote or distribute any merchandise which might be in violation of the US Managed Substances Act.
CONTACT:
Public Relations Contact:
Kyle Porter
CEO
CMW Media
P. 858-221-8001
[email protected]
www.cmwmedia.com
Investor Relations Contact:
P. (858) 283-4016
[email protected]
