Medical Marijuana, Inc. (OTC:MJNA), a leading cannabis and
industrial hemp industry innovator, today announced the release of
its quarterly financial and shareholders report (Post 03/27/2014 -
OTC Markets). The Company earned a net income of approximately $5.2
million on gross income of approximately $8.4 million, derived from
sales and the final quarterly PhytoSPHERE payment, for the quarter
ending December 31, 2013. Below are the Company's fourth
quarter 2013 operating and developmental highlights.
Operating highlights for the fourth quarter are as
follows:
HempMedsPX
- HempMedsPX posted revenues of $1,403,017 in Q4, up from
$248,859 in Q3.
- The company is in the process of evaluating several potential
employees or new hires to run and further develop HempMedsPX.
- Hired internal legal and patent consultants, writers,
marketing/sales managers, sales staff, distribution staff, a
Director of Communications as well as various marketing, website
management and product consultants.
- As of December, 31 2013, the Company has forty-six (46) team
members — including part-time or contracted — within our corporate
structure (including subsidiaries).
- The Company as experienced significant rapid growth and as such
is in the process of securing a warehouse and distribution center
as well as new corporate offices to facilitate expansion.
- Exhibited products and/or sponsored a variety of trade shows
including:
Sept. 30-Oct. 2: Miami Wholesale Expo, Miami Oct. 5-6: The
Ultimate Women's Expo, San Francisco Oct. 10-20: Ohio Rights Group
Tour Oct. 19-20: The Ultimate Women's Expo, Phoenix Oct. 21-23:
2013 ISPA Conference & Expo, Las Vegas Oct. 22-24:
Champs, Denver Oct. 23-26: Drug Policy Alliance (DPA), Denver Oct.
26-27: The Ultimate Women's Expo, Los Angeles Nov. 6-8: 2nd Annual
National Marijuana Business Conference & Expo, Seattle Nov.
9-10: Green Festival, San Francisco Nov. 14-15: Supply Side West,
Las Vegas Nov. 15-17: Michigan Medical Marijuana Trade Show Dec. 3:
The High Times Medical Cannabis Cup, Amsterdam Dec. 5-7: SOHO
Natural Products Expo, Orlando Dec. 12-15: 21st Annual World
Congress on Anti-Aging, Regenerative & Aesthetic Medicine
- Represented the winner of the world-renowned 2013 High Times
Cannabis Cup (Amsterdam) contest for Highest (hemp) CBD
Concentrate.
CanChew Biotechnologies
- Sales of CanChew gum for Q4 were $57,620, up from $33,887 in
Q3.
- MedChewRX, a cannabis-based THC/CBD pharmaceutical drug, is
still scheduled to move forward with its clinical trials in Europe
in 2014, with the overall clinical development taking three to five
years.
PhytoSPHERE Systems
- PhytoSPHERE received final payment of $6,500,000 payment from
CannaVest which was paid in 1,083,333 shares of CannaVest common
stock. Hemp Deposit Distribution Corp. (HDDC) has deferred
their 20% payment to support expansion to enhance their
investment.
Red Dice Holdings
- Red Dice Holdings reported total income for Q4 of $433,129, up
from $321,671 in Q3.
Wellness Managed Services
- The Company finalized a transaction that will allow for
staffing and compliance management service contracts to be
developed. The company will initially focus on Colorado and
Arizona.
A statement from MJNA.
Medical Marijuana, Inc is extremely pleased with Q4 performance
which has exceeded expectations in sales and awareness of the
benefits of CBD-rich hemp oil products. Due to rapidly expanding
growth, the Company is in the process of securing additional office
space to relocate the corporate office and obtain a larger
warehousing distribution center. It is anticipated that sales and
customer service will remain at the existing facility.
To reach a wider audience, HempMedsPX chose to participate in
cannabis industry, personal care and spa, international reform
policy, health and wellness, and natural products events to
showcase their diverse hemp CBD product offerings. The Company's
efforts have been well received and resulted in thousands of
business-to-business and business-to-consumer impressions,
distribution contacts, and sales leads. There was a significant
increase in sales as a direct result of participating in an
aggressive exhibit schedule that began in Q3 2013 and continued
through Q4 2013.
National community outreach programs were also launched in an
effort to support families facing epilepsy, autism, and other
debilitating health challenges. Significant donations were made to
the Hope4Harper 5K Run and the San Diego Epilepsy Foundation.
HempMedsPX will continue and expand its charitable outreach efforts
in 2014.
In Q4, HempMedsPX was awarded the Doctor Trusted seal for its
e-commerce websites — a significant step toward broader mainstream
acceptance of hemp-based CBD products and the Company in
general.
2013 ended with a surge in sales and interest in CBD-rich hemp
oil products. We extend our deepest gratitude for the continued
support of our shareholders, without whom none of this expansion
would have been possible. We are excited about future endeavors and
about the future of the cannabis industry in general.
As legalization spreads throughout the United States and the
world, we are ready to address the public demand for quality
hemp-based CBD products and service solutions. We invite
shareholders and the general public to interact with us via the
MJNA Facebook page and the HempMedsPX Facebook page, and for real
time updates and information on company activities and
announcements. We encourage anyone interested in additional details
about Q4 2013 to refer to Post 03/27/2014 - OTC Markets.
About Medical Marijuana Inc. Our mission is to
be the premier cannabis and hemp industry innovators, leveraging
our team of professionals to source, evaluate and purchase
value-added companies and products, while allowing them to keep
their integrity and entrepreneurial spirit. We strive to create
awareness within our industry, develop environmentally-friendly,
economically sustainable businesses, while increasing shareholder
value. For more information, please visit the Company's website at:
www.MedicalMarijuanaInc.com
About CannaVest Corp. CannaVest Corp. is in the
business of investing and developing hemp-based cannabinoid
companies. CannaVest Corp. also develops, produces, markets and
sells end-consumer products to the nutraceutical industry
containing the hemp plant extract, cannabidiol (CBD). Additionally,
the company resells — to third parties — raw product acquired by
CannaVest Corp. pursuant to the company's international supply
relationships. CannaVest Corp. seeks to take advantage of an
emerging worldwide trend to re-energize the production of
industrial hemp and to foster its many uses for consumers.
Cannabinoids (cannabidiol/CBD) are natural constituents of the hemp
plant, and CBD is derived from hemp stalk and seed. Additional
information is available from OTCMarkets.com or by visiting
CannaVest.com.
About HempMedsPX HempMedsPX™ offers
mainstream marketing, sales, customer service, and logistics for
the cannabis industry. HempMedsPX™ is a corporate portfolio company
of Medical Marijuana, Inc. (OTC Pink:MJNA) and the exclusive master
distributor and contracted marketing company for CannaVest Corp and
Medical Marijuana, Inc. In addition to handling sales and
distribution, HempMedsPX™ is the communication hub for the Medical
Marijuana Inc. portfolio of companies.
About CanChew Biotechnologies CanChew
Biotechnologies focuses on the treatment of pain and other medical
disorders with the application of chewing gum-based
cannabis/cannabinoid medical products as well as food and
nutraceutical products for general well-being.
The company is focused on the R&D and execution of their
clinical development plan and potential out-licensing of their
technology. Clinical development focuses on the R&D of the
formulation, production and the development of chewing gum-based
products for the treatment of conditions like pain, nausea and
vomiting, anorexia, spasticity and various other medical issues.
For more information on the company, visit CanChewBiotech.com.
About PhytoSPHERE Systems PhytoSPHERE Systems
is a global phytocannabinoid biotechnology company based in San
Diego, California with an exclusive license for use by CannaVest
Corp. The company utilizes advanced cultivation methods and
state-of-the-art processing technology leading to development of
pharmaceutical, nutraceutical and food products.
PhytoSPHERE Systems, the manufacturer of the CBD-rich hemp oil
used in Real Scientific Hemp Oil (RSHO), has developed special
cultivars (similar to "strains") that produce hemp that is
especially rich in CBD, making it possible for PhytoSPHERE to offer
all-natural products with high concentrations of hemp-based CBD.
For more information, visit: PhytoSPHERESystems.com
About Wellness Managed Services Wellness
Managed Services provides management support and services
to cooperatives, collectives, health and wellness facilities,
and medical clinics throughout North America. The services offered
range from practice management to product distribution. Our
mission is to provide a comprehensive array of clinically
supporting health and wellness products and services which will
attract patients while providing for a fully operational,
profitable enterprise. We seek to provide facilities and patients
alike with the latest in quality products and support services that
will serve the health and wellness community. For more info, click
here.
About Red Dice Holdings Red Dice Holdings, LLC
("Red Dice") is the owner of the Dixie Brand of products including,
Dixie Botanicals. The company has over 70 unique consumer products
and is one of the most recognizable cannabis and hemp brands in the
world. For more information on Red Dice Holdings, click here.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE These statements
have not been evaluated by the FDA and are not intended to
diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER This press release may contain
certain forward-looking statements and information, as defined
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of Medical Marijuana,
Inc. to be materially different from the statements made
herein.
LEGAL DISCLOSURE Medical Marijuana, Inc., CannaVest Corp., and
HempMedsPX do not sell or distribute any products that are in
violation of the United States Controlled Substances Act (US.CSA).
These companies do grow, sell and distribute hemp-based products
and are involved with Federally Legal Distribution of Medical
Marijuana-based products within certain international markets.
Cannabidiol is a natural constituent of hemp oil.
CONTACT: For further information, please contact:
Investor relations contact:
Stuart T. Smith
SmallCapVoice.Com, Inc.
P. 512-267-2430
info@smallcapvoice.com
Corporate Contact:
Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
www.medicalmarijuanainc.com
www.facebook.com/mjnainc
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