Medical Marijuana's (MJNA) mission is to be the premier cannabis and hemp industry innovators, leveraging its team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. MJNA strives to create awareness within the industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.
The company earned net income of approximately $1.47 million on gross revenues of $2.40 million for the quarter ended June 30, 2012. This represents a gross revenue increase of 1200 plus percent quarter-over-quarter when compared to revenue of $196,748 for the quarter ended June 30, 2011.
MJNA Investor Highlights
Legalization - Voters in Colorado and Washington state approved ballot initiatives legalizing marijuana for recreational use on Tuesday. The positive vote, marked history by making Colorado the first state in the U.S. to remove prohibition and legalize marijuana for recreational use for adults over 21. The economic factors of passing these bills are compelling. According to the Associated Press, analysts project that tax revenue could generate somewhere between $5 million and $22 million a year in Colorado alone. Economist Christopher Stiffler at the Colorado Center on Law and Policy says the number could be as large as $60 million dollars added to state coffers by 2017.
Scaling Up - For MJNA's Red Dice Holdings LLC and its licensee, Dixie Elixirs, the positive vote has the potential to increase the product's current customer base from approximately 104,000 registered patients in Colorado to in excess of one million customers in the state.
The decision to pass these historic laws opens the doors for MJNA portfolio companies, such as Red Dice Holdings, to develop future product expansion through licensing agreements with legal distributors for products like its Dixie Elixirs and Edibles brand, which is already known as the leading brand of edibles supplying most of the 500 plus dispensaries in Colorado. The decision will allow large-scale commercial production and sales, is expected to bring both jobs and significant tax revenue to the state economy. The regulation will be overseen by Colorado's Department of Revenue.
Revenue and Earnings Up - The company earned net income of approximately $1.47 million on gross revenues of $2.40 million for the quarter ended June 30, 2012. This represents a gross revenue increase of 1200 plus percent quarter-over-quarter when compared to revenue of $196,748 for the quarter ended June 30, 2011.
Exposure - MJNA's portfolio company, Red Dice Holdings, received national media attention for its brand on 60 Minutes segment Sunday, October 21. Two weeks ago MJNA was on the front-page of Newsweek.
Acquisitions - Acquired two additional Wellness Managed Services accounts which will generate estimated annual revenues of $1.7 million.
Expansion - Begun hemp-based extraction product development beyond the medical marijuana industry, crossing into the nationally legal category of health and wellness with such products as sleep aids, topical and pain management. A market launch of the new products is expected by the end of the second quarter.
Growth - The Company has built additional raw ingredients supply sources on four continents in preparation for international expansion and it continues to develop international sales and distribution channels for its high-value extracts and compounds and related products produced by Dixie Elixirs and Edibles. According to market research data compiled by SPINS, combined U.S. hemp food and body care sales grew in sampled stores by 7.3%, or $2.98 million, over the previous year ending December 26, 2011 to a total of $43.5 million.
Intellectual Property - The Company is aggressively pursuing the acquisition and filing of additional product patents.
Enormous Industry - Medical Marijuana and Industrial Hemp have over 55,000 known uses, all of which are under developed, undercapitalized and underutilized. It has been estimated that marijuana in the United States alone is a $110 billion market and the medical market makes up nearly $17 billion. Today the market is fractured in terms of international, state and local laws as well as with the business and people who participate in the industry. In our opinion, this is where MJNA, with its solid corporate structure, affords shareholders the biggest opportunity to profit.
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