Cannabis industry participants are diversifying into a variety of business opportunities for not only the key players involved but also for less established start-ups. Growth estimates for the legal marijuana industry are impressive, with ArcView Market Research suggesting it will reach $22 billion by 2021, and that’s only considering the US market.
The market world wide is estimated to reach over $55 billion by 2025 with an increasingly larger share of revenues coming from subsidiary services which support the cultivation, processing and end consumption of the highly regulated plant. Companies such as SinglePoint, Inc. (OTC: SING), Medical Marijuana, Inc. (OTC: MJNA), Solis Tek Inc. (OTC: SLTK), Supreme Pharmaceuticals Inc. (OTC: SPRWF) and Scotts Miracle-Gro Company (NYSE: SMG), moving into parallel business ventures makes economic sense.
MJNA – Medical Marijuana Inc.
Medical Marijuana, Inc. (OTC: MJNA), is a prominent industry player whose portfolio of products and services focused on serving the legal hemp industry. Both shares and their fundamentals have been under pressure in recent months with share prices down over 50% year to date, currently at $0.0824 down from $0.201 in January.
More recently one of its subsidiaries, KannaLife Sciences, a pharmaceutical and phyto-medical business, recently signed former three-time NFL Pro Bowl and Kansas City Chiefs placekicker Nick Lowery to its corporate advisory board. Lowery will be speaking out about chronic traumatic encephalopathy (CTE), a degenerative disease caused by repeated head trauma. KannaLife’s efforts to bring a clinically-approved treatment for CTE to market could be a game changer for treatment of this devastating type of head injury. Evidence of CTE is being seen in post-mortem examinations of prominent football players who suffered severe violent mood swings, depression and other cognitive difficulties that may have contributed to their deaths, according to a company news release.
Medical Marijuana, Inc. (MJNA) is a development-stage company, which operates in the cannabis and industrial hemp space in America. Through its subsidiaries and investment holdings, the Company focuses on the development, sale and distribution of hemp oil that contains naturally occurring cannabinoids, including cannabidiol (CBD) and other products containing CBD-rich hemp oil (Legal Hemp). The Company’s products are formulated for the pharmaceutical, nutraceutical and cosmeceutical industries, including dietary supplements, prescription-based hemp oil for sale for the treatment of illnesses and conditions, and skin care products.
MJNA has a market cap of $262 million
In the 12 months ending 31st Dec 2016 made a gross profit of $4.64million on Revenue of $8Million. Total operating expenses were $23.23 million generating an operating loss of $15.23 Million, down from $99 million the previous year.
Medical Marijuana Inc (MJNA) shares are on chartist’s watch as the stock is edging below the MACD Histogram zero line. Current levels place the share price around 0.0803, while the MACD indicates a bearish trend.