SAN DIEGO, Calif., Aug. 18, 2022 (Globe Newswire) — Trans New Media Wire – Medical marijuana, Inc. (OTC: MJNA) (“the Company”), the first publicly traded cannabis company in the United States that launched the world’s first cannabis-derived products, brands, and supply chain, announced its financial results for the quarter. ending June 30, 2022, and provided an overview of recent operational highlights.
Highlights of the financial and operational results for the second quarter of 2022
● Achieving $7.8 million in net revenue in the second quarter of 2022;
● The total profit for the period ending on June 30, 2022, was 6 million US dollars.
● gross margins for the period 76%. a significant increase compared to the same period last year;
● International operations continued to grow with new revenue milestones
● The company has focused on its pharmaceutical initiatives that have led to milestones such as safety studies on its CBD products as well as the strengthening of its pharmaceuticals division in Brazil. “We continue to lead the industry as a leader in the space by focusing our business on expansion into the international market,” said Medical Marijuana CEO Blake Schroeder. “We have a first-mover advantage in nearly every market the company operates with the potential for continued international expansion into the future. Along with our international expansion efforts, we continued our efforts in the second quarter in the pharmaceutical business because we believe this segment will hold tremendous upside value in the future for our company. In Brazil, we believe we will have products on pharmacy shelves by late this year or early 2023. In addition, researchers at our investment company, Neuropathix, are using grant money received from the National Institutes of Health to continue their clinical research on its proprietary complex. It aims to treat nerve pain and inflammation.”
About Medical Marijuana, Inc.
We are Firsts®. Medical marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabis space: a global group of hemp-based nutritional brands led by Kanawee® And HempMeds®; leader in sourcing high quality, legal, non-psychoactive cannabis products derived from industrial hemp; and the cannabis-based clinical research and plant-based drug development segment led by pharmaceutical investment firms and their partners incl AXIM® Biotechnologies, Inc. And Neurobatics. Medical Marijuana, Inc. As the best CBD product by CNBC. Medical Marijuana, Inc. Also the first company to obtain historical import authorizations for CBD products from the governments of Brazil, Mexico, Argentina and Paraguay and is a leader in the development of international markets. The company’s main product Real scientific hemp oil It has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.
Medical Marijuana, Inc. is headquartered in In San Diego, California, additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. Watch the Medical Marijuana, Inc. video. , click here.
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 Act of 1934, and is subject to the safe harbor laws established by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and are subject to risks and uncertainties. These 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 differ. materially from the data presented here.
Disclosure to the Food and Drug Administration (FDA)
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
Medical Marijuana, Inc. does not sell or distribute any products that violate the US Controlled Substances Act.
Investor Relations Contact:
P. (858) 283-4016