Medical Marijuana Inc (OTCMKTS:MJNA) Posts Revenues Of $ 46.9 Million In 2020

Medical Marijuana Inc (OTCMKTS: MJNA) In 2020 a turnover of 46.9 million USD was reported. At the end of 2020, a cash balance of USD 5.7 million was reported.

Stuart Titus, CEO of Medical Marijuana, said his team had put a significant effort into producing high quality CBD products in overseas markets despite the global impact of coronavirus.

The company ended 2020 in strong growth and maintained the same momentum when it entered 2021.

Congress for the early adoption of cannabis laws

The demand for wellness products is growing rapidly in the US after the pro-cannabis proposal. Several new states such as New Mexico, Virginia, New Jersey, and New York entered the cannabis industry. The US Congress expects several federal cannabis laws to be passed soon. Medical Marijuana is well positioned to take advantage of the new cannabis opportunities in the US.

Business highlights

Medical Marijuana completed a clinical study with its Real Scientific Hemp Oil-X CBD (Cannabidiol). The company published the results of the study in a global journal – ECNE (EC Neurology).

Kannaway, a subsidiary of Medical Marijuana, participated in the Validcare clinical study on cannabidiol liver toxicity in 2020.

Medical Marijuana has vertically integrated its supply chain by expanding its warehouse and production. The expansion enables the company to carry out R&D in-house in addition to internal production.

Neuropathix, a pharmaceutical investment company, completed the NIH-funded Phase 1 clinical trial.

Kannaway, a subsidiary of Medical Marijuana, entered the US CBN market by introducing two innovative CBN isolates. Kannaway established its presence in Europe by introducing premium CBG.

Kannaway also entered the Kyrgyzstan, Kazakhstan and Russia markets. Evolve, the first cannabidiol fitness program, was also introduced.

HempMeds Mexico, a subsidiary of Medical Marijuana, opened a new office in Mexico City.

Stuart will attend a virtual cannabis investment conference on April 20, 2021 at 1:00 p.m. He will discuss his achievements in the non-psychoactive CBD industry by being the first in the world to develop CBD products made from hemp.

It is the first company to legally ship CBD to the United States. Medical marijuana also made history by obtaining permits to import cannabidiol products from the governments of Paraguay, Argentina, Mexico, and Brazil.