Medical Marijuana, Inc. Announces Largest Revenue Quarter and Sales Month in Company History, 269% Revenue Increase From Q2 2016
Medical Marijuana, Inc. Wholly Owned Subsidiary Kannaway Has Largest Sales Month in June Since Company Was Founded
PR Newswire
SAN DIEGO, July 11, 2017
SAN DIEGO, July 11, 2017 /PRNewswire/ – Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the second quarter of 2017 generated the largest revenue quarter in the Company’s history. Additionally, the Company celebrated the largest-ever single month of revenue in June 2017 as well as the largest sales month and quarter for wholly owned subsidiary Kannaway.
The Company saw a gross revenue increase from $1,660,633 in Q2 2016 to $6,131,415 in Q2 2017, a quarter-over-quarter increase of 269% making it the largest quarter in the Company’s history. The Company also saw year-to-date and year-over-year revenue increase from $3,177,103 to $9,651,088 an increase of 203%.
“As a well-known Company of Firsts, we are encouraged to see the Company achieve a new milestone – hitting its highest revenue mark ever in this last financial quarter,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We continue to work closely with our portfolio of companies to ensure their success, and look forward to breaking new records as we continue to expand our footprint in new markets.”
“We are confident that Kannaway® is on a trajectory that continues to exceed expectations,” said Kannaway® CEO Blake Schroeder. “We are proud to be a part of the Medical Marijuana, Inc. family, which actively supports efforts to increase access to cannabidiol (CBD) products worldwide.”
First Harvest Announces Uplisting to OTCQB Market
Fully and Current in SEC Reporting
TAMPA, FL / ACCESSWIRE / July 11, 2017 / First Harvest Corp. (OTCQB: HVST) (the “Company” or “First Harvest”), a technology, media and mobile gaming platform with a focus on the cannabis industry, announced today that its stock has commenced trading on the OTCQB Market (“OTCQB”) after successfully uplisting from the OTC Pink Market.
The Company believes the OTCQB can provide enhanced investor benefits including higher reporting standards, greater access to analyst coverage and news services, and more comprehensive compliance requirements. “We anticipate that trading on the OTCQB will raise our visibility in the investment community and broaden our shareholder base,” stated Kevin Gillespie, CEO of First Harvest.
The OTCQB is a venture market designed for early-stage and developing US and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. To learn more, visit OTCQB.
“Uplisting to the OTCQB is another significant milestone for our Company,” commented Mr. Gillespie. “We believe trading on the OTCQB will provide our shareholders and prospective investors a greater degree of transparency and liquidity, as well as exposure to institutional investors that would otherwise not invest in Pink Sheet companies.”
United Cannabis Corporation Receives Approval To Begin Manufacturing And Distribution Of Products In Jamaica
Prana Hemp Aromatherapy Roll-On, Capsules and Sublingual Drops Are First Products Registered With Jamaica’s Ministry Of Health
DENVER, CO / ACCESSWIRE / July 11, 2017 / United Cannabis Corporation (OTCQB: CNAB) (the “Company” or “United Cannabis”) today announced that Jamaica’s Ministry of Health has registered its Prana P5 Hemp Bio Nutrient Capsules, Aromatherapy Roll-On and Sublingual Drops, and approved a Jamaican bilateral partner of the Company, Caribbean Research & Development Limited (“CRD”), to begin production in Jamaica.
Through CRD, the Company now has approval in a legal market to research, cultivate, manufacture, and distribute its CBD-based products in Jamaica and reciprocal countries, giving United Cannabis and CRD immediate means to revenue. The Company has begun to secure facilities, hire and train staff and establish necessary contacts. The Company expects to commence production within 90 days.
Additionally, management believes the ability to produce in Jamaica provides United Cannabis with a real competitive advantage beyond the United States; it enables the Company to access other markets. Countries that allow the purchase of hemp-based products from Jamaica currently include Canada, Australia and New Zealand, and the Company has begun pursuing strategic partners and customers in those markets.
The approval includes the hemp-derived CBD-based formulations from the Company’s full cannabis-centric product lines. United Cannabis’ aromatherapy roll-on collection is a holistic, solvent-less botanical transdermal oil made from ratio-specific whole plant cannabis oil, cannabis-derived terpenes, almond oil, wild arnica, lavender flowers, juniper berry, and roman chamomile. Patients have found these products effective in treating arthritis, neuropathy, acute pain, joint aches, muscle tension, muscle spasms, muscle recovery, migraines, and various skin conditions.
The Prana Sublingual Collection is another effective delivery mechanism for United Cannabis’ proprietary cannabis-centric therapies. Prana Sublingual Drops are available in 5 categories, “raw” and “active” formulations, and accurately deliver 1mg doses for patients. Prana Sublingual drops are an alternative to the oral route and are particularly useful when a rapid onset of micro-dosing is desired, with better patient compliance than oral tablets.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “This is the culmination of a four-year effort by the management of United Cannabis to create a relationship with a supportive government in the Caribbean in order to give patients in the area access to improved, alternative health choices, greater access to research, and to create jobs and tax revenues for the local community. To that end, we have initially budgeted over $2 million for investment in facilities and operations at CRD to help ensure a world class operation in Jamaica.”
Tony Verzura, the Company’s Chief Technology Officer, added, “This is a very big milestone for United Cannabis, CRD, and Jamaica! In the United States, we face many challenges in researching the cannabis plant, however, Jamaica is positioning itself to be a leader in cannabis research and seeks to be a major supplier of cannabis-based products across the world. This approval not only provides us the opportunity to begin generating revenue, but the ability to initiate research brings us a step closer to laying the foundation for clinical studies, and that is our primary, long-term objective.”
With Over $2.1 Million in Total Revenues, April and May Figures Top First Quarter Results as PotNetwork Continues Cultivating for Growing Returns
As Recent Returns Soar Well Over First Quarter’s Revenues of $1,858,347.48, Management Sharpens Focus on Fulfilling Rising Demand
FT LAUDERDALE, FL–(Marketwired – Jul 11, 2017) – PotNetwork Holding, Inc. (OTC: POTN) is pleased to announce today that its wholly owned subsidiary, Diamond CBD, Inc., after a strong record breaking first quarter, continues building momentum into the summer with heightened expectation for Diamond CBD‘s highly sought after consumable product line. After the past two months of this quarter, revenue totals have reached $2,106,245.87, considerably exceeding the Company’s first quarter results.
“At this point, we are focusing our attention on production since our strengthened efforts have been rewarded with even more consumer enthusiasm. As new consumer orders meet growing recurring order flow, we are strategizing to maintain product availability to meet continually heightening demand,” stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
In April, the Company disclosed that having originally estimated first quarter revenues of $1.7 Million, final figures ultimately exceeded estimates by $100,000.00. Since then, Diamond CBD has reported that the past six months of trade show, expo, and convention attendance, demonstrating Management’s determined commitment to achieve strong results, had yielded product demand requiring significant expansion of its manufacturing operations.
Eighty thousand (80,000) Chill Gummies were sold as a result of the recent highly productive road show causing the Company to entirely sell out of its increasingly popular proprietary Chill Gummy line. Diamond CBD recently had announced that for the month of April 2017, the Company had accomplished a considerable boost in revenues year over year. The Company’s revenues in April 2016 were just under $40,000.00, a reflection of the Company’s infancy. With record breaking April 2017 sales of over $1 Million Dollars, the Company has achieved substantial growth of over 25 times.
PotNetwork Holding’s Diamond CBD’s recent attendance at the SeeThruEquity event resulted in an equity analyst setting a price target for the Company’s shares of $0.25 per share. Other recent show/expo attendance included a presentation at the 7th Annual LD Micro Invitational, being a featured guest on a national radio and webcast, launching new product lines at a major New York trade show, and receiving a positive reception at the Fourth Annual Cannabis World Congress & Business Exposition (2017 CWCBExpo), the definitive business event of the cannabis industry. The Company has also recently presented at the 2017 Marcum Microcap Conference and attended the Southeast Cannabis Conference & Expo.
MariMed Raises $5.2 Million for Cannabis Facility Development; Spurs Revenue Growth
BOSTON, July 11, 2017 (GLOBE NEWSWIRE) — MariMed Inc. (OTCQB:MRMD) in June completed a capital raise of $5,150,000 to fund development and expansion of client medical cannabis facilities in Maryland and Delaware and marketing of MariMed’s Kalm Fusion® line of precision dosed cannabis products into additional states. MariMed, an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities, assisted two clients in opening medical cannabis facilities in the past two months and has six client facilities currently in progress. The capital was raised through the sale of 22,178,889 shares of stock in an exempt private placement to accredited investors, without any advertising and without the payment of any commissions.
“The funding we received demonstrates strong investor support and confidence in MariMed’s business model and proven track record of our management team,” stated Mr. Robert Fireman, CEO of MariMed Advisors. “We have successfully built a business model with proven best practices that we have scaled and replicated in our clients’ cannabis facilities in multiple states. In the first quarter of 2017, MariMed Inc., revenue was nearly double that of the comparable quarter in 2016. Management expects to continue this similar growth trajectory going forward.”
Cannabis has been legalized for medical or recreational use in 28 states and Washington DC, and legalization is being considered in additional states. Medical cannabis is legal throughout Canada and legislation implementing legalizing recreational use nationwide is in progress. The Cowen Report has projected that the U.S. legal cannabis industry will grow from $7 billion to $50 billion by 2026.
“MariMed has a strong new business pipeline that contains many more potential license applicants and new facilities in the works as additional states legalize cannabis and loosen their restrictions,” stated Mr. Jon Levine, CFO of MariMed Advisors. “Going forward, MariMed is well positioned to take advantage of this tremendous opportunity with our unique business model coupling the proven expertise to win licenses, design, build and operate facilities successfully within the legal parameters, along with much-needed funding for cannabis companies to build their facilities.”
