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Medical Marijuana Reports Record Month of Sales

Ryan Allway

July 20th, 2017

News, Top News

The cannabis industry is projected to surpass $50 billion by 2026, according to Cowen & Co., driven by the legalization of medical and recreational legalization throughout the United States. In addition to cannabis products, cannabidiol (CBD) has been gaining traction as a healthy supplement that could help promote health and wellness. Investors may want to take a closer look at companies involved in this rapidly growing industry subset.

In this article, we will look at Medical Marijuana Inc.’s (OTC Pink: MJNA) Kannaway® subsidiary and its record monthly sales in June.

Growing Revenue

Medical Marijuana recently reported second quarter gross revenue that grew 269% to $6,131,415 and year-to-date revenue that increased 203% to $9,651,088. With its largest single month of revenue ever, Kannaway® was a key contributor to the successful quarter.

“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 in a recent press release. “We continue to work closely with our portfolio 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 Black Schroeder in the same press release detailing the growth. “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.”

In addition to Kannaway®, the company owns several other subsidiaries involved in many areas of the cannabis industry. These businesses include its HempMeds businesses focused on the development of hemp-based CBD products and its stake in AXIM Biotechnologies Inc. (OTCQB: AXIM) – a pharmaceutical company developing chewable cannabinoid products designed to treat several different medical conditions.

Innovative Business

Kannaway® is a lifestyle brand focused on all-natural ingredients, including high-quality cannabidiol-rich (CBD) hemp oil. These products are manufactured from a full-spectrum cannabinoid blend extracted from harvested hemp plants and packaged pure, with no other ingredients or additives. With growing demand for CBD products, the company’s products have enjoyed a lot of success over the past couple of years.

The company’s primary products include:

  •      Rev!ve – Bi-Bong herbal formula, organic MCT oil, and natural hemp-based CBDs designed for a healthy lifestyle.
  •      Kannaway Energy Chews – CBD hemp oil, caffeine, and B-vitamins for the controlled release of energy throughout the day.
  •      Defined Transformation – Anti-aging skin care line that blends botanicals and detoxifying herbs with hemp-based CBD oil.
  •      HempVap – The first hemp-based CBD vaporizing product on the market that doesn’t use high nicotine to achieve a buzz.
  •      Kannaway’s Pure CBD – A line of pure CBD products designed for customers looking to avoid even trace amounts of THC.

These products are sold through a multi-level marketing business model that leverages brand ambassadors to market goods to consumers. Brand ambassadors are paid a commission or their own sales while building a sales organization and receiving commissions or bonuses on sales generated by their own distributors. As the only cannabis MLM, the company was awarded Start-up of the Year in 2014 by the Academy of Multi-Level Marketing.

Currently, the company’s products are distributed in the United States with plans to move into Europe, Spain, Mexico, Canada, Japan, Portugal, and the United Kingdom.

Looking Ahead

Medical Marijuana Inc. (OTC Pink: MJNA) represents a compelling investment opportunity in the cannabis industry. With a rapidly-growing MLM business, the company is well-positioned to expand into the United States and other markets with a consumer-level sales force. Investors also have access to the company’s many other businesses and equity stakes that help diversify risk across many different industry subsectors.

For more information, visit the company’s website or CannabisFN’s company profile.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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