SAN DIEGO, Oct. 2, 2014 (GLOBE NEWSWIRE) -- Medical Marijuana Inc. (OTC Pink:MJNA), a leading cannabis and industrial hemp industry innovator, today announced the release of its quarterly financial and shareholders report (Post 09/30/2014 - OTC Markets). The Company had product sales revenues of $4,821,741 compared to $4,017,774 for the prior quarter. Below are the Company's second quarter 2014 operating and developmental highlights.
HempMeds operating highlights for the second quarter are as follows:
- HempMeds™ posted revenues of $4,091,460 in Q2, an increase from the prior quarter's revenue
- Due to popularity and use by its customers, rebranded to simply "HempMeds™" (from HempMedsPX).
- Countering mainstream media reports that "CBD" is only available in Colorado, HempMeds™ launched the "DON'T MOVE" advertising campaign.
- HempMeds™ aligned marketing resources with the Medical Cannabis Network, advertising CBD-rich hemp oil products to tens of thousands in its online network.
- HempMeds featured CBD-rich hemp oil products in the "product theater" at The American Academy of Anti-Aging Medicine (A4M) world congress in Orlando, Florida. CBD was a topic that gained attendees continuing education credits during the conference.
- A third-party laboratory report was published on the quality of CBD-rich hemp oil provided by HempMeds to its customers worldwide.
Media exposure expanded to reach a global audience in the second quarter. Media coverage included:
- AutismOne's Voice America Show "A Conversation of Hope" introduced HempMeds as the exclusive gold sponsor of the 2014 global conference.
- HempMeds was featured by conservative talk show host Roger Hedgecock.
- Andrew Hard, Director of Public Relations, was featured by Next News Network's Gary Franchi and explained domestic hemp history and the "green rush" to the network's 8 million viewers in the Boston and South Florida audiences.
- During the Chicago Cannabis Conference, HempMeds was featured by global news distribution company AFP reaching millions of viewers worldwide.
- The Robert Scott Bell Show on Natural News Radio featured executives from HempMeds live, during re-broadcasts in multiple countries and through show downloads on iTunes.
- HempMeds was featured by Fox5, CBS 8, ABC 13, NBC 3 and the Las Vegas Review Journal during the International Cannabis Association's business-to-business mentoring conference.
- Other media highlights included appearances on WGN TV and radio, NBC 5 Chicago and a piece in the Chicago Sun-Times.
Trade shows and expos featuring products from HempMeds™ included:
- April 2 - CannaBusiness Money Shows Boston
- April 4 - CannaBusiness Money Shows Chicago
- April 7 - CannaBusiness Money Shows San Francisco
- April 7 - Americans for Safe Access Unity Conference Washington, D.C.
- April 15 - National Cannabis Industry Association Conference Denver
- April 17 - Big Industry Show Denver
- April 19 – 20 High Times Cannabis Cup Denver
- April 20 - HempCon San Bernardino
- April 27 - Green Fest NY
- April 28 – May 2 HerbDayOnline.com
- May 16 – 17 The A4M World Congress Orlando
- May 21 – 25 AutismOne Chicago
- June 7-8 Chicago Cannabis Conference
- June 22 – 23 International Cannabis Association Las Vegas
- June 24 – 25 National Cannabis Industry Association Denver
Continuing the Company's community outreach efforts, the Company supported multiple organizations through sponsorships and charitable donations in the second quarter of 2014. Those organizations included MyCompassion.org, AutismOne, Americans for Safe Access, the National Cannabis Industry Association, and International Cannabis Association.
Medical Marijuana Inc.'s subsidiary Wellness Managed Services launched a joint venture with MPS Security under the brand MPS International (MPSI). Operational highlights from Q2 include the following:
- Deployed armored vehicles from the Denver location.
- Won three sizeable security contracts including the Denver Mart.
- Executive nomination for the National Cannabis Industry Association Board of Directors.
- Presented to hundreds of business professionals from around the country the necessity for a solid security solution as the starting point to entering the cannabis industry at the International Cannabis Association conference in Las Vegas.
- Revenue of $81,476 in Q2
In addition to these highlights, MPSI expanded their service offerings to include security consultative services.
CanChew™ Biotechnologies expanding their marketing efforts in the second quarter. Highlights include:
- Sales of CanChew™ gum were $12,697 in Q2
- Relocated east coast office to the "Trillion Dollar Mile" in Englewood Cliffs, New Jersey
- Legal staff secured multiple trademarks
- Augmented staff in the areas of: marketing, online and social media, public relations and web development
- CanChew™ Biotechnologies website was redesigned
- Executive interviews were conducted for publications
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Published features include:
- Readers Digest Magazine
- Newsweek Magazine
- Dr. Oz The Good Life Magazine
The Company is currently seeking to expand its direct sales force. Those interested in a career development with an innovative phytoceutical global manufacturer, please send resumes to CanChew™ Biotechnologies 560 Sylvan Avenue, 3rd Floor Englewood Cliffs, NJ 07632 (855) 232-9953 or by email to info@canchewbiotech.com
HempWire, LLC
- Medical Marijuana, Inc.'s joint venture with LiveWire Ergogenics, LLC, HempWire, LLC, begins sourcing CBD-rich hemp oil from HempMeds for manufacturing of the world's first CBD-rich hemp oil energy chew squares.
aNew Chocolate, LLC
- Medical Marijuana, Inc. launches aNew Chocolate, LLC into the healthy snack market and unveils the world's first CBD-rich hemp oil chocolate bar at Denver's historic "420 weekend."
- Medical Marijuana Inc. and Dixie Holdings (DH), the owner of Dixie Elixirs and Edibles, one of America's first revolutionaries in cannabis-infused edibles, topicals and tinctures, agreed to execute a mutually beneficial Asset Purchase and Settlement Agreement. As part of the agreement, Dixie Holdings agreed to purchase its brand and all IP from Red Dice Holdings pertaining to Dixie Elixirs and Edibles, enabling DH to develop and expand its family of THC-infused products; also MJNA will own the brand and IP specific to Dixie Botanicals, allowing it to focus that brand specifically on Hemp-derived CBD-based products.
- Medical Marijuana, Inc. and Dixie Elixirs agree to an amicable resolution of Red Dice Holdings partnership.
- Revenue of $352,911.71 in Q2
A statement from MJNA.
Medical Marijuana Inc. is extremely pleased to announce a Q2 performance that shows significant revenue growth. This took place while the Company moved headquarters and expanded operations. The Company is extremely proud of the success of all of our portfolio companies and we remain grateful to our loyal customers and staff who made this possible.
One of the MJNA portfolio companies that is blazing a trail is HempMeds™. The Company's mission is to be the most trusted supplier of CBD-rich hemp oil products. As HempMeds™ continued to grow its strategic partnerships and marketing endeavors, the news media took notice of the open availability of CBD-rich hemp oil products from HempMeds™. The increased awareness of CBD-rich hemp oil products was a catalyst to achieving growth quarter-to-quarter. As a result, HempMeds™ has proven to, once again, be a growth engine for the MJNA family of companies.
The Company is staffed with an extremely talented group of individuals who believe in giving back through community outreach. MJNA's support was shared with a wide range of non-profit organizations that helped increase awareness of CBD-rich hemp oil products to their members, sponsors and supporters. The collective efforts of these organizations created a platform for thousands of consumers to learn about CBD-rich hemp oil products and their open availability. MJNA is honored to contribute to these wonderful organizations and be of continued service.
As the Company continues to grow, the MJNA portfolio of companies seeks qualified and driven individuals. Those interested in being a part of a rapidly emerging industry through established companies please submit a resume to HR@hempmedspx.com.
About Medical Marijuana Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com.
About HempMeds
HempMeds™ offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. HempMeds™ is a corporate portfolio company of Medical Marijuana, Inc. (OTC Pink:MJNA) and the Company's exclusive master distributor and contracted marketing company. In addition to handling sales and distribution, HempMeds™ is the communication hub for the Medical Marijuana Inc. portfolio of companies.
About LiveWire, LLC
LiveWire Ergogenics Inc. (OTCQB:LVVV) was formed in 2008 and its products are available for purchase at thousands of retail outlets nationwide, or are available online at: http://www.livewireenergy.com.
About CanChew Biotechnologies
CanChew Biotechnologies focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products as well as food and nutraceutical products for general well-being.
The company is focused on the R&D and execution of their clinical development plan and potential out-licensing of their technology. Clinical development focuses on the R&D of the formulation, production and the development of chewing gum-based products for the treatment of conditions like pain, nausea and vomiting, anorexia, spasticity and various other medical issues. For more information on the company, visit CanChewBiotech.com.
About Wellness Managed Services
Wellness Managed Services provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics throughout North America. The services offered range from practice management to product distribution. Our mission is to provide a comprehensive array of clinically supporting health and wellness products and services which will attract patients while providing for a fully operational, profitable enterprise. We seek to provide facilities and patients alike with the latest in quality products and support services that will serve the health and wellness community. For more info, click here.
About MPSI:
MPS International (MPSI) is a consulting firm that provides security consultative services to business and individuals in the legal cannabis industry. When security officers are needed, MPSI contracts exclusively with MPS Security to provide uniformed security management and officers.
MPSI was created as a specialized division of MPS Security. With over 46 years of experience providing professional security services, MPS Security is uniquely qualified to bring high quality security management and security solutions to the new and growing cannabis industry. Our professional experience and qualifications are helping to legitimize the expanding cannabis industry by reducing crime and assisting legal businesses and individuals to operate in accordance with all federal, state and local laws and regulations. For more details visit www.Security-MPSI.com, email security@security-mpsi.com or call (866) 678-4408.
About Red Dice Holdings
Red Dice Holdings, LLC ("Red Dice") is the owner of the brand Dixie Botanicals. The company has one of the most recognizable cannabis and hemp brands in the world. For more information on Red Dice Holdings, click here.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER
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 Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such 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 be materially different from the statements made herein.
LEGAL DISCLOSURE
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). The Company does grow, sell and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.