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."
About Medical Marijuana, Inc.
We are a company of firsts®. 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 details on Medical Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com.
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Shareholders are also encouraged to visit the Medical Marijuana, Inc. Shop for discounted products.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
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.
The statements in this press release have not been evaluated by the Food and Drug Administration (FDA) and are not intended to diagnose, treat or cure any disease. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances Act. The Company does sell and distribute hemp-based products.
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SOURCE Medical Marijuana, Inc.