SAN DIEGO, Dec. 12, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), a leading hemp industry innovator, is pleased to update its shareholders on the status of its portfolio company, PhytoSPHERE Systems, LLC and product applications for it's 2013 harvest. PhytoSPHERE is the world's leading cannabinoid based biotechnology company. Its unique self-contained hemp cultivation and hemp oil processing facilities produce superior raw ingredients for neutraceutical markets.
As a result, this season's harvest of hemp oil has, for the first time, put the Company in a position to develop broadly applicable raw ingredients. In addition to providing these raw ingredients to its subsidiaries for their products, the company is preparing to distribute raw ingredients to other manufacturers for a vast array of consumer product applications.
The raw CBD ingredients in our hemp oil can be formulated with or added to existing and newly developed products in foods, dietary supplements and cosmetics. The Company is working with formulators to integrate the hemp oil with a variety of generally accepted beneficial dietary ingredients to develop uniquely effective over the counter products. These products are expected to be highly sought after by health conscious consumers.
The CBD market is presently in its infancy with exciting possibilities ahead. The "marijuana community" has recently embraced CBD as the next great thing in patient health and wellness—it is only a matter of time before the general populace discovers similar benefits. "We are very proud about the many innovative products using our hemp oil ingredients, that will be delivered to health conscious consumers in the coming year," says Ted Caligiuri, President/CEO of Medical Marijuana, Inc.
Unique Growing Process
The company cultivates thousands of acres of industrial hemp in special microclimates located in various countries abroad. MJNA plans to increase the amount of acreage under cultivation, as demand for its specialty hemp oil products continues to grow for existing and emerging products.
PhytoSPHERE manages the entire growth and manufacturing operation starting from the initial planting of specialty cultivars through the monitoring of the growth cycle to harvesting the crops and producing the end products. In these unique environments, PhytoSPHERE raises hemp cultivars with high levels of cannabinoid (CBD), which are then processed into raw hemp oil using the company's proprietary processes.
PhytoSPHERE's extremely efficient growth, packaging and extraction technologies provide compact, safe, pollutant-free facilities that allow for the following:
- Completely controlled cultivation environment
- Greatly increased plant yields with strong, compact, multi-directional growth that significantly exceed traditional methods
- Reduced per-unit costs compared to traditional methods by eliminating the use of pesticides, fungicides and herbicides
- Production of Pharmaceutical grade extracts
- Establishment of antibacterial environments and packaging systems
- Controlled post-production processing with proprietary standardization methods
History and Current Market
Hemp extracts have been used for medicinal purposes dating back to the ancient Chinese Pharmacopoeia, estimated at year 5,000 BC. Cannabis and hemp products were considered medicines and readily listed in the US Pharmacopoeia from 1850 through the early 1940's. Marijuana was banned from being possessed in the United States in 1937.
When derived from hemp stalk or seed, CBD is considered a food nutrient or dietary supplement, delivering the benefits of cannabinoids without the psychoactive/euphoric effects of THC. There are over 400 cannabinoids found in marijuana/hemp. Our present over-the-counter products contain industrial hemp whole plant extract from seed and stalk and from isolated strains or "cultivars" of hemp that provide significant quantities and concentrations of CBD.
Recent scientific research has shown that humans (and all mammals) have an affinity for these cannabinoids. Mammalian cells contain two known receptor sites on cell membranes for various cannabinoid compounds. Humans can supplement any potential deficiencies in their endo-cannabinoid systems with plant-derived phyto-cannabinoids, such as our CBD products.
CBDs have been shown to carry huge medical benefits for a variety of physical and mental maladies/illnesses, including musculo-skeletal pain relief, assisting with multiple sclerosis muscle spasticity management, diabetes, schizophrenia and even metastatic cancer. For more information on the health benefits of CBD, go here: http://www.medicalmarijuanainc.com/index.php/research
The remarkable health benefits of CBDs are currently delivered via tinctures, gums, topical applications/balms and oral drops through products developed through our subsidiary companies. These products provide a strong platform for the Company to expand its presence through further development and tap the vast market potential that currently exists.
PhytoSPHERE Systems has documented over 200 industrial hemp varieties and has identified specific ones with the highest levels of CBD for further development and production. Using tissue cultures, PhystoSPHERE produces plants that have a higher likelihood of success because of their genetic purity and identical attributes. This allows for a consistently high quality plant, which in turn delivers a consistent end product.
The combination of superior technology, proprietary and patented processes, genetically consistent products and tissue culture-based plants will give us the ability to produce the cleanest and highest quality ingredients for consumer/food grade products.
Significantly, however, it will also position us to provide superior pharmaceutical grade extracts and compounds. While we are currently poised to expand in the CBD market, we realize the full potential in expanding our portfolio beyond hemp-based products. As legislations continue to change at the state and national levels—not to mention internationally—we look forward to vastly increasing our offerings with THC based products. In Colorado alone, the legal medical marijuana market is presently a $46 million annual industry. Washington state's Office of Financial Management recently mentioned their state-wide "fully functioning marijuana market" could result in $1.021 billion in gross in-state sales, given both medical and recreational usage. Further, the Office stated that the national market, so extrapolated, could result in a US marijuana marketplace of $46.42 billion. Link: http://mmjbusinessdaily.com/2012/11/26/potential-us-marijuana-market-estimated-at-nearly-50-billion/. This estimation is considering just actual marijuana sales, not peripheral industries and those additional revenues. We look forward to embracing this potential.
Medical Marijuana, Inc., with its subsidiary PhytoSPHERE systems, is proud to be at the forefront of this market and to offer a streamlined, all-encompassing company in which its shareholders may participate in our multiple streams of future growth.
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.
Medical Marijuana Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.
For more information, please visit the company's website: www.MedicalMarijuanaInc.com
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.
Investor Relations Contact:
Stuart T. Smith
SOURCE Medical Marijuana, Inc.