Medical Marijuana Inc. (OTC: MJNA) Announces Wellness Managed Services Signs an Additional Management Contract, Increases Annual Revenue by $1,100,000
SAN DIEGO, Feb. 7, 2012 /PRNewswire/ -- Medical Marijuana Inc. (OTC: MJNA) is pleased to announce its wholly owned subsidiary Wellness Managed Services has signed an additional management contract which is expected to increase annual revenue by $1,100,000. The company's 4th quarter revenue increased in excess of 116% over the prior quarter from $198,812.60 to $430,139.36. Since the close of the first quarter 2011, to the close of the fourth quarter 2011, company revenue had increased an accumulative 3941%, and quarter over quarter since the first quarter 2011 have had a compounded quarterly increase of 101%. With the execution of this additional management contract and its accompanying $1,100,000 in additional revenue this will keep that compounded quarterly increase on track. Wellness Managed Services, which engages in the management and development of Health and Wellness facilities and hydroponic stores throughout North America, has actively been acquiring and developing its services since the end of the 4th quarter 2011 and is in negotiations for several additional facilities in California, Colorado and Arizona.
"The company is off to a great start. It has taken us eight months to get our feet grounded with new management in place. We have had to overcome the challenges of integrating our team, identifying and solidifying prior business plans, along with its development as we are now working through prior management arrangements. We are now just starting to receive the benefits from all those difficult months' worth of work as we are pleased with our current growth and the overall position of the company. I would like to thank the shareholders for their continued support and our team for their exceptional performance and dedication, we look forward to a strong 2012." Stated Michael Llamas President, Medical Marijuana Inc.
ABOUT MEDICAL MARIJUANA INC.
Our mission is to be the world's premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present, and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc. recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.
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.
Contact Information:
Corporate Contact:
Medical Marijuana Inc.
2665 Ariane Drive Suite 207
San Diego, CA 92117
Toll Free: 888-OTC-MJNA (888-682-6562)
Facsimile: 888-651-0349
www.medicalmarijuanainc.com
www.facebook.com/mjnainc
Investor Relations Contact:
Equiti-Trend Advisors, LLC
Carmel Valley Center II
11995 El Camino Real, Suite 301
San Diego, CA 92130
(800) 953-3350
[email protected]
www.equititrend.com
SOURCE Medical Marijuana Inc.
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