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| Market and Investors React Well to MJNA Report Up Over 30% in Past two Days |
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 Hot Stock to Watch |
Company: Medical Marijuana Inc. (OTCQB: MJNA)
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Last:
Price: 0.0847
Change (%): + 0.0133 (18.63)
Volume: 11,307,595 |
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Medical Marijuana Inc. Announces 2014 Annual Report and Shareholder Letter- Product Sales Increased 280+% Over Prior Year
Company's Product Innovations Expand to Global Consumer Base, Gaining Headline News While Cannabis Gains Public Approval and Support, Company Closes Its Largest Acquisition to Date
SAN DIEGO, May 14, 2015 (GLOBE NEWSWIRE) - Medical Marijuana, Inc. (OTC Pink:MJNA), a leading cannabis and industrial hemp industry innovator, sources, evaluates and acquires value-added companies with a focus on the medicinal cannabis and industrial hemp industries. Today, the Company announced the release of its 2014 annual report and shareholders letter. The Company continued to have exceptional growth over the year with product sales total of over 14,522,892 dollars compared to 5,059,924 dollars for the prior year, representing a sales increase of more than 280%.
Operating highlights for the year included:
- Overall consolidated product sales income of 14,522,892 dollars compared to 5,059,924 dollars for the year ending 2013
- Maintained a note-based line of credit with 6,000,000 dollars in available reserves
- Increased its merchant accounts monthly processing ability to over 20,000,000 dollars
- The Company, through its licensing agreement with CannaVest, has held seasoned securities valued at over 8,000,000 dollars (at close of 2014)
- Completed its expansion to a new sales, marketing and logistics center in order to accommodate continued and rapid growth
- Completed one of the largest acquisitions in industry history with the purchase of direct sales company Kannaway
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