Medical Marijuana Inc (MJNA) Stock Surges On Q4, Full-Year Earnings Report Benzinga 3 hrs ago
Cannabis company Medical Marijuana, Inc. (OTC: MJNA) posted Monday fourth-quarter and full-year 2020 earnings with yearly net revenue of $46.9 million, compared to $75.6 million in the previous year.
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Gross Margins jumped from 76% in 2019 to 80% in 2020.
Its GAAP sales and marketing expense decreased as a percentage of sales from 55% in 2019 to 48% in 2020.
At the end of the year, the company held cash of $5.7 million.
Business Highlights: The San Diego, California-based company recently finalized a clinical study using Real Scientific Hemp Oil-X CBD Oil and released results in the EX Neurology journal; Its subsidiary Kannaway took part in the 2020 Validcare clinical study on CBD liver toxicity; Kannaway launched in the U.S. cannabinol market with two new CBN isolate product in the U.S. and reached the European cannabigerol market with its Kannaway Premium CBG.
Digital Venture Partners has tapped Chirali Patel to serve as managing partner and chief compliance officer.
Patel is an attorney bringing “unique public and private insight into the world of cannabis.”
Prior to joining DVP, she worked for the County of Passaic, the County of Bergen, and the City of Hoboken as assistant county counsel and municipal prosecutor.
The company said it looks forward to this partnership, and hopes the coming years will help the make a much-needed impact in the cannabis industry.
New Frontier Data Names New CEO, Executive Chairman
New Frontier Data has named Gary Allen, previously its COO, to serve as CEO, replacing Giadha A. DeCarcer, who will assume the executive chairman role after serving as CEO for seven years.
Mexico s Imminent Marijuana Legalization Law Leaves US Lawmakers Holding the Joint blacklistednews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from blacklistednews.com Daily Mail and Mail on Sunday newspapers.
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MEXICO CITY For years now, dozens of pro-marijuana activists have gathered in front of Mexico’s Congressional building on Reforma Avenue in the largest city in the Americas to spark up and tacitly remind lawmakers of a landmark 2012 ruling by the country’s Supreme Court, that declared a ban on recreational marijuana to be unconstitutional.
Just shy of a decade later, the precedent created by that historic decision is on the brink of a full flowering as the lower house of the Mexican Congress approved the federal regulation of cannabis by a 316 to 129 vote on Wednesday. The legislation is expected to pass easily in the Senate and be signed into law by President Andres Manuel Lopez Obrador in short order.