Axim Biotechnologies : Medical Marijuana ( OTC PINK : MJNA ) Reports Strong Financial Results in 2016

Axim Biotechnologies : Medical Marijuana ( OTC PINK : MJNA ) Reports Strong Financial Results in 2016
Axim Biotechnologies : Medical Marijuana ( OTC PINK : MJNA ) Reports Strong Financial Results in 2016

SEATTLE, WA--(Marketwired - Jun 6, 2017) - CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing Medical Marijuana, Inc.'s (OTC PINK: MJNA) fourth quarter and full year 2016 driven by its investments across several areas of the market.

Strong Investment Portfolio

Medical Marijuana, Inc. reported comprehensive income of $197,269,187 in 2016, which consisted primarily of unrealized gains on available-for-sale securities in its investment portfolio. Most of the gains came from its investment in AXIM Biotechnologies Inc. (OTCBB: AXIM) where it holds 22,669,100 shares with a market value of $231,904,893, as of June 1, 2017, when shares were trading at approximately $10.23 per share.

AXIM Biotech's stock price has dramatically increased in value thanks to its expanding patent portfolio and near-term clinical trials. The company's chewing gum-based cannabinoid delivery system offers superior bioavailability and extended release compared to capsules or other delivery systems. Management has already started clinical trials targeting irritable bowel syndrome and is gearing up for additional clinical trials targeting multiple sclerosis.

The company's other investments include a 16.7% stake in Kannalife Sciences, which has a licensing agreement with the National Institutes of Health ("NIH") for hepatic encephalopathy ("HE") and chronic traumatic encephalopathy ("CTE"). Kannalife recently patented a new CBD-like compound that's 50x more potent and 400x safer than the original cannabinoid and secured the first-ever DEA permit to import CBD to further their clinical studies.

Market Traction in Operations

Medical Marijuana, Inc. reported revenue that reached $8,003,943 from its HempMeds and Kannaway subsidiaries. With the U.S. cannabis industry expected to grow from $6.7 billion last year to over $50 billion by 2026, the increase comes as consumers are increasingly embracing cannabinoids to help them live better and healthier lives. At the same time, researchers continue to prove that CBD and other cannabinoids have legitimate medical uses.

HempMeds, a leading consumer brand of CBD hemp oil products, accounted for roughly three-quarters of the company's revenue last year. The subsidiary has already secured import permits for its RSHO and RSHO-X products from Brazil, Mexico, and Paraguay for a growing list of medical indications. Its U.S. wholesale business also increased by more than 50% last year. Researchers have been using the hemp oil products to support clinical studies as well.

The remaining one-quarter of revenue came from its Kannaway business, which is a lifestyle marketing brand that has been rapidly gaining traction. The subsidiary's revenue increased 10x year over year to over $2 million thanks to an expanding independent distributor base that amounts to more than 5,000 members now. The combination of more distributors and a fresh new look helped the company increase its number of customers by 5x over the year.

Looking Ahead

Medical Marijuana, Inc. (OTC PINK: MJNA) represents a compelling investment opportunity within the burgeoning cannabis industry. With its $231,904,893 investment in AXIM Biotech, the market is valuing the rest of the company at about $48 million -- or less than 6x sales. This doesn't even take into account Medical Marijuana's other assets. The company's in-house businesses continue to gain traction while its investments have the potential to create significant additional value moving into 2017 and beyond.

Medical Marijuana, Inc. reported total assets of nearly $400 million ($393,553,000) on its balance sheet, while its market capitalization stands at just $280,019,386, as of June 5, 2017.

"As the No. 7 investor in Medical Marijuana, Inc., this is exactly what this Company of Firsts set out to do and I'm proud to say we are on course for a historic 2017," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "From groundbreaking research conducted on the Company's products in Latin America, to massive market cap growth by the Company's major investments and the development of new proprietary molecules by portfolio companies, shareholders have a lot to be excited about."