Medical Marijuana, Inc. (PINK:MJNA) Contemplates the Pot Sector, Remains Steady

Yesterday Medical Marijuana, Inc. (PINK:MJNA) came out with a rather large press release, offering a detailed look at the marijuana sector both in the U.S. and abroad. To the company’s credit, the report contained a lot of serviceable reference information and very little in the way of forward-looking statements.

The release is structured a lot like a report for the legislative and commercial situation of the sector as a whole and the company’s positioning in it. It’s a lengthy read that spans legislative developments and degrees of legalization of the plant in various states, as well as on a federal level. The review lists fiscal projections for taxation income that can end up in state treasuries, outlining the huge growth forecasts made by the state of Washington.

The review examines the legality of marijuana and related products in other countries across the globe. One interesting detail is that MJNA state they expect to have hemp cultivation and production facilities on U.S. soil. This may be collateral indication for a degree of truth in the theory that was thrown about that MJNA intend to use CannaVEST, the entity which purchased their oil inventory and is paying with shares, to grow industrial hemp in the U.S. Of course this is all unconfirmed speculation and events may take a different turn due to a number of factors.

Another point of interest in the report is that MJNA is not yet certain whether the cultivar of the plant with a high CBD concentration which is used for oil extraction will grow well on U.S. soil.

The new product Dixie Elixirs revealed yesterday turned out to be two new flavors of their Dew Drops product line, despite some hype on discussion boards that the company was going to release a vape pen for use with cannabis oils.

Yesterday MJNA stock remained steady on significantly lower volume but still closed 2% down. MJNA shares are currently 1% up in early trading.