{"id":5683,"date":"2015-05-20T12:11:20","date_gmt":"2015-05-20T12:11:20","guid":{"rendered":"\/?p=5683"},"modified":"2015-05-20T12:39:41","modified_gmt":"2015-05-20T12:39:41","slug":"medical-marijuana-inc-otcmktsmjna-soars-on-news","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-soars-on-news\/","title":{"rendered":"Medical Marijuana, Inc. (OTCMKTS:MJNA) Soars on News"},"content":{"rendered":"\n

Yesterday’s session proved to be a great ride for Medical Marijuana, Inc. (OTCMKTS:MJNA<\/a>) shareholders. The company’s share price rose by a whopping 25%, driven by a new press release. After shifting its biggest daily share volume for the past year, MJNA<\/a> stopped at $0.10 flat on 45 million shares traded.<\/p>\n

The news that caused this stir dropped yesterday morning. MJNA<\/a> announced that its Real Scientific Hemp Oil (RSHO) has been approved as an import, prescription-only medication by the federal Brazilian government. The PR states that HempMeds Brasil will be handling the import and drug applications. HempMeds Brasil is called a “corporate affiliated company” of MJNA<\/a> and its “exclusive distirbutor” of RSHO.<\/p>\n

Curiously, this is the first time HempMeds Brasil’s name has come up. Previously, RSHO was distrubuted and marketed by HempMeds PX, a MJNA<\/a> “corporate portfolio company” and its “exclusive master distributor.” The name of the Brazilian branch of HempMeds is nowhere to be found in MJNA<\/a>‘s latest annual report. However, the PR states the company has been working “for over a year” on getting its drug application and submission and expects to finish that process by the end of 2015.<\/p>\n

MJNA<\/a> put this news up hot on the heels of its month-late annual report which finally came through. The results were pretty middle-of-the-road, with a sizable increase of annual net sales but also with a bottom line that was $4.4 million in the red. Here is the brief summary of the figures reported as of December 2014:<\/p>\n