{"id":648,"date":"2013-02-11T06:28:00","date_gmt":"2013-02-11T06:28:00","guid":{"rendered":"\/?p=648"},"modified":"2013-03-25T19:55:54","modified_gmt":"2013-03-25T19:55:54","slug":"medical-marijuana-inc-pinkmjna-releases-audited-q4-financials","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-pinkmjna-releases-audited-q4-financials\/","title":{"rendered":"Medical Marijuana, Inc. (PINK:MJNA) Releases Audited Q4 Financials"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/3MJNA_chart.png\" border=\"0\" alt=\"3MJNA_chart.png\" title=\"3MJNA_chart.png\" width=\"450\" height=\"201\" \/>Last Friday Medical Marijuana, Inc. (PINK:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) released its eagerly anticipated audited fourth quarter financial report. Accounting firm Anthony W. Imbimbo &amp; Associates was responsible for the auditing of the filing. <\/p>\n<p>The report contains, among other news, official numbers closely matching the projected figures <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> provided ahead of the filing. Here is a concise number crunch:<\/p>\n<ul>\n<li>$1.4 million in cash<\/li>\n<li>$84 thousand total liabilities<\/li>\n<li>$5.19 million in gross income<\/li>\n<li>$3.23 million in net income<\/li>\n<\/ul>\n<p>Net income came a notch below the announced $3.39 million and gross income is up from the previously announced $5.10. Still, the audited numbers are a close match and sit at very respectable values for a pink sheet company. The report also states that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> has completed the filing of the documents needed for uplisting approval, as the company seeks to move up to the OTC tier of the market &#8211; a significant milestone that if reached may improve <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>&#8216;s standing and investor confidence.<\/p>\n<p>The report contains information about the company&#8217;s activity in Europe as well. A European subsidiary of the company received approval for the sale of hemp oil and hemp medical products on the territory of Romania. Further points of interest filed under &#8216;Subsequent events&#8217; include the finalization and first installment under an acquisition deal of a biotech company that holds a patent for the therapeutic use of cannabinoids issued by the National Institute of Health. The filing also details the sale of $35 million worth of cannabinoid oil comprising its inventory and has received an initial payment installment of $4.5 million. It would have been nice if the &#8216;Subsequent events&#8217; section was padded out with dates of the events described and a quoted figure regarding the acquisition installment but investors would have to take it for what it is.<\/p>\n<p>There market responded to the optimistic news and <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> gapped up at the open, shortly peaking to $0.40 per share. The stock closed the day at $0.35 per share, or a little over 12% up. Volume livened up once again, at over 34 million shares traded, and the price movement looked a lot more stable over the session, with no huge spikes that could easily be erased.<\/p>\n<p>Other marijuana stocks didn&#8217;t quite manage to match <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>&#8216;s daily movement this time around, with Hemp, Inc. (PINK:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=HEMP\">HEMP<\/a>) and Cannabis Science, Inc. (PINK:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=CBIS\">CBIS<\/a>) closing down despite an early-session stir.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/email.thestockmarketwatch.com\/wf\/open?upn=vzZzBY9Y6niCD8OCkromjDCcSvKMEpqS40G2OupyPS6wy8KbBYGnlzVd3rvJlEpFqSYeE5BaDYlYUvUDQ9Eyr4Z-2Ftr2QhgVj5sMcfypFLaYunEngkkLhYOXGacAPio8Sa552fmCgIwQxdhN5YPqRyC7jI2Duz0IUX9apM90nuWw3B-2BXnECZkzFoI0ctYfo-2F1qBrWDoTiWSzZCzSoVdOg-2FQ-3D-3D\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" style=\"height:1px !important;width:1px !important;border-width:0 !important;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;padding-right:0 !important;padding-left:0 !important;\"\/> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Friday Medical Marijuana, Inc. (PINK:MJNA) released its eagerly anticipated audited fourth quarter financial report. Accounting firm Anthony W. Imbimbo &amp; Associates was responsible for the auditing of the filing. The report contains, among&#46;&#46;&#46;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[229,228,8],"class_list":["post-648","post","type-post","status-publish","format-standard","hentry","category-news","tag-cbis","tag-hemp","tag-mjna"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=648"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/648\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}