{"id":6766,"date":"2015-09-04T14:14:54","date_gmt":"2015-09-04T14:14:54","guid":{"rendered":"\/?p=6766"},"modified":"2015-09-04T14:39:39","modified_gmt":"2015-09-04T14:39:39","slug":"medical-marijuana-inc-otcmktsmjna-at-new-52-week-low-after-quarterly","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-at-new-52-week-low-after-quarterly\/","title":{"rendered":"Medical Marijuana Inc (OTCMKTS:MJNA) at New 52-Week Low After Quarterly"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91237\/mjna_chart.png\" border=\"0\" width=\"450\" \/>Medical Marijuana Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) came through with its overdue report on Tuesday. After the filing the stock logged its lowest close for the past 52 weeks in yesterday&#8217;s session, on slightly faded volume.<\/p>\n<p>The company&#8217;s latest report obviously did little to excite investors and frankly, you can&#8217;t really blame them for keeping their poker face on. Here is a brief rundown of the balance sheet figures from the filing:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$475 thousand in checking\/savings<\/li>\n<li>$4.4 million in current liabilities<\/li>\n<li>$2.2 million in Q2 revenues<\/li>\n<li>$5.6 million in Q2 net loss<\/li>\n<\/ul>\n<p>The company&#8217;s revenues are down QoQ from the $3.5 million in sales for the quarter ended March. Net loss has gaped from a modest $879 thousand in Q1 to over $5 million. There is very little to like about this turn of events, especially considering the fact that Kannaway, a business <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> recorded as a $100,000,000 asset is on board and generating sales for the quarter.<\/p>\n<p>There is also the shrink in <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>&#8216;s equity investments which saw their value decline from $30 million in March, down to $18 million in June, which is recorded as &#8216;unrealized comprehensive loss&#8217;.<\/p>\n<p>The chart makes it plain to see that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> successfully managed to find its footing at or near the $0.04 mark. The question is whether it can pull this off again after the shaky balance sheet of the quarterly. If the price pierces below $0.04 and lingers there, it&#8217;s anyone&#8217;s guess what might happen from that point on.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medical Marijuana Inc (OTCMKTS:MJNA) came through with its overdue report on Tuesday. After the filing the stock logged its lowest close for the past 52 weeks in yesterday&#8217;s session, on slightly faded volume. The&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[8],"class_list":["post-6766","post","type-post","status-publish","format-standard","hentry","category-news","tag-mjna"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6766","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6766"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6766\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}