{"id":6828,"date":"2015-09-11T13:14:59","date_gmt":"2015-09-11T13:14:59","guid":{"rendered":"\/?p=6828"},"modified":"2015-09-11T13:39:32","modified_gmt":"2015-09-11T13:39:32","slug":"medical-marijuana-inc-otcmktsmjna-sails-below-four-cents","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-sails-below-four-cents\/","title":{"rendered":"Medical Marijuana Inc (OTCMKTS:MJNA) Sails Below Four Cents"},"content":{"rendered":"\n

It’s been a month-long struggle but Medical Marijuana Inc (OTCMKTS:MJNA<\/a>) finally gave in. The company’s stock price sank under the four-cent dividing line which served as a bottom of sorts during the last six weeks. Yesterday MJNA<\/a> closed 5% down on its heaviest volume for the past month, hitting $0.038 per share by the bell.<\/p>\n

The company put up more optimistic news only yesterday. An early morning PR announced that HempMeds signed a 12-month sales agreement for “over $2,500,000”. The other party under the contract is, somewhat predictably, not named. HempMeds’ partner is described as a “major new U.S. manufacturer”, whatever that means.<\/p>\n

Despite this upbeat announcement and the information that 2 months worth of product has already been sold and shipped by HempMeds, MJNA<\/a> barely peeled off from its previous close, churned heavy volume in the first hour of trading, then took a nasty slip ahead of the closing bell, to land at its newest 52-week low. If investors can’t get excited about a multi-million dollar deal, even if the company’s partner is a mysterious entity, confidence may be more shaken up that it initially seemed to be.<\/p>\n

MJNA<\/a> published its latest quarterly report just over a week ago. The short version of the balance sheet is as follows:<\/p>\n