{"id":6932,"date":"2015-09-23T13:11:46","date_gmt":"2015-09-23T13:11:46","guid":{"rendered":"\/?p=6932"},"modified":"2015-09-23T13:39:31","modified_gmt":"2015-09-23T13:39:31","slug":"medical-marijuana-inc-otcmktsmjna-slides-further","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-slides-further\/","title":{"rendered":"Medical Marijuana Inc (OTCMKTS:MJNA) Slides Further"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91416\/mjna_chart.png\" border=\"0\" width=\"450\" \/>After screeching to a number of new 52-week lows, on Monday Medical Marijuana Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) dropped to yet another one. The stock closed 5% down and stopped at $0.033 per share by the bell.<\/p>\n<p>There have been no news releases following Wednesday&#8217;s announcement of the launch of Dixie Stix and <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> has logged four consecutive red sessions since this press release. September has been nothing but great news coming from <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>, including a $2.5 million sales deal and new product launches. However, the market is obviously not buying into any of this excitement.<\/p>\n<p>To an extent, this is understandable, considering the last quarterly report <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> last put up. Here is a brief rundown of the balance sheet essentials:<\/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 quarterly sales<\/li>\n<li>$5.6 million in quarterly net loss<\/li>\n<\/ul>\n<p>All of this amounts to sales shrinking QoQ from the $3.5 million in Q1, and net loss growing tremendously from less than $1 million in the previous quarter. Those results are even more disconcerting considering the KannaWay acquisition &ndash; a supposed network marketing giant that should be generating hefty revenues. KannaWay did, after all, get recorded as a $100,000,000 asset in the very same balance sheet.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> was supposed to have strong support at the $0.04 mark, or so traders on discussion boards speculated. However, the price has been unable to reach this level again after it slipped under it in early September. It remains to be seen whether <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> can come up with an announcement grand enough to help it recover some ground. The company&#8217;s share price is currently over 80% down from its 52-week high at $0.21 per share.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After screeching to a number of new 52-week lows, on Monday Medical Marijuana Inc (OTCMKTS:MJNA) dropped to yet another one. The stock closed 5% down and stopped at $0.033 per share by the bell.&#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-6932","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\/6932","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=6932"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6932\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}