{"id":7602,"date":"2015-11-26T15:02:05","date_gmt":"2015-11-26T15:02:05","guid":{"rendered":"\/?p=7602"},"modified":"2015-11-26T15:15:02","modified_gmt":"2015-11-26T15:15:02","slug":"medical-marijuana-inc-otcmktsmjna-reverses-after-weak-quarterly","status":"publish","type":"post","link":"\/articles\/medical-marijuana-inc-otcmktsmjna-reverses-after-weak-quarterly\/","title":{"rendered":"Medical Marijuana Inc (OTCMKTS:MJNA) Reverses After Weak Quarterly"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/92\/92110\/mjna_chart.png\" border=\"0\" width=\"450\" \/>Medical Marijuana Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>) was enjoying a slight revival in both price and volume but just as the ticker managed to push to a close over five cents per share on Monday, the company&#8217;s overdue quarterly went public. As a result, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> ended yesterday&#8217;s session 11.5% in the red, on 8.5 million shares traded.<\/p>\n<p>The report was curiously timed to hit right after <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>&#8216;s latest upbeat PR that pushed the price up over $0.05 per share. The market&#8217;s reaction to the filing is abundantly clear and perhaps quite justified, considering the numbers <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> has on its books. Here is the brief summary of the report&#8217;s balance sheet:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$246 thousand in checking\/savings<\/li>\n<li>$3.7 million in current liabilities<\/li>\n<li>$1.8 million in quarterly sales<\/li>\n<li>$7.3 million in quarterly net loss<\/li>\n<\/ul>\n<p>The numbers are a pretty sad sight, considering how they stack up against both Q3 2014 and <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a>&#8216;s previous reported quarter. Sales are down 17% on a QoQ basis and a whopping 46% down YoY. Perhaps the most unsettling part of the report is the fact that Kannaway, the entity that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MJNA\">MJNA<\/a> still lists as a $100 MILLION asset, contributed a measly $295 thousand in quarterly sales and generated operating loss of $532 thousand.<\/p>\n<p>HempMeds is the entity that contributed $1.3 of the $1.8 million in quarterly sales and it also logged operating loss of $220 thousand, with the biggest expense associated with its operations being &ldquo;Payroll and benefits&rdquo;.<\/p>\n<p>Another 46 millions shares were issued over Q3, primarily for the conversion of notes.<\/p>\n<p>The report paints a picture that is in pretty stark contrast with the ceaseless optimistic chirping that comes from the company&#8217;s PR feed. It will be interesting to see how and if the company&#8217;s sales change once export and sales to Brazil pick up more speed, but given the current state of things, expectations might best be kept in check.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medical Marijuana Inc (OTCMKTS:MJNA) was enjoying a slight revival in both price and volume but just as the ticker managed to push to a close over five cents per share on Monday, the company&#8217;s&#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-7602","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\/7602","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=7602"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7602\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}