Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the company and its subsidiaries Kannaway and HempMeds have booked their largest-ever sales revenue quarter in their history in Q1 2018, as well as reached major milestones in its business operations.
Medical Marijuana, Inc. Q1 2018 revenues exceeded $10.5 million, an increase of more than 190% over Q1 2017.
Total gross profits for Q1 2018 increased more than 30% as compared to Q1 2017.
Wholly-owned subsidiary Kannaway saw the most growth from Q1 2017 to Q1 2018, with Q1 2018 revenues increasing more than 325% to $7.5 million.
The company experienced many accomplishments in Q1 including launching its newest subsidiary Phyto Animal Health, which produces and distributes cannabidiol (CBD) and hemp products for companion animals; achieving registration of its Real Scientific Hemp Oil-Xâ„¢ (RSHO-Xâ„¢) and RSHOâ„¢-Blue Label products as medicines by Paraguay’snational health regulation organization (DirecciÃ³n Nacional de Vigilancia Sanitaria); and being named a “Top Three Hemp Producer of 2018.”
“In Q1 2018, we had the best revenue quarter in the history of our Company,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus.
“We’re excited that, with the help of our investors, spokespeople and customers, we’ve experienced tremendous growth and the company is positioned well for continued explosive expansion.”
Medical Marijuana, Inc. also garnered positive news coverage in several national and international publications including TMZ Entertainment, Reuters, FOXNews.com, CBS’ The Doctors, The Washington Post, The Street, POPSUGAR, Epicurious and more.
“This achievement showcases that Medical Marijuana, Inc. and its subsidiaries are flourishing in the fast-growing cannabis industry and will continue to be leaders in the CBD and hemp product markets,” said Medical Marijuana, Inc. COO Blake Schroeder. “Kannaway is one example of how the company’s operations are growing internationally and helping the company increase its consumer base rapidly.”
Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.
For more information please visit www.kannaway.com
Get more information, facts and figures about Kannaway, click here for the Kannaway overview.