Medical Marijuana Net Revenues Was $12.2 Million Up 11.25%

Medical Marijuana Inc (OTCMKTS:MJNA) released its financial results for the quarter ending September 30, 2020. It has also used the opportunity to give its most recent operational highlights. He has applauded the company for efforts that enabled it to generate overall net revenues amounting to about $12.2 million, representing an increase by a margin of about 11.25% from the previous quarter.

Top highlights

The results depict a positive adjusted EBITDA represented by a figure of about $175 555. The gross profit rose to hit $9.1 million. The company also reported a $4.1 million decrease in the new ordinary loss, representing the second quarter’s difference.

Major promotions include bringing onboard Robert A. Wells to take up its Chief Financial and Information Officer position. The other change was Michelle Sides’ promotion to take up its chief legal officer’s job.

Kannaway’s next move

One of the company’s subsidiaries, known as Kannaway, is on course to recruit CBD users who want to become a part of its ValidCare safety study. Kannaway happens to be the company’s Japanese division, and it is quite impressive to pronounce a remarkable performance. The subsidiary succeeded in hitting a notch it has never managed in its history. Another significant change is the company’s determination and plans to expand its production and warehouse facility. The move will see the business guru succeed on its quest to keep up with the fast-rising demand.

The Company’s CEO, Dr. Stuart Titus, clinched a Bronze Award award for becoming the top CEO of the year. That tells a lot about his visionary leadership and the determination to move the company to the pinnacle.

Leader’s perspectives

The CEO of Medical Marijuana, Dr. Stuart Titus, is impressed by the latest turn in events. This official mainly talks about the company’s sales and marketing segment, in which case the costs have gone down tremendously. Titus is also impressed with the skyrocketing sales witnessed in the trading period. According to the official who continues to express great optimism into the future, the positive adjusted EBITDA is a good thing.

Titus discloses he is somewhat impressed with the overall landscape, in which case more states continue to enter the cannabis sector. The official attributes the movement to recent legislation that tipped the scales for the stigma surrounding the consumption of cannabis products.

The CEO of Medical Marijuana, Blake Schroeder, is rather impressed by his company’s international expansion. This leader says they will continue channeling efforts and resources towards developing the best products to win customers worldwide. He encourages product consumers and shareholders to purchase CBD oil and some other wide-ranging products at Medical Marijuana, Inc.’s shop.