medical marijuana Archives - Green Market Report

StaffAugust 18, 2022

4min1850

Medical Marijuana Inc. (OTC: MJNA) reported $7.8 million in net revenue in the second quarter of 2022. This fell from last year’s revenue of $9.6 million for the same time period in 2021. The company also reported a net loss of $11 million versus last year’s net income of $7 million.

The company said in its filing that it took a net loss of $7,106,771 related to Axim Biotechnologies, Inc (OTCB: AXIM) and a net loss of $369,439 related to Neuropathix, Inc. (OTCB: NPTX). The company owns 17% of Axim stock.

Medical Marijuana also burned through $2.2 million in cash in the quarter leaving the company with a balance of $2.7 million versus last year’s balance at the end of the second quarter of $6.5 million. The company has total liabilities of $9.9 million.

Medical Marijuana CEO Blake Schroeder said, “We have first mover advantage in nearly every market where the company operates with potential for continued international expansion well into the future. Beyond international expansion efforts, we continued our efforts in the second quarter in the pharmaceutical space as we believe this segment to hold tremendous future upside value for our company. In Brazil, we believe we will have products on pharmacy shelves by late this year or early 2023. Additionally, researchers at our investment company, Neuropathix, are utilizing grant money received from the National Institutes of Health to further their clinical research on its proprietary compound aimed at treating neuropathic pain and inflammation.”

International Push

Last month, Medical Marijuana announced its pharmaceutical subsidiary, HM Pharma, had submitted a product dossier for its cannabidiol (CBD) products after receiving Sanitary Authorization from ANVISA, Brazil’s Health Regulatory Agency.

Also in July, Medical Marijuana announced that in June its subsidiary Kannaway achieved its largest revenue month in the company’s history for its Japan division. Kannaway established operations in Japan in 2019 and the company has experienced rapid growth in 2020, 2021, and to date in 2022. Japan’s CBD market is projected to become the second-largest CBD market in Asia, growing to about $1.9 billion USD by 2024.“This year has been phenomenal for Kannaway in Japan. The company has increased sales every month in 2022 so far and we look forward to continuing this trend,” said Schroeder. “Reporting indicates that the Japanese government is considering easing some of its regulations on how CBD is sold in the country, and this would allow for increased opportunity for Kannaway in the marketplace.”


Noemi GonzalesAugust 28, 2020
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6min880

Medical Marijuana: A Clinical Handbook” First Edition

by Samoon Ahmad M.D. and Kevin P. Hill MD MHS

We are moving quickly into uncharted territory in terms of how the medical community is finally able to dive further into cannabis research without potential legal repercussions so it is a huge advantage to see experts such as authors Samoon Ahmad M.D. and Kevin P. Hill M.D MHS share their level of knowledge with the rest of us and with other medical professionals that might need guidance regarding cannabis use in their own patients.

Today we are taking a look at “Medical Marijuana: A Clinical Handbook” to see for ourselves just what kind of solid information the expert authors have brought to the table for us.

This should be a very fascinating one to peer into so let’s get started!

-Topic Focus-

This book was written by doctors with years of experience when it comes to both dealing with patients and studying cannabis effects with other practicing physicians in mind so that they have access to the latest medical information regarding cannabis and how it might apply to various treatments with patients.

Written like a guide and easy to navigate, this book expertly covers topics ranging from the pharmacological profiles of CBD and THC, the cultural and medical implementations of cannabis, and so much more.

The goals here is to further empower and arm physicians, doctors, nurses, and other medical professionals to understand how cannabis can potenianlly impact medical treatment and to further increase the quality of care and life for more patients.

About the Author

We have two authors to take a look at with this one, both with impressive medical expertise.

Dr. Samoon Ahmad has been a practicing physician for over 25 years and brings that level of expertise to this book in fine form. He currently serves as Unit Chief of Bellevue Medical Center’s Inpatient Unit and is also a Professor in the Department of Psychiatry at NYU Grossman School of Medicine.

Kevin P. Hill, M.D., M.H.S. has authored many papers on the effects of cannabidiol as an addiction psychiatrist and Director of the Division of Addiction Psychiatry at Beth Israel Deaconess Medical Center and Associate Professor of Psychiatry at Harvard Medical School and has engaged in many speaking events on the topic of cannabis usage, law, medical information, and more.

With their powers combined these two medical experts have put together a very useful tool for medical professionals to leverage across the world.

-Reading Experience-

“Medical Marijuana: A Clinical Handbook” is written as a reference guide and certainly reads like one. The flow that one might desire from a less serious book is not present but the compelling level of information presented in the book keeps it fascinating even for those of us who are not medical professionals.

It seems like a powerful asset for any medical professional to add to their arsenal of knowledge as much of the scientific advancement regarding cannabis has been suppressed up until recently.

This book feels like a treasure trove of solid information that is both enlightening and fascinating to read.

-Summary-

“Medical Marijuana: A Clinical Handbook” is a legitimate guide to navigating the relationship of medical treatment and health with that of cannabis consumption and it’s various potential applications.

This comprehensive medical guide will surely prove to be quite an asset to the medical community and to those of us who are willing to study and grow our own level of knowledge to live healthier lives harmoniously with cannabis.

The breakdowns of topics such as the endocannabinoid system, therapeutic applications, and so much more are truly enlightening topics to explore!

If you are interested in checking out the book for yourself then here you go:

https://www.amazon.com/Medical-Marijuana-Samoon-Ahmad-M-D/dp/197514189X/ref=sr_1_1?crid=137OB3XVOJWGO&dchild=1&keywords=medical+marijuana+a+clinical+handbook&qid=1598366200&sprefix=medical+marijuana+cli%2Caps%2C500&sr=8-1

 

 


StaffMay 13, 2020
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9min2682

Ever since recreational cannabis has stolen the stage, people tend to forget that cannabis is one of the oldest and most trusted medicines on the planet.

The medicinal properties within the plant are responsible for managing the symptoms associated in patients suffering from Epilepsy, Autism, Crohn’s Disease, Cancer, PTSD, and Chronic Pain to name just a few.

These brands have developed some of the best practices and formulations in the industry to treat a myriad of ailments with patents pending across the globe.

Our team decided to break down a list of the most respected medical brands and products within the cannabis industry globally.

Here they are:

 

1.) Charlotte’s Web:

More than just CBD: CBD plus naturally-occurring phytocannabinoids, terpenes, flavonoids and more in every CBD oil serving. The team from Charlotte’s Web uses limited, select ingredients to ensure you have the absolute best hemp extract possible. Their CBD oils include Charlotte’s Web premium hemp extract, carrier oil, and flavor. That’s it. Their products are U.S. Hemp Authority Certified. Charlotte’s Web CBD oils are whole-plant extracts that include a variety of of beneficial compounds, including phytocannabinoids, terpenes, flavonoids, and essential fatty acids.

 

2.) Aunt Zelda’s:

Aunt Zelda’s is a pioneering, data-driven developer of cannabis-based plant medicines. Our products are the result of years of research and development by founders, Mara Gordon and Stewart Smith, in consultation with knowledgeable physicians and world-renowned researchers.

Utilizing proven time-tested extraction processes improved with modern technology, Aunt Zelda’s offers medicines of precisely measured potency and purity that empower patients to dose to the milligram and unlock the therapeutic potential of cannabis.

If you prefer to obtain lab tested products created for specific ailments, Aunt Zelda’s will help you get there!

Aunt Zelda’s mission is to alleviate patient suffering through medical cannabis.  We help you, our patients, live fulfilling, healthy lives.

They provide unmatched expertise in the correct use of medical cannabis matched to disease-specific products with the highest purity in California.

Their goal is to create a positive and supportive community for medical cannabis users. They aspire to be your trusted source of cannabis resources and its safe, effective and responsible use

 

3.) HOPE Grows for Autism:

Formulation by: Zelira Therapeutics

HOPE is a Proprietary formulation specifically to address patient symptoms associated with Autism Spectrum Disorder.  The HOPE® Franchise has received support from organizations such as HOPE Grows for Autism, a leading autism advocacy group based in Pennsylvania. It has been the top performing product within the state and will soon be available for patients in Louisiana and throughout the US and Australia. 

In a company press release in December 2019, Zelira Therapeutics leadership said, “Our company will have the ability to distribute the HOPE® portfolio along with our additional products through licensing agreements with multi-state and international operators…”

HOPE 1 and HOPE 2 are part of a growing family of proprietary medical marijuana formulations. HOPE™ is created by extracting, isolating, and then re-assembling the medicinal compounds from the marijuana plant to achieve specific, targeted effects. HOPE™ was formulated with autism in mind and has quickly proved to be beneficial to other chronic conditions such as chronic pain, anxiety, neuropathy and others. HOPE™ has since become its manufacturer’s best-selling tincture.

 WHAT FORMS OF HOPE ARE AVAILABLE?

Available as a tincture, blended in 100% olive oil.

WHAT MAKES UP HOPE?

THC + CBD + Terpenes

Found in the trichomes of the plant, terpenes are plant oils with unique aromas and distinctive​ flavors (pine, citrus, mint) and are known to play​ a key role on the overall effects of each strain. ​ Terpenes also play a key role in differentiating​ the flavor and scent of marijuana. Some terpenes​ might promote relaxation, while others energy or​ focus.

 

4.) Ilera Holistic Healthcare:

ALAFIA — which means ‘inner peace’ in the Nigerian “Yoruba” language — is scientifically formulated, lab tested and pesticide free. Currently on the market are two formulated PURE CBD tinctures: Isolate CBD with 500mg and 1000mg  and Full Spectrum CBD with 500mg and 1000mg.  This product is Additional CBD products will be released at dispensaries in the state of Louisiana only.

“Our vision has always been patient access and affordability,” said Chanda Macias, chief executive officer of Ilera Holistic Healthcare. “It was imperative for us to bring high-quality products that support health and wellness.  Patients now have the ability to purchase ALAFIA over the counter without a prescription anywhere it is available.”  Dr. Chanda Macias said back in January 2020

5.) Haleigh’s Hope:

Extra strength has double the concentration than the regular strength, allowing the consumer to take less oil but still get the same desired therapeutic effect as the regular strength. Extra Strength products are recommended for people over 100 lbs.

This organically grown, whole plant extract contains a broad spectrum of naturally occurring plant based compounds that are clinically proven to provide a powerful combination of antioxidants and neuroprotectants. Haleigh’s Hope® was created from a proprietary genetic plant strain that was carefully bred and cultivated over seven years to achieve a precise combination of clinically proven, therapeutic plant compounds..

Haleigh’s Hope® grows, extracts, produces, packages and ships 100% of our product from our facilities in Colorado. Because we have exclusive control over our products from seed to sale, we ensure the highest levels of quality and consistency in the industry. Every batch of our product is lab tested for safety and quality.

Safflower is a cold pressed seed oil that is non-GMO and organic, and does not need to be shaken.

Exclusively grown and manufactured in Colorado, USA.


StaffApril 29, 2020
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4min2304

Medical Marijuana, Inc. (OTC: MJNA) reported financial results for the quarter and year ending Dec. 31, 2019, with $75.6 million in gross revenue in 2019, a 26.3% increase year-over-year when compared to 2018’s gross revenue of $59.8 million. The net ordinary income for 2019 was $3.3 million versus 2018’s net loss of $8 million. The company reported a positive adjusted EBITDA of $139 thousand in 2019 as compared to a loss of $1.2 million in 2018. 

The GAAP net income for the fourth quarter increased to $84,404 versus 2018’s net loss of $202,630.

“In 2019, Medical Marijuana, Inc. and its subsidiaries continued to execute on our strategic growth and fiscal responsibility action plan that rendered our best results yet and I could not be more excited to share them with shareholders,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We were able to not only generate increased revenues but focus on our bottom line by making strategic adjustments to expenditures.”

“In addition to our success in the U.S., our international operations have continued to flourish in EuropeLatin America and we are excited for our development in Asia,” said Medical Marijuana, Inc. COO Blake Schroeder. “We hope that these efforts will continue to build shareholder value and help bring our industry-leading products to broader audiences worldwide.”

In 2019, Medical Marijuana, Inc. listed the following highlights:

  • The Company was recognized as a top-five hemp-derived CBD company by Yahoo Finance
  • Subsidiaries HempMeds® and Kannaway® became the first companies to have their CBD products listed in the Prescribers’ Digital Reference
  • Subsidiaries HempMeds®, Dixie Botanicals® and Kannaway® received the U.S. Hemp Authority Certification Seal
  • Dr. Titus was invited to speak at the FDA Hearing on Cannabis and CBD Products in May 2019
  • Brooke Beers was promoted to Chief Financial Officer

StaffMarch 17, 2020
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7min3932

Editors Note: This is a guest post by Tiffani Wroe

Though the numbers increase every year, not all states have legalized recreational marijuana — most merely permit the medicinal use of marijuana to treat various physical and mental ailments. Yet, even in states where recreational weed is legal, plenty of residents pursue medical marijuana permits, despite the fact that they can obtain recreational weed without the hassle of doctors’ appointments and prescriptions. 

There are noteworthy differences in medical marijuana and recreational marijuana — both in how the drug is sold and what varieties of the drug are available. If you live in a state where recreational marijuana has been legalized, you might still consider seeking a medical marijuana card. Here’s why.

How Medical Marijuana and Recreational Marijuana Differ

Currently, marijuana remains a Schedule I drug at the federal level, and states are responsible for regulating both medicinal and recreational cannabis. Thus, the differences between medical marijuana and recreational marijuana will vary from place to place; some states have tight restrictions on who can obtain medical weed and how medical weed can be sold while other states have an exceedingly blurry line between the cannabis products everyone can acquire and those reserved for the medically ailing. it is important that you research and understand the marijuana laws in your area, so you can make fully informed decisions about your weed use. 

Medical marijuana is intended for use treating diseases that are otherwise difficult to manage with other medications and therapies. Every state where medicinal weed is legal has a list of illnesses for which marijuana can be legally prescribed; they often contain baffling conditions like chronic pain and nausea, muscle spasms, Crohn’s disease, Parkinson’s disease, post-traumatic stress disorder, multiple sclerosis, and glaucoma —but again, you should investigate the qualifying diseases in your state. 

Regardless of what medicinal weed is used to treat, it needs to have an effect on its users. Thus, medical marijuana tends to have much higher THC and CBD content to ensure that the drug is having an impact. Additionally, medical marijuana endures much more rigorous testing to ensure purity and potency. Sufferers of the worst diseases need to be able to trust that their treatment will help and not hurt, so medical-grade marijuana tends to be more tightly controlled.

Recreational marijuana is intended only for recreational use — which is to say that it should be taken for fun and enjoyment, not any kind of treatment. While many states still regulate recreational weed to some degree, the testing is not nearly as meticulous as it is for medicinal marijuana. As a result, there tends to be much more variety of weed strains and products in recreational dispensaries, with a great diversity of THC and CBD levels. Often, recreational users cannot obtain the sky-high THC content strains as are available to medical users. 

How Medical and Recreational Dispensaries Differ

 It isn’t just weed products that differ — it is the dispensaries themselves. Though some states do allow for dispensaries to hold both recreational and medicinal sales licenses, most dispensaries are one or the other. As a result, medical marijuana users need to be careful to look for the right dispensaries, just as I always search specifically for a recreational dispensary near me.

You can think of medical marijuana dispensaries like pharmacies — because that is essentially what they are. The budtenders behind the counters at medical dispensaries are more highly trained to assist with delivering the right marijuana product to different kinds of marijuana patients. They are permitted to ask about conditions and symptoms, and they are allowed to maintain health records to better meet your medicinal needs in the future. However, to gain access to this high-quality service, you will need a recommendation from a healthcare professional or a medical marijuana license from your state.

Meanwhile, recreational dispensaries are much less intensive. While you will need to provide evidence of your age — all states currently require recreational users to be 21 years or over — you will have much more freedom to choose weed products that interest you. You can ask budtenders at recreational dispensaries some questions about strain potency and effects, but in many places, they cannot legally answer questions related to medical use. Thus, if you have pain or anxiety you would like to mitigate with marijuana, you might be better off obtaining your medical card.

For many, marijuana is a miracle drug that pleasantly alleviates some of the worst symptoms of disease. However, even in states where recreational weed is legal, some users need to obtain medical permission to obtain the right products to treat their conditions. Instead of managing with what is available at your recreational dispensary, you might benefit greatly from strains reserved for medicinal use — which means you might just need a medical marijuana card in 2020. 

 


StaffFebruary 10, 2020
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5min1251
Editors Note: This is a guest post from Teresa Martin.
Complaints from patients across the state prompted an advisory from the Illinois Department of Financial Professional Regulation for dispensary operations across the state on Friday. The complaint was directed at possible shortages of patients’ normal medical purchases, due to recreational sales.
New mandates from regulators state that a dispensary must leave a window open solely for medical sales. Dispensaries must not hold products back for recreational sales. Medical patients must be able to purchase 2.5 times the amount set by a dispensary, for any recreational sales. Cannabis supply for medical patients has eased somewhat, since the first of the year, in the Champaign – Urbana area of Illinois, as of this writing on February 7, 2020.
Access to medicinal cannabis has taken some ups and downs for the last couple of months. Patients are still being treated to first of the line service in the area as dispensaries try to keep up with the demand from recreational marijuana sales that started January 1, 2020.
The first day of recreational sales in the Twin Cities was robust and lines were wrapped around buildings. For hours, potential customers stood in inclement weather to be part of history. Most were happy to just wait patiently for their turn at purchasing marijuana, which has been illegal in this state, except for people with certain conditions, until now.
Medical patients were directed to the front of the line in order to have access to plenty of medicinal choices.
Cresco Labs, which is the operator of Sunnyside dispensary in  Champaign Il has been able to offer its medical patients a limited, though steady amount of offerings since the first of the year. NU Med dispensary in Urbana, Il has had similar effects on the demand for cannabis being played out.
The supply for both medical cannabis and recreational has varied in the one plus months since the beginning of recreational sales. Some days, sales are only open to medical patients to keep a supply for their demand intact.
The following shows the supply for medical cannabis for the current day of February 7, 2020. These two cannabis dispensaries are the only two currently operating in this east central Illinois area.
Sunnyside Dispensaries listed on their medical menu the following:
• Flower 19
• Concentrates  8
• Edibles  90
• Topical 14
• Vapes 89
• Tincture 5
Unique items included tonics, cereal, teas, and bath salts
NuMed dispensary offerings were:
• Flower 2
• Concentrates
• Edibles 78
• Topical 12
• Vapes 72
• Tincture 2
• Tablet & Capsules 14
Some of their unique offerings include oatmeal, teas, body oil, and suppositories.
It is yet to be seen if these new regulations will help to ease the cannabis demand, for medical patients. Putting your states medical patients first is a step in the right direction for helping to alleviate the pain of some 100,000 patients in the state.

William SumnerJuly 30, 2019
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5min1040

On July 29, 2019, New York Gov. Andrew Cuomo signed into law a measure that reduces the penalties for cannabis possession.

“While the failure to pass a comprehensive legalization bill is an unfortunate loss to the taxpayers of New York, the decriminalization of small amounts of cannabis is significant progress for social justice initiatives, an underreported aspect of the legalization movement,” said Evan Eneman, CEO of MGO|ELLO Alliance, a cannabis finance and banking firm.

Although New York decriminalized the possession of 23 grams or less of cannabis in 1977, tens of thousands of New Yorkers have still found themselves arrested and charged with possessing small amounts of cannabis. Between 2008 and 2017, approximately 360,000 people have been arrested for cannabis possession, the majority of which have been persons of color.

“Communities of color have been disproportionately impacted by laws governing marijuana for far too long, and today we are ending this injustice once and for all,” Cuomo said in a statement. “By providing individuals who have suffered the consequences of an unfair marijuana conviction with a path to have their records expunged and by reducing draconian penalties, we are taking a critical step forward in addressing a broken and discriminatory criminal justice process.”

Despite recent legalization developments, THC drug tests still remain common and are performed by up to 63% of US employers. As a result, medical marijuana patients may still need to detox from weed before applying for a job.

Though the majority of New York residents support cannabis legalization, the state legislature failed this year to pass a full-legalization bill. The primary reason for the bill’s failure was due to disagreements over diversity requirements for licensees. To many, the recently passed decriminalization bill is seen as a stop-gap measure while the legislature works out the details of full legalization.

The new law reduces cannabis possession to a violation punishable by a fine and removes criminal penalties for cannabis possession under two ounces. The measure also creates a process for individuals charged with cannabis possession to have their records expunged, both retroactively and for future convictions.

Individuals caught possessing cannabis will be fined $50 for the first offense and fined $200 for a second offense within three years of the first violation. Those caught for a third time within three years will be subject to a $250 fine and/or 15 days in jail. The new law will go into effect on August 29, 2019.

Medical Marijuana Inc.’s (OTC: MJNA) Dr. Stuart Titus said, “New York has a history of leading the way in many legislative policies for the U.S. and we hope that this new decriminalization measure in New York will set an example for other states, and the federal government to follow.”

The illegal nature of cannabis hasn’t frightened the investors away. Eneman added, “The cannabis industry isn’t waiting for regulators to catch up, as demonstrated by the record-setting pace of venture capital investing, as detailed in the MGO | ELLO Cannabis Private Investment Review. The report shows investment exceeding $1.3 billion already through the first half of this year as compared to $1B in total in 2018. Investors have a strong appetite for cannabis and they aren’t letting roadblocks like legalization stand in their way.”

 


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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