Legal Marijuana & Cannabis Industry lean more toward heavily capitalized investors as Leading Technology & MMJ Manufacturers set sights on the Mainstream and becoming more socially acceptable. Major MMJ Companies in focus today are: Surna Inc. (OTC: SRNA), Medical Marijuana Inc. (OTC: MJNA), Hemp, Inc. (OTC: HEMP), Cannabis Science, Inc. (OTC: CBIS) and Nuvilex, Inc. (OTC: NVLX)
Surna Inc. (OTCQB: SRNA), an engineering and manufacturing firm that develops, acquires, produces and sells disruptive technology with a current focus on the legal marijuana industry recently reported third quarter financial results.
Surna CFO Doug McKinnon stated, “As expected, Company fundamentals are now reflected in our technical financials. Gross revenues have increased in excess of 330% from Q2 to Q3, from $340,000 to $1,200,000. When the revenues from our most recent acquisition are factored in, total revenues exceeded $1,800,000, or an increase in excess of 520%. A 40% year-to-date gross margin was also achieved.”.
Surna’s research and development engineers are creating advanced technologies intended to retool the cannabis industry. The Company is also aggressively pursuing the most promising acquisitions in the cannabis sector. Surna CEO and Zynga Co-FounderTom Bollich was recently featured on CNNMoney for his highly publicized segue into cannabis grow technology.
Medical Marijuana, Inc. (OTC Pink: MJNA) is pleased to inform shareholders and the general public that its portfolio companies were featured in news media reports from the 3rd annual Marijuana Business Conference held Nov. 12-14th in Las Vegas. As told by NBC3’s Kelsey Thomas, the conference grew to host more than 2,000 attendees and feature 125 exhibitors. Fueling attendee interest was, according to MMJ Business Daily, “The Nevada Department of Health and Human Services on Monday awarded 55 preliminary licenses for dispensaries and more than 300 for permits [for] other types of medical cannabis businesses.”
Hemp, Inc.’s (OTC Pink: HEMP) wholly owned subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, Inc. (IHMMCC), is announced this month that it has signed a consultant agreement with VaporBrands International, Inc. (OTC: VAPR), a leading company focused on the development and ownership of electronic cigarette brands. Per the Consultant Agreement, IHMMCC will provide product distribution, professional sales and marketing services, and sales representation for VaporBrands to the medical marijuana and industrial hemp industries, as well as source partnerships for international expansion and other traditional channels of distribution.
In a move that signals a forceful reinvestment in the largest legal medical cannabis market, Cannabis Science, Inc. (OTCQB: CBIS), a U.S. company specializing in global cannabis formulation-based drug development and consulting, has successfully renegotiated its agreement with Apothecary Genetics Investments LLC to purchase and license two northern California production farms with a combined total of 51 acres. The purchase includes all related equipment for cannabis cultivation and production for the state’s substantial medical cannabis market.
Nuvilex, Inc. (OTCQB: NVLX), a clinical-stage biotechnology company providing cell therapy solutions for the treatment of diseases, announced today that it has formed a “Diabetes Consortium” that will be tasked with the development of Nuvilex’s treatment for insulin-dependent diabetes. The composition of the Diabetes Consortium has evolved over many months. In addition to key personnel from Nuvilex, it consists of principals from Austrianova – Prof. Dr. Walter H. Gunzburg, the Chief Technical Officer of Austrianova and Nuvilex’s Chief Scientific Officer, Dr. Brian Salmons, the CEO of Austrianova (Drs. Gunzburg and Salmons co-developed the Cell-in-a-Box(R) technology) and Prof. Ann Simpson of the University of Technology Sydney (UTS) who, along with her professional colleagues at UTS, developed the insulin-producing cells known as Melligen cells. The plan is for these cells to be used as part of Nuvilex’s diabetes treatment.