{"id":1719,"date":"2018-08-22T23:05:29","date_gmt":"2018-08-22T23:05:29","guid":{"rendered":"https:\/\/www.medicalmarijuanainc.com\/?p=49043"},"modified":"2018-08-22T23:05:29","modified_gmt":"2018-08-22T23:05:29","slug":"medical-marijuana-inc-records-largest-sales-revenue-quarter-in-company-history","status":"publish","type":"post","link":"https:\/\/medicalmarijuanainc.com\/2018\/08\/22\/medical-marijuana-inc-records-largest-sales-revenue-quarter-in-company-history\/","title":{"rendered":"Medical Marijuana, Inc. Records Largest Sales Revenue Quarter in Company History"},"content":{"rendered":"<h3><i><span style=\"font-weight: 400;\">Medical Marijuana, Inc. family of companies more than doubles gross revenue and profit in Q2 2018 over Q2 2017.<\/span><\/i><\/h3>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. and our family of companies have just recorded our largest-ever sales revenue quarter in our history, continuing our upward trend this year. 2018 has been an incredible year for Medical Marijuana, Inc. as we have set new sales revenue records for our company in all but one month of 2018 so far. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIn Q2 we saw significant media coverage and operational successes,\u201d said Medical Marijuana, Inc. CEO Dr. Stuart Titus. \u201cAs we move into Q3, we will aim to continuously make our mark in the cannabis space with our portfolio of high-quality cannabis products, all while increasing shareholder value.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Q2 Numbers<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A closer look at our numbers in Q2 of 2018 compared to the same period in 2017 begins to reveal the success we\u2019ve achieved in the first half of 2018. Both gross revenue and gross profit in Q2 of 2018 more than doubled over Q2 numbers from 2017. <\/span><\/p>\n<p><b>Gross Revenue:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2017 \u2013 $6.1M<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $14.8M<\/span><\/li>\n<\/ul>\n<p><b>Gross Profit:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2017 \u2013 $4.1M<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Q2 2018 \u2013 $8.6M<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u201cOur wide range of accomplishments and milestones during Q2 speak to the Company\u2019s integral role as a leader in the legal medical cannabis industry,\u201d said Medical Marijuana, Inc. Chief Operating Officer Blake Schroeder. \u201cThe Company and its portfolio of subsidiaries will continue to diversify and adapt to the ever-changing market, and we are looking forward to greatly expanding operations during Q3.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find the highlights from our second quarter of 2018 below. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Launching New Products<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The Medical Marijuana, Inc. portfolio of companies launched a trio of new product lines. Ranging from pet products to skin care, these new products expand the market for our CBD products and bring access to CBD to an entirely new audience. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/medicalmarijuanainc.com\/find-hempbone-bacon-apple-flavored-cbd-infused-pet-treats-now-in-the-medical-marijuana-inc-store\/\"><span style=\"font-weight: 400;\">HempBone Bacon Apple Donuts<\/span><\/a><span style=\"font-weight: 400;\"> from Phyto Animal Health<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/medicalmarijuanainc.com\/european-event-in-prague\/\"><span style=\"font-weight: 400;\">Cannabis Beauty<\/span><\/a><span style=\"font-weight: 400;\"> CBD-infused Skin Care from Kannaway <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. and our subsidiaries are continuously developing new products to ensure our brands remain competitive in the rapidly growing CBD market. Visit our <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/news\/\"><span style=\"font-weight: 400;\">company news feed<\/span><\/a><span style=\"font-weight: 400;\"> to stay up-to-date with our latest product releases.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-49048\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2018\/08\/iStock-626352768-2.jpg\" alt=\"International marijuana\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Opening New Markets<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. also worked to enter additional international markets during Q2 of 2018, bringing our CBD brands to more people than ever before. These new markets help move use closer to our goal of access to CBD for everyone. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Bermuda<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae has partnered with one of the largest pharmacies in Bermuda to sell the company\u2019s flagship <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/real-scientific-hemp-oil\"><span style=\"font-weight: 400;\">Real Scientific Hemp Oil\u2122<\/span><\/a><span style=\"font-weight: 400;\"> (RSHO\u2122) CBD oil products in their store. This partnership will make it easier than ever before for consumers to access CBD products in Bermuda.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CBD products are considered a non-prescription product in Bermuda, meaning that customers on the island looking to purchase it do not need to visit a doctor first. HempMeds\u00ae\u2019 <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/distribution-bermuda\/\"><span style=\"font-weight: 400;\">entry into the Bermuda<\/span><\/a><span style=\"font-weight: 400;\"> market is part of Medical Marijuana, Inc.\u2019s larger international expansion efforts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cOur international expansion isn\u2019t over until we\u2019re able to sell our cannabidiol (CBD) products in every country around the world,\u201d said Medical Marijuana, Inc. CEO Dr. Stuart Titus. \u201cWe feel very fortunate to partner with this prestigious pharmacy to help expand CBD access throughout Bermuda.\u201d<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Argentina<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae announced in June that it had its first CBD product <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/rsho-x-receives-first-ever-import-authorization-for-thc-free-cbd-products-in-argentina\/\"><span style=\"font-weight: 400;\">authorized for import into Argentina<\/span><\/a><span style=\"font-weight: 400;\">. Real Scientific Hemp Oil-X\u2122 (RSHO-X\u2122) is now available for free to qualifying patients as part of the country\u2019s healthcare system. Argentina\u2019s National Administration of Medicines, Food and Medical Technology (ANMAT) officially approved the product for import for patients in the country suffering from serious medical conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CBD products must be prescribed by a licensed physician. A patient is allowed to import as much as a six-month\u2019s supply. RSHO-X\u2122 is currently only available for patients with refractory epilepsy, but more conditions are expected to follow suit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Patients looking to access CBD products in Argentina must register with the Ministry of Health. The government has said it will guarantee free access to CBD oil for all patients who are approved for CBD as a medication.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Canada<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Finally, Medical Marijuana, Inc. <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/medical-marijuana-inc-begins-efforts-to-enter-canadian-cannabis-market\/\"><span style=\"font-weight: 400;\">took the initial steps<\/span><\/a><span style=\"font-weight: 400;\"> to bring its most popular brands to customers in Canada, potentially offering industry-leading brands like <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/real-scientific-hemp-oil\"><span style=\"font-weight: 400;\">Real Scientific Hemp Oil\u2122<\/span><\/a><span style=\"font-weight: 400;\"> (RSHO\u2122) and <\/span><a href=\"https:\/\/shop.medicalmarijuanainc.com\/dixie-botanicals\"><span style=\"font-weight: 400;\">Dixie Botanicals\u00ae<\/span><\/a><span style=\"font-weight: 400;\"> in the country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. has signed a non-binding Letter of Intent (LOI) with Salvation Botanicals, Ltd. to bring its internationally recognized cannabis products to the quickly growing Canadian cannabis market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While much of the focus has been on recreational marijuana legalization, another effect of Canada\u2019s Cannabis Act is that <\/span><a href=\"https:\/\/hempindustrydaily.com\/flower-power-canadas-new-hemp-rules-boost-cbd-production-limits-remain\/\"><span style=\"font-weight: 400;\">hemp farmers will be able to sell their crops to licensed producers<\/span><\/a><span style=\"font-weight: 400;\"> for CBD extraction, a shift away from a previous policy that banned the creation and distribution of CBD from hemp flowers in Canada. It has been predicted the overall Canadian hemp industry could be worth <\/span><a href=\"https:\/\/hempindustrydaily.com\/flower-power-canadas-new-hemp-rules-boost-cbd-production-limits-remain\/\"><span style=\"font-weight: 400;\">$1 billion a year by 2023<\/span><\/a><span style=\"font-weight: 400;\">, with a large percentage of that coming from the sale of CBD products.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-49051\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2018\/08\/Friday-7086-3.jpg\" alt=\"medical marijuana events\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Participation and Sponsorship of Events<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Sponsoring, hosting, and participating in events linked to health and the therapeutic use of cannabis is an important part of Medical Marijuana, Inc.\u2019s strategy for expanding an understanding of the multitude of benefits provided by CBD. In Q2 of 2018, our family of companies used events across the U.S. and around the globe to promote our CBD products. <\/span><\/p>\n<h3><span style=\"font-weight: 400;\">HempMeds<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae was a <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/inc-subsidiary-hempmeds-sponsor-expo\/\"><span style=\"font-weight: 400;\">Gold Sponsor<\/span><\/a><span style=\"font-weight: 400;\"> of the <\/span><a href=\"https:\/\/www.compassionatecertificationcenters.com\/2018-world-medical-cannabis-conference-expo\/schedule\/\"><span style=\"font-weight: 400;\">2018 World Medical Cannabis Conference &amp; Expo<\/span><\/a><span style=\"font-weight: 400;\">, which took place from April 12-14 in Pittsburgh, Pennsylvania. The three-day cannabis event was created to take advantage of the growing medical marijuana market in Pennsylvania and in medical marijuana states throughout the U.S.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae\u2019 experienced team of CBD oil specialists was on hand at the HempMeds\u00ae booth to meet with doctors, wholesalers, and the general public throughout the event to demonstrate the company\u2019s line of CBD products and answer any questions attendees had.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The CEO of Medical Marijuana, Inc., Dr. Stuart Titus, brought his extensive knowledge and experience with CBD to this year\u2019s conference as a featured speaker, discussing the body\u2019s native endocannabinoid system and the potential health and wellness benefits of supporting this system with CBD.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Then, at the end of May, HempMeds\u00ae participated in the <\/span><a href=\"http:\/\/www.cwcbexpo.com\/new-york\/2018\"><span style=\"font-weight: 400;\">Cannabis World Congress &amp; Business Expo<\/span><\/a><span style=\"font-weight: 400;\">. The CWCBE brings together cannabis businesses, advocates, patients, and the general public for a three day event. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae hosted a booth on the expo floor where attendees could learn more about CBD from the company\u2019s team of CBD experts, try the company\u2019s CBD products for themselves, and even purchase products from popular brands like Real Scientific Hemp Oil\u2122 and Dixie Botanicals\u00ae at a discount.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Representatives from the Medical Marijuana, Inc. family of companies gave interviews at the booth as well to local and national media outlets, including Medical Marijuana, Inc. CEO Dr. Stuart Titus, Kannalife\u2122 CEO Dean Petkanas, Kannaway spokesperson Christian Okoye, and HempMeds\u00ae spokesperson Liz Carmouche. The Medical Marijuana, Inc. family was also well represented in the event\u2019s educational panels and talks.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Kannaway<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Kannaway also hosted events in the U.S. and internationally to help promote CBD and the opportunity presented by starting a personal CBD business with Kannaway.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">First, the company held its <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/largest-national-event\/\"><span style=\"font-weight: 400;\">Empower National Convention<\/span><\/a><span style=\"font-weight: 400;\"> in Las Vegas from April 14th-15th. Featuring speakers from across the Kannaway organization, including members of the executive team, the company\u2019s top performing brand ambassadors, and special guests. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company celebrated an astounding 40 times revenue growth over the past two years, introduced a number of new initiatives, and launched new products to help drive Kannaway\u2019s further success. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Kannaway followed up their Empower National Convention with its <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/european-event-in-prague\/\"><span style=\"font-weight: 400;\">largest ever event<\/span><\/a><span style=\"font-weight: 400;\">, held in the beautiful European city of Prague. Attendees traveled from over 20 different countries to learn first-hand about hemp, CBD, and the Kannaway opportunity.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">HempMeds\u00ae Brasil<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. subsidiary <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-brasil\/\"><span style=\"font-weight: 400;\">HempMeds\u00ae<\/span><\/a><span style=\"font-weight: 400;\"> Brasil invited doctors from Brazil to an <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-brasil-symposium\/\"><span style=\"font-weight: 400;\">educational symposium<\/span><\/a><span style=\"font-weight: 400;\"> on CBD, scientific research, and best practices for prescribing it. The event was hosted at Medical Marijuana, Inc.\u2019s offices in downtown San Diego on Monday, April 30.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The doctors in attendance toured the Medical Marijuana, Inc. home offices, meeting with Medical Marijuana, Inc. and HempMeds\u00ae Brasil executives and employees and seeing the hard work put in to ensuring that patients in Brazil have access to the CBD products prescribed by their doctors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The group then gathered in our boardroom overlooking the beautiful San Diego Bay for presentations by Medical Marijuana, Inc. executives and noted clinical researchers that explored CBD and its many health and wellness benefits and detailed Medical Marijuana, Inc.\u2019s efforts to spread access to CBD to patients throughout Latin America.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Speakers at the event included Medical Marijuana, Inc. and HempMeds\u00ae Brasil executives, CBD advocates, and noted researchers currently working with CBD in their research into a number of medical conditions. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">HempMeds\u00ae Brasil was also a <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/hempmeds-brasil-event\/\"><span style=\"font-weight: 400;\">primary sponsor<\/span><\/a><span style=\"font-weight: 400;\"> for the <\/span><a href=\"http:\/\/apepi.org\/cannabisamanha\/\"><span style=\"font-weight: 400;\">\u201cA Look Into the Future\u201d International Medicinal Seminar<\/span><\/a><span style=\"font-weight: 400;\"> held May 18-19 in Rio de Janeiro, Brazil. The event explored more closely the potential of cannabis products like CBD oil from RSHO\u2122 in healthcare. The event covered in detail efforts for expanded access, results of cannabis research, the current regulation of cannabis in Brazil, and the impact medical cannabis can play in public health.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Along with being a main sponsor for the event, HempMeds\u00ae Brasil hosted a booth at the event where patients, doctors and health professionals, business owners, and other attendees could stop by to learn more about the company, the RSHO\u2122 line of CBD oil products, and the promise CBD holds as a therapeutic compound in Brazil.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-49052\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2018\/08\/sw09-okoyechristian-22-16_9-3.jpg\" alt=\"athletes and CBD\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Partnering with a New Spokesperson<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Kannaway began its partnership with former NFL running back <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/christian-okoye-partners-kannaway\/\"><span style=\"font-weight: 400;\">Christian Okoye<\/span><\/a><span style=\"font-weight: 400;\"> in May. In his new role, Okoye works with Kannaway to spread awareness of the therapeutic benefits of CBD, focusing specifically on developing relationships with athletes and those simply looking to lead a healthy, active lifestyle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Okoye recently became a vocal advocate for CBD after he was given some Kannaway products by one of his former teammates. Unsure whether they would make a difference, Okoye now eagerly promotes the use of CBD, adding Kannaway\u2019s Gold Premium Hemp Oil, Pure Gold CBD liquid, and CBD-infused energy chews to his own daily routine.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cI\u2019m looking forward to sharing my experience with Kannaway\u2019s many unique CBD products. I was skeptical at first but now I couldn\u2019t imagine life without them,\u201d said Okoye of the partnership. \u201cI hope my story can help spread awareness of the benefits of CBD so that athletes like me can feel comfortable giving it a try.\u201d<\/span><\/p>\n<h2><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-49047\" src=\"https:\/\/www.medicalmarijuanainc.com\/wp-content\/uploads\/2018\/08\/cameras.jpg\" alt=\"latest marijuana news\" width=\"1200\" height=\"500\" \/><\/span><\/h2>\n<h2><span style=\"font-weight: 400;\">Coverage in Major Media<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Medical Marijuana, Inc. and several of our portfolio and investment companies were highlighted in a recent segment on the <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/medical-marijuana-inc-featured-on-history-channel-series-innovations\/\"><span style=\"font-weight: 400;\">History Channel<\/span><\/a><span style=\"font-weight: 400;\"> show Innovations with Ed Begley, Jr. The show typically looks at the most recent breakthroughs and developments from a wide range of industries. Medical Marijuana, Inc. and our family of companies were featured on the show dedicated to the cannabis industry. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our portfolio of companies was also featured in major media outlets, like Dateline NBC, BuzzFeed, Forbes, The Street, TMZ, Benzinga, Leafly, Chicago Tribune, Shape Magazine, Medium, Bustle, Vice, and more.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can find more media coverage of the Medical Marijuana, Inc. family of companies <\/span><a href=\"https:\/\/investors.medicalmarijuanainc.com\/category\/media-coverage\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Learn More About Our Family of Companies<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Get the latest updates from Medical Marijuana, Inc. and our portfolio of companies by visiting our <\/span><a href=\"https:\/\/medicalmarijuanainc.com\/news\/\"><span style=\"font-weight: 400;\">news feed<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Medical Marijuana, Inc. family of companies more than doubles gross revenue and profit in Q2 2018 over Q2 2017. Medical Marijuana, Inc. and our family of companies have just recorded our largest-ever sales revenue quarter in our history, continuing our upward trend this year. 2018 has been an incredible year for Medical Marijuana, Inc. as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[161,3,42,22,4,137,23],"tags":[],"class_list":["post-1719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cannabis-beauty-defined","category-company-news","category-dixie-botanicals","category-hempmeds","category-hempmeds-brasil","category-hempmeds-mexico","category-kannaway"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Medical Marijuana, Inc. 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