{"id":1857,"date":"2018-05-23T16:13:09","date_gmt":"2018-05-23T16:13:09","guid":{"rendered":"https:\/\/www.medicalmarijuanainc.com\/?p=36224"},"modified":"2018-05-23T16:13:09","modified_gmt":"2018-05-23T16:13:09","slug":"medical-marijuana-inc-announces-q1-2018-as-the-largest-sales-revenue-quarter-in-company-history-shows-gross-revenue-increase-exceeding-190","status":"publish","type":"post","link":"https:\/\/medicalmarijuanainc.com\/2018\/05\/23\/medical-marijuana-inc-announces-q1-2018-as-the-largest-sales-revenue-quarter-in-company-history-shows-gross-revenue-increase-exceeding-190\/","title":{"rendered":"Medical Marijuana, Inc. Announces Q1 2018 as the Largest Sales Revenue Quarter in Company History: Shows Gross Revenue Increase Exceeding 190%"},"content":{"rendered":"

SAN DIEGO, May 23, 2018 —\u00a0Medical Marijuana, Inc.\u00a0(OTC:\u00a0MJNA), the first-ever publicly traded cannabis company in the United States, today announced that the company and its subsidiaries\u00a0Kannaway\u00ae<\/a>\u00a0and\u00a0HempMeds\u00ae<\/a>\u00a0have booked their largest-ever sales revenue quarter in their history in Q1 2018, as well as reached major milestones in its business operations.<\/p>\n

Medical Marijuana, Inc. Q1 2018 revenues exceeded $10.5 million, an increase of more than 190% over Q1 2017.<\/p>\n

Total gross profits for Q1 2018 increased more than\u00a030% as compared to Q1 2017.<\/p>\n

Wholly-owned subsidiary Kannaway\u00ae saw the most growth from Q1 2017 to Q1 2018, with Q1 2018 revenues increasing more than 325% to $7.5 million.<\/p>\n

The company experienced many accomplishments in Q1 including launching its newest subsidiary\u00a0Phyto Animal Health<\/a>, which produces and distributes cannabidiol (CBD) and hemp products for companion animals; achieving registration of its\u00a0Real Scientific Hemp Oil-X\u2122 (RSHO-X\u2122)<\/a>\u00a0and RSHO\u2122-Blue Label products as medicines by Paraguay’s national health regulation organization (Direcci\u00f3n Nacional de Vigilancia Sanitaria); and being named a “Top Three Hemp Producer of 2018<\/a>.”<\/p>\n

“In Q1 2018, we had the best revenue quarter in the history of our Company,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus.\u00a0“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.”<\/p>\n

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.<\/p>\n

“This achievement showcases that Medical Marijuana, Inc. and its subsidiaries are flourishing in the fast-growing cannabis industry and will continue to be leaders\u00a0in\u00a0the CBD\u00a0and 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.”<\/p>\n

FIRST QUARTER 2018 HIGHLIGHTS<\/strong><\/p>\n

During the first quarter of 2018, Medical Marijuana, Inc. and its subsidiaries achieved the following milestones and significant events:<\/p>\n

1)\u00a0HempMeds\u00ae<\/a><\/p>\n

Medical Marijuana, Inc.’s wholly owned subsidiary HempMeds\u00ae is the portfolio’s predominate consumer brand and saw massive expansion and continued growth for its line of CBD hemp oil products, including the following:<\/p>\n