Medical Marijuana Inc. Announces 4th Quarter 2011 Results: Quarter-over-Quarter Revenue Up 115% and Accumulative Revenue Increase of 3941% Since The 1st Quarter of 2011
Feb 03, 2012
OTC Disclosure News Service
San Diego, CA –
Medical MarijuanaInc. Announces 4th Quarter 2011 Results:
Quarter-over-Quarter Revenue Up 115% and Accumulative Revenue Increase of 3941%Since The 1st Quarter of 2011
SAN DIEGO, CA–(Business Wire – February 3, 2012) – Medical Marijuana Inc (OTC: MJNA) is pleased to announce the results for its quarter ending December 31, 2011. The company’s revenue increased in excess of 115%over the prior quarter from $198,812.60 to $430,139.36. Since the close of the first quarter 2011, to the close of the fourth quarter 2011, company revenues have increased an accumulative 3941%, and quarter over quarter since the first quarter 2011 have had a compounded quarterly increase of 101%. This increase comes from its subsidiary Wellness Managed Services, which engages in the management and development of Health and Wellness facilities and hydroponics stores throughout North America.
“We are very pleased with our year end results; we have had new management in place for just over eight months and have seen very strong growth. However, we did have some setbacks at the beginning of the third quarter and we were able to resolve those at the end of the fourth quarter. We anticipate having significant growth throughout 2012 with the development of Wellness Managed Services as well as the commercialization of our much anticipated Hemp Compounds business, which has focused on the research, development and sales of hemp extracts for the pharmaceutical and nutraseutical industries. It is also important to point out that for the first time since the company’s inception it has stabilized its operating costs and with its additional growth from Wellness Managed Services and the launch of Hemp Compounds that should all add to our bottom line.” Stated Michael Llamas, President of Medical Marijuana Inc.
ABOUT MEDICAL MARIJUANA INC
Medical Marijuana Inc. (“MJNA”) is the first publicly held company vested in the medical marijuana and industrial hemp industries. Our mission is to be the world’s premier cannabis and hemp industry innovators,leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present,and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.
Medical Marijuana Inc.
2665 Ariane Drive Suite 207
San Diego, CA 92117
Toll Free: 888-OTC-MJNA(888-682-6562)
Investor Relations Contact
Equiti-Trend Advisors, LLC
Carmel Valley Center II
11995 El Camino Real, Suite 301
San Diego, CA 92130
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