The cannabis community had much to celebrate this year. From the expansion of marijuana access to an increase in cannabis research, this amazing plant and the incredible industry that has sprung up around it has experienced unprecedented growth since last 4/20.
There are now over 2 million medical marijuana patients in the U.S., and 95 percent of Americans live in a state with at least some form of medical marijuana law. Seven states legalized marijuana use in November’s election, adding to Ohio and Pennsylvania, both of which legalized medical marijuana this year. Internationally, Argentina, Paraguay, Ireland, Mexico, Canada, Israel, and Uruguay have all moved to legalize cannabis.
Surveys have demonstrated that support for medical and recreational marijuana have grown this past year, and the majority of Americans support marijuana legalization and don’t want the federal government to interfere.
With such astounding growth and never before seen levels of support, Medical Marijuana, Inc. would like to pause this 420 holiday and look back on the achievements cannabis saw this past year.
Since last 4/20, our understanding of cannabis, cannabinoids, and the endocannabinoid system has increased, giving us new insight into how this plant can be utilized in traditional medicine.
Marijuana was shown to significantly reduce the use of pain and anxiety medications, during a time when reliance on and addiction to prescription drugs is at epidemic levels. In fact, studies show that marijuana use can actually reduce the use of tobacco, alcohol, and opioids.
Healthcare professionals came out in favor of legalizing medical marijuana before the South Carolina State Senate this winter. Before that, the American Nurses Association also called for the rescheduling of cannabis, allowing for it to be used more widely in healthcare.
Visit our cannabis research page to gain a more thorough understanding of the effects of cannabis on our naturally-occurring endocannabinoid systems.
Financially, the cannabis industry has grown as well, and the global cannabis industry could be worth $55.8 billion or more by 2025.
Medical Marijuana, Inc.’s diversified portfolio keeps us competitive in the booming cannabis market. Both Medical Marijuana, Inc. and our investment company AXIM® Biotechnologies were named among the top 10 cannabis companies.
Not only has cannabis been lucrative for investors, but states have gained from the cannabis windfall as well. Colorado recently passed nine months in a row with cannabis revenue exceeding $100 million, while Washington is bringing in $1 million in tax revenue from cannabis each day. In Oregon, cannabis is boosting the economy to the tune of $1.5 billion. Colorado made enough in tax revenue that they could use it for social programs in the state, like to curb school bullying, proving that cannabis can be used as a force for social good.
Even the Trump administration, which has taken an aggressive stance on cannabis, seems unable to slow the progress. A report this year revealed that marijuana could be legalized in all 50 states by 2021. However, this won’t come without a concerted effort on the part of activists, lawmakers, and industry leaders. Governors of legal marijuana states have collectively told the Trump presidency to keep federal hands off their state programs, and cannabis advocates have been vocal in their call for reform.
Medical Marijuana, Inc. did our part to support the cannabis community this year. In October, our company donated to the successful Proposition 64 campaign to legalize recreational cannabis use in our home state of California. More recently, we became a major sponsor of the Americans for Safe Access Unity Conference held on Capitol Hill to promote major cannabis reform.
We also took to the road this year to raise awareness for the effects of cannabis. We took our CBD hemp oil products to events like the A4M anti-aging conference to show how the benefits of CBD can work in health and wellness. Medical Marijuana, Inc. was also a major supporter and participant at nearly a dozen of the nation’s premier cannabis conferences.
Finally, Medical Marijuana, Inc. attended the MoneyShow in Dallas, San Francisco, and Orlando to promote the incredible potential in cannabis investments, including an estimated $2.1 billion global CBD market by 2020.
The Medical Marijuana, Inc. family of companies also reached new heights this year along with the expanding cannabis industry. We had a hiring push that began mid-year and continues as we seek to keep expanding our team. This hiring is meant to help us retain our role as a Company of Firsts® in the cannabis space. CBD has become a fast growing sector of the cannabis industry, and more and more medical marijuana patients are using CBD as part of their cannabis routine.
Medical Marijuana, Inc.’s retail and wholesale distribution company, HempMeds® continued their expansion in the CBD oil space to retain their position as the industry leader in CBD supplements.
To help accomplish this, HempMeds® created a new website for their customers, offering an enhanced shopping experience, expanded educational information, and smoother user interface. This new website was designed to work in conjunction with the team of knowledgeable HempMeds® specialists to fulfill the company’s goal of being Your Trusted CBD Source™.
HempMeds® also introduced its new RSHO-X™, the first zero-THC CBD hemp oil product available, to their store this past year. Initially created to meet the strict guidelines for cannabinoid based products accepted in Mexico, RSHO–X™ was launched to all HempMeds® customers this year. Immediately, RSHO–X™ became popular with our customers looking to avoid even trace levels of THC in their CBD supplements. This created a new market of CBD oil customers, including active and retired members of the military, first responders, like police, firefighters, and EMTs, or anyone subject to a drug test.
Medical Marijuana, Inc.’s premier lifestyle marketing company, Kannaway relaunched its brand this year with a fresh new look, exciting new products, and a streamlined online experience. Kannaway has added a number of new products this year, including their Gold Premium Hemp Oil. This single ingredient hemp oil is extracted from the hemp plant and packaged with no additives to retain the makeup of the hemp plant itself, providing concentrated levels of CBD in each serving. These changes helped Kannaway surpass 8x growth for the year.
HempMeds® Mexico celebrated a historic first year. The company has labored to ease access to CBD in Mexico through educational and lobbying efforts. Part of this effort included the creation of an official partnership with the Por Grace Foundation. The premier cannabidiol advocacy group in Mexico, the Por Grace Foundation works closely with HempMeds® Mexico to help interested patients navigate the process to access CBD. HempMeds® RSHO-X™ THC-free CBD oil was also at the center of a recent study on the effects of CBD and epilepsy.
This year HempMeds® Brasil took steps that will help reinforce its position as the proven industry leader for CBD products in Brazil, including the introduction of new products and the introduction of new management. Similarly, HempMeds® Brasil continued their efforts to connect with the doctor and patient communities this year by hosting their first ever national symposium.
Both HempMeds® Brasil and HempMeds® Mexico also launched new websites this year, customized serve the needs of local patients who get approval by prescription to purchase our products.
Our pharmaceutical investment company AXIM® Biotechnologies had an incredible year, drawing the attention of industry insiders and expert investors. AXIM® was named to the top 5 biotech stocks of 2016. Much of this growth came after news that AXIM® Biotechnologies received the funding this year for a number of clinical trials, including for irritable bowel syndrome. The company also received an extension on its delayed-release chewing gum patent to include all cannabinoids this year.
Just recently, the company released plans to develop a chewing gum bioequivalent to Marinol, an FDA approved synthetic THC medication. This will help AXIM® remain competitive in the burgeoning cannabinoid-based pharmaceutical market.
Medical Marijuana, Inc. was the first company to create a global CBD pipeline and the first to deliver CBD hemp oil products to customers in all 50 U.S. states and to over 40 countries internationally, creating mainstream brands like Real Scientific Hemp Oil™ and Dixie Botanicals® along the way.
As a Company of Firsts®, Medical Marijuana, Inc. was also a pioneer in creating many of the industry standards customers have come to expect today. These industry standards, like our Triple Lab Tested™ process, ensure that our customers receive only the safest and most reliable products available. Read our full list of Firsts here.
While we put the past year in the books, we look forward during this 4/20 holiday to an industry with the potential to bring sustainable, community-focused change to the world around us. So as you celebrate this 4/20, remember where we started as a community decades ago and how much more cannabis has yet to achieve.
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This article 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.