The summer season is just about over, and Medical Marijuana, Inc. is seeing unprecedented success across our portfolio and investments. This summer included the largest revenue months in our company’s history and a number of important achievements by our family of companies, capping off an incredible start to the year.
With such steady growth and a commitment to innovation, Medical Marijuana, Inc. remains on the forefront of the burgeoning cannabis industry.
“As a well-known Company of Firsts®, we are encouraged to see the Company achieve new milestones – hitting its highest revenue marks in company history,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We continue to work closely with our portfolio of companies to ensure their success, and look forward to breaking new records as we continue to expand our footprint in new markets.”
Dr. Titus spent much of the first half of the year sharing the benefits of cannabinoids like CBD with news media, doctors and patients, and attendees at various conferences around the country.
In August, Dr. Titus was featured by The Huffington Post, detailing the company’s efforts to provide the first cannabinoid products in Mexico. Titus and our family of companies were also the centerpiece in a Forbes article detailing the booming CBD hemp market.
Dr. Titus also gave presentations on the science behind CBD at events like the Orlando MoneyShow, the World Medical Cannabis Conference and Expo, the Southeast Cannabis Conference and Expo, and the Cannabis World Congress and Business Expo. Dr. Titus also has a regular presence at major Kannaway events like the company’s Ignite! National Conference.
Much of Medical Marijuana, Inc.’s success this summer has been due to the growth seen in its portfolio of companies and investments. Continue reading below to see how each of these companies is adding to Medical Marijuana, Inc.’s overall success this year.
Kannaway® announced the largest-ever single month of revenue in June 2017, as well as its largest sales month and quarter, a feat they repeated in July and again in August. Kannaway® has grown month over month every single month in 2017.
“We are confident that Kannaway® is on a trajectory that continues to exceed expectations,” said Kannaway® CEO Blake Schroeder. “We are proud to be a part of the Medical Marijuana, Inc. family, which actively supports efforts to increase access to cannabidiol (CBD) products worldwide.”
Kannaway® hosted its Ignite! National Conference in Scottsdale, Arizona. Along with the company’s regional Red Carpet events, these national conferences are an opportunity for Kannaway® brand ambassadors to network, celebrate their personal successes, and learn how to build sustainable hemp oil businesses.
Kannaway® has turned its view toward international expansion this year as well, hiring Alex Grapov to head its move into Europe as International Vice President, and holding their first “Pre Launch” event in Poland. The company also brought in Jim Gibson as its Vice President of Operations.
The company also launched new products like its Essential Oil line, an improved HempVAP® CBD oil vaporizer, CBD-infused energy chews, and its Premium Full-Spectrum Hemp Oil pure CBD oil brand, giving Kannaway a competitive edge in the growing CBD oil market.
Gallery: Highlights from Kannaway’s National Convention in May.
AXIM® Biotechnologies started its year by entering into clinical trials for irritable bowel syndrome (IBS) using its patented delayed release, cannabinoid-infused chewing gum. The gum, formulated with CBD, is intended to treat the effects of IBS, including stomach cramps, bloating, pain, and other symptoms.
The company also secured Ora as their contract research organization (CRO) for future development and clinical trials for glaucoma and dry eye. Ora is one of the top ophthalmology CROs for advancing products through new drug approval.
AXIM® has also taken the first steps this summer toward developing a functional chewing gum with the bioequivalence to Marinol. Created with the synthetic THC dronabinol, the chewing gum is being created as an alternative painkiller to dangerous and addictive opioids. The company’s intention to create the new cannabinoid-based painkiller was covered Reuters in a story that highlighted its role in fighting America’s opioid epidemic.
To begin their year, the HempMeds® team increased its wholesale business by working with manufacturers and distributors to better understand their needs. The company also launched its affiliate program, opening an additional channel for distribution of its products.
As part of their support for the company and their mission for a healthier, more sustainable world, HempMeds® sponsored San Diego’s EarthFair 2017. The company also highlighted a home created using hempcrete that was on display at the event, demonstrating the many uses of environmentally friendly hemp.
The company also sponsored a number of cannabis and wellness focused events around the country this summer, including the California Cannabis Business Expo, the World Medical Cannabis Conference and Expo, and the Cannabis World Congress and Business Expo.
Gallery: The HempMeds® team educates the public about RSHO™ and CBD at events around the country.
HempMeds® Mexico made history this summer as their product, RSHO-X™, became the first cannabis product ever subsidized by a government in Mexico.
The country shifted its policy this summer and relaxed restrictions on medical marijuana, creating a growing opportunity for cannabinoid distribution in Mexico. Taking advantage of this new climate for cannabis in Mexico, HempMeds® Mexico opened its first local office in Monterrey, making it easier for the company to work one-on-one with patients, doctors, and health officials in the country. The office’s ribbon cutting ceremony and press conference were covered by international news sources like Forbes and Bloomberg.
HempMeds® Mexico also welcomed Raul Elizalde, founder of the Por Grace Foundation, as its General Manager. The company will rely on Raul’s extensive experience within Mexico’s medical cannabis industry to help guide HempMeds® Mexico through its continued expansion.
Gallery: HempMeds® Mexico GM Raul Elizalde at RSHO-X™ research press conference, office grand opening, and the press conference announcing the first ever cannabis subsidies by the state of Mexico.
The beginning of the year for HempMeds® Brasil also saw the launch of a new website, helping to put HempMeds® hemp oil products in the hands of more Brazilians than ever before.
The company also announced the first Alzheimer’s patient in the country to import RSHO™, a milestone covered by one of the nation’s most popular media outlets, Veja. With each new condition for which RSHO™ CBD oil is being used as a treatment, HempMeds® Brasil celebrates a new chance to positively affect the lives of someone suffering. Less than a month later, the company announced they had shipped RSHO™ to its first patients with multiple sclerosis and autism. Recently, the company announced similar news for patients with amyotrophic lateral sclerosis (ALS) and psoriasis. The company’s progress in helping to build Brazil’s legal CBD oil industry has been covered by news organizations around the country, including using HempMeds® Brasil as an informational source for articles on CBD.
HempMeds® Brasil also hosted its first regional health conference for doctors in the country in March to reach out to them with vital information regarding CBD as a treatment option for their patients. The company recently held a second symposium this summer that sold out, demonstrating the potential for CBD as a treatment option in Brazil.
Gallery: The HempMeds® Brasil team with special guests at the company’s second educational symposium for doctors.
The Future of the CBD Industry
Medical Marijuana, Inc. expects continued growth across our diverse investments, giving us a market advantage over other companies looking to enter our industry. The hemp-derived CBD oil market has boomed in recent years, hitting $130 million in 2016, and is expected to grow to $450 million by 2020. The total CBD industry is projected to reach $2.1 billion in the same time frame. Medical Marijuana, Inc. is well positioned to lead the CBD market with our diverse holdings across the hemp industry.
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