{"id":383015,"date":"2020-11-17T09:03:26","date_gmt":"2020-11-17T14:03:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383015"},"modified":"2020-11-17T09:03:26","modified_gmt":"2020-11-17T14:03:26","slug":"medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\/","title":{"rendered":"Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million"},"content":{"rendered":"<div class=\"mw_release\">\n<p>SAN DIEGO, Nov.  17, 2020  (GLOBE NEWSWIRE) &#8212; via <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MIOZXAvhvFz9HMLKHDzG7BY--4k9ccwdqjHWFUzh0A2h18OFsO5C9t1IsZsS1fHF9D35GrmIiXfzHER4ZeumCZOomx0VatcnGsHZYtPpO1g=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>NewMediaWire<\/u><\/a> &#8212; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=myR_jzEfiel87rNPf-LKEonEFnR22sxLBPSnNGJ2v16F5OlwyiHTKZ4rV4FSA-yBMCaARKvzJXVwfM9lyNqty1hePZ65GDrXNAHu77t0yc03ltLwzaQ_audxpJLyYsic\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Medical Marijuana, Inc.<\/u><\/a> (OTC: MJNA) (the \u201cCompany\u201d), the first-ever publicly traded cannabis company in the United States that launched the world&#8217;s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights.<\/p>\n<p>Third Quarter 2020 Financial and Operational Highlights<\/p>\n<ul>\n<li>Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020;<\/li>\n<li>Positive adjusted EBITDA of $175,755<\/li>\n<li>Gross profit for the period ending September 30, 2020, was $9.1 million;<\/li>\n<li>GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in the second quarter of 2020 to 49.3% in the third quarter of 2020;<\/li>\n<li>New Ordinary Loss decreased by $.41 million when compared to second quarter of 2020<\/li>\n<li>The Company\u2019s subsidiary\u00a0<a href=\"https:\/\/hempmedspx.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">HempMeds\u00ae<\/a>\u00a0launched a retail partnership with Gelson\u2019s Market to sell the Company\u2019s cannabidiol (CBD) topical and beauty products throughout Southern California;<\/li>\n<li>The Company\u2019s investment company Kannalife, Inc. (\u201cKannalife\u201d) (OTCQB: KLFE), now known as\u00a0<a href=\"https:\/\/neuropathix.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Neuropathix, Inc.<\/a>\u00a0(OTCQB: NPTX), was granted patents in 16 European territories and Canada;<\/li>\n<li>Promoted Todd Morrow to Chief Financial and Information Officer and the Company\u2019s co-founder Michelle Sides, Esq. as the Company\u2019s Chief Legal Officer;<\/li>\n<li>Hired financial executive Robert A. Wells as Vice President of Finance;<\/li>\n<li>The Company\u2019s subsidiary\u00a0<a href=\"https:\/\/www.kannaway.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Kannaway\u00ae<\/a>\u00a0began recruiting CBD users to participate in the ValidCare CBD safety study;<\/li>\n<li>Expanded its production and warehouse facility to keep up with demand, further vertically integrating the Company\u2019s supply chain, enabling broader product R&amp;D and internal manufacturing;<\/li>\n<li>The Japanese division of the Company\u2019s subsidiary Kannaway\u00ae had its best revenue month ever in Company history in August 2020;<\/li>\n<li>The Company\u2019s CEO Dr. Stuart Titus was honored with a Gold Stevie\u00ae Award for Executive of the Year \u2013 Food &amp; Beverage, HempMeds\u00ae was awarded a Gold Stevie\u00ae Award for Consumer Products \u2013 Food &amp; Beverage, Kannaway\u00ae CEO Blake Schroeder was honored with a Silver Stevie\u00ae Award for Maverick of the Year and Kannaway\u00ae earned a Bronze Stevie\u00ae Award for Achievement in International Expansion;<\/li>\n<li>In the 2020 World CEO Awards, the Company\u2019s CEO Dr. Stuart Titus was named a Bronze Award winner for Top CEO of the Year \u2013 The Visionary and Blake Schroeder, CEO of the Company\u2019s subsidiary Kannaway\u00ae, was honored with a Silver Award for Top CEO of the Year;<\/li>\n<li>Became the first company to reach a two-year milestone in high-level CBD hemp oil stability study through long-term stability testing on its flagship THC-free CBD oil product Real Scientific Hemp Oil-X\u2122 (RSHO-X\u2122).<\/li>\n<\/ul>\n<p align=\"start\">\u201cIt\u2019s encouraging to see our costs, specifically in the area of sales and marketing, decrease while our sales increased in this quarter when compared to the previous one, and a positive adjusted EBITDA,\u201d said Medical Marijuana, Inc. CEO Dr. Stuart Titus. \u201cWe feel very optimistic about finishing out the year strong, with consumers interested in wellness at an all-time high headed into the holidays. Additionally, we are very optimistic about the overall landscape with so many states entering the cannabis industry through recently passed legislation, signaling that the stigma for the entire plant, including hemp, is diminishing.\u201d<\/p>\n<p> &#8220;Our international expansion is forging ahead with full force and we will continue to further establish our Company\u2019s products as the best available to consumers throughout the world,&#8221; said Medical Marijuana, Inc. COO Blake Schroeder.<\/p>\n<p> Financial Data: Third Quarter 2020 as Compared to Second Quarter 2020<br \/> (in thousands)<\/p>\n<p align=\"start\">Gross Revenue:<\/p>\n<p align=\"start\">Q3 2020 \u2013 $12,221<\/p>\n<p align=\"start\">Q2 2020 \u2013 $10,986<\/p>\n<p align=\"start\">Cost of Goods Sold:<\/p>\n<p align=\"start\">Q3 2020 \u2013 $3,084<\/p>\n<p align=\"start\">Q2 2020 \u2013 $2,234<\/p>\n<p align=\"start\">Net Income\/(Loss):<\/p>\n<p align=\"start\">Q3 2020 \u2013 ($106)<\/p>\n<p align=\"start\">Q2 2020 \u2013 $9,699<\/p>\n<p align=\"start\">Net Ordinary Income\/(Loss):<\/p>\n<p align=\"start\">Q3 2020 \u2013 ($857)<\/p>\n<p align=\"start\">Q2 2020 \u2013 ($1,274)<\/p>\n<p align=\"start\">About Medical Marijuana, Inc.<\/p>\n<p align=\"start\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=s2NvntGcluaIXN6FGcqFty4F-_IY4_awFevvYXgCsT2T1VxqztKT9vR9-1IohGi1cpD3IdHL1FFJjwzOzpmURfwQ00MoqU6JVOEVHk3R0c-DPizdFA53p6natZK4nLMud8araZWFbJeQt923ef4ywisOdQbsT8LBwkUgFzSwWQ0=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">We are a company of firsts\u00ae<\/a>. Medical Marijuana, Inc. (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=3UEbMQRq80C6UcMAe-TA8hlG4leDmC28Pc0E8HxENZDsz_BxZHQjWOiWHizh0W5QIPCCPWGWWD00-QTW0MK8jEgvsXszd_Q8JeVirzRefvk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">MJNA<\/a>) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ixeBb25yDE7NQLqUAuD4AmtFgPmxe_pXea76Im0xvbg6i3VpAigYKoKaz2m6NXp7WQEzF2UgB5eBvyA_uBwU5Q==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Kannaway\u00ae<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=V4B4ArGD_MKgQ2CFs1UdGBP9Q_ABWt4uywEOmNly_FBPG5lgdh3Sy52-13R5LS7XfoP6P64BwUAVlUqzwVaItQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">HempMeds\u00ae<\/a>; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JIb815bgIAguRf6CheXbbuiXQz8T5vMqo8B-gmHDxv3I7pRDGNChiJJ9nzKohFAhVs7lDsAeEV7UsXUQhwTRTxg5EeOszhuJHkDFkeWjqR4=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">\u00a0AXIM\u00ae Biotechnologies, Inc<\/a><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DgF19THSpC0B46WZD_mkhU_e1SxsEdtsYjkYm2Dc0nHuq3aqVlUY46-OJRVBV4jgYVljcuzfYzdSON1FAeYMq5FMGi-eyVlWZoGIO5G-NDRSjuX8xAZ4XxVNLof6mC35TmL-iJIVN5kS09DzlVT5ElBo93RRfiwvcyGQ34wJQlRJu_ILdBehd_vlNkXyfQe0UPgdqRFmEYgQf_i5i7d8G3xT71Lj6RKbD9fPSTl76xDytECg3tnAA30IMnetUGHWwmD0GGCNSdlStH38Mg5h_WzJuqZZd6Yk7hBvB21dcVnGVR7dLzV0P4xyrMv626knPkyH-a2kXHdjFN5jhe8jefjL3sIqYvOi7evPP8nXCzuNhj8bRdtAgHBLUgOppXsPPe0GMw8W4f8f9NCItQyfN2hUi2YvmqBXjOgKWa71r3aEx6JPoNj4y_h1goNGOF3RRSCg31xcMhbPuhxSCfxnElvu_mTNzWGPMZ_L2nyhkOk42ePgkyQwOLH6fYyG7ZN_nPSRhEFXBoRzsnYJr6GHPr6lYVz4nDdKv1mAcYTxjF53Pi4my75bZjunjBNcTKcQcXdhaoH8o-02uXHI3McyVdh6zlHw4MfdtfcNpYie07zAIPUm_IrKg71rnhAGG9B-ADu39oPL6OWezg7vDkg1gUJv23QxzHgEzC1shIYaodNysqOmeIKskZjMyAe_tKiU1A_Wl44lH07wk5BruJiQcKZ9JP2mEx24cOB2mojI4EA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">.<\/a>\u00a0and<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=jnviy6n_GW-4r_xqxPejrMt5MXRySkNLDTccQxaOCBC-Yz4TxkkZVt-h72HciVGIvwC_OQHeL4HXF1VjptF7U1JhwyUZWvNkBa8nuMU1XOU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">\u00a0Kannalife, Inc<\/a>. Medical Marijuana, Inc. was named a top CBD producer by\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=2p3DTgvGl118Ygdm5_ZfsGEPlFbN9L0H7L_P5OBNCmUv7OPiZ9ETaD1H9Zpt3rJEDpDh9_yvxZU-E0q_hEwxI0i4pbTnK0QjSvmOQr84LsrYNGnt0coawzTxNaZuyHYtM1aoEhQ1RfeF0PIsRo68oF8cUjanWkUdxOyXkLGYMu-oRk_YrRMtP2oC-mOGb_EC\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">CNBC<\/a>. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company\u2019s flagship product\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=JZN4HxclV1gWjaV8s7hKmrHngtdJWxVA2h6-ivlQXEr6a59brD3YuhxMBPjLJlnwEvuRPzB-ZAQx7IMBP4cvzdrUZkyl4Ic_JWbMlE5dJAgudEaf4Z6Dluz5Rb4ezchQ\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Real Scientific Hemp Oil<\/a>\u00a0has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.\u00a0<\/p>\n<p align=\"start\">Medical Marijuana, Inc.\u2019s headquarters is in San Diego, California, and additional information is available at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=srvgjsiGjuwNlQ3DksgpmS1J2Zs2YVtm0yzsi7mcMZzufbR7-qRSMdoglihdVvgYl8BraI5KzELl9Oi-wjdsnbE-P9d93spwVQJLZs-JXvk=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">OTCMarkets.com<\/a>\u00a0or by visiting\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=W3JvWotJ7etXlJV3bwU1kNCp4X3RjGd3yzTM4cbJzRJWrllzzkAeEuqOYXiJDpoapRzYlkYYmryt3En0rzPGdd4hnYKgE1mPO1l-kF4-LG6zsoKVPL0UEW_lOeLH6Vdu\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.medicalmarijuanainc.com<\/a>. To see Medical Marijuana, Inc.\u2019s corporate video,\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=X2IcnDxIAjwFn6vDbwLJsY4U6Cvrd08p3EjMRimjdWygb3JZL0BxehnsdvJgq9-JIka9ex2ZG5YKjD60rwLXQ5yGMiJwKt8c-hXrKeufkYQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">click here<\/a>.<\/p>\n<p align=\"start\">Shareholders and consumers are also encouraged to buy CBD oil and other products at Medical Marijuana, Inc.\u2019s shop.<\/p>\n<p align=\"start\">ADJUSTED EBITDA CALCULATIONS<\/p>\n<p align=\"start\">Adjusted EBITDA is defined by the company as EBITDA (net income (loss) adjusted for interest income\/(expense), income taxes, depreciation and amortization), further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.<\/p>\n<p align=\"start\">A reconciliation from our net income \/(loss) to adjusted EBITDA, a non-GAAP measure, for the quarter ended\u00a0September 30, 2020<\/p>\n<p align=\"start\">Period Ending September 30, 2020<\/p>\n<ul>\n<li>Net Income (loss) \u2026 ($106,713)<\/li>\n<li>Interest Expense \u2026 $267,177<\/li>\n<li>Interest Income \u2026 ($101,400)<\/li>\n<li>\n          <u>Depreciation\/Amortization\u2026 $116,711<\/u><\/p>\n<ul type=\"circle\">\n<li>Adjusted EBITDA \u2026 $175,755<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p align=\"start\">FORWARD-LOOKING DISCLAIMER<\/p>\n<p align=\"start\">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.<\/p>\n<p align=\"start\">FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE<\/p>\n<p align=\"start\">These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.<\/p>\n<p align=\"start\">LEGAL DISCLOSURE<\/p>\n<p align=\"start\">Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.<\/p>\n<p align=\"start\">CONTACT:<\/p>\n<p align=\"start\">CONTACT:<br \/> Public Relations Contact:<\/p>\n<p>Kathryn Brown<br \/> Account Supervisor<br \/> CMW Media<br \/> P. 858-264-6600<br \/> kathryn@cmwmedia.com<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xZvfYJXfwtu8KvAEqrRz28RkxBwq827KJW7oFdCy8udPJNJWN8dpLU_yPTXblzKYB7zZPWJUHt3scErB9uBZYewoGG5S8LZ_ff8bydQsQ9c=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.cmwmedia.com<\/p>\n<p><\/a>Investor Relations Contact:<br \/> P. (858) 283-4016<br \/> Investors@medicalmarijuanainc.com<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NzM1NSMzODMwODY5IzUwMDA3MjkzMg==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/82c1f70a-f2cc-4259-b548-078ef5c8c43a\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Medical Marijuana, Inc. (OTC: MJNA) (the \u201cCompany\u201d), the first-ever publicly traded cannabis company in the United States that launched the world&#8217;s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights. Third Quarter 2020 Financial and Operational Highlights Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020; Positive adjusted EBITDA of $175,755 Gross profit for the period ending September 30, 2020, was $9.1 million; GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-383015","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Medical Marijuana, Inc. (OTC: MJNA) (the \u201cCompany\u201d), the first-ever publicly traded cannabis company in the United States that launched the world&#8217;s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights. Third Quarter 2020 Financial and Operational Highlights Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020; Positive adjusted EBITDA of $175,755 Gross profit for the period ending September 30, 2020, was $9.1 million; GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in &hellip; Continue reading &quot;Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-17T14:03:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4NzM1NSMzODMwODY5IzUwMDA3MjkzMg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Medical Marijuana, Inc. 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Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/medical-marijuana-inc-reports-2020-third-quarter-financial-and-operational-results-reports-positive-adjusted-ebitda-and-net-income-of-12-2-million\/","og_locale":"en_US","og_type":"article","og_title":"Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 Million - Market Newsdesk","og_description":"SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) &#8212; via NewMediaWire &#8212; Medical Marijuana, Inc. (OTC: MJNA) (the \u201cCompany\u201d), the first-ever publicly traded cannabis company in the United States that launched the world&#8217;s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights. Third Quarter 2020 Financial and Operational Highlights Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020; Positive adjusted EBITDA of $175,755 Gross profit for the period ending September 30, 2020, was $9.1 million; GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in &hellip; Continue reading \"Medical Marijuana, Inc. 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