From the Wires
Medical Marijuana Inc. Reports Third Quarter 2012 Revenue and Income Quarter Over Quarter Increase Of Over 1500 Percent From Same Period Last Year
By: PR Newswire
Nov. 15, 2012 08:45 AM
SAN DIEGO, Nov. 15, 2012 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), a leading cannabis and hemp industry innovator, today announced its third quarter earnings. The company earned net income of approximately $1.19 million on gross revenues of $3.00 million for the quarter ended Sept 30, 2012. This represents a gross revenue increase of 1500 plus percent quarter-over-quarter when compared to revenue of $198,813 for the quarter ended Sept 30, 2011.
Operational and development highlights
Operating highlights of the quarter were as follows:
In addition, since the close of the third quarter, Medical Marijuana, Inc. has:
"We are very pleased with our overall quarterly results. It's a testament to the team's hard work, diligence and preparation," said Michelle Sides, Chairman of Medical Marijuana Inc.
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.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company's website at: www.MedicalMarijuanaInc.com.
Investor Relations Contact:
SOURCE Medical Marijuana, Inc.
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