November 30, 2016 - By Darrin Black
Medical Marijuana Inc (OTCMKTS:MJNA) recorded its first decline, in approximately 1-week, during yesterday’s trading session. The stock recorded a trade volume of 13.23 million and a decline of 3.99% in share value, during the November 29 trading session, to close at $0.113 per share. MJNA has been a lot in the news lately, filing press releases on a regular basis. This has been attracting significant attention from the investors. As such, it is expected that the stock would continue to record gains, in the short-term.
Yesterday, the company announced that its major investment company, Axim Biotechnologies, Inc (OTCMKTS:AXIM), has filed an IP application, with the World Intellectual Property Organization, for its proprietary method of THC extraction. The method is being used by Axim to extract THC acid from cannabis plants, while also achieving a higher level of purity, in THC extraction, as compared to conventional methods. In its announcement, the company revealed that the proprietary method is capable of extracting a THC yield with purity higher than 95%. Moreover, the THC-A yield from the flower, using the IP, is between 50% and 70%. It should be noted here that Axim had initially developed the IP with assistance from Syncom B.V, based in Netherlands.
“We are extremely excited to see that AXIM has filed this IP it as it represents the first stage of a chain of processes in development of novel and revolutionary drug products all based on AXIM’s propriety IP,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “This extraction method will change how THC can be utilized in products in the future and open up new possibilities for the industry as a whole.”
He continued, “The THC purity level that AXIM is able to achieve through this invention will untimely represent a milestone achievement in the standardizing of cannabis based products. With roughly 440 marijuana strains in existence with varying levels of cannabinoids, trying to make this into a standardized medicine has represented a real challenge for the research community. Now AXIM has overcome these hurdles and we believe this will allow for future cannabis based drug development opportunities.”
In addition to this, MJNA has also revealed that its subsidiary, HempMeds Mexico, has begun shipment of its RSHO-X products to Colombia. The company has stated that this opens a whole new multi-billion dollar market for its CBD products. It should be noted here that HempMeds already caters to the Brazilian and Mexican markets. On the other hand, the Colombian government is in the process of reviewing its policy, with respect to hemp regulations. The government has realized that RSHO-X offers a non-psychoactive solution, as opposed to high-THC marijuana products.
Medical Marijuana operates in a number of countries, through its subsidiaries, but more recently has been focused on the market in Latin America. This strategy is expected to provide the company with significant, yet quick returns, as only a few players have recognized the market potential in this region. Moreover, in some countries, like Mexico, MJNA’s products are the only cannabis based treatments, available to patients.
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By Darrin Black