Kannaway, the direct selling division of Medical Marijuana, announced the acquisition of eXfuse, LLC, dba KZ1, a Japan-based network marketing company. This acquisition is expected to add approximately 1,450 distributors to the company’s sales force in Japan, which the company believes will be a benefit as it ramps up its business in the Japanese market. […]
Medical Marijuana, Inc., parent company of direct selling brand Kannaway, announced it has entered into an Asset Purchase Agreement with MFINITY, Global, LLC, a direct selling organization that promotes natural health.
Kannaway, the direct selling subsidiary of Medical Marijuana, Inc., has been included in the list of brands who have submitted Novel Foods applications to the UK Food Standard Agencies (FSA). Brands included on this list may continue to market their products within the UK, while those who were excluded must discontinue sales. These Kannaway cannabidiol […]
After a series of record-breaking revenue months in key markets, Medical Marijuana, Inc. has satisfied and retired two of three major outstanding debt liabilities. This now eliminates more than $10 million of principal debt from the company’s balance sheet, with only one remaining promissory note outstanding. The company’s laser focus on international expansion has paid […]
Kannaway, the direct selling subsidiary of Medical Marijuana, Inc., announced that its Japan and South Africa divisions reached their largest revenue month in company history during January 2022.
Leading this expansion will be Duduzile Mathole, a direct selling industry veteran with experience in the local and regional regulations of South Africa regarding cannabis, who has been hired as Country Manager, South Africa.
The manufacturing subsidiary for Medical Marijuana, Inc. also experienced its largest revenue month in the division’s history.
The company’s net income and net revenue increased 8% and 86% respectively year-over-year. Net revenue totaled $9.6 million for the quarter while net income reached $7 million. Gross profit for the quarter was $5.6 million.
Medical Marijuana announced that its subsidiaries HempMeds Mexico, Kannaway Japan, as well as its third-party manufacturing and distribution business, each achieved their largest revenue months in their respective histories in July 2021.
Medical Marijuana, the parent company for HempMeds, announced it has welcomed five-time Brazilian national wrestling champion and professional UFC fighter Raoni Barcelos as a company spokesperson.
Medical Marijuana, Inc., parent company of direct selling company Kannaway, released its 2020 year-end financial report. Gross margins for the company increased from 76% in 2019 to 80% in 2020 and net revenue for 2020 reached $46.9 million. Cash on hand at the end of 2020 was $5.7 million. The company also released year-end 2020 […]
Medical Marijuana, Inc., the parent company of HempMeds®, announced that Italo Penarrubia will be a brand ambassador for the company. Penarrubia is an X Games world record-holding skateboarder. “We are excited to bring Penarrubia on as a part of our team and it is heart-warming to know how much our products have helped him over […]