Medical Marijuana Inc (OTCMKTS:MJNA) is a stock we have been quite sour on over the past 6 months. However, MJNA has been beaten up enough at this point, and we are ready to start focusing on what is working here. For starters, the company is the main stock market brand of the MMJ space. This is the longest-running publicly traded player in the space, and it is also the company that has most effectively expanded beyond the borders of North America. As a case in point, the company recent updated its Brazilian operations.

As announced this week, the company’s subsidiary HempMeds Brazil has gained media attention in Brazilian newspapers after a Federal judge there ordered the government to subsidize payments for Real Scientific Hemp Oil (RSHO) for a Brazilian citizen. According to the article, the Federal Regional Court of the 4th Region (TRF4) ordered the Union and the state of Santa Catarina to subsidize payments for RSHO for a Florianópolis merchant.

Medical Marijuana Inc (OTCMKTS:MJNA) casts itself as an investment holding company that operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high-value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries.

MJNA’s subsidiary, Kannaway, LLC, is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. Kannaway currently hosts weekly online sales meetings and conferences across the United States, offering unique insight and opportunity to sales professionals who are desirous of becoming successful leaders in the sale and marketing of hemp-based botanical products.

MJNA licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry. It engages in the research and development of cannabinoid-based pharmaceuticals; and marketing and distribution of cannabidiol hemp oil-based products.

In addition, MJNA provides management support and services to cooperatives, collectives, health and wellness facilities, and medical clinics; and consulting and securities services to businesses and individuals in the legal cannabis industry. Further, it focuses on the treatment of pain and other medical disorders with the application of chewing gum-based cannabis/cannabinoid medical products.sportswear and more.”

Find out when $MJNA reaches critical levels. Subscribe to Right Now by entering your Email in the box below.

As noted above, we have been successfully short-biased on this stock on the way down in its bearish trend of recent months. But we also recognize there may be real value here at this point given the growth trajectory inherently a part of the MMJ space. The company is also perhaps the most successful international mover in the space, establishing real operations in Brazil. Its latest update on that segment offers renewed perspective.

The company points now to an article appearing in the Brazilian press that highlights more positives for its operations there. The article states that: “The trader appealed to the court, arguing that the use of the drug is essential, that efficacy is proven in such cases and that the right to health is fundamental and guaranteed by the Constitution. The court’s rapporteur, federal judge Rogerio Favreto, stated in his vote that the interference of the judiciary in drug applications, even if it is an exception, should occur if the patient’s need is proven. The judge pointed out that in the case under analysis the urgency is evident and has been proven by medical expertise.”

“We continue to be impressed and humbled by the amazing, historic gestures by the judicial system and federal government regulators in Brazil acting in the best interests of the health and wellness of the Brazilian people,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “This amazing progress in the Brazilian courts reaffirms our mission to keep educating the world about the beneficial nature of hemp-based cannabidiol (CBD) products such as RSHO.”

Earning a current market cap value of $221.5M, MJNA has a reserve ($755K) of cash on the books, which compares with about $808K in total current liabilities. MJNA is pulling in trailing 12-month revenues of $14.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 230.5%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $MJNA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MJNA, either long or short, and we have not been compensated for this article.