Medical Marijuana Inc (OTCMKTS:MJNA) continues to flash signs of a comeback underway. The stock likes to advertise its status as an original player in the publicly-traded cannabis space, but 2017 hasn’t been an especially great year for its shareholders despite huge and widespread gains in the industry’s aggregate market cap during the same period. However, we have been seeing some positives emerge from the company in recent months.

The latest from the company contributes to that sense and comes in the form of its announcement that its subsidiary, HempMeds Mexico, generated its largest-ever single month revenue total during the month of November of this year. As noted in the release, HempMeds Mexico is Medical Marijuana, Inc.’s distribution branch in the country, focusing on providing non-psychoactive cannabidiol products to the people in Mexico. The company also pointed out that HempMeds Mexico was the first company to have a medical cannabis product approved for import into Mexico, a country that is in the process of restructuring their policies regarding cannabis.

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.”

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As discussed above, we have seen some positive signals for MJNA over the last couple of months. It should be noted that we were continually bearish on the name during the first 10 months of the year. We pointed to its stalled operations and shaky credibility – who maintains a pink sheet status and refuses to publish audited results, despite claims of nearly $20 million in revenues. That is an oddity that still stands out to us.

That said, we like the company’s international diversification and recent move to focus communications on more substantive concepts.

“Our success in Mexico is tremendously important to the Medical Marijuana, Inc. portfolio of companies as we continue to expand our international reach,” said HempMeds Mexico President, Raul Elizalde. “Mexico has experienced many CBD regulation changes this year and we’re proud to come out of them on top.”

The chart shows 12% piled on for shareholders of the name during the trailing month, but this action is running counter to the larger trend in the name. That said, MJNA has a track record that includes a number of dramatic bounces. In addition, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 68% beyond its prior sustained average level

Now commanding a market cap of $334.2M, MJNA has a chunk ($1.2M) of cash on the books, which is balanced by about $814K in total current liabilities. MJNA is pulling in trailing 12-month revenues of $19.7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 255.6%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.