Medical Marijuana, Inc. Reports 2020 Third Quarter Financial and Operational Results; Reports Positive Adjusted EBITDA and Net Income of $12.2 MillionPosted by MMP News AuthorOn November 17, 2020

/EIN News/ — SAN DIEGO, Nov. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today financial results for the quarter ending September 30, 2020, and provided an overview of recent operational highlights.

Third Quarter 2020 Financial and Operational Highlights

• Generated $12.2 million in net revenue in the third quarter of 2020, an 11.25% increase when compared to the previous quarter in 2020;
• Positive adjusted EBITDA of $175,755
• Gross profit for the period ending September 30, 2020, was $9.1 million;
• GAAP Sales and Marketing expense decreased as a percentage of sales from 51.9% in the second quarter of 2020 to 49.3% in the third…