Medical Marijuana (MJNA) $0.115. Today announced its third quarter earnings. The company earned net income of approximately $1.19 million on gross revenues of $3.00 million for the quarter ended Sept 30, 2012. This represents a gross revenue increase of 1500 plus percent quarter-over-quarter when compared to revenue of $198,813 for the quarter ended Sept 30, 2011.
Operating highlights of the quarter were as follows: Completed the integration of Dixie Elixirs & Edibles brand. Developed and launched the Dixie X, Hemp based CBD wellness products. Dixie X is now available for purchase online. The company has completed its wholesale product launch for the specialty cannabis and hemp retail markets in the US. Launched Dixie X compassion care club. Successfully planted and harvested its hemp crops for the production of its high value hemp CBD oil.PhytoSPHERE Systems sold its first batch of commercialized hemp CBD Oil. Expanded PhytoSPHERE systems production capabilities to meet 2013 supply demands for its CBD hemp oil.
Identified and developed additional cultivars to expand portfolio of high value hemp oils for deployment in 2013. Completed integration of CanCHEW Bio-Technologies. Produced CanCHEW Bio-Technologies first batch of marketable GMP manufactured CBD based over-the-counter (OTC) functional chewing gum. CanCHEW Bio-Technologies identified European clinical development path for its patented cannabinoid based functional chewing gum. European clinical trials expected to begin 2013. Formed Canipa Holdings, for European product expansion.
Identified several potential acquisition and investment opportunities in established cannabis and hemp based businesses. Signed closing docs for Lotus Capital $2.0 million line of credit. Negotiated additional $15.0 million institutional line of credit.
In addition, since the close of the third quarter, Medical Marijuana, Inc. has: Produced over 365 million milligrams of hemp CBD oil for MJNA product sales. Negotiated the purchase of key international hemp product development, manufacturing, sales and marketing brand with 30 plus consumer products in market today. Expected to close 4 Q 2012. PhytoSPHERE Systems has expanded its portfolio of products to include different cbd concentrations in its hemp oil.
What They Do: MJNA's mission is to be the premier cannabis and hemp industry innovators, leveraging its team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
OncoSec Medica (OTCBB: ONCS) $0.38. Today announced positive preliminary results from a Phase II trial investigating the use of ImmunoPulse in metastatic melanoma patients at the 6th World Meeting of Interdisciplinary Melanoma Skin Cancer Centres & 8th EADO Congress. This preliminary interim analysis of 13 out of 25 patients supports key findings from a Phase I trial suggesting that ImmunoPulse is able to induce regression or stabilization of distant untreated metastases following a single cycle of treatment.
A total of up to 25 patients with stage III or IV cutaneous and in-transit metastatic melanoma will be enrolled in this Phase II, single-arm, open-label and multi-center study. The trial was designed to assess local and distant objective response following treatment of cutaneous melanoma lesions with ImmunoPulse. As per the protocol, a preliminary interim analysis was scheduled upon completion of 50 percent enrollment in the study.
The purpose of the analysis was to confirm safety and efficacy observed in the Phase I study. At the time of this preliminary interim analysis, 13 patients were enrolled and treated. Thirteen subjects were evaluable at Day 39, nine at Day 90, and two at Day 180. Ninety-five percent of treated lesions demonstrated response at Day 39 (5 percent progressive disease, 14 percent stable disease (SD), 42 percent partial response (PR), 39 percent complete response (CR)). All treated lesions at Day 90 (5 percent SD, 50 percent PR, 45 percent CR), and at Day 180 (33 percent PR, 67 percent CR) demonstrated a response. At Day 180, two subjects were evaluable for the primary endpoint of objective overall response (ORR). One patient has a confirmed stable disease, and the second patient has a confirmed complete response of all treated and untreated lesions. Analysis of the safety data for the subjects analyzed confirms that intratumoral administration of DNA IL-12 with electroporation is safe and well-tolerated. No related adverse events reported were greater than grade 2, and were generally limited to transient pain related to electroporation treatment.
What They Do: OncoSec Medical Inc. is a biopharmaceutical company developing its advanced-stage ImmunoPulse DNA-based immunotherapy and NeoPulse therapy to treat solid tumors.
Intertainment Media (TSX Venture: INT) $0.15. Announced yesterday that it is launching a marketing services solutions initiative to service, scale and monetize its inroads within the entertainment, sports, celebrity and e-commerce industries. With global partner brands that include KISS, Disney, Daughtry, Dreamworks, Fox, IndyCar, Live Nation, The Barclays Center and Marvel, to name a few, the new solutions will focus on growing this segment as well as looking to deliver world class production solutions for existing, and newly acquired, tier one brands. The solution offering will leverage Ortsbo''s developed technology for global language applications as a "powered by Ortsbo" ingredient in the offering.
The global live music and entertainment industry is poised to exceed $1.25 trillion by 2016 according to Strategy Analytics, and like many, it will see a steady decline in the English only online viewing segment which is currently at 27% according to Internet World Stats, which now counts over 2.1 Billion persons. Challenges with translation and localization cost US firms an estimated $50B in potential sales, according to the US State Department and providing solutions that remove communication barriers across the internet is an inherently valuable proposition. The Intertainment business solutions enterprise will be strategically positioned at the intersection of language and commerce to capture a significant share of this burgeoning market place.
What They Do: Intertainment is one of Canada''s leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com.
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