Recent Developments In Cannabis Stocks

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Includes: AMMJ, ERBB, HEMP, MJNA, PHOT
by: FX Metrix, LLC

Summary

We started following a handful of cannabis related companies as the 2016 election gets closer. Marijuana reform will be a big item on the ballot in many states.

There have been a few developments in the past few days that we wanted to update readers about regarding MJNA, PHOT, HEMP, ERBB, and AMMJ.

Updates ranging from SEC action to new subscription services show that this industry may be worth watching.

Introduction

There have been some developments in a handful of cannabis related companies in the past few days. This will be an interesting industry to watch as there are a reported 20 states with marijuana reform on the ballot this November.

Medical Marijuana, Inc. (MJNA)

The Mexican government has approved 22 more import permits for MJNA's CDB oil product to treat mostly cases of epilepsy. This will be on our radar as more updates come out regarding the changes to the original marijuana reform bill in Mexico, due for a new vote in September.

GrowLife, Inc. (PHOT)

A few days ago, PHOT announced a new subscription service targeted towards new indoor cultivators. This service offers start-up equipment as well as ongoing supplies to up-and-coming growers. This could offer an additional revenue stream for PHOT.

Hemp, Inc. (HEMP)

A week ago, the SEC charged HEMP, its CEO, and other affiliated persons of various manipulation tactics with the stock. While the stock has not been halted, we will keep investors posted on any updates on the matter.

American Green, Inc. (ERBB)

ERBB announced today that they would begin seeking testers for their new American Green Xpress mobile phone app. They plan to use this app within the American Green network of dispensaries as well as well as license the technology to third parties.

Ammerican Cannabis Company, Inc. (AMMJ)

Today AMMJ announced that they received a new contract to provide operations consulting and design services for a new facility as well as future facilities including both medical marijuana cultivation as well as manufacturing of infused products. This new client should provide a boost to AMMJ's revenues.

Conclusion

Nearing this year's election, we will be keeping this growing industry on our radar. We will be sure to update readers on any movement we see happening within the industry.

References

"At least 20 states could vote on marijuana legalization in 2016"

"20 states report pot legalization measures in 2016 election"

"Medical Marijuana, Inc. Receives 22 More Permits to Export Into Estimated $10-12 Billion Market in Mexico"

"Introducing GrowLife Cube, Annual Subscription Supplies Service"

"SEC Charges Hemp Inc. and CEO Bruce Perlowin with Fraud"

SEC HEMP Complaint

"ERBB Seeking Testers for American Green Xpress Phone App"

"American Cannabis Company Inc. Announces New Contract for Colorado Based Medical Cannabis and Infused Product Facility Design and Operational Consulting"

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.