Shares in Medical Marijuana, Inc. (PINK:MJNA) closed up 36.16 percent in Friday stock trading.
These are high times for Medical Marijuana investors, who have seen the value of their shares go up more than 1,000 percent over the past 12 months.
At Friday’s closing, the company’s market value had climbed to $225 million.
"The company earned net income of approximately $3.39 million on gross revenues of $5.1 million for the quarter ended Dec. 31, 2012," the company reported in January. "This represents a gross revenue increase of over $2 million compared to the prior quarter ended Sept 30, 2012. When compared to the same quarter ended Dec. 31, 2011 this represents revenue increase of $4.5 million and over 1,100 percent."
The San Diego-based company says it is “vested in the medical marijuana and industrial hemp markets. The company is comprised of a diversified portfolio of products, services, technology and businesses solely focused on the cannabis and hemp industries."
"Cannabis has over 55,000 known uses from medicinal to industrial applications such as concrete, building materials, textiles, animal feed, fuel as well as a food which millions of people a day enjoy," according to the company. "What both of these species have in common is that they are grossly underutilized and misunderstood."