Dr. Stuart Titus, CEO Of Medical Marijuana Inc., Talks About Running "A Company Of Firsts"
By Nick Hilden | Mar 7, 2017 | C-Suite, Cannabis Investing
Dr. Stuart Titus is the CEO at Medical Marijuana Inc. (OTC: MJNA, OTCMKTS: MJNA), which has been pushing the boundaries of the medicinal space for nearly a decade. The company produces a range of hemp CBD oil products.
For starters, what makes your company different from others in the cannabis space?
We are a company of firsts – we were the first public company in the space in March 2009, the first to develop a natural botanical hemp-based CBD nutritional supplement, the first to legalize a cannabis-based product into a Latin American country (Brazil, April 2014), the first to legalize a cannabis based product into Mexico, and the first to develop a cannabis based product that qualifies for World Anti-Doping Standards.
How did you get into the cannabis space?
I entered this space via my physiotherapy career – I saw numerous athletes using cannabis to relieve pain, control inflammation, or just to help “get into the zone”. So I started attending medical cannabis symposiums to see if there was any real science behind this, and my eyes were opened to a new world of cannabis-based therapeutics.
Walk us through a normal day.
It starts with meetings with sales associates followed by meetings with management on product innovation, formulation. Next, media requests and developing presentation materials, then reading up on the latest clinical studies. From there I check the performance of our stock, our pharma partner’s stock, and other stocks in the space. Then I look at our international business, look at methods of streamlining out existing business, and work with our main investors and financiers to develop improved laboratory operations. This often involves discussing product formulations with existing and potentially new formulators. Some days involve participating in board meetings, preparing quarterly financial reports, speaking on company conference calls and representatives’ podcasts, and speaking with doctors interested in CBD.
What has been your biggest lesson about working in cannabis, and in business in general?
When it comes to business in general, extraordinary patience can be a virtue. As far as cannabis goes – never take anything for granted
What do you see as your biggest opportunity?
To revolutionize neurological medicine, educate doctors as well as lay people about the therapeutic benefits of cannabis, change the way we think about cannabis, develop a national dialogue regarding cannabis, and – on a personal note – to retire someday.
Do you have any thoughts or concerns about Sean Spicer’s statements indicating the Administration’s intention to crack down on recreational cannabis?
None at all, I consider it a smokescreen to distract from other happenings.
What sets you apart to make you a potential leader in cannabis?
My in-depth knowledge of the science and research, and that we are actually doing it. We currently have two divisions in pharma development, and are the first to do so.
What is the most frustrating aspect of the cannabis industry today?
Everyone wants to make a quick nickel instead of a slow dollar
What would you say to those who are considering investing in your company?
We are a diversified portfolio company with 4 divisions in nutraceutical sales. We have two investment companies in pharmaceutical development. The trends toward legalization of cannabis are unmistakable. The international acceptance of cannabis and CBD products is growing. The ability to grow hemp here in the US is a compelling business opportunity. With legalization, our company plans to enter into the THC space. We would potentially have multiple sources of revenue in the future. There is excellent investor interest in the space at this time.
What are the biggest challenges of being a publicly offered cannabis company?
The reporting requirements are staggering in terms of manpower, hours, and expense. It’s also a challenge to separate inside information from public information.
What advice would you give to anyone looking to get into the cannabis space?
This is potentially one of the greatest growth industries in America. The magnitude and impact of this could be bigger than anything previously seen. We can move toward a sustainable, renewable economy with jobs for all.
What are your biggest tips for branding cannabis?
Separate yourself from the crowd through innovation.
Do you see any big changes coming in the future of cannabis?
There will be more cannabinoids, and more acceptance of botanical cannabis. The US will follow Canada in allowing licensed producers. The US will also follow Canada in terms of full recreational legalization.
Do you consume cannabis? And if so, what's your favorite way to consume?
Yes, at least 50 mg of CBD daily. In the morning I take RSHO Blue. Through the day, Revive Pro. At night, RSHO Green. And I apply a topical salve daily. Occasionally I’ll enjoy a THC edible.