MJ Holdings Inc. (OTCQB:MJNE) is a diversified publicly traded holding company providing management and consulting services to the regulated
cannabis industry. Through our subsidiaries we provide cultivation and production management services and infrastructure development. Our management operations include a three acre outdoor marijuana cultivation facility in the Amargosa Valley if Nevada, as well as a fully licensed indoor agritourism facility located in the city of Las Vegas known as the Highland Show-Grow. We are also active in identifying and acquiring revenue producing assets and licenses within legalized cannabis markets both nationally and internationally.
In 2018, we successfully petitioned the State of Nevada to allow the Company to plant a three acre outdoor “test” grow in the Amargosa Valley region of Nevada to establish the efficacy of growing marijuana in the harsh desert climate. Through our wholly owned subsidiary, Prescott Management, LLC, we installed a state-of-the-art mesh system, developed in Israel specifically for establishing crops in arid regions, to provide UV ray and excessive heat protection as well as pest and insect control. MJH obtained State approval of the facility in August of 2018 and immediately commenced operations with over 8,000 marijuana plants representing thirteen different strains. The State of Nevada has continuously conducted inspections of the condition of this initial crop and have been impressed with the current results.
Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. The research projects a majority of that, nearly $23.4 billion will come from the United States. In context of more states voting in favor of marijuana use legalization and business interest sparking across the board, that definitely would make sense.