MJ Holdings Inc (PK:MJNE)
Business Focus: Agriculture Support Services
| Sector: Consumer Non-Cyclicals | Industry: Fishing & Farming |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 2580 S. Sorrel St., LAS VEGAS NV 89146 |
| Tel: | N/A |
| Website: | https://www.mjholdingsinc.com |
| IR: | See website |
| Key People | ||
| Patricia Chinnici Interim Chief Financial Officer | ||
| Business Overview |
| MJ Holdings, Inc. is a diversified cannabis holding company. The Company is engaged in providing cultivation management, asset and infrastructure development in the Las Vegas market. It is focused on providing a 360-degree spectrum of infrastructure, including cannabis cultivation, production of cannabis related products, management services, dispensaries, and consulting services. The Company's subsidiaries include Prescott Management, LLC, which provides day-to-day management and operational oversight to the Company's operating subsidiaries; Icon Management, LLC, which provides human resource management (HR) services to the Company and is responsible for all payroll activities and administration of employee benefit plans and programs; Farm Road, LLC, which owns approximately 260 acres of farmland in Amargosa Valley, Nevada; Condo Highrise Management, LLC, which manages the Company owned Trailer Park in Amargosa, Nevada; and Red Earth Holdings, LLC. |
| Financial Overview |
| For the nine months ended 30 September 2023, MJ Holdings Inc revenues decreased 76% to $183K. Net income totaled $1M vs. loss of $3.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net Income reflects General and administrative decrease of 80% to $823K (expense), Miscellaneous income increase from $134K to $1.4M (income), Miscellaneous expense decrease from $64K (expense) to $0K. |
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