mCig Inc (OTCMKTS:MCIG) Demonstrates the Value of Diversity

mCig Inc (OTCMKTS:MCIG) Demonstrates the Value of Diversity

SHARE

mCig Inc (OTCMKTS:MCIG) is a penny name in the cannabis patch that has truly been all over the map, but with a clear upward bias over the past year. One of the important elements underlying that success is the company’s emergence as a real player in the facility development side of the game. The company was recently contracted by Players Network (OTCMKTS:PNTV) to assist in the development of the Green Leaf Farms Holdings facility in North Las Vegas.

The company just announced that that project has been moving along, with phase 1 (out of three total phases) now complete. According to the release, in addition to the completion of Phase 1, mCig is already nearing the completion of Phase 2 out of 3 total phases. Phase 2 is expected to complete in approx. 6 weeks which will add an additional 7,000 sq. ft. of cultivation to the facility.

mCig Inc (OTCMKTS:MCIG) offers electronic cigarettes and related products through its online store mcig.org, as well as through the company’s wholesale, distributor, and retail programs. It also constructs commercial and modular buildings which are aimed at the cannabis cultivation market.

The company was formerly known as Lifetech Industries, Inc. and changed its name to mCig, Inc. in August 2013. mCig, Inc. was founded in 2010 and is headquartered in Henderson, Nevada.

According to company materials, “Headquartered in Henderson, Nevada, mCig Inc. A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large-scale, full-service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change.”

The company’s subsidiary, Grow Contractors, touts itself through the following messaging: “Using modular system technology, we create a variety of environmental enclosures ranging from basic temperature and humidity control to medical grade cleanroom environments designed to produce consistent results during any stage of cannabis cultivation. Our mission is to help our clients safeguard investments and find long-term success. This is why we take pride in our ISO compliant, state of the art building components to be the base of your business.”

Find out when $MCIG stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, the company’s progress as a contractor in the development of cultivation facilities has been progressing, with its latest project starting to take shape nicely. This is a solid diversification edge, which we have found to be extremely important for companies in the marijuana space. The stocks that seem to hold value during the ups and downs that accompany being a part of a new and emerging industry tend to be those that have the capacity to cultivate multiple steady and relatively independent lines of revenues.

In the case of this particular project, Green Leaf Farms Holdings, LLC (Green Leaf), a subsidiary of PNTV, contracted mCig to develop and build out their 27,000 sq. ft. facility in North Las Vegas. mCig completed the first Phase of development which included two vegetation and flower rooms, an extraction lab and all the needed infrastructure to support the facility. In addition, mCig worked with the City of North Las Vegas and the State of Nevada to ensure Green Leaf was 100% compliant. mCig has already completed the design, structural engineering and technical specifications for the remaining build out of the full 27,000 sq. ft. facility.

Recent action has seen some sideways movement in shares of the stock, but that move comes in the context of a larger corrective process. However, MCIG is a stock who’s past is littered with sudden rips. Moreover, the name has registered increased average transaction volume recently, with the past month seeing 45% above the average volume levels in play in this stock over the longer term.

Now commanding a market cap of $62.4M, MCIG has a reserve ($420K) of reported cash on the books, which stands against virtually no total current liabilities. MCIG is pulling in trailing 12-month revenues of $2.5M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 445.9%. We will update the story again soon as further details emerge. For continuing coverage on shares of $MCIG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Sign Up for our 100% FREE Oracle Dispatch Newsletter

LEAVE A REPLY