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MPX Bioceutical Corp (OTCMKTS:MPXEF) Just Took a Big Step

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Unless you’ve been living under a rock, you’ve seen the cannabis patch explode higher over the past couple weeks, helping to power gains in MPX Bioceutical Corp (OTCMKTS:MPXEF) shares to within shouting distance of a new all-time closing high. The sector strength has certainly helped, but this company has catalysts of its own at work as well.

Specifically, the company just reported financial results for its fiscal first quarter for the three month period ended June 30, 2018 and provides a general business update. The company reported total revenues of $14.5 million for the fiscal first quarter of 2019 versus $4.5 million for the fiscal first quarter of 2018 up 224%, and sequential quarterly topline growth of 81% to $14.5 million, up from $8.0 million in the fiscal fourth quarter of 2018.

MPX Bioceutical Corp (OTCMKTS: MPXEF) is a multi-state diversified cannabis company with operations focused in the U.S. in the adult use and medical cannabis markets.

The company’s foundation is built on its profitable operations in Arizona, with three (and soon four), operating dispensaries and well the established Melting Point Extracts (MPX) Brand; it also has operations in Massachusetts, Maryland, and Nevada.

MPX Bioceutical Corporation plans to replicate its success in Arizona to become a dominant multi-state operator.

MPX Bioceutical Corporation, together with its subsidiaries, operates in the natural health products industry in North America. The company manufactures and distributes nutraceuticals, such as plant-based medicines. It also provides management, staffing, procurement, advisory, financial, real estate rental, logistics, and administrative services to medicinal cannabis enterprises. The company was formerly known as The Canadian Bioceutical Corporation and changed its name to MPX Bioceutical Corporation in November 2017. MPX Bioceutical Corporation was incorporated in 1974 and is based in Toronto, Canada.

According to company materials, “MPX, an Ontario corporation, through its wholly owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. The successful Health for Life brand operates in the rapidly growing Phoenix Metropolitan Statistical Area.  With the acquisition of The Holistic Center, MPX adds another operating medical cannabis enterprise to its footprint in Arizona. MPX continues to expand its U.S. footprint, and is providing operational and other management services to three dispensaries and one production license in Maryland.  The Company also leases a property in Owen Sound, Ontario, for which an application to Health Canada has been made for a cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals business.”

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As noted above, the company just posted its report card, reporting strong topline growth on a sequential and annual basis. In all, the market has witnessed 26% added to share values of the name over the past week of action.

“We recorded another quarter of strong topline results, with revenue increasing $10 million year over year, to a record of $14.5 million, driven by the strong performance of our Arizona operations,” said W. Scott Boyes, Chairman, President and CEO of MPX. “Our recent acquisitions within the State of Arizona, the expanded distribution capabilities for our MPX and Timeless wholesale brands, as well as the sales growth at our Health for Life retail dispensaries have significantly strengthened our results. We are thrilled with the continued success of our Arizona operations as we execute on our strategy to replicate this business model within our other markets, including Maryland, Massachusetts, Nevada and Canada, as well as signing an extraction agreement that expands our distribution network throughout California. We are making solid progress pursuing state licenses, establishing strong management structures and growing the reputation of both our wholesale and retail brands. By expanding our footprint in multiple states, we are laying the foundation to achieve future revenue growth while driving value for shareholders.”

Now commanding a market cap of $303.5M, MPXEF has a significant war chest ($8.5M) of cash on the books, which stands against about $18.6M in total current liabilities. One should also note that debt has been growing over recent quarters. MPXEF is pulling in trailing 12-month revenues of $22M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 224%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $MPXEF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MPXEF, either long or short, and we have not been compensated for this article.

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