Marijuana Company Of America Inc (OTCMKTS:MCOA) has traded down as of late, but might see a resurgence on a number of positive drivers. First, the new Hemp Bill is heading towards President Trump’s desk and would make hemp federally legally, and that would make MCOA’s life a lot easier. Second, MCOA has showed positive financial results helped out by a new website and marketing platform.
The company’s HempSMART platform allows customers to subscribe to receive products and could produce a more constant stream of revenue for MCOA. Donald Steinberg, MCOA’s CEO, stated, “As we start the hempSMART global expansion, it was imperative to have a platform able to facilitate a large number of affiliates with different currencies and languages. This platform provides our affiliates with the latest in marketing software to allow them to take advantage of all social media outlets. With my background in establishing large global marketing and distribution companies, I am confident this platform will allow us to focus on growth. We have a good solid company with an excellent team, and we have developed great industrial hemp based CBD infused products which are garnering acclaim from many sources. In addition, we have an affiliate marketing program that is structured to provide long term residual income from a global marketplace. It is for all of these reasons that I believe our company is now set for long term growth.”
Marijuana Company Of America Inc (OTCMKTS:MCOA) trumpets itself as a marijuana marketing and distribution company. It intends to distribute a range of marijuana, CBD, and related products in the United States and internationally.
The company was formerly known as Converge Global, Inc. and changed its name to Marijuana Company of America, Inc. in December 2015. Marijuana Company of America, Inc. was founded in 1985 and is headquartered in Bonsall, California.
MCOA is a cannabis marketing and distribution player that intends to be the first to distribute a wide range of high-quality marijuana products via a unique distribution and marketing platform.
According to the Company’s press materials, “MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART™”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop. About Our hempSMART™ Products Containing CBD: The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication, and disclaims CBD as a dietary supplement. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition.”
Find out when $MCOA stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
According to Chief Executive Officer, Don Steinberg, Q3 marked an important milestone as hempSMART enjoyed strong demand leading robust sales.
Revenue in the quarter came in at $90,276, representing a 2,984% increase from $2,927 reported a year earlier. In addition to robust revenue growth, the company registered a 1,057% decrease in net loss that came in at $1.9 million compared to 19 million reported a year earlier. Gross profit in the quarter surged to $61,839.
“We ended the quarter strong with a revenue trend that is now largely stabilized with the strong foundation that we built. We expect sales to continue to increase through Q4 with the holiday season and into next year with our European expansion,” said Mr. Steinberg.
Earning a current market cap value of $61.47M, MCOA has a good amount of cash on the books. Plus, the stock has seen strong volume over the last ten days averaging over 14M. The passage of the new Farm Bill is a gamechanger for this industry and investors should be watching closely. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $MCOA 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 $MCOA, either long or short, and we have not been compensated for this article.