Tags Posts tagged with "mcig"

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$VPRB Brands HONEYSTICK and Gold Nugget Extracts Will Be Teaming Up

VPR Brands, LP ( OTC PINK : VPRB ) and Gold Nugget extracts will be teaming up for the High Times Cannabis Cup So-Cal April 21-23. Gold Nugget Extracts will officially be powered by our flagship vaporizer the HONEYSTICK. Our Vaporizers will be paired with Gold Nugget top shelf extracts in various categories under jointly branded units. The VPR Brands HONEYSTICK team will also be sharing sales and marketing booth with Gold Nugget Extracts at the event targeting both vendors & retail consumers.


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$MCIG Grow Contractors Launches Greenhouse Website Portal


Grow Contractors, Inc., (GC) a wholly owned subsidiary of mCig, Inc. ( OTCQB : MCIG ), a diversified company servicing the legal Cannabis, Hemp, and CBD markets, launched its new greenhouse website at www.growcontractors.org/greenhouses/

Rob Kressa, GC’s CEO, stated, “The new open disclosure standard for the greenhouse selling portal is just the first step in our progression to becoming the nation’s largest greenhouse supplier in the cannabis grow and herbal farming markets. Since we announced our exclusive agreement with Sangreen for distribution of greenhouses at half the cost of the current market price, we have spent the past few months perfecting the design and supply lines.”


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$ADVT Gets Largest Order to Date from SpeedWeed

ADVANTIS CORPORATION ( OTC PINK : ADVT ) announced today that SpeedWeed, California’s largest Collective, placed what has become for Advantis, their largest order to date. Advantis further announced, among other positive news, that their 1st quarter revenues are up 300% from the previous quarter. Advantis also announced that they received their first order from Arsenal, a large collective in San Diego. According to Advantis CEO Christopher Swartz, “This new technically-driven collective has placed its initial order and will begin carrying our entire product line next week.”


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Virginia Moves Forward In Marijuana Reform, Decriminalizing CBD

Two marijuana reform bills were recently signed by Virginia Governor Terry McAuliffe (D), ending the state’s automatic six-month driver’s license suspension for first time possession offenders and allowing the production of CBD oil. This may look like a couple drops in a raging storm of national decriminalization, but NORML Executive Director, Erik Altieri, said it’s a huge accomplishment.


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mCig, Inc. Reports an Increase in Revenue of 446% to $1,362,689 for the Most Recent Quarter Compared to Last Year

Three months ended January 31, 2017 compared to the three months ended January 31, 2016

  • Revenue increased 446% to $1,362,689 compared to $249,641
  • Gross profit increased 239% to $288,230 compared to $85,076
  • Expenses decreased 27% to $97,052 compared to $133,236
  • Cash and cash equivalents increased 422% to $420,888 compared to $80,542
  • Current assets increased 1,241% to $1,259,689 compared to $93,930

Three months ended January 31, 2017 compared to the three months ended October 31, 2016

  • Revenue increased 120% to $1,362,689 compared to $620,015
  • Gross profit increased 31% to $288,230 compared to $220,151
  • Expenses decreased 63% to $97,052 compared to $262,437
  • Cash and cash equivalents increased 47% to $420,888 compared to $285,812
  • Current assets increased 116% to $1,259,689 compared to $583,695

Subsequent actions during this quarter

  • VitaCig experiences its best month in its history exceeding all of last quarter’s revenue numbers for its segment
  • MCIG enters into joint venture for expansion of its VITACBD brand.
  • MCIG expands operations to include new cannabis supplies segment
  • Grow Contractors expands operation to include Oregon, where it is constructing a new facility.
  • MCIG completes its first construction project and awaiting clients Certificate of Occupancy

MCIG will address its financial performance in the quarterly shareholder conference call tomorrow, March 7, 2017 at 4:30 PM ET. To participate in the conference call shareholders and investors may call in to 712-451-0011 and enter access code 889964.

Paul Rosenberg, MCIG’s Chief Executive Officer included, “We encourage everyone to join our team of industry experts as we discuss MCIG’s history and future. We look forward to updating our shareholders on MCIG operations.”

About mCig, Inc.

Headquartered in Henderson, Nevada, mCig Inc. ( OTCQB : MCIG ) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has expanded from originally a vaporizer manufacturer, to an industry leading, large scale, full service cannabis cultivation construction company currently operating in the rapidly expanding Nevada market, and a Hemp based CBD market supplier. The company looks to further broaden its expansion in multiple different fields within the cannabis industry through organic growth and strategic partnerships. For more information visit www.mcig.org.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

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MCIG Sells Stony Hill Corp. an 80% Stake in its VitaCBD Brand

HENDERSON, NV / ACCESSWIRE / February 27, 2017 / mCig, Inc. (MCIG), a diversified company focused on the cannabis industry, announced today that it has entered into an asset purchase agreement with Stony Hill Corp. (STNY) for the purpose of pursuing mutually beneficial business opportunities in the Cannabidiol (CBD) Industry. Under terms of the agreement, MCIG will sell the VitaCBD brand to STNY, in exchange for total consideration of $850,000 in cash and common stock, and a 20% stake in VitaCBD, LLC, a subsidiary of STNY.

Paul Rosenberg, President and CEO of MCIG, commented, “MCIG has worked diligently to build the VitaCBD product line, but recognizes the need for a strategic partner to assist in branding and marketing of the product. After months of discussions and negotiations, we believe we have found that partner with Stony Hill. We are very bullish on the future revenue potential of VitaCBD and its ability to create value for our company and its shareholders.”

VitaCBD is a highly dedicated group devoted to engineering the purest hemp derived products available. Both hemp and marijuana contain dozens of cannabinoids, naturally occurring chemical compounds, but it is cannabidiol (CBD), in particular, that offers the potential for health and therapeutic benefits without the high. Hemp plants typically contain elevated levels of health-enhancing CBD, but by definition contain only trace levels of THC. This makes the hemp plant attractive to those seeking its potential health benefits as part of an antioxidant-rich lifestyle.

Chris Bridges, President of STNY, stated, “This transaction will expand Stony Hill’s platform of products and accelerate its growth strategy in the industry. Stony Hill and mCig will have a synergistic relationship, combining management and personnel with a dedicated focus on the promotion and deployment of the VitaCBD brand. We are excited to have mCig as a strategic partner and a shareholder in Stony Hill.”

About mCig, Inc.

Headquartered in Henderson, Nevada, mCig Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to an industry leading, large scale, full service cannabis cultivation construction company, with its Grow Contractors 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. For more information, visit www.mcig.org.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing, and distribution plans and strategies.

Contact:

CEO of mCig, Inc.
Paul Rosenberg
paul@mcig.org

0 1172

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

ITEM 1.01 Entry Into a Material Definitive Agreement
The Company has cancelled 5,124,923 shares of common stock of the company, under 4 separate agreements.

On January 17, 2017 the Company returned to treasury 1,700,000 shares of common stock under a settlement agreement with the previous owners of Vapolution, Inc., (“Vapolution”). MCIG elected to close the operation as a standalone entity and terminate its cost basis investment. The Company will continue selling the Vapolution brand products under MCIG.

On January 31, 2017, in settlement of services provided, the Company cancelled 2,560,336 shares of common stock by two shareholders who obtained the stock as stock based compensation. The company recorded a reduction of stock based compensation based upon the issue price (cost basis), not current market price. The cost basis of the agreements was $47,472.

On February 13, 2017, in settlement of services provided, the Company cancelled 964,587 shares of common stock by a shareholder who obtained the stock as stock based compensation. The company recorded a reduction of stock based compensation based upon the issue price (cost basis), not current market price. The cost basis of the agreements was $36,000.

ITEM 9.01 Financial Statements and Exhibits.
Exhibit No. Description

10.1 Form of Rescission Agreement and Mutual Release

0 4354

mCig Announces 5 Million Reduction in Shares Outstanding

mCig Inc. ( OTCQB : MCIG ), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today that it has begun the process of cancelling 5 million shares of its common stock.

“We are announcing to our shareholders that we have reduced our shares of common stock outstanding by 5 million shares,” stated Michael Hawkins, CFO of MCIG. “Building value for shareholders in a public company requires not only success in establishing a strong business and revenue model, but also maintaining the financial integrity that comes from prudently managing the stock capital structure of the company. During our review we were able to identify and negotiate terms of service that led to the cancellation of prior stock issuances.”

“We made a firm commitment to our employees, partners and shareholders that we would focus on executing our business plan with the guiding principle of enhancing shareholder value through profitable revenue growth and diligent oversight of our capital structure,” added Paul Rosenberg, CEO of MCIG. “We will continue to evaluate our stock capital structure to increase shareholder value. It is our team’s primary objective to add value to current and future shareholders through actions reflecting appropriate fiduciary responsibility,” concluded Rosenberg.

In a separate matter, MCIG received a proposal from several shareholders to create a new series of Preferred B Stock to convert their common shares with a 24 month lock-up agreement. MCIG is happy to see that multiple shareholders believe in the MCIG management team and its implemented business strategies, and are prepared to invest in MCIG on a long term basis. MCIG’s board of directors is analyzing the proposal, and if the board of directors concurs with shareholder group, the capital structure of the company will be substantially improved. The Company will update our shareholders on the board of directors’ decision and the outcome of the transaction.

About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. ( OTCQB : MCIG ) 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. For more information visit www.mcig.org.

Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

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mCig Division Expands International Market

Fresh off the heels of closing a $1.3M three-year contract for Japan, the VitaCig Division has closed yet again another lucrative international contract, this time for the European Union, including Russia.

CEO Paul Rosenberg comments, “I am extremely pleased to announce our agreement with Mr. Jozsef Fuzesi, CEO of Nefeloma Trade LTD for the distribution and sale of our premier VitaCig line of products in both Europe and Russia. Focusing on international expansion is a key path for long term growth and success.”

New VitaCig International Partner, Mr. Jozsef Fuzesi, comments, “I am extremely excited about the new partnership with mCig and VitaCig, the maker of the original Vitamin Vaporizer. I am honored to have the ability to offer a healthier alternative to tar and tobacco based products, and taking into consideration the overwhelming initial interest, we are looking forward to a very lucrative partnership.”

With this contract, mCig continues to add to its IP and asset portfolio with VitaCig mark now protected in Europe and Russia.

Lastly mCig/VitaCig is pleased to announce the launch of its VitaCig® Excalibur Rechargeable Capsule System. Delivering the next generation of VitaCig inhalation science and technology, the VitaCig® Excalibur features a unique, advanced twist on pre-filled capsule design. Producing an even smoother, rich, dense vapor than its disposable counterpart, along with its sleek, classy design, the VitaCig® Excalibur is the perfect extended pleasure at home, on the go, or with some friends. The VitaCig® Excalibur kit comes with the battery bottom, two pre-filled capsules, one Marvelous Mint, one Boisterous Berry, and an innovative chargeable USB Adapter. The pre-filled flavor capsule liquid is enriched with all the vitamins, essential oils, and natural plant extracts associated with the VitaCig® disposable device. Aromatherapy on the go!

The VitaCig® Excalibur advanced capsule system was created to appeal not just to the beginner vape/e-cig user, as with our VitaCig® disposable product, but also to the moderate user who prefers more of the open tank vaporizers. Keeping with innovation and convenience, our tank capsule system are pre-filled, so there is no mess or waste.

In addition to the VitaCig® Excalibur, with the Holiday shopping season in full swing, VitaCig has also released its Candy Cane — Special Holiday Limited Edition VitaCig®. Both the VitaCig® Excalibur and our new VitaCig® Candy Cane Holiday Edition make for the perfect gift or stocking stuffer. For more information visit http://www.vitacig.org/

Stay tuned for future updates!

About mCig, Inc.

Headquartered in Henderson, Nevada, mCig Inc. ( OTCQB : MCIG ) 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. For more information visit www.mcig.org.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

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mCig Inc., (OTCMKTS:MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today it elected to convert its Convertible Promissory Note into shares of Omni Health, Inc., (OMHE) as of October 31, 2016. The outstanding balance owed, $98,108, including interest, were converted into just over 17,677,058 shares, increasing its current position to more than 75,177,058 shares.

“MCIG had been approached by many companies that wanted VTCQ and we wanted the best deal possible for MCIG and its shareholders. We kept the brands we helped create (Vita-cig), kept a sizeable share position, and made a deal with a company that is doing 7 figures in revenue a quarter,” said Paul Rosenburg CEO of MCIG, Inc. The significance of the Omni Health, Inc., (OMHE) deal for MCIG shareholders is the passive investment by MCIG will derive a future cash position for MCIG and MCIG shareholders. At a $0.02 PPS of OMHE our investment is worth roughly $1.5 million; however the current valuation is based upon the previous VTCQ business and its net losses, while OMHE has just stated a net profit of $1.6M in its first quarter which will significantly enhance our investment once all information is made public and digested in the market. With $1.6M net profit reported in its first quarter, dividend holders in the old VTCQ now have significantly more revenue stream and profit stream than the previous assets which were taken back into MCIG, mainly the VitaCig product line.

As a shareholder of OMHE we are happy to unlock value for our shareholders by developing great streams of revenues and incubating great businesses like Scalable. Each business division has its own time and growth, and our time now will focus on our other divisions now that VTCQ is in good hands with a strong management team to guide our ownership.

OMHE will be engaging in its own public relations program to unlock the value for its shareholders, and operate completely autonomous with MCIG. Michael Hawkins has been leading the transition of power team with OMHE to assist new management in a smooth progression from a private operation for more than 40 years to one of a public entity. Mr. Hawkins will be relinquishing his role as the Chief Executive Officer during this period of transition as it is winding down to new management as a natural progression to autonomy.

About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCMKTS: MCIG) 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. For more information visit www.mcig.org.

About Omni Health, Inc.
Headquartered in Miami, Florida, Omni Health Inc. operates a pharmacy operation in Hialeah, Florida, Malecon Pharmacy. Malecon Pharmacy has been a pillar of the local community since 1974 providing healthcare products, pharmacy operations, prescription drugs, and other services and products in the skin care and anti-aging industry.

Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
Contact:

Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org

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mCig Subsidiary, Scalable Solutions Chosen As The Exclusive Distributor For Sangreen Green Houses

Greenhouse technology is one of the most “in demand” portions of the sector as they relate to the cannabis and urban farming industries due to their low cost structure and operations. Currently, Cultivators are forced to use high priced greenhouse manufactures, where companies are paying a premium based off of name recognition from firms utilizing the same hot dipped galvanized steel from China or aluminum structures. Rather than pay the premium on a US name mark up, Scalable Solutions & Sangreen will circumvent the middleman while creating the highest quality, lower cost greenhouse that cultivators desire.

“We feel that our exclusive agreement with this world renowned multinational greenhouse manufacture will be great for our industries bottom line as price gauging for the Cannabis greenhouse market becomes a thing of the past. The confidence that Sangreen has shown in honoring MCIG & its Scalable Solutions division with this important contract, is a true testament to the impact we are having in the Cannabis construction cultivation markets. This agreement puts the company into a position to rapidly gain market share as Sangreens United States arm,” said Ron Sassano of Scalable Solutions.

“We could not be more proud of our Scalable division. This is a first in Cannabis industry to sign such an important multinational contract with the premier maker of Greenhouses in the World,” states Paul Rosenberg, CEO of MCIG, on behalf of Scalable. “We will be supporting this effort by creating 3 models of offerings for the Cannabis industry and dedicating resources to the success of this venture. Greenhouses are the hottest trend in the industry with the two largest US GreenHouse manufacturers being consolidated with a Third. We will price the offering at a discount to other manufacturers, and we will be providing high quality hot dipped galvanized steel with sealed joints, commensurate with top standards.”

“Expanding into the growing USA Cannabis market through Scalable Solutions is a strategic move designed to penetrate the current market with a company we feel will be an industry leader, and lead us in this market. This agreement gives us a competitive advantage in the US Cannabis market, thus bringing affordability and quality product to the robust growing markets of the USA,” says Spring Zhu, the General Manager for North America of Sangreen. “We have already received one large order from Scalable for the largest and most advanced desert grow in Vegas and are working on a clear and fair standardized offering to streamline bids to consumers and reduce the work load given Scalable’s deal flow, and the many other bid requests we have received to date from them.”

About Scalable Solutions, LLC

Headquartered in Henderson, Nevada, Scalable Solutions, Inc. is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows.

About Beijing Sangreen Agricultural International Technologies Co., LTD

As a professional greenhouse manufacturer and exporter to almost 40 countries around the world, Sangreen (http://www.sangreentech.com) provides services of greenhouse design, production, and installation. Adding further value, Sangreen offers project consultancy, production suggestions, hydroponic technologies, and turnkey solutions to help customers maximize production and guarantee high yields. The comprehensive services and solutions have made Sangreen a key player in this sector.

Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.

0 2859

mCig, Inc. Announces Record Fiscal Second Quarter Net Sales, Net Income, Adjusted Net Income and Adjusted Net Margins

mCig, Inc. ( OTCQB : MCIG ), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today its earnings results for its second quarter of the 2017 Fiscal Year.

During the second quarter, MCIG generated $620,015 in revenue, a 126% increase from the previous quarter. The company reported to be profitable during the quarter and MCIG reported $10,469 in net income, an increase of $675K in its bottom line compared to same period last year. MCIG’s adjusted net income for the period was $102,550, an adjusted net profit margin of 20%.

Michael Hawkins, Chief Financial Officer, stated, “For the second straight quarter MCIG has achieved an adjusted net income. This will be a landmark quarter in the history of MCIG as the company achieves a net profit for the first time in its history.” He went on to say, “Scalable Solutions, MCIG’s construction division grew in net revenue by 200% and achieved profitability, a fiscal quarter ahead of schedule and we expect that Scalable’s profitability trend will continue given the recent recreational legislation passed in Nevada. On top of that our Wholesale division increased sales by 248% and leads all divisions with a 27% net income, with other wholesale products like ‘Rollies’ in production and not accounted for.”

Paul Rosenberg, MCIG’s CEO, reinforced the excitement at MCIG by stating, “With the recent historic election where 8 of 9 states approved measures to legalize marijuana either recreationally or medically will virtually expand the market we are entrenched in overnight. We are pleased to see that our grassroots & fiscally conservative measures have taken hold and that MCIG is seeing tremendous growth rates at a time when a paradigm shift has just taken place in the cannabis, hemp and CBD markets. We are well positioned, well capitalized and eager to fulfill the requirements of this new, expanded market.” He further clarified, “MCIG is not your traditional ‘need a lot of cash to grow’ company. While sustaining this growth with no toxic debt, we have seen our cash position improve by 27% from the previous quarter. It stands to reason that this trend can continue and potentially be improved significantly with our Scalable Solutions division which is positioned at ground zero of the Nevada & California recreational/medical cannabis markets.”

The Company reports all financial information required in accordance with generally accepted accounting principles (GAAP). The Company believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand MCIG’s performance that many investors believe may obscure MCIG’s ongoing operational results.

For example, MCIG uses non-GAAP net income (Adjusted Net Income), which excludes stock-based compensation, amortization of acquired intangible assets, impairment of intangible assets, costs from acquisitions, non-cash deferred tax provision and litigation and related settlement costs. In addition to Adjusted Net Income, MCIG uses EBITDA, earnings before interest, taxes, depreciation and amortization, to evaluate its operations.

The company believes that excluding certain costs from non-GAAP net income and EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company.

Whenever MCIG uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. The following table reflects the non-GAAP Consolidated Statements of Operations for the three month period and six months ending October 31, 2016 and October 31, 2015, respectively.

For period ending October 31, Six Months ending October 31,
CONSOLIDATED STATEMENT of OPERATIONS: 2016 2015 2016 2015
Net Income (Loss) $ 10,469 $ (663,148 ) $ (142,706 ) $ (1,083,797 )
Interest (1,900 ) (3,108 )
Depreciation and Amortization 13,468 2,070 21,654 4,064
EBITDA 22,055 (661,078 ) (124,160 ) (1,079,733 )
Adjustment for Non-Intangible Asset Depreciation (271 ) - (910 ) -
Stock Based Compensation 102,550 340,501 270,850 686,466
Adjusted Net Income $ 124,334 $ (320,577 ) $ 145,780 $ (393,267 )

About mCig, Inc.

Headquartered in Henderson, Nevada, mCig Inc. ( OTCQB : MCIG ) 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. For more information visit www.mcig.org.

0 3943

The Pot Stock Run Has Just Begun in America

Written by: Hamzah Khan

After California, Nevada, Florida, Massachusetts, Maine, North Dakota and Arkansas just legalized recreational or medicinal cannabis, pot stocks are on a sector wide sale. It is petty obvious that the “sell on news” strategy has been employed. What’s next? Does the run end here? Not really. As a matter of fact, it has just begun. They say a lot of lessons are to be learned from history. In the stock market, we’re speaking of technical charts. The notion that previous price action indicates future price movement is undoubtedly true, more so than not. So let’s go through a history lesson.
Here’s where MCIG was then. Have a closer look at the price action from 2014:

pic1

Do you see that? After January 10th, we witnessed a similar drop that we’re seeing today. A major sell-off on news before a historical run. If you compare the left segment of the chart to the right, it seems like we’re forming a similar pattern.

TRTC indicates much of the same:

pic2

Even the infamous PHOT:

pic3

Market makers have a stronghold over OTC plays. To us, this seems like a combination of the following: classical shake of weak hands by MMs to give them an opportunity to increase their positions, natural profit taking and also some short interest, granted some of these plays were up huge. So, to the very important question: Is the run over? Technically, according to charts, it has only just started. Alright, how about the fundamentals? Fundamentally speaking, there are various factors we need to assess. Firstly, the entire West Coast has legalized cannabis, either medicinally or recreationally. California alone is five times the size of Colorado. Re-evaluations will be hitting billions of dollars now. I was asked whether the 2014 Colorado comparison is valid or not – since Colorado reforms were actually passed in 2012 and came into effect in 2014. It is pertinent to note here that prices will be factored into stock prices from now till then, and then some after. I say this so confidently for a reason.

For comparison purposes, the Canadian marijuana stocks highlight an important story. Sure, the legalization there is on a federal level, but that doesn’t in any way discredit the massive market size of America just from the West coast alone. Even on a state-to-state level, the numbers will be big. Colorado indicates that to us. Ever since Trudeau took over office, volume picked up in companies, listed on the TSX, such as: Canopy Growth, Mettrum Health, Aphria, Aurora Cannabis and Organigram. Granted there was a consolidation phase, the run has been massive and these stocks continue to break out even today.

Uncertainty in the cannabis industry is also prevailing due to Donald J. Trump being elected as the 45th President of the United States. While Trump has had a flip-lfop position on the legalization of cannabis, he made it clear on an interview to Bill O’Rilley, earlier in the year, that he’s in full support of medicinal cannabis. His position on adult recreational use of cannabis hasn’t however been as lenient. The jury is still out on that one. With Chris Christie or Rudy Giuliani as the likely candidates to head the justice department, it only makes sense for you to be concerned. They have clearly opposed the adult use of recreational cannabis. All Trump has to do is withdraw the Cole Memorandum in order to implement federal drug laws at a state level, but he won’t do that. In an interview to Washington Post last year, Trump stated, “In terms of marijuana and legalization, I think that should be a state issue, state-by-state. Marijuana is such a big thing. I think medical should happen – right? Don’t we agree? I think so. And then I really believe we should leave it up to the states.”

Editors Note: The Op-Ed is not a buy or sell recommendation from MarijuanaStocks.com, but rather an opinion on the historical data related to Marijuana Stocks and event driven equities within the market. We selected 3 stocks from 2014 for the author to analyze and give his unbiased opinion. He was not compensated in anyway by MarijuanaStocks.com

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