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Marijuana Company of America (OTC PINK:MCOA) announced a non-binding letter of intent to create a new in-store advertising business, VapeTV US, Inc.. MCOA's wholly owned cDistro, Inc. will hold a 25% stake in the venture alongside VapeTV Ltd. of the UK and Jasleen Enterprises LLC, the owner of Vapor Maven, which operates nearly 200 retail vape locations in the U.S. VapeTV aims to leverage its advertising model to capitalize on the competitive vaping market, efficiently delivering content to consumers.
Marijuana Company of America (OTC PINK:MCOA) announced its most significant acquisition to date by purchasing VBF Brands, Inc., a licensed cultivator and distributor from Salinas, California. The acquisition aims to enhance MCOA's revenue and EBITDA in 2022 through increased production capabilities and access to additional properties. As California's cannabis market grows, MCOA expects to benefit from VBF's high-quality cannabis clones and efficient cultivation methods. This strategic move is designed to capture the rising demand for quality clones while addressing declining sales in mature cannabis flower.
Marijuana Company of America (OTC PINK:MCOA) announced the launch of its hempSMART™ Brazil operations, having received product recognition from ANVISA, Brazil's regulatory agency. This allows MCOA to sell its premium CBD products via physician prescriptions in Brazil, a significant CBD market in South America. The company expects to fulfill growing prescription requests and further expand its operations in the region, tapping into Brazil's large population and economic potential.
Marijuana Company of America (OTC PINK:MCOA) will present at the Benzinga Cannabis Capital Conference on October 15, 2021, at 9:30 am ET in New York City. CEO Jesus Quintero will outline the company's strategy for growth through organic development and acquisitions in the cannabis sector. The conference, held on October 14-15, aims to connect cannabis entrepreneurs and investors, featuring live presentations and networking opportunities. For more details, register here.
Marijuana Company of America (MCOA) has announced a $10 million equity line of credit agreement with White Lion Capital, LLC to facilitate growth and acquisitions in the cannabis sector. This financing is expected to enable MCOA to provide compelling structures for prospective acquisitions to go public, increasing capital access. CEO Jesus Quintero highlighted the importance of this partnership in enhancing their business strategy and capital backing in the evolving cannabis market. MCOA focuses on acquisitions and investments in the cannabis industry, including its cDistro and hempSMART brands.
Marijuana Company of America (MCOA) reported second-quarter financial results for 2021, showcasing total revenues of $16,880, down from $82,958 in 2020. This significant decrease of $66,078 is attributed to new eCommerce sales and reduced market demand due to the COVID-19 pandemic. The company also experienced a net loss of $1,828,117, a 10,830% increase from the previous year's loss. Despite these challenges, MCOA anticipates growth from its recent acquisition of cDistro and partnerships with Cannabis Global Inc. (CBGL) and Eco Innovation Group (ECOX) to enhance THC product manufacturing.
Marijuana Company of America (MCOA) has announced a strategic pivot into the Legalized Cannabis THC Industry, marking a historic expansion alongside its CBD operations. The company plans to pursue acquisitions and investment in Natural Plant Extract (NPE), a licensed cannabis manufacturer in California. CEO Jesus Quintero stated that these initiatives aim to enhance market share and support growth, potentially leading to public listings for target companies. MCOA seeks to develop joint ventures and improve extraction technologies, leveraging opportunities in the distressed cannabis sector.
Marijuana Company of America (MCOA) announced a strategic shift into the Legalized Cannabis THC Industry, marking a significant change in its business model. The company plans to pursue potential acquisitions, including the recently acquired cDistro, which distributes CBD and related products. CEO Jesus Quintero expressed optimism about capturing market share through distribution advantages and industry expertise. MCOA's strategy aims to enable public offerings for target companies, facilitating access to capital for growth. This move aims to enhance customer service and achieve profitable growth.
Marijuana Company of America (MCOA) announced its participation in the 2021 Champs Trade Show in Las Vegas from July 27-30. Its subsidiaries, hempSmart and cDistro, will showcase products including the Marley One functional mushroom line, developed in partnership with Silo Wellness (CSE:SILO, OTCQB:SILFF). Both subsidiaries aim to enhance brand visibility and sales, capitalizing on strong recognition, particularly the Marley name. MCOA's joint venture partner, Cannabis Global Inc. (OTC PINK:CBGL), will also exhibit, providing networking opportunities for industry growth.
Marijuana Company of America (MCOA) has completed a stock-for-stock merger acquisition of cDistro, a rapidly-growing hemp distribution company. This strategic move enhances MCOA's distribution footprint in North America. In the merger, cDistro's former securityholders now hold approximately 5.23% of MCOA's common stock, with potential for additional shares based on revenue targets. cDistro currently generates around $150,000 monthly in gross revenues, contributing positively to MCOA's financials.
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