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AUSTIN, Texas, April 20, 2021 - Marijuana Company of America (MCOA) CEO Jesus Quintero discussed shareholder questions in a recent interview. Key topics included collaboration with Cannabis Global (CBGL) and Eco Innovation Group (ECOX), potential up-listing plans, and expanding product reach as cannabis legalization grows. Quintero noted that 2020 revenues were affected by the pandemic, but the shift to a new eCommerce platform and product rebranding in 2021 aims to enhance market presence. MCOA leverages strategic partnerships for growth and innovation in the hemp industry.
Marijuana Company of America (MCOA) reported a 59.6% decline in revenue for 2020, totaling $280.7k compared to $695k in 2019. Gross profit also dropped from $249k to $159.3k, reflecting a gross margin decrease to 43.2% from 64.2%. Operating expenses were reduced by 30.5%. The company improved its financial position with total assets increasing by 84.2% to over $2.1 million and reduced total liabilities by 35.6%. Stockholder’s deficit improved by 48.5%.
AUSTIN, Texas, March 17, 2021 - SmallCapVoice.com announced an interview with Paula Vetter, Marijuana Company of America Inc.’s medical advisor (MCOA). The discussion focuses on hempSMART’s organic product formulations, emphasizing quality and scientific integrity. Vetter highlights her extensive experience in holistic medicine and her role in assuring product efficacy. MCOA aims to distinguish itself in the hemp market through superior product quality. The company has shifted from R&D to becoming a revenue-generating entity within the cannabis sector.
Marijuana Company of America (MCOA) has entered into a share exchange agreement with Eco Innovation Group (ECOX), enhancing its footprint in the cannabis sector. MCOA will exchange $650,000 worth of its common stock for an equivalent stake in ECOX. This collaboration aims to leverage Eco Innovation's advanced CBD extraction technology using non-CO2 solvents, promising to broaden MCOA's product offerings. CEO Jesus M. Quintero emphasized the potential of this partnership to accelerate the development of new hemp-based products for worldwide distribution.
The CEO of Marijuana Company of America (MCOA) announced several strategic initiatives in a recent interview. These include the launch of a new eCommerce sales model and a rebranding effort to promote a healthier lifestyle through hempSMART™ CBD products. A significant logistics agreement with Fulfillment.com enhances global distribution capabilities. Quintero highlighted the company's improved financial health due to debt reduction and a share exchange with Cannabis Global Inc. (CBGL), which aims to strengthen both companies’ operations.
Marijuana Company of America (MCOA) has signed a non-exclusive logistics and distribution agreement with Fulfillment.com. This partnership aims to enhance hempSMART's global distribution capabilities for its premium CBD products, initially focusing on the U.S., UK, and Netherlands. CEO Jesus M. Quintero highlighted Fulfillment.com's rapid growth and expertise in CBD distribution as beneficial for MCOA's strategy. hempSMART's organic, THC-free products address issues like anxiety and insomnia, further expanding their market reach with improved ecommerce integration.
Marijuana Company of America (MCOA) has announced a significant rebranding initiative aimed at promoting a healthy lifestyle through quality CBD products. This marks the first major rebrand since 2019. The new branding will include a logo, packaging, and website update for its hempSMART™ product line, focusing on mental wellness. The company aims to attract a younger demographic (ages 18-29) suffering from anxiety and depression. The updated e-commerce platform will offer direct sales of hempSMART™ products alongside educational resources on CBD.
Marijuana Company of America (MCOA) commends the Hemp Feed Coalition for submitting an application for federal approval of hemp as a feed ingredient. This marks a significant step towards allowing hempseed meal and cake as commercial feed for laying hens, pending approval from FDA-CVM. MCOA, which offers a range of hemp-based products including pet supplements, views this application as a validation of hemp's potential in the cannabis sector. CEO Jesus M. Quintero emphasizes the trust in hemp products' wellness benefits, although regulatory hurdles remain before finalization.
Cannabis Global (OTC PINK:CBGL) announced a substantial increase in its financial performance for the fiscal year ending August 31, 2020. The expected assets will rise to approximately $2,396,558, a significant increase from $807,824 reported in May 2020. This increase is largely due to an investment in Natural Plant Extract of California Inc. and a strategic share exchange with Marijuana Company of America (OTCQB:MCOA). The CEO stated that these developments reflect the company's growth in cannabinoid technologies and product innovation.
Marijuana Company of America (MCOA) has launched two new subsidiaries in Brazil and Uruguay to distribute its hempSMART™ product line. Brazil's market, with over 212 million consumers, is witnessing rising CBD demand, while Uruguay, the first nation to legalize cannabis, offers further opportunities. These partnerships aim to manufacture and sell quality CBD products locally. MCOA seeks to provide affordable options, collaborating with local medical professionals. Additionally, the company is applying for a 'Free Trade Zone' status to enhance cost efficiency in operations.
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