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Earnings: mCIG Continues To Impress


03/06/17
https://technical420.com/cannabis-article/earnings-mcig-continues-impress

In late 2015, one of the companies on our radar screen, mCig, Inc., (MCIG: OTCQB) announced that it only had enough capital to support the business for another month.

Boy, how things have changed in less than two years.

Today, mCig reported its financial and operating results for the quarter that ended on January 31st. Since that dreadful report in 2015, the company has undergone a degree of transformation which has mCig better positioned to capitalize on the emerging global cannabis industry.

Proof is in the Pudding

As evidenced by today’s earnings report, the changes implemented by mCig have started to take shape and have a major impact on the overall company.

mCig expanded into a 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 continues to focus on growth and is looking to further improve and broaden its geographic diversity through organic growth and strategic partnerships.

Quarterly Financial Highlights

During the quarter, mCig generated $1,362,689 in revenue and this represents more than 120% growth on a quarter-over-quarter basis. When compared to the same period last year, revenue increased by 446%. mCig recorded $288,230 in gross profit, which represents a 31% increase on a quarter-over-quarter basis and a 239% increase on a year-over-year basis.

mCig also saw a significant decrease is overall expenses and this supported the higher margins reported by the company. During the third quarter, mCig incurred less than $100,000 in expenses while its cash position increased to $420,888.

When looking at mCig’s balance sheet, one of the most significant changes relates to the company’s current assets which total more than $1.25 million (less than $300,000 at the end of the prior quarter)

Quarterly Operational Highlights

mCig’s VitaCig subsidiary recorded its highest monthly revenue in the company’s history. During the month, the subsidiary generated more revenue than it did during the prior quarter
The company reported the entrance into joint venture for expansion of its VITACBD brand.
mCig expanded operations to include a new cannabis supplies segment
The company expanded operations and is constructing a new facility in Oregon
mCig completed its first construction project and is awaiting its client’s Certificate of Occupancy

Outlook is Bright

From improving fundamentals to a better share structure, mCig is a company that investors need to watch as it continues to execute on initiatives focused on creating value for shareholders.

mCig has transitioned from a pure-play vaporizer company to a diversified holding company servicing the legal cannabis, hemp and CBD markets.

Important Investor Disclosures

Disclosure. Compensated Affiliate. This report was authored by and is property of StoneBridge Partners LLC. All information and data relied upon in drafting this report is publicly available. The author believes and considers its sources to be reliable, but does not guarantee the accuracy or completeness of any information contained in this report. Any and all information, data, analyses and opinions are provided for informational purposes only and is not intended, in any manner, as investment advice. Any projections or other information generated by StoneBridge Partners LLC regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. None of the material contained in this report is intended as a solution or offer to sell or purchase a specific stock or any other investment. This report is not directed to, or intended for distribution or use by, any person or entity that is a citizen, resident or located in any municipality, state, country or other jurisdiction where the distribution, publication, availability, or use of this report is contrary to any governing law or regulation. The securities discussed in this report may not be eligible for purchase and/or sale in certain jurisdictions or by particular individuals. It is important that you check any and all governing laws and/or regulations that may be applicable in your jurisdiction. Investing in securities of issuers organized outside of the United States, including ADRs, entail certain risks. The securities of non-United States issuers may not be registered with, nor be subject to the reporting requirements of the United States Securities and Exchange Commission. Please contact a Financial Advisor for professional adviceregarding any and all securities investments. This report is intended for informational purposes only. StoneBridge Partners LLC’s officers, directors, employees, affiliates, or subsidiaries may have positions in securities covered by StoneBridge Partners LLC. StoneBridge Partners LLC receives compensation from the company and/or has a position in the securities mentioned in this report