You're absolutely right Peterbelt.
First, virtually all those supposed "failures" happened in the first two years after mCig was formed, before Paul completely revamped the business plan and hired a new management team starting with Mike Hawkins as CFO. In spite of that, the company grew revenues each of those years.
Second, when a company changes its business plan, it drops old unprofitable product lines and initiatives. Paul was astute enough to realize in 2015 that he couldn't grow and be profitable with what mCig was offering at the time and he needed to change direction before wasting more company resources. He did this without running up any debt and with minimal dilution by reinvesting his own shares into the company. Business conditions change, and what may seem like a profitable venture one year can quickly become a sinkhole. For example, e-cigarettes looked like a great investment in 2013 but turned sour in 2015 as big tobacco and other competitors saturated the market.
Third, the company has been built from these early efforts and has profited from the lessons learned early on. For example, the deal with Cannapods, Inc. provided mCig with numerous leads for commercial grow opportunities which eventually led to Grow Contractor's current crop of customers. During that time, the company learned that the real money was in building customized large scale commercial operations as opposed to standardized mom and pop grow units. The company's focus on the customized commercial builds is what led Cannapods to break off their relationship with mCig. mCig subsequently built a successful construction business while Cannapods is still floundering.
Along the same lines, the company saw its profits from selling third party products online being eaten up by the limited options and high costs charged by credit card processors who would take on MJ sector business. This has led to their current focus on offering payment processing solutions to MJ businesses via Tuero Processing, Inc.
With the exception of Technology which is still in launch mode, every one of mCig's current divisions is currently profitable. Very few companies find that every one of their initiatives produce successful results. The trick is to learn from each experience and not keep throwing money down ratholes.
