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Monday, December 12, 2016 10:12:30 AM
mCig, Inc. Releases August October 2016 Quarterly Financial Results
Dec 12, 2016
http://www.otcmarkets.com/stock/MCIG/news/mCig--Inc--Releases-August-October-2016-Quarterly-Financial-Results?id=146795&b=y
Highlights include:
- MCIG assets have increased 300% during the fiscal year.
- Company operations are completely self funded and will continue to as MCIG believes Convertible debt is detrimental to shareholders.
- Convertible debt free balance sheet.
- Gross Profit increased by 118% for the quarter and 29% for the six month period ending October 31, 2016 as compared to the same periods in 2015.
- MCIG reported its first net income profitable quarter and its second consecutive profitable adjusted net income quarter.
- Each reporting operational segment was profitable.
- The company has gained over $200K in excess working capital for the fiscal year.
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