Thursday, June 01, 2017 7:03:06 PM
Nor does a company like MCIG deserve a PE of 40x earnings.
That's like the $80 mil projection for OMHE, and the "conservative $10 mil" projections that have been made at least twice before.
First of all the last CC (from memory; since MCIG FAILED to post the recording of the CC) projects ~$8 mil for the new FY.
The "construction backlog" may never come to fruition at all, since noone knows what the actual terms of any of the contracts. Secondly, it's been 2 years and MCIG still has not completed a single phase of construction. It could take 2 or more years to get to any Phase II construction.
Secondly, MCIG has never met their projections.
With such a shady reputation, MCIG needs to be specific about the revenue, quarter, and project that the revenues are actually coming from.
Considering that they have no filling services, no Rollie's, 5 dead projects, and a FAILED CR(APP) that is free, and MCIG doesn't own Weed* or 420j***, and all those contracts for VitaCig MOQ contracts likely went out the window when it was sold from OMHE back to MCIG.
Increased competition in construction biz.
No way MCIG is going to be successful selling equipment/supplies to dispensaries - since those faux 95 salespeople and faux 300+ US Wholesale Distributors FAILED to sell even a single retail account.
Business Model is working great though. Pay insiders any which way you can at the expense of shareholders. MCIG insiders are doing a great job with that.
Wonder how much MCIG paid for the CR(APP) and 420** website? $400+k??
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