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Wednesday, August 02, 2017 3:21:47 PM
HENDERSON, NV--(Marketwired - May 15, 2017) - mCig, Inc., (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical cannabis industry is pleased to announce some highlights of its year-end financial results:
Net Sales increased to $4.5 million, a 158% increase year to year comparison, and a 1,294% increase for the 4th quarter compared to same period last fiscal year
Net income of $1.5 million compared to a $1.4 million loss from the previous year, and an increase of $2.9 million net earnings
Cash and cash equivalents of $1.6 million compared to $0.1 million from the previous year (a 1,369% increase), and a 400% increase from last quarter. mCig generated $2.1 million in cash from operating activities
mCig assets increased to $6.8 million, having 6 times more assets than it does liabilities
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