Marijuana Company of America Inc. (MCOA)

[SUSC]

Good article......

http://mmjreporter.com/marijuana-company-of-america-otcmktsmcoa-reports-strong-sales-as-expansion-strategies-pay-off-39381.html


Marijuana Company Of America (OTCMKTS:MCOA) has announced its second-quarter 2019 hempSMART products sales as well as provided other financial highlights. The company reported a 633.5% year-over-year growth in total product sales.

Marijuana Company of America expects to maintain growth momentum in Q3
Marijuana Company of America CEO, Donald Steinberg, stated that the Q2 2019 had been the most successful quarter for the company to date at hempSMART. He added that the company has continued with the momentum in the third quarter with strong sales, and in July the company managed to generate gross sales of more than $100,000.

The CEO states that the company expects to see significant demand in the coming quarters for its exceptionally formulated hempSMART CBD product brand. The company plans to continue its expansion of the hempSMART brand across the US and also globally in the European market.

MCOA subsidiary generates revenue in its first year
The company has witnessed its expansion strategies starting to pay off. The marijuana company recently announced that its joint venture subsidiary Cover Bridge Acres Ltd had started generating revenue. The subsidiary reportedly generated $525,500 through operations at its hemp farm in Oregon in its first year of operation. The revenue generated was through sales of plantlets, raw biomass, CBD oil and distillate derived from a several processing test runs including other operations.

In a most recent transaction, the subsidiary sold around 10,000 lbs of biomass at an extraction facility in Oregon. The team is currently working together with the party as well as others to finalize the purchase of the rest of the inventory.

The company expects to harvest a large quantity of biomass this year from the hemp farm in Scio, Oregon. The 2019 yield is expected to be more compared to last year because of enhanced genetics to the crop, early planting which means a longer growing season as well as having more plants on the ground. The MCOA joint venture subsidiary planted around 22% more plants in the farm compared to last year.