Boy, you've been just a font of misinformation the past few days...
1.) Regarding:
Funny how they paid off Sassano after they filled a suite for stock manipulation and trying to prevent them from selling their restricted shares.
From the 10-Q...
The Company subsidiary, Grow Contractors, Inc., along with the Company and its officers was sued by APEX Management, LLC and Apex Operations, LLC (the "Solaris" project) for the return of approximately $600,000 in cash paid for services they allege were never provided. We have countersued for the payment of approximately $425,000 in services provided that have not yet been paid for. In addition, we have sued both Michael Sassano and Ronald Sassano individually for their roles in the alleged actions. The cases were settled in August 2019, which results have been reflected in this annual filing. The case files were sealed by the state and federal courts for the protection of all parties...
...The Company issued 500,000 shares of common stock to Zoha Development, LLC, owned by Ronald Sassano, as stock based compensation with an effective date of January 6, 2020."
The shares given to Sassano were worth roughly $11,500 (average pps on that day was about $.023/share)
2.) Regarding:
Mcig lost 500k last quarter paying insiders.
No salaries are recorded in the 10-Q for last quarter.
3.) Regarding Paul scamming the company:
Major tranafer of $3m shareholder equity to insiders.
From the 10-Q...
Note 14. Related Parties and Related Party Transactions
The Company entered a Line of Credit with Paul Rosenberg (see Subsequent Events) for up to $100,000 in funding on May 1, 2016. During 2016, the Company had various transactions in which Paul Rosenberg, the Company’s CEO and Chairman of the Board personally paid expenses on behalf of the Company. As of April 30, 2018, the Company borrowed $173,312 from Paul Rosenberg. On May 1, 2018, the Company increased the amount of the Line of Credit and Convertible Promissory Note for up to $250,000 in funding by Paul Rosenberg to accurately record the day-to-day transactions of the Company and Paul Rosenberg. In February 2019 we increased the line of credit to $1,000,000. On August 1, 2019 the Company entered into a settlement agreement with Paul Rosenberg. The Company transferred the 80% ownership of CAAcres, Inc., with a book value of $414,105 to Paul Rosenberg in exchange for eliminating the debt of $1,221,871 that was owed under the Line of Credit Agreement as of July 31, 2019. The Company recorded the $907,766 forgiven by Paul Rosenberg as a gain on the sale of an asset. This transaction was not an arms length transaction; however, the benefits were clearly favorable to MCIG. Since August 1, 2019 the Company has borrowed an additional $41,930 from Paul Rosenberg to sustain operations....
...On October 23, 2019 Paul Rosenberg retired 30,000,000 shares of common stock.
On January 31, 2019 the Company entered into a settlement agreement with Paul Rosenberg and Michael Hawkins (who is no longer a related party). MCIG owed Paul Rosenberg $295,724.99 in accounts payable and owed Michael Hawkins $129,140.21 in accounts payable. Paul Rosenberg and Michael Hawkins forgave these balances in exchange for the assignment of the $100,000 senior secured loan owed by Redfern BioSystems, Inc., to MCIG and the VitaCig assets (websites and trademarks), in which the Company was no longer conducting business. The book value of the VitaCig assets was $27,931. The Company recorded the difference between the amount it owed to Paul Rosenberg and Michael Hawkins and the value of the assets it transferred as a gain on the sale of an asset. This transaction was not an arms length transaction; however, the benefits were clearly favorable to MCIG.
...So tell us again how Paul is ripping off shareholders please?
4.) Regarding:
it's going tutu sub 2 as they continue to dilute and pay insiders.
From the last three 10-Q's
As of February 15, 2019, the Company had 516,624,596 shares of common stock,...
As of December 15, 2019, the Company had 488,624,596 shares of common stock,...
As of March 15, 2020, the Company had 503,374,596 shares of common stock,
How is it then that there are fewer outstanding shares today then last February???
