Bots Inc (BTZI)

[Jaybay]

http://www.smallcapnetwork.com/Small-Cap-Marijuana-Stocks-Aiming-for-a-High-With-News-MCIG-FRTD-SKTO/s/via/21051/article/view/p/mid/1/id/310/

Small cap marijuana stocks mCig Inc (OTCBB: MCIG), Fortitude Group Inc (OTCMKTS: FRTD) and SK3 Group Inc (OTCMKTS: SKTO) may not come to mind when you think of marijuana but all three had plenty of news last week as they join the small cap party that’s trying to cash in on being connected with the sector. But just how newsworthy was their news and will these small cap marijuana stocks generate a high for investors? Here is a quick reality check:

mCig Inc (OTCBB: MCIG) is Set for a Spinoff

Small cap mCig Inc is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes; and (2) The adoption of electronic vaporizing cigarettes (commonly known as "eCigs") by the world's 1.2 Billion smokers. On Friday, mCig Inc rose 7.49% to $0.459 for a market cap of $123.97 million plus MCIG is up 91.2% over the past year and down 46% since October 2012 according to Google Finance.



What’s the Catch With mCig Inc? According to various disclosures, no transactions have occurred to mention mCig Inc in various investment newsletters. Last Friday, mCig Inc announced that it had updated its investor presentation for the month of March 2014 while on Tuesday, the company updated its shareholders on the status of the VitaCig, Inc Spin-Off and Pro-Rata Dividend. On February 24, 2014, mCig Inc’s Board of Directors approved a stock dividend that would result in the spin-off of VitaCig, Inc. to mCig Inc shareholders on a 1:1 basis resulting in 1 share of VitaCig, Inc paid as a dividend to every owner of 1 share of mCig Inc. The update also noted that the VitaCig, Inc audit is close to completion and the company itself is set to launch as an independent company on April 15th, 2014 retailing Relax, Refresh and Energize sold in $6 packs of 3 VitaCigs. The Chairman/CEO noted:


While we must wait until VitaCig, Inc. becomes a public company before assessing the ultimate benefit to us, I am confident that this move will result in mCig, Inc. being the first company in the "Marijuana Index" to qualify for an uplisting to NASDAQ Capital Market or NYSE Euronext MKT, LLC exchanges. We have always stated that this was one of our objectives and we will strive to achieve this goal over the course of 2014 or 2015.

A look at mCig Inc’s financials reveals revenues of $13k (most recent reported quarter), $13k, $13k and $13k for the past four quarters along with net losses of $20k (most recent reported quarter), $7k, $5k and $1k. At the end of October, mCig Inc had $14k in cash to cover $81k in current liabilities. Given those financials, its safe to say that uplisting to the NASDAQ or the NYSE won’t be happening any time soon.