marijuanavest whats the date on that interview? Also would like to thank AB for the excellent interview. Really drives home the point that MCIG is low debt, by now No debt, lean operations. Great Product, Real sales, real revenue, real profits, and most important NO DILUTION.
Lots of good info for investors
Paul: We believe that intellectual property protection for these devices is important but secondary to being a first mover and developing brand recognition. That is why we have applied for a trademark for the term "mCig" for any use relating to eCigarette or heating devices.
an innovator re-examining how a conventional eCig works and re-engineering that technology for a totally different market that was underserved and ignored by the eCig companies. That is really the essence of what the mCig is, and what we stand for as a company.
Paul: We are running a very lean operation. I take no salary from the business, and we have no debt or interest costs. In fact I am self-funding most of the business at this stage and if we do take in capital it will most probably be in the form of straight common equity. I strongly oppose convertible debt financing and am puzzled as to why a CEO who believes in their business would elect to engage in that type of financing.
Given our current fixed costs we would probably have to sell between 30-50k mCigs a year to break even as an enterprise.
I worry more about our twitter followers and engagement than I do about our margins currently and that is why have a full-time team doing social media nearly 24/7 as opposed to a full-time team of number crunchers. The ultimate market opportunity is to have the mCig become a verb when someone describes heating plant material electronically.
We will rotate into a full-scale launch towards the end of Q4 of this year with the introduction of the next generation mCig (improved cleaning mechanism, battery life, same price) around January 2014.
Our manufacturing partners have the capacity to produce as many as 100-200k mCigs per month
Alan: I know you have a different way of viewing the share-count than I do. We can both agree, though, that your decision to turn the vast majority of your common shares into preferred stock which can't be converted back into common stock for the next year is shareholder-friendly. Can you explain why you did this?
Paul: We were receiving an overwhelming amount of emails about the high share count. I felt the figure was flawed because I had no interest in selling any stock any time soon so I converted my common shares into super voting preferred shares while keeping around 10% of my original common position.
we are focusing on is celebrity endorsements.
Investors have to do their own due diligence and separate the companies that are simply riding the trend from the companies that are first movers, innovative, and aligned with shareholders.
I set out to start mCig because I thought there was an opportunity to build something for the long-term. If you compare how our company is structured relative to others in the space you can see the difference:
While most of the MMJ stocks have yet to file audited financials, mCig has.
While most of the MMJ stocks aren't SEC regulated and trade on the pink sheets, MCIG is both SEC regulated and trades on the OTC BB exchange which has higher listing requirements.
While nearly every MMJ Stock out there has significant insider selling, I have done the exact opposite by locking up 90% of my stock position and reducing the common share count.
While most MMJ Stocks have convertible debenture financings leading to significant dilution with no floor, I have made it clear that I oppose such financings and have personally funded the business with my hard earned capital.
While most of the MMJ stocks sell a service or product that is esoteric or conceptual and requires excessive regulation or expertise to validate, mCig provides investors with exposure to the industry via a tangible product they can order themselves and enjoy.
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