Marijuana Company Of America Inc(OTCMKTS:MCOA) has formed a strong support at a nickel in recent weeks on moderate volume. The stock saw a spectacular rise leading up to the elections last year from sub pennies to highs of $0.1985 a share before it collapsed. Many in the sector have come back from their November lows as Investors realized Trump was in fact good for stocks however MCOA has not made that comeback yet.
MCOA operates in the the red hot Marijuana industry has quickly turned into a multi-billion dollar massive growth market that is sweeping across the Country with many new states legalizing the drug including California, Nevada, Maine, and Massachusetts on November 8. Medical marijuana products in the U.S. alone are projected to generate an estimated $30-35 Billion in revenue by 2020.
Marijuana Company Of America Inc(OTCMKTS:MCOA) bills itself as a publicly traded company headquartered in Southern California. MCOA will distribute marijuana and products related to marijuana as well as CBD and hemp, using a variety of marketing approaches to distribute on a global basis.
MCOA describes itself on its website as a cannabis marketing and distribution company that will be the first to distribute a wide range of high quality marijuana products via a unique distribution and marketing platform.
The Company provides a wide range of products and services all dedicated to educating and supporting our patient/members in obtaining all the benefits of a cannabis lifestyle. We are developing a knowledge base complete with information from subject matter experts, medical articles and opinions, current articles, YouTube and other videos, blogs, and industry news and papers.
MCOA is dedicated to transferring knowledge to our patient/members to allow them to become their own advocates. We will provide comprehensive information on popular and rare strains, and other processed products that will be available through the MCOA club. We will track industry and consumer information and post to our social media and online knowledge base.
Back in August MCOA launched the HempSmart brand and line of products. The first HempSmart branded CBD based product called “HempSmart BRAIN,” formulated to promote brain health, has entered the manufacturing process and is expected to ship by September 30, 2016.
This is a “first-of-a-kind, patent pending” new product that combines nootropic benefits with the additional cognitive enhancing benefits offered by CBD. Our team has developed a unique proprietary product with a water-soluble CBD base to enhance bioavailability that includes supporting ingredients that are proven cognitive enhancers.
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In October MCOA announced the prelaunch of the hempSMART Brain product has commenced. hempSMART Brain was developed to address the increase in neurologic and neurodegenerative challenges that have prompted a surge in scientific research on prevention and/or reversal of brain and nervous system pathology. A variety of natural products have been shown, in clinical trials, to improve neurological and cognitive function and there has been a surge of products being marketed to improve brain function. While the efficacy of some of these blends has been impressive, many utilize trace amounts of therapeutic ingredients, inadequate for any clinical effect.
On March 28 MCOA announcd its PCAOB auditors have completed a two year audit of the Company’s financial statements for the years ended December 31, 2015 and 2016.
MCOA’s SEC legal counsel is now finalizing a Form 10 registration statement for filing with the Securities and Exchange Commission. After the registration statement becomes effective, and the Company’s common stock is registered with the Commission, the Company will apply to uplist its trading tier with OTC Markets to the OTCQB exchange. Completing the two year audit is an integral step in successfully filing a Form 10 registration statement. This significant step has been completed to enhance long-term shareholder value, and attract a broader and more diverse shareholder base, including more institutional investors.
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Currently trading at a $75 million market valuation MCOA has minimal cash or revenues and rising short term debt. But MCOA is an exciting story in small caps that is led by seasoned CEO in Donald Steinberg the man behind MJNA back in its hay day. MCOA is very well positioned to cash in on the Marijuana craze and has been highly successful in quickly attracting a large shareholder following who is currently bidding this one up. We will be updating on MCOA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MCOA.
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Disclosure: we hold no position in MCOA either long or short and we have not been compensated for this article.