Comeback Time for Marijuana Company Of America Inc(OTCMKTS:MCOA)

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Marijuana Company Of America Inc(OTCMKTS:MCOA) is looking for a reversal off the $0.01 mark. The stock has a long history of explosive moves over the past few years the biggest of which was  in 2016 when it ran from sub pennies to highs of $0.1985 a share before it collapsed.

Marijuana Company Of America Inc(OTCMKTS:MCOA) is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART(TM)”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreations use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.

At the end of last year MCOA and Global Hemp Group, Inc announced a joint venture to develop commercial hemp production on the Acadian peninsula of New Brunswick, Canada. MCOA also announced a partnership with Global Hemp Group, Inc acquired a 109 acre agricultural property in Scio, Oregon for the cultivation of high CBD yielding hemp for the upcoming 2018 growing season. The property was chosen because of its history of growing hemp as well as having sufficient authorized water rights to allow for irrigated cultivation. The property, located in the fertile Willamette Valley approximately 70 miles south of Portland, Oregon, was acquired for US$1.1 million in stock and cash.

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Last month MCOA announced its wholly owned subsidiary hempSMART™ attended special promotional events for its CBD infused product line during Super Bowl LIII this past weekend. The events included Ray Lewis’s “Ray of Hope” Foundation’s Gold Jacket for a Purpose event, and a special presentation at the Ice Box Club in Atlanta. A number of professional athletes, NFL coaches, actors, musicians and other persons of interest attended the events and were given samples of the Company’s hempSMART branded products, including hempSMART™ Brain and hempSMART™ Pain Cream.

Some of the notable attendees were Ray Lewis, Deion Sanders, Andre Reed, Marshawn Lynch, Tyreek Hill, Larry Fitzgerald, Terrell Owens, Candance Parker, Jon Stewart, Andre Reed, Quincy Jones, Malcolm Jenkins, Von Miller, Brandon Marshall, Eddie George, Adrian Peterson, Maroon 5, and the Backstreet Boys.

On February 26 MCOA announced the United States Patent and Trademark Office issued the Company a patent for the formulation of its flagship CBD product, hempSMART™ Brain. hempSMART Brain is a wellness product formulated with a proprietary composition of natural ingredients and cannabidiol (CBD) for the enhancement of brain function. The U.S. Patent Office issued patent number 10,201,553. To view the patent on hempSMART™ Brain visit the link here.

Dianna Steinberg, Head of Product Development commented, “This patent represents the hard work of the whole team involved in this formulation.  Their invaluable insight into the goal of using CBD with additional supplements in a synergistic fashion to produce a fabulous product is a tribute to their dedication.”

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Currently trading at a $29 million market valuation MCOA has just $67k in the treasury and significant debt on the books. The Company has small but growing revenues reporting $90,276 in sales for the 3 months ended September, 30 2018. MCOA is currently operating in the hottest sector in the market and has been making some big movers in recent months. MCOA is led by seasoned CEO in Donald Steinberg the man behind MJNA back in its hay day and has been highly successful in quickly attracting a large shareholder following. Once investors see REAL crop yields this one could really run. 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.

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