Marijuana Company Of America Inc(OTCMKTS:MCOA) is moving steadily higher since reversing off $0.0014 lows in recent weeks. MCOA has been around for years and has a long history of explosive moves so when this one heats up; investors pay attention.
MCOA is fully reporting OTCQB and trading well under a penny and boasts growing sales as hempSMART products gain traction. Total revenues of hempSMART products were $695,076, for the year ended December 31, 2019, as compared to $252,135, for the year ended December 31, 2018, representing a significant 175.7% increase year to year.
Marijuana Company Of America Inc(OTCMKTS:MCOA) and subsidiaries isbased in Escondido, California and is in the business of developing, manufacturing, marketing and selling of non-psychoactive industrial hemp, and hemp-derived consumer products containing cannabinoids with a THC content of less than 0.03%.
MCOA current hempSMART™ wellness products offerings include hempSMART Brain™ a proprietary patented and formulated personal care consumer product encapsulated with enriched non-psychoactive industrial hemp derived CBD. This encapsulation is combined with other high quality, proprietary natural ingredients to compliment CBD to support brain wellness. hempSMART Pain™ capsules formulated with 10mg of Full Spectrum, non-psychoactive CBD per serving, derived from industrial hemp, which along with a proprietary blend of other natural ingredients, delivers an all-natural formulation for the temporary relief of minor discomfort associated with physical activity. hempSMART Pain Cream™ each container formulated with 300mg of full spectrum non-psychoactive CBD derived from industrial hemp. The newly developed product contains a synergistic combination of natural botanicals and full spectrum hemp extract featuring CBD, CBG and a broad range of terpenes. The Company’s proprietary blend of Ayurvedic herbs along with Menthol, Cayenne Pepper Extract, Rosemary Oil, Aloe Gel, White Willow Bark, Arnica, Wintergreen Extract and Tea Tree Oil, provides an immediate cooling and soothing sensation. This topical wellness consumer product is formulated to help reduce minor discomfort and promote muscle relaxation on areas that it is applied.
hempSMART Drops™ full Spectrum Hemp CBD Oil Tincture Drops, available in 250mg and 500mg bottles, enriched with non-psychoactive industrial hemp derived CBD, and available in four different flavors: lemon, mint, orange and strawberry that is free of the THC isolate. hempSMART Pet Drops™ for cats and dogs, formulated with 250mg of full spectrum non-psychoactive CBD derived from industrial hemp. This new specially formulated product contains naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, fractionated coconut oil, and a rich bacon flavor. hempSMART Face™ a nourishing facial moisturizer combines full spectrum CBD from hemp, with a unique blend of Ayurvedic herbs and botanicals. Designed to refresh, replenish and restore the skin providing long lasting hydration and balance.
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Microcapdaily first reported on MCOA in October 2016 commenting at the time: “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.
In May MCOA reported audited financial results for the year ended December 31, 2019, as reported in its annual report on Form 10-K. Here are some of the notable highlights for the FY2019: Total revenues of hempSMART products were $695,076, for the year ended December 31, 2019, as compared to $252,135, for the year ended December 31, 2018, representing a significant 175.7% increase year to year. During the year the Company expanded hempSMART sales internationally by initial marketing to several new countries in Europe in 2019 and organizing the signing up of affiliates in several foreign countries.
Earlier this year MCOA secured a $10,000,000 equity line of credit from White Lion Capital, LLC, a millennial run equity fund, based out of Los Angeles that makes investments into growing public companies.
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Currently on the move northbound since reversing off $0.0014 lows MCOA is an exciting story developing in small caps; its hempSMART are gaining traction quickly and the Company recently reported sales from hempSMART products were $695,076, for the year ended December 31, 2019, as compared to $252,135, for the year ended December 31, 2018, representing a significant 175.7% increase year to year. The Company also just secured a $10 million credit line from White Lion Capital, LLC. 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.