mCig Inc (OTCMKTS:MCIG) continues to make new lows in recent weeks on accelerating volume. The stock has a long history of big moves running from under a penny to highs over $0.90 the last time the sector got hot.
On July 27 MCIG announced the Company is now offering a complete range of financing services for marijuana growers and dispensaries. This program is designed to provide cannabis entrepreneurs with easy access to much needed startup and operational capital necessary to develop their business and underscores mCig’s commitment to not only seek out innovative products and distribute them, but now even help the industry to buy them.
mCig’s flexible loan programs are designed for businesses that have been turned down for conventional bank loans due to banks’ refusal to loan to cannabis companies and ensures investment capital is quickly and affordably available with minimal paperwork and no asset collateral. mCig has partnered with a third-party lender with expertise in sub-prime debt lending, eliminating any risk to mCig. Loan caps at $150,000 per signature, but there is no limit to signatures per business and are structured similar to a credit card to help finance equipment and most startup needs for entrepreneurs in the cannabis industry.
mCig Inc is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants.mCig Inc (OTCMKTS:MCIG) owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. The company believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the CBD and Hemp industries following overwhelming consumer demand.
The press release continues ”mCig is also in the final stages of bringing the exciting, innovative, brand-new organic em-j product to market. em-j, which is infused with Cannabidiol (CBD), is one of the many products that the mCig pharma division has developed using CBD (a list which already includes a successful line of oils, tanks, and waxes). The highly anticipated em-j product will be available to customers in a few weeks, after a delay to further refine the formula used in the new product. mCig made the decision to delay the product release to ensure that the final em-j product brought to the market met the standard applied to all products in the mCig line, and mCig now has the capacity to be able to bring similar products to market much more quickly.
The mCig construction division has its first project entering into contract, an exciting milestone for the division which should prove to be a launching board to capitalize on the multitude of opportunities found in this rapidly growing space.
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The mCig extraction division has begun production of our first Supercritical CO2 extraction unit, which will provide a high-performance, commercial-grade product for customers. This effort is being led by the mCig Chief Research and Development Officer Mike Snody, who has extensive experience in this space through his 25 years with Exxon Co. USA, building offshore platforms, pressure vessels, pipelines, and refineries throughout the US, Russia, Mexico, and Japan.
In other exciting innovation news, the mCig technology division has finally finished the Ultrasonic which is currently being priced for production, mCig is close to finalizing our first software partnership, and is working to find solutions to solve payment and financing issues for legal growers and dispensaries through an innovative exchange using bitcoin.
Back in March MCIG made a strategic investment in the Native Cannabis Trade Organization to jointly educate, council and market to Native American Tribes in key states around the country. NCTO works with Native American Tribal communities to assist in joint venture agreements to build out growing facilities on reservation lands using the most current growing technology along with providing capital funding.
The educational outreach program will serve to advise Native American Tribal communities in creating a thriving marijuana industry. The federal government has recently acknowledged Native American Tribal sovereignty in the marijuana business, leading the way for the creation of thousands of needed new jobs and revenues within the Tribes.
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Currently trading at a $24 million market valuation MCIG does have $200,000 in the treasury and virtually no debt. The Company has small but growing revenues reporting $88,119 in sales for q1 2015. But this is an exciting story developing in small caps with a management team focused on creating shareholder value and building a profitable Company over the long run. We will be updating on MCIG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MCIG.
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Disclosure: we hold no position in MCIG either long or short and we have not been compensated for this article.