Headquartered in Henderson, Nevada, mCig Inc. (OTCQB:MCIG)
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB:MCIG) continues to enhance its organization through servicing the lawful cannabis, hemp and CBD markets through its way of lifestyle brands.
MCIG has transitioned from a vaporizer maker to industry driving substantial scale, full service cannabis development organization with its Scalable Solutions division at present working in the quickly growing Nevada market.
MCIG was in the top 5 of all marijuana stocks five years ago. Since then its popularity has weakened.
The company’s share price currently trades around $0.029 per share with average daily volume of 225,070 shares. Its outstanding shares are standing around 326,755,392, while authorized shares are at 560,000,000.
It recently announced very strong results for fiscal year 2016. The company generated a revenue growth of almost 238% to $1,723,241, compared with the revenue of $509,957 in the same period of last year.
Its gross profit margin also enlarged 169% to $290,773 in fiscal 2016, compared with the gross margin of $108,051 in fiscal 2015
Mike Hawkins, Interim Chief Financial Officer, stated, “We are extremely pleased with the direction and performance of MCIG. We will be hosting our second quarterly shareholders update call on September 20, to discuss its operations and first quarter results of the new fiscal year.
Fiscal 2016 was been much better for shareholders of mCig Inc (OTCMKTS:MCIG) than 2015. There are a number of factors driving this optimism. Most importantly, investors look to have finally gotten over the hangover from the pot stock crash of 2014 and are looking to take advantage of the coming Green Rush 2.0, which looks to be starting this year.
Fiscal 2016 remained a strong years for shareholders of mCig compared with 2015. There are various components driving this positive thinking. Above all, speculators hope to have at last gotten over the after effect from the pot stock accident of 2014 and are hoping to exploit the coming Green Rush 2.0, which appears to begin this year.
Now in 2019 MCIG is struggling and showing why a lot of investors stay away from penny stocks. If the toxic debt notes can stop there may be a chance this stock can recover.