MCIG News 01/17/2017 - 0.38
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mCig, Inc. $MCIG News
Last updated 01/17/2017 - 0.38
mCig On Track For Best Quarter In Its History
Dec 21, 2016
OTC Disclosure & News Service
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mCig On Track For Best Quarter In Its History
HENDERSON, NV--(Marketwired - Dec 21, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today that it is on track to deliver the "best quarter on record" to its shareholders. In the recent shareholder conference call held December 19, 2016 the company covered many key points of the business operations culminating in the fact that MCIG has surpassed last quarter's historical earnings statement, by exceeding the total revenue for the previous quarter half way through our current quarter. With January's projected revenue numbers, MCIG is scheduled to deliver its best quarter in its history. Some of the key points made by management during the shareholder update call include:
- All three operating segments, construction, wholesale, and retail were profitable, self sustaining and projected to maintain upward trend.
- Construction/consulting division has become MCIG's most profitable division, with expectations of a continued trend as Nevada Cultivators scale operations to meet recreational demand within the state.
- Our wholesale e-Cig and CBD segment is still robust, profitable and positioned exceptionally well in international & US markets.
- Established a new wholly owned subsidiary, Grow Contractors Inc., to oversee construction segment with Rob Kressa, a 10 year cannabis industry veteran appointed as the CEO of Grow Contractors Inc.
- MCIG in negotiations to acquire Medical Marijuana Establishment ("MME"
licenses in Nevada.
- MCIG currently has over $10 million in order/contract backlog
- MCIG, in joint venture with Sangreen International, to launch a new "Build your own greenhouse website" at www.growcontractors.org in the next few weeks, along with corresponding mobile app.
- MCIG model considers acquiring, growing, incubating, operations in the cannabis space, with the ultimate intention to spin-off as it did with VitaCig, now Omni Health, Inc.
- OMHE investment is currently valued at over $1.5 million, which MCIG expects to be an appreciating asset over time or as a read to use reserve for the company mandates.
- VitaCig e-Cig division continues its domination of the international e-Cig business. Its recently expanded operations in Europe with plans to penetrate South Africa, and South America.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. Releases August October 2016 Quarterly Financial Results
Dec 12, 2016
OTC Disclosure & News Service
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mCig, Inc. Releases August October 2016 Quarterly Financial Results
Announces Conference Call to Discuss Operations, Recent Developments and Growth Plans for the Future
HENDERSON, NV--(Marketwired - Dec 12, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today that it will be filing its second quarter financial report with SEC after the close of financial markets on Monday, December 12, 2016.
Highlights include:
MCIG assets have increased 300% during the fiscal year.
Company operations are completely self funded and will continue to as MCIG believes Convertible debt is detrimental to shareholders.
Convertible debt free balance sheet.
Gross Profit increased by 118% for the quarter and 29% for the six month period ending October 31, 2016 as compared to the same periods in 2015.
MCIG reported its first net income profitable quarter and its second consecutive profitable adjusted net income quarter.
Each reporting operational segment was profitable.
The company has gained over $200K in excess working capital for the fiscal year.
Mike Hawkins, Chief Financial Officer, stated, "MCIG continues to outperform internal expectations while gaining significant market share with our division's multiple verticals. Management's expectation of profitability for the third quarter was realized in the second quarter & the balance sheet continues to grow while profits are actualized. Management is extremely pleased with the direction and performance of MCIG in advance of internal projections." Mr. Hawkins went on to say, "We will be hosting our next quarterly shareholders update call on December 19, 2016 at 4:00 PM to discuss our historic quarterly results, momentum we are seeing in the now completely legal cannabis market of Nevada as well as Recent Developments and Growth Plans for the Future."
"MCIG's rapid business growth & development has necessitated our need to effectively communicate with our shareholder base. We understand the importance of sharing recent events with our shareholders to ensure they have a thorough understanding of our vision and the growth opportunities we have positioned ourselves & shareholders for. With new markets within the United States & abroad that have opened up we feel we have a competitive advantage within the industry and we want to communicate this with our shareholders," stated MCIG CEO Paul Rosenberg. Further details will be provided.
MCIG management will answer investor questions submitted at info@mcig.org
To participate by telephone, the domestic dial-in number is +1 (712) 451-0011. The access code is 889964.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to an industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, Adjusted Net Income, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. Adjusted Net Income should not be considered as a substitute for net income.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Division Expands International Market
Nov 28, 2016
OTC Disclosure & News Service
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mCig Division Expands International Market
Signs Agreement for European Distribution worth $2M over Next Three Years
HENDERSON, NV--(Marketwired - Nov 28, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today its VitaCig Division continuing its international expansion by securing a three year distribution agreement for Europe with a minimum purchase of $2M over the next three years.
Fresh off the heels of closing a $1.3M three-year contract for Japan, the VitaCig Division has closed yet again another lucrative international contract, this time for the European Union, including Russia.
CEO Paul Rosenberg comments, "I am extremely pleased to announce our agreement with Mr. Jozsef Fuzesi, CEO of Nefeloma Trade LTD for the distribution and sale of our premier VitaCig line of products in both Europe and Russia. Focusing on international expansion is a key path for long term growth and success."
New VitaCig International Partner, Mr. Jozsef Fuzesi, comments, "I am extremely excited about the new partnership with mCig and VitaCig, the maker of the original Vitamin Vaporizer. I am honored to have the ability to offer a healthier alternative to tar and tobacco based products, and taking into consideration the overwhelming initial interest, we are looking forward to a very lucrative partnership."
With this contract, mCig continues to add to its IP and asset portfolio with VitaCig mark now protected in Europe and Russia.
Lastly mCig/VitaCig is pleased to announce the launch of its VitaCig® Excalibur Rechargeable Capsule System. Delivering the next generation of VitaCig inhalation science and technology, the VitaCig® Excalibur features a unique, advanced twist on pre-filled capsule design. Producing an even smoother, rich, dense vapor than its disposable counterpart, along with its sleek, classy design, the VitaCig® Excalibur is the perfect extended pleasure at home, on the go, or with some friends. The VitaCig® Excalibur kit comes with the battery bottom, two pre-filled capsules, one Marvelous Mint, one Boisterous Berry, and an innovative chargeable USB Adapter. The pre-filled flavor capsule liquid is enriched with all the vitamins, essential oils, and natural plant extracts associated with the VitaCig® disposable device. Aromatherapy on the go!
The VitaCig® Excalibur advanced capsule system was created to appeal not just to the beginner vape/e-cig user, as with our VitaCig® disposable product, but also to the moderate user who prefers more of the open tank vaporizers. Keeping with innovation and convenience, our tank capsule system are pre-filled, so there is no mess or waste.
In addition to the VitaCig® Excalibur, with the Holiday shopping season in full swing, VitaCig has also released its Candy Cane -- Special Holiday Limited Edition VitaCig®. Both the VitaCig® Excalibur and our new VitaCig® Candy Cane Holiday Edition make for the perfect gift or stocking stuffer. For more information visit http://www.vitacig.org/
Stay tuned for future updates!
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc., Acquires 17M Shares of Omni Health, Inc.
Nov 22, 2016
OTC Disclosure & News Service
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mCig, Inc., Acquires 17M Shares of Omni Health, Inc.
HENDERSON, NV--(Marketwired - Nov 22, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today it elected to convert its Convertible Promissory Note into shares of Omni Health, Inc., (OTC PINK: OMHE) as of October 31, 2016. The outstanding balance owed, $98,108, including interest, was converted into just over 17,677,058 shares, increasing its current position to more than 75,177,058 shares.
"MCIG had been approached by many companies that wanted VTCQ and we wanted the best deal possible for MCIG and its shareholders. We kept the brands we helped create (Vitacig), kept a sizeable share position, and made a deal with a company that is doing 7 figures in revenue a quarter," said Paul Rosenberg CEO of MCIG, Inc. The significance of the Omni Health, Inc., (OTC PINK: OMHE) deal for MCIG shareholders is the passive investment by MCIG will derive a future cash position for MCIG and MCIG shareholders. At a $0.02 PPS of OMHE, our investment is worth roughly $1.5 million; however the current valuation is based upon the previous VTCQ business and its net losses, while OMHE has just stated a net profit of $1.6M in its first quarter, which will significantly enhance our investment once all information is made public and digested in the market. With $1.6M net profit reported in its first quarter, dividend holders in the old VTCQ now have significantly more revenue stream and profit stream than the previous assets which were taken back into MCIG, mainly the VitaCig product line.
As a shareholder of OMHE, MCIG is happy to unlock value for shareholders by developing great streams of revenues and incubating great businesses like Scalable. Each business division has its own time and growth, and MCIG's time now will focus on the other divisions now that VTCQ is in good hands with a strong management team to guide our ownership.
OMHE will be engaging in its own public relations program to unlock the value for its shareholders, and operate completely autonomous with MCIG. Michael Hawkins has been leading the transition of power team with OMHE to assist new management in a smooth progression from a private operation for more than 40 years to one of a public entity. Mr. Hawkins will be relinquishing his role as the Chief Executive Officer during this period of transition as it is winding down to new management as a natural progression to autonomy.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
About Omni Health, Inc.
Headquartered in Miami, Florida, Omni Health Inc. operates a pharmacy operation in Hialeah, Florida, Malecon Pharmacy. Malecon Pharmacy has been a pillar of the local community since 1974 providing healthcare products, pharmacy operations, prescription drugs, and other services and products in the skin care and anti-aging industry.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
Contact:
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Subsidiary, Scalable Solutions Chosen As The Exclusive Distributor For Sangreen Green Houses
Nov 17, 2016
OTC Disclosure & News Service
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mCig Subsidiary, Scalable Solutions Chosen As The Exclusive Distributor For Sangreen Green Houses
HENDERSON, NV--(Marketwired - Nov 17, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company serving the legal cannabis, hemp, and CBD markets, updates shareholders from the Las Vegas Conference on an industry changing deal that Scalable Solutions has signed an exclusive agreement with Sangreen International Agricultural Technology Co, one of the premier greenhouse manufacturers in the World. The exclusive agreement will allow Scalable Solutions to buy, sell & market Greenhouses for China's largest manufacturer and worldwide distributor of the entire USA Cannabis market.
Greenhouse technology is one of the most "in demand" portions of the sector as they relate to the cannabis and urban farming industries due to their low cost structure and operations. Currently, Cultivators are forced to use high priced greenhouse manufactures, where companies are paying a premium based off of name recognition from firms utilizing the same hot dipped galvanized steel from China or aluminum structures. Rather than pay the premium on a US name mark up, Scalable Solutions & Sangreen will circumvent the middleman while creating the highest quality, lower cost greenhouse that cultivators desire.
"We feel that our exclusive agreement with this world renowned multinational greenhouse manufacture will be great for our industries bottom line as price gauging for the Cannabis greenhouse market becomes a thing of the past. The confidence that Sangreen has shown in honoring MCIG & its Scalable Solutions division with this important contract, is a true testament to the impact we are having in the Cannabis construction cultivation markets. This agreement puts the company into a position to rapidly gain market share as Sangreens United States arm," said Ron Sassano of Scalable Solutions.
"We could not be more proud of our Scalable division. This is a first in Cannabis industry to sign such an important multinational contract with the premier maker of Greenhouses in the World," states Paul Rosenberg, CEO of MCIG, on behalf of Scalable. "We will be supporting this effort by creating 3 models of offerings for the Cannabis industry and dedicating resources to the success of this venture. Greenhouses are the hottest trend in the industry with the two largest US GreenHouse manufacturers being consolidated with a Third. We will price the offering at a discount to other manufacturers, and we will be providing high quality hot dipped galvanized steel with sealed joints, commensurate with top standards."
"Expanding into the growing USA Cannabis market through Scalable Solutions is a strategic move designed to penetrate the current market with a company we feel will be an industry leader, and lead us in this market. This agreement gives us a competitive advantage in the US Cannabis market, thus bringing affordability and quality product to the robust growing markets of the USA," says Spring Zhu, the General Manager for North America of Sangreen. "We have already received one large order from Scalable for the largest and most advanced desert grow in Vegas and are working on a clear and fair standardized offering to streamline bids to consumers and reduce the work load given Scalable's deal flow, and the many other bid requests we have received to date from them."
About Scalable Solutions, LLC
Headquartered in Henderson, Nevada, Scalable Solutions, Inc. is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows.
About Beijing Sangreen Agricultural International Technologies Co., LTD
As a professional greenhouse manufacturer and exporter to almost 40 countries around the world, Sangreen (http://www.sangreentech.com) provides services of greenhouse design, production, and installation. Adding further value, Sangreen offers project consultancy, production suggestions, hydroponic technologies, and turnkey solutions to help customers maximize production and guarantee high yields. The comprehensive services and solutions have made Sangreen a key player in this sector.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. Announces Record Fiscal Second Quarter Net Sales, Net Income, Adjusted Net Income and Adjusted Net Margins
Nov 14, 2016
OTC Disclosure & News Service
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mCig, Inc. Announces Record Fiscal Second Quarter Net Sales, Net Income, Adjusted Net Income and Adjusted Net Margins
HENDERSON, NV--(Marketwired - Nov 14, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today its earnings results for its second quarter of the 2017 Fiscal Year.
During the second quarter, MCIG generated $620,015 in revenue, a 126% increase from the previous quarter. The company reported to be profitable during the quarter and MCIG reported $10,469 in net income, an increase of $675K in its bottom line compared to same period last year. MCIG's adjusted net income for the period was $102,550, an adjusted net profit margin of 20%.
Michael Hawkins, Chief Financial Officer, stated, "For the second straight quarter MCIG has achieved an adjusted net income. This will be a landmark quarter in the history of MCIG as the company achieves a net profit for the first time in its history." He went on to say, "Scalable Solutions, MCIG's construction division grew in net revenue by 200% and achieved profitability, a fiscal quarter ahead of schedule and we expect that Scalable's profitability trend will continue given the recent recreational legislation passed in Nevada. On top of that our Wholesale division increased sales by 248% and leads all divisions with a 27% net income, with other wholesale products like 'Rollies' in production and not accounted for."
Paul Rosenberg, MCIG's CEO, reinforced the excitement at MCIG by stating, "With the recent historic election where 8 of 9 states approved measures to legalize marijuana either recreationally or medically will virtually expand the market we are entrenched in overnight. We are pleased to see that our grassroots & fiscally conservative measures have taken hold and that MCIG is seeing tremendous growth rates at a time when a paradigm shift has just taken place in the cannabis, hemp and CBD markets. We are well positioned, well capitalized and eager to fulfill the requirements of this new, expanded market." He further clarified, "MCIG is not your traditional 'need a lot of cash to grow' company. While sustaining this growth with no toxic debt, we have seen our cash position improve by 27% from the previous quarter. It stands to reason that this trend can continue and potentially be improved significantly with our Scalable Solutions division which is positioned at ground zero of the Nevada & California recreational/medical cannabis markets."
The Company reports all financial information required in accordance with generally accepted accounting principles (GAAP). The Company believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand MCIG's performance that many investors believe may obscure MCIG's ongoing operational results.
For example, MCIG uses non-GAAP net income (Adjusted Net Income), which excludes stock-based compensation, amortization of acquired intangible assets, impairment of intangible assets, costs from acquisitions, non-cash deferred tax provision and litigation and related settlement costs. In addition to Adjusted Net Income, MCIG uses EBITDA, earnings before interest, taxes, depreciation and amortization, to evaluate its operations.
The company believes that excluding certain costs from non-GAAP net income and EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company.
Whenever MCIG uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. The following table reflects the non-GAAP Consolidated Statements of Operations for the three month period and six months ending October 31, 2016 and October 31, 2015, respectively.
For period ending October 31, Six Months ending October 31,
CONSOLIDATED STATEMENT of OPERATIONS: 2016 2015 2016 2015
Net Income (Loss) $ 10,469 $ (663,148 ) $ (142,706 ) $ (1,083,797 )
Interest (1,900 ) (3,108 )
Depreciation and Amortization 13,468 2,070 21,654 4,064
EBITDA 22,055 (661,078 ) (124,160 ) (1,079,733 )
Adjustment for Non-Intangible Asset Depreciation (271 ) - (910 ) -
Stock Based Compensation 102,550 340,501 270,850 686,466
Adjusted Net Income $ 124,334 $ (320,577 ) $ 145,780 $ (393,267 )
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. CEO Provides Corporate Update
Oct 24, 2016
OTC Disclosure & News Service
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mCig, Inc. CEO Provides Corporate Update
HENDERSON, NV--(Marketwired - Oct 24, 2016) - MCIG, Inc., (OTCQB: MCIG) a diversified company servicing the legal cannabis, hemp, and CBD markets is pleased to give this corporate update to our current & future shareholders surrounding the operations of MCIG, Inc. First, let me thank the many investor emails I have received over the past few weeks that have made inquiries as to our product lines as well as our Nevada operations, it is for this reason I am providing this update ahead of what we feel is a pivotal moment for the cannabis industry.
The 2016 elections and cannabis related ballots across the United States are exceptionally important to the continued expansion of the industry and we feel MCIG, Inc. is well positioned at many different market verticals, most notable the Nevada cultivation market. Company divisions are fundamentally healthy and we expect to see revenues continues to grow as overall operations expand and are scaled to meet various forms of demand. Currently, 3 of our 4 divisions are profitable as we continue to focus on this profitability via cost cutting initiatives that continue to improve our margins. Also, our cash position has significantly improved while our expenses remain at all-time lows allowing for a good base for future growth.
MCIG continues to expand our shareholders position within the rapidly growing Cannabis market and we have become even more geographically diverse following the addition of new clients, new products roll outs, and continued market penetration via existing product lines and expanded distribution agreements.
In an effort to keep our investors up to date with everything going on within the company, we want to provide this update for each of our portfolio companies and investments as we prepare to enter into the third quarter.
Scalable Solutions -
After being established in March 2016, Scalable Solutions has quickly become a leader when it comes to Marijuana cultivation construction. Currently, we have five projects under construction and a backlog of more than $6 million dollars. Scalable Solutions will become a main driver of revenues for mCig as the legal cannabis industry continues to grow within its Nevada, which is expected to be a $629.5 million market by 2020. The company is also currently working on smaller projects in Washington and Oregon in various capacities while expanding its base of operation in Nevada.
It is important to note that if Nevada legalizes adult use cannabis on November 8, 2016 we will witness an unprecedented socio-economic impact in a state already shaped and fueled by tourism and entertainment. . That's why we are taking an aggressive approach to contract new projects in Nevada while expanding our professional team of engineers and consultants.
Currently, Scalable's Sin City and Green Leaf Farms projects under contract are ahead of schedule. Both projects will be expanding as the Nevada markets expand to fulfill their eventual maximum space usage for the large land and warehouse they respectively occupy. Sin City will eventually expand from 4,800 square feet to 40,000 square feet and Green Leaf will modify it entire facility in order to occupy all 30,000 square feet of their facility.
Management expects the Solaris project will become the model for future Green Houses which when completed will be the largest approved green house facility in Nevada with room to grow. The current parcel of Land that Solaris occupies is 12 acres, with only 20% currently allocated by the main Solaris Greenhouse. Many licensed producers are planning on scaling their operations as demand increases as it has increased in other markets. Our scalable division has already seen our current projects swell in size and each of our current clients has expanded the construction budgets multiple times, giving MCIG Inc. via Scalable Solutions years of continued project revenue.
Scalable targets a 10% profit margin on its construction, with monthly management fees and performance incentives. This continued growth along with identifying other avenues for revenues and expansion will ensure Scalable's long term viability.
VitaCig Brand
The sale of our flagship VITACIG Brand just had a record breaking quarter as VitaCig continues to expand its operations outside of the united states. VitaCig will soon debut in the Philippines, South Africa, and Hungary. With the recent country additions, VitaCig now exports its product to more than 30 different countries.
Part of that success, is due to our R&D department, who continues to develop the world's most innovative, and unique inhalation technologies and formulas. Within the last few month, VitaCig has released four new concept flavors under the, S-Edition. This Special Line Edition features SURGE B-12 + Energy Complex, SLEEP VitaCig® Edition, Kama Sutra (SEX), STRESS VitaCig® Edition, with 100% real Cocoa, Getting into the Holiday spirit early, VitaCig has just released its VitaCig Candy Cane -- Holiday Limited Edition, the perfect gift or stocking stuffer for this Holiday season. Orders can be placed by visiting: http://www.vitacig.org/
VitaCBD Brand
At the CHAMPS Tradeshow in Denver, Sept. 26-28, 2016 the Company launched its new and improved VitaCBD™ Product Line to Buyer's in the Smoke Shop Industry.
The new line consists of healthy, uniquely blended 250mg, 500mg and 1000mg tinctures... 150mg and 300mg PG Free E-Liquid... 100mg, 500mg and 1000mg Blood Orange Essential Oil Infused Topical Lotion, a complete line of relaxing melatonin and 25mg CBD Edibles, with more in the works.
The CBD Division has begun supplying Raw Hemp-Extracts to other CBD Manufacturing Companies as Cherry Hemp Oil Bulk CBD Supply Co. During its initial two week period of operations the CBD Division logged over $50,000 in sales.
With numerous Distribution Networks with their eye on VitaCBD™, a new Bulk CBD Supply Co., a heavy on-line presence, along with plans for unique, Hemp-Extract Based consumer product development phases, future growth for this new CBD Division should become a significant boost for mCig, Inc. as a whole. Orders can be placed by visiting: http://www.vitacbd.com
Rollies Division -
MCIG's Rollies division recently entered into a partnership agreement with Nevada based company Vellum LLC. Both companies will work together on bringing to the market a new format of smoking papers and cannabis pre-roll filling services to a different marijuana businesses.
Vellum LLC provides pre-roll filling services for two California brand's: Nativ and "Lucy's" using a new JOINT format from MCIG. Collaboration of two companies, already generated more than 1 mil pre-rolled sold.
"MCIG's Rollies division is finally on a roll", says Alex Levitsky the CEO of Rollies. During the past 5 months we have been researching and testing Nevada's marijuana market. We have met with many owners and managers of cannabis cultivation, production and dispensaries businesses. They all were highly impressed with our unique format of pre-rolls. Success of "Nativ" and "Lucy's" have spiked tremendous interest from Las Vegas cannabis businesses. We're in the middle of making a deal with a big cultivator/producer in Las Vegas which will significantly increase our sales volume on papers as well as filling services performed. Now, with joining forces of an experienced management team form Vellum, we would be able to expand our services rapidly to all marijuana legal states across an America.
mCig Internet
The company oversees all retail sales of mCig's products. In May 2016, MCIG developed and approved a multifaceted operational plan for the expansion of its retail sales. The strategy has resulted in significant growth and is based upon these principles:
1. Expand domain name and website presence to capture and use to the Company's advantage the recent and consistent changes in the Google ranking process, seeking guidance and direction from the industry experts and market leaders.
2. Develop and implement internally and externally, a system in which sales to customers can be expedited with secure privacy, yet inherent transparency.
3. Expand product sales to include not just our own proprietary products, but to be the industry leader in CBD sales.
Based upon this research, the Company acquired three specific domain names to use in conjunction with the four domain names it operates. As part of these acquisitions we have some of the best site development, SEO, and analyst in the market available to us who have provided in depth and thorough analysis of all out sites.
With the goal to propel mCig Internet towards domination of the specific industry keywords organically, and not by the conventional paid advertising methods that often prove highly ineffective, mCig Internet strives to control the primary keyword positions, and once achieve, to maintain them, at no additional costs unlike our various competitors.
Additional Updates
Omni Health, Inc. -- While not recorded on the financial statements of MCIG, the Company maintains approximately a 9% interest in the company. Omni Health is the manufacturer and distributor of anti-aging creams and operates a Pharmacy operation in the Miami, Florida area.
Omni Health is conservatively projecting $6M in revenue with an 8% net profit margin for FY 2017. Omni will be more active independently promoting their company as soon as the symbol change is approved, any day now. Realizing value for our shareholders is a must and we have great plans for our position in Omni for our shareholders.
Conclusion
All in all, as previously stated, we feel we have created an environment where our company is a bright spot for the ancillary cannabis and hemp markets. MCIG has clearly reached an important inflection point of controlled expenses, rising revenues, and profitability. While the road was long we chose it not because it was easy, but because it was difficult and shareholder friendly. MCIG's fiscal prudence and the avoidance of toxic debt is what has allowed us to be a diversified investment rather than a fly by night company trying to get it right at the cost of its shareholders. We are poised to flourish, rather than to fade and our corporate philosophy will continue to remain intact for the benefit of our shareholders. The recent retirement of 50,000,000 shares of stock is further testament to this fact and we will be announcing more changes to benefit shareholders as well as update shareholders to the potential impact of the November 8th ballot initiative impact, which we feel one way or another is either good news or great news for MCIG Inc. Thank you for your time.
Regards,
Paul Rosenberg
CEO MCIG Inc.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3071168
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Announces $3.5M Large High Tech Desert Greenhouse Contract With Solaris
Oct 06, 2016
OTC Disclosure & News Service
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mCig Announces $3.5M Large High Tech Desert Greenhouse Contract With Solaris
HENDERSON, NV--(Marketwired - Oct 6, 2016) - Scalable Solutions Inc., a subsidiary of mCig, Inc. (OTCQB: MCIG), the emerging leader in Marijuana Cultivation construction, announces it has entered into an agreement to manage the phase 1 construction of a 24,000 sq. ft. high tech desert greenhouse and a 10,000 sq. ft. production facility in North Las Vegas, Nevada with Solaris. The project has an expected completion date of July 2017 and has a fully funded phase 1 budget of $3,500,000.
Scalable Solutions, Inc., has received $100,000 from Solaris in the form of a non-refundable deposit to begin this project. This facility is completely state of the art and a testament of Scalable Solutions progressive designs & execution. The desert facility is fully automated with the most advanced and efficient agricultural technology available for cultivators in the cannabis space. Scalable Solutions will oversee the construction from start to finish.
"As we begin the first of many phases with projects such as this, we are elated to continue our expansion side by side our current & future clients. These construction projects have the ability to last multiple years as these multi-acre sites are built out to meet growing demand," said Jori Olsen, VP of Sales. "Greenhouse facilities are the wave of the future, especially in an ecosystem as unique as Nevada's. We look forward to many more projects as we solidify our foothold on the indoor and outdoor cannabis cultivation market."
About Scalable Solutions, Inc.
Headquartered in Henderson, Nevada, Scalable Solutions, Inc., is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows, modular Growpod technology for warehouse conversions, and a line of home grow units to fully capture all aspects of Cannabis growers' needs.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Updates Shareholders on Sin City Project
Oct 04, 2016
OTC Disclosure & News Service
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mCig Updates Shareholders on Sin City Project
Project Increases to Over $500k
HENDERSON, NV--(Marketwired - Oct 4, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company serving the legal cannabis, hemp, and CBD markets, updates shareholders on Sin City Phase 1 Project. The project is underway, materials have been ordered, construction has begun, and the project is currently 45% complete. Sin City has grown from an original $200,000 budget to a $500,000 approved and funded project with current add-ons that could see the project grow even higher. Current improvements were upgraded to accommodate a four tier grow system which has been designed, approved, and permitted. These upgrade improvements are in line with management's previous announcements that our construction projects will typically increase in value over the course of construction.
"Now that we have completed the State requirements and approvals process we can move forward with our construction segments. The process from here on will move quickly through this phase and expedite the process for current & future phases. We are proud to announce we are ahead of schedule and expect completion before the end of this calendar year 2016," says Jori Olsen, VP of Sales for Scalable. "As the State of Nevada gets comfortable with these types of approvals, we're seeing faster turnaround of documentation for Scalable Solutions due to our methodical process. This has allowed us to not only be efficient with the time projections related to operations, but has also led to new business opportunities for our experienced team. Scalable's reputation is growing as a construction leader in Nevada and we expect more deals to be announced soon, as well as continued expansion on current projects."
We continue to encourage our shareholders to follow the project under "project update" with video, pictures, and mile marker funding announcements through our website at www.mCig.org.
About Scalable Solutions, Inc.
Headquartered in Henderson, Nevada, Scalable Solutions, Inc., is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows, modular Growpod technology for warehouse conversions, and a line of home grow units to fully capture all aspects of Cannabis growers' needs.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. CEO to Retire 50 Million Underlying Common Shares of Company Stock to the Company Treasury
Sep 28, 2016
OTC Disclosure & News Service
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mCig, Inc. CEO to Retire 50 Million Underlying Common Shares of Company Stock to the Company Treasury
HENDERSON, NV--(Marketwired - Sep 28, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today its Chairman and CEO, Paul Rosenberg, is pleased to announce he has voluntarily returned 5 million Series A Preferred shares, representing 50 million underlying common stock to the company treasury. The process will be completed by September 30th, 2016.
"At MCIG, our shareholders are important to us and by returning 50 million common shares back to the treasury we instantly create additional value to the shareholders & health of the company. The return of these shares demonstrates management's desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an integral part of MCIG Inc.'s long term corporate strategy. By unlocking shareholder value first, we lay a foundation that is poised to grow in our target markets," said Paul Rosenberg, CEO of mCig, Inc.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Last updated 01/17/2017 - 0.38
mCig On Track For Best Quarter In Its History
Dec 21, 2016
OTC Disclosure & News Service
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mCig On Track For Best Quarter In Its History
HENDERSON, NV--(Marketwired - Dec 21, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today that it is on track to deliver the "best quarter on record" to its shareholders. In the recent shareholder conference call held December 19, 2016 the company covered many key points of the business operations culminating in the fact that MCIG has surpassed last quarter's historical earnings statement, by exceeding the total revenue for the previous quarter half way through our current quarter. With January's projected revenue numbers, MCIG is scheduled to deliver its best quarter in its history. Some of the key points made by management during the shareholder update call include:
- All three operating segments, construction, wholesale, and retail were profitable, self sustaining and projected to maintain upward trend.
- Construction/consulting division has become MCIG's most profitable division, with expectations of a continued trend as Nevada Cultivators scale operations to meet recreational demand within the state.
- Our wholesale e-Cig and CBD segment is still robust, profitable and positioned exceptionally well in international & US markets.
- Established a new wholly owned subsidiary, Grow Contractors Inc., to oversee construction segment with Rob Kressa, a 10 year cannabis industry veteran appointed as the CEO of Grow Contractors Inc.
- MCIG in negotiations to acquire Medical Marijuana Establishment ("MME"
licenses in Nevada. - MCIG currently has over $10 million in order/contract backlog
- MCIG, in joint venture with Sangreen International, to launch a new "Build your own greenhouse website" at www.growcontractors.org in the next few weeks, along with corresponding mobile app.
- MCIG model considers acquiring, growing, incubating, operations in the cannabis space, with the ultimate intention to spin-off as it did with VitaCig, now Omni Health, Inc.
- OMHE investment is currently valued at over $1.5 million, which MCIG expects to be an appreciating asset over time or as a read to use reserve for the company mandates.
- VitaCig e-Cig division continues its domination of the international e-Cig business. Its recently expanded operations in Europe with plans to penetrate South Africa, and South America.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. Releases August October 2016 Quarterly Financial Results
Dec 12, 2016
OTC Disclosure & News Service
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mCig, Inc. Releases August October 2016 Quarterly Financial Results
Announces Conference Call to Discuss Operations, Recent Developments and Growth Plans for the Future
HENDERSON, NV--(Marketwired - Dec 12, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today that it will be filing its second quarter financial report with SEC after the close of financial markets on Monday, December 12, 2016.
Highlights include:
MCIG assets have increased 300% during the fiscal year.
Company operations are completely self funded and will continue to as MCIG believes Convertible debt is detrimental to shareholders.
Convertible debt free balance sheet.
Gross Profit increased by 118% for the quarter and 29% for the six month period ending October 31, 2016 as compared to the same periods in 2015.
MCIG reported its first net income profitable quarter and its second consecutive profitable adjusted net income quarter.
Each reporting operational segment was profitable.
The company has gained over $200K in excess working capital for the fiscal year.
Mike Hawkins, Chief Financial Officer, stated, "MCIG continues to outperform internal expectations while gaining significant market share with our division's multiple verticals. Management's expectation of profitability for the third quarter was realized in the second quarter & the balance sheet continues to grow while profits are actualized. Management is extremely pleased with the direction and performance of MCIG in advance of internal projections." Mr. Hawkins went on to say, "We will be hosting our next quarterly shareholders update call on December 19, 2016 at 4:00 PM to discuss our historic quarterly results, momentum we are seeing in the now completely legal cannabis market of Nevada as well as Recent Developments and Growth Plans for the Future."
"MCIG's rapid business growth & development has necessitated our need to effectively communicate with our shareholder base. We understand the importance of sharing recent events with our shareholders to ensure they have a thorough understanding of our vision and the growth opportunities we have positioned ourselves & shareholders for. With new markets within the United States & abroad that have opened up we feel we have a competitive advantage within the industry and we want to communicate this with our shareholders," stated MCIG CEO Paul Rosenberg. Further details will be provided.
MCIG management will answer investor questions submitted at info@mcig.org
To participate by telephone, the domestic dial-in number is +1 (712) 451-0011. The access code is 889964.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to an industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, Adjusted Net Income, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. Adjusted Net Income should not be considered as a substitute for net income.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Division Expands International Market
Nov 28, 2016
OTC Disclosure & News Service
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mCig Division Expands International Market
Signs Agreement for European Distribution worth $2M over Next Three Years
HENDERSON, NV--(Marketwired - Nov 28, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today its VitaCig Division continuing its international expansion by securing a three year distribution agreement for Europe with a minimum purchase of $2M over the next three years.
Fresh off the heels of closing a $1.3M three-year contract for Japan, the VitaCig Division has closed yet again another lucrative international contract, this time for the European Union, including Russia.
CEO Paul Rosenberg comments, "I am extremely pleased to announce our agreement with Mr. Jozsef Fuzesi, CEO of Nefeloma Trade LTD for the distribution and sale of our premier VitaCig line of products in both Europe and Russia. Focusing on international expansion is a key path for long term growth and success."
New VitaCig International Partner, Mr. Jozsef Fuzesi, comments, "I am extremely excited about the new partnership with mCig and VitaCig, the maker of the original Vitamin Vaporizer. I am honored to have the ability to offer a healthier alternative to tar and tobacco based products, and taking into consideration the overwhelming initial interest, we are looking forward to a very lucrative partnership."
With this contract, mCig continues to add to its IP and asset portfolio with VitaCig mark now protected in Europe and Russia.
Lastly mCig/VitaCig is pleased to announce the launch of its VitaCig® Excalibur Rechargeable Capsule System. Delivering the next generation of VitaCig inhalation science and technology, the VitaCig® Excalibur features a unique, advanced twist on pre-filled capsule design. Producing an even smoother, rich, dense vapor than its disposable counterpart, along with its sleek, classy design, the VitaCig® Excalibur is the perfect extended pleasure at home, on the go, or with some friends. The VitaCig® Excalibur kit comes with the battery bottom, two pre-filled capsules, one Marvelous Mint, one Boisterous Berry, and an innovative chargeable USB Adapter. The pre-filled flavor capsule liquid is enriched with all the vitamins, essential oils, and natural plant extracts associated with the VitaCig® disposable device. Aromatherapy on the go!
The VitaCig® Excalibur advanced capsule system was created to appeal not just to the beginner vape/e-cig user, as with our VitaCig® disposable product, but also to the moderate user who prefers more of the open tank vaporizers. Keeping with innovation and convenience, our tank capsule system are pre-filled, so there is no mess or waste.
In addition to the VitaCig® Excalibur, with the Holiday shopping season in full swing, VitaCig has also released its Candy Cane -- Special Holiday Limited Edition VitaCig®. Both the VitaCig® Excalibur and our new VitaCig® Candy Cane Holiday Edition make for the perfect gift or stocking stuffer. For more information visit http://www.vitacig.org/
Stay tuned for future updates!
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc., Acquires 17M Shares of Omni Health, Inc.
Nov 22, 2016
OTC Disclosure & News Service
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mCig, Inc., Acquires 17M Shares of Omni Health, Inc.
HENDERSON, NV--(Marketwired - Nov 22, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today it elected to convert its Convertible Promissory Note into shares of Omni Health, Inc., (OTC PINK: OMHE) as of October 31, 2016. The outstanding balance owed, $98,108, including interest, was converted into just over 17,677,058 shares, increasing its current position to more than 75,177,058 shares.
"MCIG had been approached by many companies that wanted VTCQ and we wanted the best deal possible for MCIG and its shareholders. We kept the brands we helped create (Vitacig), kept a sizeable share position, and made a deal with a company that is doing 7 figures in revenue a quarter," said Paul Rosenberg CEO of MCIG, Inc. The significance of the Omni Health, Inc., (OTC PINK: OMHE) deal for MCIG shareholders is the passive investment by MCIG will derive a future cash position for MCIG and MCIG shareholders. At a $0.02 PPS of OMHE, our investment is worth roughly $1.5 million; however the current valuation is based upon the previous VTCQ business and its net losses, while OMHE has just stated a net profit of $1.6M in its first quarter, which will significantly enhance our investment once all information is made public and digested in the market. With $1.6M net profit reported in its first quarter, dividend holders in the old VTCQ now have significantly more revenue stream and profit stream than the previous assets which were taken back into MCIG, mainly the VitaCig product line.
As a shareholder of OMHE, MCIG is happy to unlock value for shareholders by developing great streams of revenues and incubating great businesses like Scalable. Each business division has its own time and growth, and MCIG's time now will focus on the other divisions now that VTCQ is in good hands with a strong management team to guide our ownership.
OMHE will be engaging in its own public relations program to unlock the value for its shareholders, and operate completely autonomous with MCIG. Michael Hawkins has been leading the transition of power team with OMHE to assist new management in a smooth progression from a private operation for more than 40 years to one of a public entity. Mr. Hawkins will be relinquishing his role as the Chief Executive Officer during this period of transition as it is winding down to new management as a natural progression to autonomy.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
About Omni Health, Inc.
Headquartered in Miami, Florida, Omni Health Inc. operates a pharmacy operation in Hialeah, Florida, Malecon Pharmacy. Malecon Pharmacy has been a pillar of the local community since 1974 providing healthcare products, pharmacy operations, prescription drugs, and other services and products in the skin care and anti-aging industry.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
Contact:
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Subsidiary, Scalable Solutions Chosen As The Exclusive Distributor For Sangreen Green Houses
Nov 17, 2016
OTC Disclosure & News Service
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mCig Subsidiary, Scalable Solutions Chosen As The Exclusive Distributor For Sangreen Green Houses
HENDERSON, NV--(Marketwired - Nov 17, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company serving the legal cannabis, hemp, and CBD markets, updates shareholders from the Las Vegas Conference on an industry changing deal that Scalable Solutions has signed an exclusive agreement with Sangreen International Agricultural Technology Co, one of the premier greenhouse manufacturers in the World. The exclusive agreement will allow Scalable Solutions to buy, sell & market Greenhouses for China's largest manufacturer and worldwide distributor of the entire USA Cannabis market.
Greenhouse technology is one of the most "in demand" portions of the sector as they relate to the cannabis and urban farming industries due to their low cost structure and operations. Currently, Cultivators are forced to use high priced greenhouse manufactures, where companies are paying a premium based off of name recognition from firms utilizing the same hot dipped galvanized steel from China or aluminum structures. Rather than pay the premium on a US name mark up, Scalable Solutions & Sangreen will circumvent the middleman while creating the highest quality, lower cost greenhouse that cultivators desire.
"We feel that our exclusive agreement with this world renowned multinational greenhouse manufacture will be great for our industries bottom line as price gauging for the Cannabis greenhouse market becomes a thing of the past. The confidence that Sangreen has shown in honoring MCIG & its Scalable Solutions division with this important contract, is a true testament to the impact we are having in the Cannabis construction cultivation markets. This agreement puts the company into a position to rapidly gain market share as Sangreens United States arm," said Ron Sassano of Scalable Solutions.
"We could not be more proud of our Scalable division. This is a first in Cannabis industry to sign such an important multinational contract with the premier maker of Greenhouses in the World," states Paul Rosenberg, CEO of MCIG, on behalf of Scalable. "We will be supporting this effort by creating 3 models of offerings for the Cannabis industry and dedicating resources to the success of this venture. Greenhouses are the hottest trend in the industry with the two largest US GreenHouse manufacturers being consolidated with a Third. We will price the offering at a discount to other manufacturers, and we will be providing high quality hot dipped galvanized steel with sealed joints, commensurate with top standards."
"Expanding into the growing USA Cannabis market through Scalable Solutions is a strategic move designed to penetrate the current market with a company we feel will be an industry leader, and lead us in this market. This agreement gives us a competitive advantage in the US Cannabis market, thus bringing affordability and quality product to the robust growing markets of the USA," says Spring Zhu, the General Manager for North America of Sangreen. "We have already received one large order from Scalable for the largest and most advanced desert grow in Vegas and are working on a clear and fair standardized offering to streamline bids to consumers and reduce the work load given Scalable's deal flow, and the many other bid requests we have received to date from them."
About Scalable Solutions, LLC
Headquartered in Henderson, Nevada, Scalable Solutions, Inc. is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows.
About Beijing Sangreen Agricultural International Technologies Co., LTD
As a professional greenhouse manufacturer and exporter to almost 40 countries around the world, Sangreen (http://www.sangreentech.com) provides services of greenhouse design, production, and installation. Adding further value, Sangreen offers project consultancy, production suggestions, hydroponic technologies, and turnkey solutions to help customers maximize production and guarantee high yields. The comprehensive services and solutions have made Sangreen a key player in this sector.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. Announces Record Fiscal Second Quarter Net Sales, Net Income, Adjusted Net Income and Adjusted Net Margins
Nov 14, 2016
OTC Disclosure & News Service
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mCig, Inc. Announces Record Fiscal Second Quarter Net Sales, Net Income, Adjusted Net Income and Adjusted Net Margins
HENDERSON, NV--(Marketwired - Nov 14, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today its earnings results for its second quarter of the 2017 Fiscal Year.
During the second quarter, MCIG generated $620,015 in revenue, a 126% increase from the previous quarter. The company reported to be profitable during the quarter and MCIG reported $10,469 in net income, an increase of $675K in its bottom line compared to same period last year. MCIG's adjusted net income for the period was $102,550, an adjusted net profit margin of 20%.
Michael Hawkins, Chief Financial Officer, stated, "For the second straight quarter MCIG has achieved an adjusted net income. This will be a landmark quarter in the history of MCIG as the company achieves a net profit for the first time in its history." He went on to say, "Scalable Solutions, MCIG's construction division grew in net revenue by 200% and achieved profitability, a fiscal quarter ahead of schedule and we expect that Scalable's profitability trend will continue given the recent recreational legislation passed in Nevada. On top of that our Wholesale division increased sales by 248% and leads all divisions with a 27% net income, with other wholesale products like 'Rollies' in production and not accounted for."
Paul Rosenberg, MCIG's CEO, reinforced the excitement at MCIG by stating, "With the recent historic election where 8 of 9 states approved measures to legalize marijuana either recreationally or medically will virtually expand the market we are entrenched in overnight. We are pleased to see that our grassroots & fiscally conservative measures have taken hold and that MCIG is seeing tremendous growth rates at a time when a paradigm shift has just taken place in the cannabis, hemp and CBD markets. We are well positioned, well capitalized and eager to fulfill the requirements of this new, expanded market." He further clarified, "MCIG is not your traditional 'need a lot of cash to grow' company. While sustaining this growth with no toxic debt, we have seen our cash position improve by 27% from the previous quarter. It stands to reason that this trend can continue and potentially be improved significantly with our Scalable Solutions division which is positioned at ground zero of the Nevada & California recreational/medical cannabis markets."
The Company reports all financial information required in accordance with generally accepted accounting principles (GAAP). The Company believes, however, that evaluating its ongoing operating results will be enhanced if it also discloses certain non-GAAP information because it is useful to understand MCIG's performance that many investors believe may obscure MCIG's ongoing operational results.
For example, MCIG uses non-GAAP net income (Adjusted Net Income), which excludes stock-based compensation, amortization of acquired intangible assets, impairment of intangible assets, costs from acquisitions, non-cash deferred tax provision and litigation and related settlement costs. In addition to Adjusted Net Income, MCIG uses EBITDA, earnings before interest, taxes, depreciation and amortization, to evaluate its operations.
The company believes that excluding certain costs from non-GAAP net income and EBITDA provides a meaningful indication to investors of the expected on-going operating performance of the company.
Whenever MCIG uses such historical non-GAAP financial measures, it provides a reconciliation of historical non-GAAP financial measures to the most closely applicable GAAP financial measure. The following table reflects the non-GAAP Consolidated Statements of Operations for the three month period and six months ending October 31, 2016 and October 31, 2015, respectively.
For period ending October 31, Six Months ending October 31,
CONSOLIDATED STATEMENT of OPERATIONS: 2016 2015 2016 2015
Net Income (Loss) $ 10,469 $ (663,148 ) $ (142,706 ) $ (1,083,797 )
Interest (1,900 ) (3,108 )
Depreciation and Amortization 13,468 2,070 21,654 4,064
EBITDA 22,055 (661,078 ) (124,160 ) (1,079,733 )
Adjustment for Non-Intangible Asset Depreciation (271 ) - (910 ) -
Stock Based Compensation 102,550 340,501 270,850 686,466
Adjusted Net Income $ 124,334 $ (320,577 ) $ 145,780 $ (393,267 )
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. CEO Provides Corporate Update
Oct 24, 2016
OTC Disclosure & News Service
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mCig, Inc. CEO Provides Corporate Update
HENDERSON, NV--(Marketwired - Oct 24, 2016) - MCIG, Inc., (OTCQB: MCIG) a diversified company servicing the legal cannabis, hemp, and CBD markets is pleased to give this corporate update to our current & future shareholders surrounding the operations of MCIG, Inc. First, let me thank the many investor emails I have received over the past few weeks that have made inquiries as to our product lines as well as our Nevada operations, it is for this reason I am providing this update ahead of what we feel is a pivotal moment for the cannabis industry.
The 2016 elections and cannabis related ballots across the United States are exceptionally important to the continued expansion of the industry and we feel MCIG, Inc. is well positioned at many different market verticals, most notable the Nevada cultivation market. Company divisions are fundamentally healthy and we expect to see revenues continues to grow as overall operations expand and are scaled to meet various forms of demand. Currently, 3 of our 4 divisions are profitable as we continue to focus on this profitability via cost cutting initiatives that continue to improve our margins. Also, our cash position has significantly improved while our expenses remain at all-time lows allowing for a good base for future growth.
MCIG continues to expand our shareholders position within the rapidly growing Cannabis market and we have become even more geographically diverse following the addition of new clients, new products roll outs, and continued market penetration via existing product lines and expanded distribution agreements.
In an effort to keep our investors up to date with everything going on within the company, we want to provide this update for each of our portfolio companies and investments as we prepare to enter into the third quarter.
Scalable Solutions -
After being established in March 2016, Scalable Solutions has quickly become a leader when it comes to Marijuana cultivation construction. Currently, we have five projects under construction and a backlog of more than $6 million dollars. Scalable Solutions will become a main driver of revenues for mCig as the legal cannabis industry continues to grow within its Nevada, which is expected to be a $629.5 million market by 2020. The company is also currently working on smaller projects in Washington and Oregon in various capacities while expanding its base of operation in Nevada.
It is important to note that if Nevada legalizes adult use cannabis on November 8, 2016 we will witness an unprecedented socio-economic impact in a state already shaped and fueled by tourism and entertainment. . That's why we are taking an aggressive approach to contract new projects in Nevada while expanding our professional team of engineers and consultants.
Currently, Scalable's Sin City and Green Leaf Farms projects under contract are ahead of schedule. Both projects will be expanding as the Nevada markets expand to fulfill their eventual maximum space usage for the large land and warehouse they respectively occupy. Sin City will eventually expand from 4,800 square feet to 40,000 square feet and Green Leaf will modify it entire facility in order to occupy all 30,000 square feet of their facility.
Management expects the Solaris project will become the model for future Green Houses which when completed will be the largest approved green house facility in Nevada with room to grow. The current parcel of Land that Solaris occupies is 12 acres, with only 20% currently allocated by the main Solaris Greenhouse. Many licensed producers are planning on scaling their operations as demand increases as it has increased in other markets. Our scalable division has already seen our current projects swell in size and each of our current clients has expanded the construction budgets multiple times, giving MCIG Inc. via Scalable Solutions years of continued project revenue.
Scalable targets a 10% profit margin on its construction, with monthly management fees and performance incentives. This continued growth along with identifying other avenues for revenues and expansion will ensure Scalable's long term viability.
VitaCig Brand
The sale of our flagship VITACIG Brand just had a record breaking quarter as VitaCig continues to expand its operations outside of the united states. VitaCig will soon debut in the Philippines, South Africa, and Hungary. With the recent country additions, VitaCig now exports its product to more than 30 different countries.
Part of that success, is due to our R&D department, who continues to develop the world's most innovative, and unique inhalation technologies and formulas. Within the last few month, VitaCig has released four new concept flavors under the, S-Edition. This Special Line Edition features SURGE B-12 + Energy Complex, SLEEP VitaCig® Edition, Kama Sutra (SEX), STRESS VitaCig® Edition, with 100% real Cocoa, Getting into the Holiday spirit early, VitaCig has just released its VitaCig Candy Cane -- Holiday Limited Edition, the perfect gift or stocking stuffer for this Holiday season. Orders can be placed by visiting: http://www.vitacig.org/
VitaCBD Brand
At the CHAMPS Tradeshow in Denver, Sept. 26-28, 2016 the Company launched its new and improved VitaCBD™ Product Line to Buyer's in the Smoke Shop Industry.
The new line consists of healthy, uniquely blended 250mg, 500mg and 1000mg tinctures... 150mg and 300mg PG Free E-Liquid... 100mg, 500mg and 1000mg Blood Orange Essential Oil Infused Topical Lotion, a complete line of relaxing melatonin and 25mg CBD Edibles, with more in the works.
The CBD Division has begun supplying Raw Hemp-Extracts to other CBD Manufacturing Companies as Cherry Hemp Oil Bulk CBD Supply Co. During its initial two week period of operations the CBD Division logged over $50,000 in sales.
With numerous Distribution Networks with their eye on VitaCBD™, a new Bulk CBD Supply Co., a heavy on-line presence, along with plans for unique, Hemp-Extract Based consumer product development phases, future growth for this new CBD Division should become a significant boost for mCig, Inc. as a whole. Orders can be placed by visiting: http://www.vitacbd.com
Rollies Division -
MCIG's Rollies division recently entered into a partnership agreement with Nevada based company Vellum LLC. Both companies will work together on bringing to the market a new format of smoking papers and cannabis pre-roll filling services to a different marijuana businesses.
Vellum LLC provides pre-roll filling services for two California brand's: Nativ and "Lucy's" using a new JOINT format from MCIG. Collaboration of two companies, already generated more than 1 mil pre-rolled sold.
"MCIG's Rollies division is finally on a roll", says Alex Levitsky the CEO of Rollies. During the past 5 months we have been researching and testing Nevada's marijuana market. We have met with many owners and managers of cannabis cultivation, production and dispensaries businesses. They all were highly impressed with our unique format of pre-rolls. Success of "Nativ" and "Lucy's" have spiked tremendous interest from Las Vegas cannabis businesses. We're in the middle of making a deal with a big cultivator/producer in Las Vegas which will significantly increase our sales volume on papers as well as filling services performed. Now, with joining forces of an experienced management team form Vellum, we would be able to expand our services rapidly to all marijuana legal states across an America.
mCig Internet
The company oversees all retail sales of mCig's products. In May 2016, MCIG developed and approved a multifaceted operational plan for the expansion of its retail sales. The strategy has resulted in significant growth and is based upon these principles:
1. Expand domain name and website presence to capture and use to the Company's advantage the recent and consistent changes in the Google ranking process, seeking guidance and direction from the industry experts and market leaders.
2. Develop and implement internally and externally, a system in which sales to customers can be expedited with secure privacy, yet inherent transparency.
3. Expand product sales to include not just our own proprietary products, but to be the industry leader in CBD sales.
Based upon this research, the Company acquired three specific domain names to use in conjunction with the four domain names it operates. As part of these acquisitions we have some of the best site development, SEO, and analyst in the market available to us who have provided in depth and thorough analysis of all out sites.
With the goal to propel mCig Internet towards domination of the specific industry keywords organically, and not by the conventional paid advertising methods that often prove highly ineffective, mCig Internet strives to control the primary keyword positions, and once achieve, to maintain them, at no additional costs unlike our various competitors.
Additional Updates
Omni Health, Inc. -- While not recorded on the financial statements of MCIG, the Company maintains approximately a 9% interest in the company. Omni Health is the manufacturer and distributor of anti-aging creams and operates a Pharmacy operation in the Miami, Florida area.
Omni Health is conservatively projecting $6M in revenue with an 8% net profit margin for FY 2017. Omni will be more active independently promoting their company as soon as the symbol change is approved, any day now. Realizing value for our shareholders is a must and we have great plans for our position in Omni for our shareholders.
Conclusion
All in all, as previously stated, we feel we have created an environment where our company is a bright spot for the ancillary cannabis and hemp markets. MCIG has clearly reached an important inflection point of controlled expenses, rising revenues, and profitability. While the road was long we chose it not because it was easy, but because it was difficult and shareholder friendly. MCIG's fiscal prudence and the avoidance of toxic debt is what has allowed us to be a diversified investment rather than a fly by night company trying to get it right at the cost of its shareholders. We are poised to flourish, rather than to fade and our corporate philosophy will continue to remain intact for the benefit of our shareholders. The recent retirement of 50,000,000 shares of stock is further testament to this fact and we will be announcing more changes to benefit shareholders as well as update shareholders to the potential impact of the November 8th ballot initiative impact, which we feel one way or another is either good news or great news for MCIG Inc. Thank you for your time.
Regards,
Paul Rosenberg
CEO MCIG Inc.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3071168
Contact:
Paul Rosenberg
CEO
paul@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Announces $3.5M Large High Tech Desert Greenhouse Contract With Solaris
Oct 06, 2016
OTC Disclosure & News Service
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mCig Announces $3.5M Large High Tech Desert Greenhouse Contract With Solaris
HENDERSON, NV--(Marketwired - Oct 6, 2016) - Scalable Solutions Inc., a subsidiary of mCig, Inc. (OTCQB: MCIG), the emerging leader in Marijuana Cultivation construction, announces it has entered into an agreement to manage the phase 1 construction of a 24,000 sq. ft. high tech desert greenhouse and a 10,000 sq. ft. production facility in North Las Vegas, Nevada with Solaris. The project has an expected completion date of July 2017 and has a fully funded phase 1 budget of $3,500,000.
Scalable Solutions, Inc., has received $100,000 from Solaris in the form of a non-refundable deposit to begin this project. This facility is completely state of the art and a testament of Scalable Solutions progressive designs & execution. The desert facility is fully automated with the most advanced and efficient agricultural technology available for cultivators in the cannabis space. Scalable Solutions will oversee the construction from start to finish.
"As we begin the first of many phases with projects such as this, we are elated to continue our expansion side by side our current & future clients. These construction projects have the ability to last multiple years as these multi-acre sites are built out to meet growing demand," said Jori Olsen, VP of Sales. "Greenhouse facilities are the wave of the future, especially in an ecosystem as unique as Nevada's. We look forward to many more projects as we solidify our foothold on the indoor and outdoor cannabis cultivation market."
About Scalable Solutions, Inc.
Headquartered in Henderson, Nevada, Scalable Solutions, Inc., is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows, modular Growpod technology for warehouse conversions, and a line of home grow units to fully capture all aspects of Cannabis growers' needs.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
mCig, Inc.
Paul Rosenberg
Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig Updates Shareholders on Sin City Project
Oct 04, 2016
OTC Disclosure & News Service
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mCig Updates Shareholders on Sin City Project
Project Increases to Over $500k
HENDERSON, NV--(Marketwired - Oct 4, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company serving the legal cannabis, hemp, and CBD markets, updates shareholders on Sin City Phase 1 Project. The project is underway, materials have been ordered, construction has begun, and the project is currently 45% complete. Sin City has grown from an original $200,000 budget to a $500,000 approved and funded project with current add-ons that could see the project grow even higher. Current improvements were upgraded to accommodate a four tier grow system which has been designed, approved, and permitted. These upgrade improvements are in line with management's previous announcements that our construction projects will typically increase in value over the course of construction.
"Now that we have completed the State requirements and approvals process we can move forward with our construction segments. The process from here on will move quickly through this phase and expedite the process for current & future phases. We are proud to announce we are ahead of schedule and expect completion before the end of this calendar year 2016," says Jori Olsen, VP of Sales for Scalable. "As the State of Nevada gets comfortable with these types of approvals, we're seeing faster turnaround of documentation for Scalable Solutions due to our methodical process. This has allowed us to not only be efficient with the time projections related to operations, but has also led to new business opportunities for our experienced team. Scalable's reputation is growing as a construction leader in Nevada and we expect more deals to be announced soon, as well as continued expansion on current projects."
We continue to encourage our shareholders to follow the project under "project update" with video, pictures, and mile marker funding announcements through our website at www.mCig.org.
About Scalable Solutions, Inc.
Headquartered in Henderson, Nevada, Scalable Solutions, Inc., is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows, modular Growpod technology for warehouse conversions, and a line of home grow units to fully capture all aspects of Cannabis growers' needs.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
mCig, Inc. CEO to Retire 50 Million Underlying Common Shares of Company Stock to the Company Treasury
Sep 28, 2016
OTC Disclosure & News Service
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mCig, Inc. CEO to Retire 50 Million Underlying Common Shares of Company Stock to the Company Treasury
HENDERSON, NV--(Marketwired - Sep 28, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today its Chairman and CEO, Paul Rosenberg, is pleased to announce he has voluntarily returned 5 million Series A Preferred shares, representing 50 million underlying common stock to the company treasury. The process will be completed by September 30th, 2016.
"At MCIG, our shareholders are important to us and by returning 50 million common shares back to the treasury we instantly create additional value to the shareholders & health of the company. The return of these shares demonstrates management's desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an integral part of MCIG Inc.'s long term corporate strategy. By unlocking shareholder value first, we lay a foundation that is poised to grow in our target markets," said Paul Rosenberg, CEO of mCig, Inc.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
Contact:
Paul Rosenberg
Attn: Chief Executive Officer
info@mcig.org
Copyright © 2016 Marketwired. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
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