Marijuana Company Of America Inc (OTCMKTS:MCOA) Making A Breakout

Marijuana Company of America Inc (OTCMKTS:MCOA) is in the midst of a breakout the started on July 14, 2017. The stock price went from $.0203, to a high of $.0489 on July 20, 2017. The stock has pulled back a bit and is currently trading $.0375 a share.

The breakout follows several press releases favorable to Marijuana Company of America Inc.First, for those that are not familiar with the company, Marijuana Company of America is headquartered in Southern California. It is acquiring, or partnering with companies across all sectors of the marijuana industry, constructing a portfolio of synergistic companies involved in cultivation, extractions, oils, tinctures, edibles, and distribution of medical and adult use marijuana in compliance with the laws of each individual state. MCOA provides a wide range of products and services all dedicated to educating and supporting its patients/members in obtaining all the benefits of a cannabis lifestyle. MCOA has developed a knowledge base complete with information from subject matter experts, medical articles and opinions, current articles, YouTube and other videos, blogs, and industry news and papers. MCOA is dedicated to transferring knowledge to its patient/members to allow them to become their own advocates. MCOA provides comprehensive information on popular and rare strains, and other processed products that will be available through the MCOA club. MCOA tracks industry and consumer information and posts to their social media and online knowledge base.In our last review of Marijuana Company of America Inc we reported on the announcement of the joint venture agreement with Bougainville Ventures, Inc. in Washington State. On Jul 19, 2017 the Company announced that it contributed the first installment of capital to Bougainville Ventures, Inc. in partial satisfaction of the joint venture agreement. Marijuana Company of America Inc received $375,000 in its first round of financing. This investment will contribute to funding the development of a state-of-the-art 30,000 sq. ft. greenhouse grow facility in Oroville, Washington. Once completed, the greenhouse facility will accommodate a cannabis production and processing tenant with a Tier 3, I-502 license with significant experience growing cannabis. The total principal amount of the convertible note that MCOA executed with its financing partner is $752,500. Donald Steinberg, MCOA President and CEO stated:

"I am very pleased that we obtained the financing to start our operations in Washington. We are projecting that this joint venture will soon be profitable and be a model that we can replicate in other states and countries. We are also happy to establish a relationship with a financing partner that is interested in supporting joint venture projects for MCOA in the future."

In a separate announcement, effective July 1, 2017, the Company establishment of a new corporate office located in Escondido, California. The office will include space for the Company's back office support team for its HempSMART brand, and provide office space for some Company executives. The Company has also launch of its new corporate website. The new site will be the central hub for information about MCOA and the rapidly emerging cannabis and hemp industry.On May 23, 2017 the company announced that it filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC). Once the registration statement becomes effective, the Company will apply to upgrade its trading tier with OTC Markets to the OTCQB. This is an important step in helping the Company to raise the necessary capital to fund its projects and expand its operations, as well as provide more transparent and reliable information to investors.On May 3, 2017 the Company announced an investment of $250,000 in exchange for 15% of MoneyTrac Technology, Inc., a subsidiary of Global Payout (OTC: GOHE). This investment will serve as an excellent resource for MTT in their current objective of establishing the MoneyTrac Technology payment platform as a major competitor within the alternative banking sector, and more specifically be leveraged in their efforts to extend their marketing campaign to cannabis-related companies who are at the core of MTT's target market.Quarterly financial reports for the period ending March 31, 2017 do indicate an increase in revenues, albeit the scale is small. However, the Company is still operating at a Net Loss. Current market capitalization stands at $74.40 million, on 1.98 Billion shares outstanding as of July 21, 2017.Marijuana Company of America Inc is in a position to capitalize on all facets of the marijuana industry. The Washington State project now in motion will significantly increase revenues for the Company. This will capture the attention of investors. We will be updating our subscribers as soon as we know more. For the latest updates on MCOA, sign up below!For the full story, check out our complete coverage.Image courtesy of The Daily Iowan via FlickrDisclosure: We have no position in MCOA and have not been compensated for this article.