mCig Inc (OTCMKTS:MCIG) Continues To Execute

Although a general downtrend for stock prices has taken hold in the cannabis sector, it would be naive to think that cannabis is going away. The political uncertainty resulting from the unfriendly rhetoric coming from Trump administration officials about federal law enforcement is causing some setbacks for cannabis related businesses. But setbacks are temporary, political rhetoric rarely results in direct action, and neither is having any effect on the demand for cannabis products. For those businesses that remain standing, “good thing will come.” mCig Inc (OTCMKTS:MCIG) is one of many cannabis companies that is well positioned to endure the “shake out.”Headquartered in Henderson, Nevada, mCig, Inc. is a diversified holdings company for various subsidiaries, focusing on technology and consulting, grow construction and cultivation, biotech, vaporizers, dispensary supplies, payment processing, and more. The Company services the legal cannabis, hemp and CBD markets. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to an industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market. mCig, Inc. employs a world renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.Green Leaf Farms Holdings, LLC (Green Leaf), a subsidiary of Player's Network, Inc. (OTCMKTS:PNTV), contracted mCig to develop and buildout their facility in North Las Vegas. As of June 2, 2017, the first Phase of development which included two vegetation and flower rooms, an extraction lab, and all the needed infrastructure to support the facility has been completed. Additionally, mCig worked with the City of North Las Vegas and the State of Nevada to ensure Green Leaf was 100% compliant. mCig has already completed the design, structural engineering and technical specifications for the remaining build out of the full 27,000 sq. ft. facility. Phase 2 (of 3 total phases) is expected to complete in approx. 6 weeks which will add an additional 7,000 sq. ft. of cultivation to the facility. PNTV Chief Executive Officer Mark Bradley states:

"Working with multiple government agencies and being fully compliant with so many rules and regulations has been very challenging! Working with mCig's management has made this process so much easier due to their invaluable industry expertise, know-how and experience in both construction and marijuana facility design."

On the technology side, mCig’s 420 CLOUD Global Cannabis Community launched on the Apple store on May 11, 2017. It was also released on Google play May 1, 2017. 420CLOUD is a social media platform that is a cross between LinkedIn and Tinder specifically designed for the cannabis community. The platform connects like-minded individuals whether recreational users, patients, doctors, growers, investors, entrepreneurs, dispensaries, businesses, etc., through targeted filters, interests, jobs, news and more. mCig, Inc. will promote the app through various marketing connections, influencers and channels totaling a reach of over one billion.On May 2, 2017, mCig announced the signing of Alex Mardikian as the company's new Chief Marketing Officer. Mardikian has an excess of twenty years of brand marketing, manufacturing and data management, experienced in small to medium scale startups in both private and public sectors internationally. He offers an intrinsic role and proven strength in what is known as guerrilla marketing. Mardikian's expertise extends into customer loyalty and retention, data mining, aggregation, rewards/deals/incentives platforms, geo-temporal systems, credit card processing theory, merchant services, and program information design. Alex Mardikian will be a valuable member of mCIG's team.

MCIG stock has been on a downward trend since the start of last February when it made its 2017 closing high of $.4860 after a run-up that started in early-October of 2016. At present, the stock is trading at $.20.Regarding the financial front, on Jun 8, 2017, mCig announced that the Company’s Grow Contractors (GC) division exceeded fourth quarter revenues of 2017 (February 1 - April 30, 2017) in just the first month of the 2018 fiscal year (May 2017). In the fourth quarter of FY2017, GC recognized $1.1 million in revenue, and in the first month of FY2018, GC surpassed earnings with $1.3 million in gross revenue. Projects continue to line up as demand remains increasingly strong.In its recently reported Fiscal Year 2017 Financial Results (ending April 2017) the Company reported a Net Sales increase to $4.5 million, a 158% increase in a year-to-year comparison. Also reported was a net income of $1.5 million, compared to a $1.4 million loss from the previous year, resulting in an increase of $2.9 million net earnings. Cash and cash equivalents came in at $1.6 million compared to $0.1 million from the previous year, and the Company’s assets increased to $6.8 million. mCig generated $2.1 million in cash from operating activities. Current market capitalization stands at $77.22 million, on 386.09 million shares outstanding as of June 8, 2017. We will be updating our subscribers as soon as we know more. For the latest updates on MCIG, sign up below!Disclosure: We have no position in MCIG and have not been compensated for this article.