- MCOA just posted its highest quarterly revenue yet in Q3 2021, attributed to the cDistro acquisition, which was completed towards the end of Q2 2021
- MCOA looks forward to having another record-breaking quarter in Q4, 2021, primarily attributed to additional benefits of the cDistro acquisition, along with strategic partnerships with key players within the legal cannabis and industrial hemp sectors
- The company continues to forge these partnerships to diversify its product and services line and provide consistent value to its shareholders
Marijuana Company of America (OTC: MCOA) released financial results for the three months ended September 30, 2021 (“Q3 2021”), posting a 731% year-on-year increase from the same period in Q3 2020. Total revenue stood at $442,178 up from $53,195, with gross profit up from $16,025 in Q3 2020 to $63,687, representing a 297% growth over that period (https://cnw.fm/nfYDO).
MCOA has attributed this impressive growth to its new acquisition of cDistro, an enterprise that distributes CBD brans, smoke, and vape shop-related products to specialty retailers, wholesalers, c-stores, and consumers within the North American market (https://cnw.fm/3U4jm). The acquisition, completed towards the end of Q2 2021, was a tremendous milestone for MCOA. But, more importantly, it positioned the company to take advantage of immediate revenue granted by the opportunity to carve out a significant market share in the specialty distribution space.
With this acquisition, and the steps taken so far regarding expanding the company’s market reach and product line, MCOA is confident that it will have another record-breaking quarter in Q4 2021.
“We are confident that the steps we are taking will enable us to maintain a growing strong position as we drive growth across the entire business and maximize value for our shareholders over the long term. Our expectation is that we should have another record-breaking quarter in Q4 2021, since we will report a full quarter of revenue from our newly acquired cultivation facility in Salinas, California,” noted Jesus Quintero, the Chief Executive Officer (“CEO”) of MCOA.
In addition to acquisitions, MCOA has also tapped into strategic industry partnerships to push its growth. So far, it has operations in North America and Latin America, primarily through partnerships with enterprises such as Cannabis Global Inc. (OTC: CBGL), Eco Innovation Group Inc. (OTC: ECOX) and Natural Plant Extract. CBGL currently markets and produces innovative cannabis storage, transport, and tracking solutions and is also the company behind the Hemp You Can Feel(TM) brand. ECOX, on the other hand, has cutting-edge extraction technology that utilizes a proprietary formulation to extract bioactive compounds from cannabidiol, which is then combined with plant-based materials to create a fluid and cost-effective outcome. Natural Plant Extract operates a licensed cannabis manufacturing and distribution business in Lynwood, California.
MCOA remains committed to expanding into new regions around the world. Its goal is to utilize its resources and its strategic partners’ success to continue growing its product and services line. Ultimately, this will provide consistent value to shareholders while also sealing its position as the leader in the legal cannabis and industrial hemp sectors.
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CannabisNewsWire.com
Do you have a questions or are you interested in working with CNW? Ask our Editor