Innovative hemp and cannabis corporation Marijuana Company of America (OTC: MCOA) this morning announced financial results for the three and nine months ended September 30, 2018. The update noted the following highlights from Q3 2017 to Q3 2018: Increased revenues of 2984 percent; increased total assets by 42 percent; operations net loss decrease of 1057 percent; decrease in SG&A expenses by 1007 percent; and decrease in total liabilities by 259 percent. “The third quarter marked an important milestone for MCOA, as our hempSMART sales have ramped up due to our multi-pronged marketing campaign and several newly launched products,” MCOA CEO Don Steinberg stated in the news release. “We ended the quarter strong with a revenue trend that is now largely stabilized with the strong foundation that we built. We expect sales to continue to increase through Q4 with the holiday season and into next year with our European expansion.”
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About Marijuana Company of America Inc.
MCOA is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name “hempSMART”, that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop. For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
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