Innovative hemp and cannabis corporation Marijuana Company of America Inc. (OTCQB: MCOA) this morning announced its financial results for the year ended December 31, 2018, as reported in its annual report on Form 10-K. According to the update, MCOA realized total revenues of $252,135 from its hempSMART products for the 12-month period, which represents an 840 percent year-over-year increase as compared to 2017 revenues of $26,830.
“I could not be prouder of the growth and accomplishments our company and team members achieved in 2018,” Marijuana Company of America Founder, Chairman and CEO Don Steinberg said in the news release. “Our industry experienced unprecedented legislative developments, including Canada going full adult use and the Farm Bill passing in the U.S. We are now better positioned than ever to be a leader in the cannabis industry. Not only did we expand our team, but we also launched our hempSMART sales in Europe. We expect to complete and announce our acquisition of a California marijuana manufacturing and distribution license shortly. Upon completion, this acquisition will allow us to capture additional market share, implementing a fully integrated cannabis model that includes cultivation of hemp, distribution and manufacturing of cannabis, and the retail delivery of our new Viva Buds brand.”
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About Marijuana Company of America Inc.
MCOA participates in: (1) product research and development of legal hemp-based consumer products under the brand name hempSMART, which 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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