Marijuana Company Of America Inc(OTCMKTS:MCOA) has been moving up steadily in recent days on fast accelerating volume recently transforming into one of the top most traded stocks on the entire OTCBB.
MCOA operates in the red hot cannabis market responsible for many of the hottest stocks on the OTCBB. The sector is currently booming with all eyes on October 17 when recreational cannabis goes on sale in Canada.
Marijuana Company Of America Inc(OTCMKTS:MCOA) is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name â€śhempSMART(TM)â€ť, 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 recreations 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.
Last year MCOA launched the HempSmart brand and line of products. The first HempSmart branded CBD based product called â€śHempSmart BRAIN,â€ť formulated to promote brain health, has entered the manufacturing process and is expected to ship by September 30, 2016.
This is a â€śfirst-of-a-kind, patent pendingâ€ť new product that combines nootropic benefits with the additional cognitive enhancing benefits offered by CBD. Our team has developed a unique proprietary product with a water-soluble CBD base to enhance bioavailability that includes supporting ingredients that are proven cognitive enhancers.
In June of this year MCOA announced their hempSMARTâ„˘ brand has launched its revolutionary new cosmetic product, hempSMARTâ„˘ Face.
Each bottle of hempSMARTâ„˘ Face is formulated with 150mg of full spectrum, non-psychoactive Cannabidiol (CBD) oil derived from the industrial hemp plant. The newly developed hempSMARTâ„˘ topical is a nourishing facial moisturizer that combines CBD oil with a unique blend of ayurvedic herbs and botanicals that is designed to refresh, replenish, and restore your skin cells on your face The innovative new formula is rich in Omega 3, 6, 7 and 9, along with naturally occurring ceramides and contains synergistic ingredients such as Organic Aloe, Sabi Inchi Oil, Argan Kernel Oil, Macademia Seed Oil, Rose Hip Seed Oil, Pomegranate Seed Oil, Tulsi, Turmeric Oil, Frankinsense, Ashwaganda, Sweet Potato Root Extract, Coconut Oil, and Sea Buckthorn Oil.
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At the end of last year MCOA and Global Hemp Group, Inc announced a joint venture to develop commercial hemp production on the Acadian peninsula of New Brunswick, Canada.
In May of this year MCOA in partnership with Global Hemp Group, Inc acquired a 109 acre agricultural property in Scio, Oregon for the cultivation of high CBD yielding hemp for the upcoming 2018 growing season. The property was chosen because of its history of growing hemp as well as having sufficient authorized water rights to allow for irrigated cultivation. The property, located in the fertile Willamette Valley approximately 70 miles south of Portland, Oregon, was acquired for US$1.1 million in stock and cash.
On August 30, MCOA announced an update on their CBD hemp farming joint venture in New Brunswick, Canada. The partners are pleased to announce that the Projectâ€™s industrial scale dryer from Cann Systems was delivered last week and has now been installed. The dryer holds multiple bins of material, for a total processing capacity of just over one tonne of fresh hemp biomass per load. Initial testing is in progress and will be completed by the end of this week. The Company will wait until implementation of the Cannabis Act on Oct. 17, 2018, at which time the biomass can be legally sold for extraction.
It is now nearing harvest time at the New Brunswick Hemp Project. To maximize profit, it is important to harvest as much of the higher CBD content flowers and leaves as possible, without undue amounts of the low to no CBD straw (the stalk). This yearâ€™s drought has complicated matters as the hemp plants have tended to be shorter than usual, and the weeds are taller as they were able to get a head start before the hemp began growing, although the hemp is still displaying very healthy and weighty inflorescence.
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Currently trading at a $79 million market valuation MCOA has just $54k in the treasury and significant debt on the books. The Company has small but growing revenues reporting $28k in sales for the 3 months ended June, 30 2018 more than double from the year before. MCOA is currently operating in the hottest sector in the market and has been making some big movers in recent months. MCOA is led by seasoned CEO in Donald Steinberg the man behind MJNA back in its hay day and has been highly successful in quickly attracting a large shareholder following. Once investors see REAL crop yields this one could really run. We will be updating on MCOA when more details emerge so make sure you are subscribed to Microcapdaily so you know whatâ€™s going on with MCOA.
Disclosure: we hold no position in MCOAÂ either long or short and we have not been compensated for this article.