Marijuana Company Of America, Inc. (OTCMKTS:MCOA) bills itself as a cannabis and hemp marketing, consulting, and distribution company. Like the stocks of a lot of the other cannabis related companies that we cover here on Street Register, MCOA stock has enjoyed a resurgence in recent months.
Beginning in October, and generally persisting to the present time, MCOA has seen marked growth on the chart, staying ahead of its moving averages for the vast majority of that time frame. After an initial run that took it from sub-penny pricing to a whopping .20, the stock pulled back briefly before setting off on another run. In the last two months, it has seen a swing from roughly .04 to more than a dime per share.
Marijuana Company Of America, Inc. (OTCMKTS:MCOA) has reaped some of the side benefits from operating in what is simply the hottest, most trendy sector for OTC-traded stocks at the moment and for the foreseeable future, but the company itself has taken steps to clean up its reporting standards for an eventual uplisting. More details below.
About Marijuana Company of America
Marijuana Company of America, Inc. is a development-stage company. The Company is a cannabis marketing and distribution company that distributes medical cannabis products. The Company provides product sourcing, branding, payment, distribution and knowledge through an architecture structure to maintain customer loyalty and capture market share. The Company is developing a knowledge base complete with information from subject matter experts, medical articles and opinions, current articles, YouTube and other videos, blogs, and industry news and papers. The Company provides information on strains, and other processed products that will be available through its club. It will track industry and consumer information and post to its social media and online knowledge base. It offers collectives and dispensaries in legal medical marijuana states marketing and managed services designed to improve membership and transactions.
MCOA Efforts to Become Fully-Reporting
At the end of 2016, MCOA made its intentions clear regarding shifting to a fully transparent, fully reporting company with the ultimate goal of uplisting to a higher exchange. The company engaged the necessary auditors to conduct a two-year review and gather all the necessary materials to present its case for uplisting.
CEO Donald Steinberg said: “Our goal is to be a fully transparent reporting public company. As we grow and take these major steps, we want our shareholders to be well-informed about our plans and our progress. By becoming a fully-reporting, transparent public company, we may be better positioned to enhance stock liquidity and attract institutional investors, which will fundamentally enhance the value of our Company.” (Via: MarijuanaCompanyOfAmerica.com)
Shift from Development Phase to Revenue-Generating Company
One of the key precursors to MCOA’s enhanced reporting efforts occurred in the fall, when it announced that it was officially a revenue generating entity, thanks to the launch of its hempSMART line. The hempSMART brand is a non-THC, hemp derived, product line. All hempSMART products are formulated with a cannabinoid base that is derived from hemp and has less than a .3% THC content.
Marketing Director Tim Altvater commented: “The hempSMART product roll-out is a marketer’s dream come true – especially for those of us in the direct sales industry. Now we can focus on the growth of our affiliate network as people begin to use and share their experiences with hempSMART Brain and the benefits of the hempSMART compensation and rewards program. The ability for entrepreneurs to represent the highest quality products, backed by science, to consumers that are in need and seeking them is the driver for our industry’s continued growth and appeal.” (Via: MarijuanaCompanyOfAmerica.com)
We’re anxious to follow along with MCOA on its journey to becoming a fully reporting company, and eagerly await the results of the two-year audit currently being performed on its books. This of course goes hand in hand with our interest in the marijuana market in general at the moment, with no end in sight. Keep coming back to StreetRegister.com for updates on this and other pot stocks, and a whole lot more! Also get yourself signed up for our 100% free smallcap newsletter right away! Just enter your email address into the field below and hit Subscribe Now!