Marijuana
Company of America (OTCQB: MCOA), an innovative hemp and cannabis
corporation, today released audited financial results for the year ended
December 31, 2019, as included in its annual report on Form 10-K. Among the
notable highlights, the company reported a significant 175.7% year-over-year
increase in total revenues to $695,076 for the year ended December 31, 2019, as
compared to $252,135 for the year ended December 31, 2018. “Our financial
results reflect a transition as our company converts from a Research and
Development company to a marketing-product based company,” MCOA chief executive
officer Jesus Quintero stated in the news release. “Our financial losses
reflect our commitment to terminate non-profitable relationships and
investments which have resulted in diminishing cashflows. MCOA, through its
hempSMART brand, has experienced a dramatic increase in sales and gross profits
during 2019. As we move forward in 2020, our commitment is to improve
shareholder’ values through increased sales, steady profitability and expense
reductions throughout 2020.”
To view the full press release, visit http://ibn.fm/TDO1x
About Marijuana Company of America Inc.
MCOA is a corporation that participates in: (1) product
research and development of legal hemp-based consumer products under the brand
name hempSMART(TM), which targets general health and well-being; (2) an
affiliate marketing and retail sales program to promote and sell its legal
hemp-based consumer products containing CBD; (3) joint ventures and
acquisitions of business entities engaged in the growth and sale of hemp and
cannabis products in jurisdictions where cultivation is legal; and (4) the
expansion of its business into ancillary areas as market opportunities in this
segment mature and develop. For more information, visit www.MarijuanaCompanyofAmerica.com.
NOTE TO INVESTORS: The latest news and updates
relating to MCOA are available in the company’s newsroom at http://ibn.fm/MCOA
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