- MCOA just posted its highest quarterly revenue yet in Q3 2021, attributed to the cDistro acquisition, which was completed towards the end of Q2 2021
- MCOA looks forward to having another record-breaking quarter in Q4, 2021, primarily attributed to additional benefits of the cDistro acquisition, along with strategic partnerships with key players within the legal cannabis and industrial hemp sectors
- The company continues to forge these partnerships to diversify its product and services line and provide consistent value to its shareholders
Marijuana Company of America (OTC: MCOA) released financial results for the three months ended September 30, 2021 (“Q3 2021”), posting a 731% year-on-year increase from the same period in Q3 2020. Total revenue stood at $442,178 up from $53,195, with gross profit up from $16,025 in Q3 2020 to $63,687, representing a 297% growth over that period (https://cnw.fm/nfYDO).
MCOA has attributed this impressive growth to its new acquisition of cDistro, an enterprise that distributes CBD brans, smoke, and vape shop-related products to specialty retailers, wholesalers, c-stores, and consumers within the North American market (https://cnw.fm/3U4jm). The acquisition, completed towards the end of Q2 2021, was a tremendous milestone for MCOA. But, more importantly, it positioned the company to take advantage of immediate revenue granted by the opportunity to carve out a significant market share in the specialty distribution space.
With this acquisition, and the steps taken so far regarding expanding the company’s market reach and product line, MCOA is confident that it will have another record-breaking quarter in Q4 2021.
“We are confident that the steps we are taking will enable us to maintain a growing strong position as we drive growth across the entire business and maximize value for our shareholders over the long term. Our expectation is that we should have another record-breaking quarter in Q4 2021, since we will report a full quarter of revenue from our newly acquired cultivation facility in Salinas, California,” noted Jesus Quintero, the Chief Executive Officer (“CEO”) of MCOA.
In addition to acquisitions, MCOA has also tapped into strategic industry partnerships to push its growth. So far, it has operations in North America and Latin America, primarily through partnerships with enterprises such as Cannabis Global Inc. (OTC: CBGL), Eco Innovation Group Inc. (OTC: ECOX) and Natural Plant Extract. CBGL currently markets and produces innovative cannabis storage, transport, and tracking solutions and is also the company behind the Hemp You Can Feel(TM) brand. ECOX, on the other hand, has cutting-edge extraction technology that utilizes a proprietary formulation to extract bioactive compounds from cannabidiol, which is then combined with plant-based materials to create a fluid and cost-effective outcome. Natural Plant Extract operates a licensed cannabis manufacturing and distribution business in Lynwood, California.
MCOA remains committed to expanding into new regions around the world. Its goal is to utilize its resources and its strategic partners’ success to continue growing its product and services line. Ultimately, this will provide consistent value to shareholders while also sealing its position as the leader in the legal cannabis and industrial hemp sectors.
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com.
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
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