mCig, Inc. (OTCQB: MCIG), a pioneering provider of services and technologies for the legal medical and recreational cannabis industry, disclosed the end of the best quarter in its history, ended April 2015. CEO Paul Rosenberg said that the management is thrilled to share the excellent results with company’s loyal shareholders. The entire team is grateful for the opportunity given to demonstrate that the recent company restructuring measures have started to show clear and positive results.
The expert comments
Rosenberg further added that mCig team is confident that revenues will continue to surge as they launch new and unique products, form new associations, work on corporate structure, and continue to recruit talented people to help bring vision to life. The company strongly believes that revenues can conservatively be estimated to be in the range of 7 million to 10 million for current fiscal. The CEOP further added that they want to thank shareholders for their support and deep confidence in mCig. It is the support of them that keeps company moving forward and innovating.
The factors
mCig stated that there were number of factors that contributed to the outstanding quarter. The company transformed into a leading holding company in the cannabis-based market. It changed its sales force by implementing a “master distributor” model of offering cannabis based products. It recruited a global sales manager to help scale up the prevailing sales structure, and the measure has led to new distributor sales deals, including an contract for a complete range of products. The new deals acted as a key driver to achieved a record quarter and resulting in a improve bottom line.
In last trading session, the stock price of mCig jumped more than 96% to close the trading session at $0.104. The gains came at a share volume of 13.58 million compared to average share volume of 1.17 million.
