Marijuana Company of America, Inc. Reports First Quarter 2021 Financial Results and Provides Corporate Update

CANNANNEW REPORT

ESCONDIDO, CA / ACCESSWIRE / June 2, 2021 / Marijuana Company of America, Inc. (OTC PINK:MCOA), a diversified holding company with operations and investments in various private and publicly traded companies diversified throughout the cannabis industry, today announced its financial results for the quarter ended March 31, 2021, and provided an update on its corporate developments.   Highlights from the Quarter Ended March 31, 2021: Current assets grew to $1,738,978 as of March 31, 2021 compared to $537,593 at December 31, 2020, representing a dramatic 223% increase in only three months. Cash at end of first quarter 2021 was $639,983 as compared to $55,251 at the end of December 31, 2020, providing the company with more funds for acquisitions and operations. Full migration to e-commerce sales platform started in Q1 Rebranding of hempSMART CBD Products to Promote Mental and Physical Wellness Named Board Member Marco Guerrero as Executive Vice president of the Company’s hempSMART Brazil and hempSMART Uruguay subsidiaries. Signed Strategic Collaboration Agreement with Eco Innovation Group Inc. (OTC: ECOX) Announced International Logistics and Distribution Agreement for hempSMART CBD Products with fulfillment.com, an award-winning order fulfillment company serving high-volume national and global ecommerce brands. Released hempSMART Powder Mix Drink, a powdered premium CBD drink Assisted JV partner, Cannabis Global Inc. (OTC: CBGL) with increasing revenue potential at the cannabis manufacturing facility in Lynwood, CA that MCOA owns a direct interest in.     MCOA’s Chief Executive Officer, Jesus Quintero, said, “We are very pleased with all the efforts and achievements we accomplished during the first quarter. It was a busy quarter as we initiated our international sales efforts, rebranded our hempSMART products, and for the first time launched our own e-commerce platform. We are poised for growth and have the necessary capital to deploy in order to secure key acquisition targets.…

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Source : Marijuana Company of America, Inc. Reports First Quarter 2021 Financial Results and Provides Corporate Update

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