Marijuana Company of America, Inc. Reports its Highest Quarterly Revenue Since Inception for Q3 2021

CANNANNEW REPORT

LOS ANGELES, CA, Nov. 18, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Marijuana Company of America, Inc. (OTC: MCOA) (“the Company”), a diversified company with operations and investments throughout the cannabis industry, today announced its financial results for the third quarter and nine months ended September 30, 2021.  This is the Company’s highest quarterly revenue reported in its history. Total revenues for the three months ended September 30, 2021 and 2020, were $442,178 and $53,195, respectively, an increase of $388,983. This increase is mainly attributable to $407,246 of product sales from our new acquisition of our distribution company called cDistro, which began full operations during the quarter ended September 30, 2021. In addition, MCOA also recorded $12,581 in equipment lease revenues to a cannabis distributor and manufacturer as part of its Lynwood-MCOA joint venture with JV partner Cannabis Global Inc. (OTC: CBGL). “During the third quarter 2021, despite the fact that we have been in the midst of a global pandemic, the Company produced the highest revenues in its history,” said Jesus Quintero, CEO of Marijuana Company of America, Inc.  “Our Q3 financial performance was strong and reflects our ability, despite being in a challenging environment, to execute on the strategy by diversifying within the Cannabis industry thru strategic acquisitions along with organic growth.” Quintero added, “We continue to grow and adapt our business as demonstrated by our entrance into the South American markets via the creation of our new hempsmart-Brazil and hempsmart Uruguay operations, focusing on increasing customer engagement to support the value of our products for the first time globally.” For the three months ended September 30, 2021 and 2020, gross profits were $63,687 and $16,025, respectively, an increase of $47,662. This increase is mainly attributed to gross profits from our acquisition of cDistro which began full operations…

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Source : Marijuana Company of America, Inc. Reports its Highest Quarterly Revenue Since Inception for Q3 2021

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