Business
Marijuana Company of America CEO's Year-End Overview and Outlook for 2020
Marijuana Company of America CEO's Year-End Overview and Outlook for 2020.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\n\n\n\nMarijuana Company of America CEO's Year-End Overview and Outlook for 2020\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMarijuana Company of America CEO's Year-End Overview and Outlook for 2020\nPR Newswire\nESCONDIDO, Calif., Dec. 18, 2019\n\n\n\nESCONDIDO, Calif., Dec. 18, 2019 /PRNewswire/ -- Marijuana Company of America, Inc. (\"MCOA\" or the \"Company\") (OTCQB: MCOA), an innovative hemp and cannabis corporation, is pleased to announce the CEO's overview of the highlights of the Company's performance in 2019 and optimistic outlook for fiscal year 2020. \n\n \n \n\n \nThe Company is excited to announce that it is expecting to close 2019 with gross sales of approximately $650,000 compared to sales of $252,135 in 2018. This 258% increase in sales year over year is a direct result of the Company's successful marketing efforts in Europe and growth of its affiliate base in the US. \nJesus Quintero, the Company's Chief Executive and President, said, \"MCOA has never been better positioned to take advantage of the numerous opportunities in the cannabis sector than it is now. We believe there is going to be a significant shakeup in the cannabis sector in 2020, and MCOA is prepared to take advantage of the numerous opportunities that will be available. We are going to be focused on streamlining our core business operations, increasing sales, and pursuing some M&A activity with distressed assets that fit our portfolio parameters. In 2020, our shareholders will notice radical change at MCOA. The Company will have an entirely different culture, new leadership, and new business models and make strategic acquisitions as we position ourselves for what we expect will be a breakout year – it's a new day at MCOA!\"\nThe Company was also able to strengthen its margins in Q4 by reducing production costs, finding new manufactures/suppliers, and overhauling its overall product sales approach. These significant changes will be more visible and are expected to positively impact the Company's financial position in 2020. One of the most significant changes the Company...