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Marijuana Company Of America Reports Increased Revenues And Other Positive Financial Developments In 2019 Annual Report
Marijuana Company Of America Reports Increased Revenues And Other Positive Financial Developments In 2019 Annual Report.
About this update from Marijuana Company Of America, Inc.
[{"type":"text","content":"\n\n\n\nMarijuana Company Of America Reports Increased Revenues And Other Positive Financial Developments In 2019 Annual Report\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 Reports Increased Revenues And Other Positive Financial Developments In 2019 Annual Report\n-- Revenue increased from $252k in 2018 to $695k in 2019 - increase of 176%\n-- Gross Profit increased from $171k in 2018 to $447k in 2019 - increase of 161.3%\n-- Gross Margin remains stable - 64.2% 2019 vs 67.8% in 2018\n-- Operating Loss % decreased from 1513% in 2018 to 931% in 2019\n-- Total assets decreased by 40.4% from 2018 to 2019\n-- Total liabilities increased by 132.4% from 2018 to 2019\n-- Stockholder's deficit decreased by 238.5% from 2018 to 2019\nPR Newswire\nESCONDIDO, Calif., May 20, 2020\n\n\n\nESCONDIDO, Calif., May 20, 2020 /PRNewswire/ -- MARIJUANA COMPANY OF AMERICA INC. (\"MCOA\" or the \"Company\") (OTC: MCOA), an innovative hemp and cannabis corporation announces audited financial results for the year ended December 31, 2019, as reported in its annual report on Form 10-K. Here are some of the notable highlights for the FY2019:\n\n \n \n \n \n \n \n\n \nTotal revenues of hempSMART products were $695,076, for the year ended December 31, 2019, as compared to $252,135, for the year ended December 31, 2018, representing a significant 175.7% increase year to year. Gross profit for 2019 increased to $446,520 on gross sales of $695,076 (64.2% gross margin), compared to a gross profit of $170,885 on gross sales of $252,135for 2018 (67.8% gross margin). Net operating loss for 2019 was 931% vs 1513.1% for 2018. For the year ending December 31, 2019, the Company realized the following one-time expense items: loss on settlement of debt and unrealized loss on trading securities. Total assets decreased by 40.4% from $1,919,782  in 2018 to $1,143,722 in 2019.  This decrease is due primarily to the sale of its short-term investments. Total liabilities increased by 132.4% from $ 5,053,887 for 2018 to $11,745,924 for 2019.  This increase was largely due...