Business
mCig, Inc. Provides Update on Obitx Spin-Off and Other Corporate Developments
mCig, Inc. Provides Update on Obitx Spin-Off and Other Corporate Developments.
About this update from Bots Inc.
[{"type":"text","content":"\n\n JACKSONVILLE, FL, Feb. 12, 2018 (GLOBE NEWSWIRE) -- mCig, Inc. (OTCQB: MCIG) subsidiary Obitx, Inc. (OBITX) (www.obitx.com), a technology company providing advertising and marketing products and services using digital technologies across the Internet, mobile devices, displays, and other digital mediums, utilizing a proprietary cloud-based social media platform filed its S-1 Registration Statement with the Securities and Exchange Commission (SEC), and is providing an update to its shareholders on the status of the OBITX Spin-Off.\n On Friday, February 9, 2017, Obitx, Inc. filed an (S-1) registration statement with the Securities and Exchange Commission. During this process, it is routine for the applicant to receive questions from the SEC in regards to the subject dividend. “Management expects the combination of two stocks, one representing the value of the different cannabis businesses that remain in the parent company, and the other representing the value of technology operations to yield a greater return for shareholders,” states mCig CEO, Paul Rosenberg. Latest developments for mCig, Inc: Management will have an interview on Thursday, February 15th in California City, CA, updating its shareholders on its application status and its expectation of receiving approval to hold licenses to grow, manufacture, and distribute cannabis products in the State of California.The cannabis supply division continues its growth seeing an increase in business coming from California and other states.Is working with partners in revamping the vitacbd.com website to showcase a new line of CBD products launching in the next 60 days.Continues to take interest in other companies by growing the business through acquisition and internal business development. Each business opportunity we acquire and/or develop will be considered for a potential “spin-off” creating separate public entities through the issuance of a dividend to MCIG’s current shareholders. The information technology spin-off, OBITX, is the second in a planned series of spin-offs of the company’s divisions and subsidiaries. Latest developments for OBITX, Inc: Completed its S-1 registration and will soon (upon approval) become its own separate public companyOBITX has seen extensive growth as more and more companies seek increasing interest in the comp...