Business
MCIG Provides Shareholder Update on Corporate Developments
MCIG Provides Shareholder Update on Corporate Developments.
About this update from Bots Inc.
[{"type":"text","content":"\n \n \n MCIG Provides Shareholder Update on Corporate Developments\n \n \nMCIG Provides Shareholder Update on Corporate Developments\n \n HENDERSON, NV--(Marketwired - Jun 5, 2017) - mCig, Inc., (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical cannabis industry provides shareholders with a recap of FY2017 highlights, successes and FY2018 outlook and expansion.\n Key Highlights of FY2017:\n \n \n Net Sales increased to $4.5 million, a 158% increase year to year comparison, and a 1,294% increase for the 4th quarter compared to same period last fiscal year\n \nNet income of $1.5 million compared to a $1.4 million loss from the previous year, and an increase of $2.9 million net earnings\n \nCash and cash equivalents of $1.6 million compared to $0.1 million from the previous year (a 1,369% increase), and a 400% increase from last quarter. mCig generated $2.1 million in cash from operating activities\n \nmCig assets increased to $6.8 million, having 6 times more assets than it does liabilities\n \n \n \n \n MCIG has established 4 targets for FY2018 in which to measure its performance. Our collective strategy aims to:\n \n \n Take Aggressive steps to increase revenues and profits.\n \nReach 1 million active combined customers across all MCIG segments.\n \nSpin-off one subsidiary into a publicly traded company, offering a share dividend to all MCIG shareholders.\n \nStrategically enable company to conduct business in diversified sectors, both inside and out of the cannabis industry.\n \n \n \n \n GROW CONTRACTORS\n Grow Contractors (GC) was MCIG's fastest and largest growing segment in FY2017. GC generated more than $1.1 million in working capital for MCIG in FY2017.\n GC has successfully completed its first two contracts, Sin City and Green Leaf Farms. GC's talent and ability to consult and construct, has made our partners capable of meeting deadlines for \"fast-track\" recreational licenses. Both partners have received their official State Certificate of Occupancy to allow them to begin growing cannabis. GC continues to consult for both groups and is working on hiring and building added partnership opportunities in addition to construction. Solaris and Forest Grove projects are full steam ahead...