PALM BEACH, Florida, December 12, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Even though this year's farm bill has been delayed, everyone is closely monitoring events lately as hemp and hemp-derived CBD is likely to become federally legal in the U.S. as early as next week. The CBD market, already generating annual revenues in the millions, is poised for another massive boost with the impending passing of the 2018 Farm Bill as investors expressed optimism. Effectively legalizing CBD, the market is projected to explode as obstacles are lessened or completely nixed, allowing companies to maximize their earnings potential with respect to CBD-based products. The Brightfield Group estimates the CBD market will be 40 times its current size in just four years. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Sugarmade, Inc. (OTC:SGMD), Medical Marijuana Inc. (OTC:MJNA), Hemp Inc. (OTC:HEMP), Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF).
Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce that the Company has upgraded its trading tier on the OTC Markets to the OTCQB Venture Marketplace. MCOA views this as an important step in continuing to distinguish itself from other cannabis publicly traded companies. By upgrading its trading tier, the Company will have the ability of providing investors with transparent and reliable audited information of MCOA's operations, overviews of the Company's business strategy, as well as current financial statements every quarter.
By upgrading its trading tier, MCOA hopes to improve its image among institutional investor and broker communities. This upgrade removes some of the limitations put on Pinksheet companies and in turn gives the Company better access to a larger shareholder base and liquidity in the marketplace. The uplisting is also an integral requirement for the S1 registration statement that the Company expects to file with the SEC prior to year-end in order to fund its high growth objectives in 2019.
"Our Company will continue to be aggressive in executing our business plan and we believe this is a necessary step to help legitimize MCOA as one of the top fully reporting public cannabis companies involved in the hemp-derived CBD sector. MCOA will continue to expand our operations in the U.S. as well as launch our hempSMART™ product line internationally in 2019," said CEO Donald Steinberg.
MCOA also announced yesterday the launch of a new corporate hempSMART™ website and marketing platform for its associates. By implementing this new associate platform, hempSMART's customers now have the ability to subscribe monthly to our products creating a pathway to generate an annuity stream of monthly reoccurring revenue with minimal follow up. Since Q3, the Company has already seen an increase in associate signups with the new marketing platform and it is expected that Q4 of 2018 will feature the highest generated revenue of the Company's history.
The new hempSMART platform is focused on incentivizing our current and future associates to take full advantage of our newly structured compensation plan. MCOA anticipates an increase in sales and a continuous influx of associate signups towards year end. Read this and more news for MCOA at: http://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Sugarmade, Inc. (OTCPK:SGMD) last week made comments on its expected revenue growth in hydroponic related supplies considering the rapidly changing California cannabis cultivation licensing situation. As a result of the expected mass "Green Lighting" of annual cultivation permits, Sugarmade is expecting accelerating revenue growth as large cultivation operations begin purchasing cultivation supplies after receiving annual permits. The situation relative to annual licenses required for legal cannabis cultivation in California remains fluid, but is expected to change rapidly over the coming weeks. As of the beginning of November 2018, there were approximately 2,547 annual cultivation licenses under review according to CalCannabis, the licensing agency within the state, with very little movement toward clearing the backlog. The approximately 6,000 licenses issued by the three California licensing agencies have been granted on only a temporary basis with expiration expected, according to California law, in January.
Medical Marijuana Inc. (OTCPK:MJNA) recently announced November as the largest-ever (unaudited) sales month in its history. Subsidiaries Kannaway® and Phyto Animal Health have also booked their largest-ever (unaudited) sales month in their history in November of 2018. The company has also reached major milestones in its business operations. "We are proud to announce that we had such great success in November," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "There is significant change and progress occurring throughout the industry and we are happy to be at the forefront of it." Medical Marijuana, Inc. and its subsidiaries experienced many accomplishments in November, including subsidiary Kannaway® hosting its European Grand Opening in Prague with over 2,000 attendees and releasing a new Pure Liquid Flavored Trio as well as subsidiary Phyto Animal Health signing a distribution agreement with Mr. Checkout, a company that often helps bring Shark Tank innovations to shelves.
Hemp Inc. (OTCPK:HEMP) announced that, in anticipation of the Farm Bill, hemp legalization and cultivation could be a catalyst for explosive growth in a nascent industry that some forecast could top $20 billion by 2022. According to a recent CNBC article, industrial hemp production in the U.S. has been limited to "Mostly research and pilot programs although imports from Canada, China, and Europe have helped fill domestic demand for everything from hemp seeds to fibers. The legalization of hemp cultivation could boost investor interest across the sector." Initially nominated the Hemp Farming Act of 2018, the Senate's version of the farm bill includes provisions to legalize hemp, completely striking it from the federal list of controlled substances. In the 2014 Farm Bill, states were permitted to run pilot programs in order to research its viability for commercial production. The 2018 Farm Bill is expected to federally legalize hemp before the end of this year.
Liberty Health Sciences Inc. (CSE:LHS.CN) (OTCQX:LHSIF) recently announced it has opened its first south Florida dispensary today in the heart of Miami . The new dispensary provides customers in Miami-Dade County , the most populous county in Florida , access to premium quality medical marijuana products and educational services. Located at 6827 Bird Road, Miami, FL. , the state-of-the art dispensary is open Monday through Friday, 10 a.m. to 7p.m. , Saturday, 10 a.m. to 5 p.m. , and Sunday 12 p.m. to 5 p.m. Bird Road is one of the oldest and busiest state roads in Miami , with traffic exceeding 70,000 vehicles per day. It is a primary artery that feeds the main suburbs in Miami such as Coral Gables , West Miami , South Miami , Westchester, and Kendall. In addition to the Miami location, Liberty plans to open 3 more dispensaries this month with more to come in 2019, all subject to the receipt of Florida Department of Health approvals. "Liberty remains committed to ensuring that its premium quality medical marijuana products and educational services are accessible to the more than 2.7 million people who call South Florida home," said George Scorsis , CEO of Liberty Health Sciences. "When people come to our dispensaries, they know they will find the highest quality medicinal cannabis. They also trust that they are going to have access to the best brands in any category, including PAX and Mary's Medicinals products.
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