BEVERLY HILLS, CA - (NewMediaWire) - November 5, 2015 - mCig, Inc. (the "Company") (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical and legal recreational cannabis industry, updates its shareholders on important progress made during the second quarter:
Operating Highlights for the Quarter Include:
- Best Quarter in Company History. The company expects to report Revenue for the three months ended October 31, 2015 of approximately $850,000.
- The quarterly results highlight the successful business model undertaken by Management.
- The company continues to improve expense management by taking a different approach to compensatory strategies. Management believes the current quarter can be the first in company history to register a net profit.
Creating diverse income streams through product-line launches that are developed, marketed, branded, and distributed by the company will be the primary focus moving forward.
Next week, the company will release its own CBD line of products together with VITACIG Inc. (OTC PINK: VTCQ).
This quarter MCIG will be launching a new online store that will contain a collection of the highest quality CBD tinctures/topicals/edibles/vapables on the market.
Another new project that will beta-test in the quarter will be www.mcigcannabox.com, which will be dedicated to providing innovative and holistic health products on a subscription basis.
"We're very pleased with the excellent progress the company achieved during the last quarter. For the coming quarter and beyond, we remain excited by the many initiatives we have in place for all our brands and projects," said Paul Rosenberg, President and Chief Executive Officer of MCIG.
About mCig, Inc.
Headquartered in Beverly Hills, CA, mCig, Inc. (OTCQB: MCIG) is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants. The company owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. The company believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the CBD and Hemp industries following overwhelming consumer demand.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.