- Marijuana Company of America is based in the United States and has begun launching its cannabidiol (CBD) products in the United Kingdom and Europe
- The cannabis and hemp industries are expected to be worth $66.3 billion worldwide by 2025
- The CBD market in Europe is expected to grow by more than 400 percent through 2023
- MCOA’s revenues increased by 840 percent year-over-year during 2018 and, at the end of the first quarter of this year, were up by 504 percent year-over-year
Marijuana Company of America Inc. (OTCQB: MCOA) has been flexing its muscle in the cannabis and hemp industries during recent months by building inroads to California’s world-leading market while also expanding into the international arena. The company is developing a diversified income base that provides a measure of security to shareholders while increasing its presence in a fledgling space that has exploded to such a degree that the industry is expected to hold a $66.3 billion global capitalization by 2025, growing at a CAGR of 23.9 percent, according to Grand View Research Inc. analysis (http://cnw.fm/yBL91).
MCOA noted in June that it had successfully launched its hempSMART subsidiary’s products in Scotland, selling out its cache and signing up of numerous new marketing associates (http://cnw.fm/5m2VV). The company followed up on the news by reporting that it had advanced into the Netherlands with its prime quality botanical ingredients, again selling out the cache of products that representatives had taken with them.
“The Netherlands launch was a complete success, with people traveling from other parts of Europe to witness the excitement around our hempSMART CBD product line,” Global Sales Director Ian Harvey stated in a news release (http://cnw.fm/h3RwC). “Our high-quality CBD products combined with our compilation of highly knowledgeable hempSMART team members have effectively increased the company’s footprint into the compelling European market.”
Analysts at predictive market intelligence company The Brightfield Group issued a forecast calling for the cannabidiol market in Europe to grow by more than 400 percent from 2018 to 2023, increasing from a starting value of about $318 million, according to MCOA’s report on the Netherlands launch.
As young as the cannabis sector is in North America, it’s even newer in Europe, and, as the tide of interest begins to turn there, Canadian companies are leveraging their power to raise money legally and aggressively go after new opportunities in the making across the Atlantic (http://cnw.fm/sz8Ye).
MCOA’s investments and joint ventures (http://cnw.fm/KeZH9) form a portfolio of businesses based in the United States that are intent on improving the quality of life of customers through “healthy, sustainable alternatives to many products currently on the market.” Because it is headquartered in the state-legal cannabis arena of California – the world’s largest marketplace – the company is also finding itself in prime position to build a competitive presence overseas.
“As Marijuana Company of America embarks on 2019, we find ourselves with many new partners, joint venture relationships and a very powerful consortium of companies who share our strategic global vision,” CEO Don Steinberg stated in a letter to shareholders in May (http://cnw.fm/wdK93). “Building a global network marketing company with organizations in dozens of countries is challenging, fun, educational and rewarding. We look forward to the future of this company as we roll out our global business plan.”
The company’s year-end financials report issued in April noted an 840 percent year-over-year increase in revenue and a gross profit margin of 68 percent, followed by a reported 504 percent year-over-year revenue increase for the first quarter of 2019 with gross margins of 65.3 percent (http://cnw.fm/4mHhX).
“Our passion from the beginning has been on our hempSMART wellness products, which continue to successfully generate demand and interest worldwide. As a result, we have significantly expanded our hemp research and growth business,” Steinberg added. “With our powerful consortium of partners and joint venture relationships, we believe we are strategically positioned to vertically integrate our operations and further increase our revenue potential.”
For more information, visit the company’s website at www.MarijuanaCompanyofAmerica.com
NOTE TO INVESTORS: The latest news and updates relating to MCOA are available in the company’s newsroom at http://cnw.fm/MCOA
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