mCig, Inc. (OTCMKTS:MCIG) Gathering Upward Momentum

[[tagnumber 0]][[tagnumber 1]]After a devastating 4 months of sliding down the charts we saw the stock of mCig, Inc. (OTCMKTS:MCIG) surge and nearly double its price on May 7. That was after the ticker hit a record low for the past year and a half in the previous session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The reason for the positive movement was a press release that announced [[tagnumber 6]]MCIG[[tagnumber 7]] had recorded its best quarter yet and is expecting $7 to $10 million in 2015 fiscal year revenues. The hype, however, was short–lived and [[tagnumber 6]]MCIG[[tagnumber 7]] quickly returned to its downward course. After all, we didn’t get any specifics on the company’s performance in the quarter in question and the numbers contained in the balance sheet for the period ended January 31, 2015 weren’t exactly stellar.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $200 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $771 thousand[[tagnumber 15]] [[tagnumber 14]]total liabilities: $13 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $88 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $743 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Most recently, the ticker proved that it wasn’t just the PR that pushed it up. It seems that $0.053 is as low as [[tagnumber 6]]MCIG[[tagnumber 7]] can go. The ticker reached this price last Wednesday and has since been closing in the green.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Even though the company stock was moving in a positive direction during the last 2 sessions of last week, however, the volumes were low and the daily trade value was below $10 thousand. This is probably when [[tagnumber 6]]MCIG[[tagnumber 7]] decided that a little more PR can’t hurt.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And they were right. Despite not having filed their report for the past quarter that is supposed to impress investors a lot, the company decided that it was time for a mid–quarter update. The fluff PR pushed the ticker another 6.67% in yesterday’s session on more than two times the 30 day average volume, generating $206 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, as we mentioned earlier, we are yet to see what [[tagnumber 6]]MCIG[[tagnumber 7]] has to show for its latest quarter and that should happen in the near future. Until then, be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]