mCig, Inc. (OTCMKTS:MCIG) Taking Off With The Rest of Them
mCig, Inc. (OTCMKTS:MCIG) was somewhat hesitant to take to the top of the charts with the rest of the companies in the marijuana branch, but now its belated ascent is finally a fact. The last three trading sessions have increased its market value more than 15% percent and it looks like things are just heating up for the ticker.
Yesterday alone brought MCIG a 7.08% jump in spite of the lack of PR or disclosure from the company. Just as with Hemp, Inc. (OTCMKTS:HEMP), the prospect of Oregon and Alaska making pot legal has done MCIG stock a ton of good, in spite of the fact that the company has very little to do with actual marijuana.
Just like with HEMP, MCIG‘s latest financial report paints an unimpressive picture:
- cash – $225 thousand
- current assets – $2.16 million
- total assets – $2.8 million
- current liabilities – $7 thousand
- quarterly revenues – $195 thousand
- quarterly net loss – $1 million
Unlike HEMP, however, MCIG actually has revenues and a bit of cash to its name. That is not much, admittedly, but at least it looks like the company is trying to achieve something.
