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Marijuana Company Of America Inc (OTCMKTS:MCOA) Updates On JV Project In Oregon: Reports Revenues Of $695,096 From Its hempSMART Products

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With the state of Oregon allowing essential services during COVID-19 pandemic, Marijuana Company Of America Inc (OTCMKTS:MCOA) managed to operate its hemp farm without any disruptions taking the help of CBA (Covered Bridge Acres). CBA adopted all safety measures to ensure hassle-free operation of the farm.

Satisfies flower and biomass demand

CBA is engaged in growing high cannabidiol hemp since acquiring the Scio farm in the year 2018 and satisfies the demand for flower and biomass. However, the sales of these products are sluggish because of the coronavirus crisis and excessive production in 2019. To promote growth, CBA will focus on growing high-quality cannabigerol (CBG) flower at its greenhouses. CBG flower satisfies the demand for a smokable flower segment.

Production of smokable buds

CBA will utilize SCROG cultivation method to grow hemp and allow the average production of up to 90% tops from each plant. The company will produce smokable buds by trimming the tops. It will apply high-quality nutrients at the right time to improve the development of aromatic and dense buds used in the final product. The company aims to maintain leadership in the Smokable cannabigerol flowers and meet the growing demand. Though CBA booked initial sales of biomass in 2019, coronavirus has impacted the marketing of other products. The company is exploring opportunities to book sales in other areas.

Reports a year-on-year growth of 175.7%

Marijuana Company has reported revenues of $695,076 in 2019. It represents a year-on-year growth of 175.7%. The company’s assets dropped to $1.143 million (down 40.4%) in 2019.

Substantial savings on hempSMART products

hempSMART is offering its products at a discounted rate allowing customers to enjoy significant savings. The country is reopening its economy on a cautious note, and people who emerge from their homes, can strengthen their immunity and keep away illnesses. When the customers shop at its site, hempSMART donates a small portion of the sales to support nurses, doctors, first responders, and hospital workers every week.

HempSMART Global is developing its innovative digital platform that supports hemp products for a wider base of consumers. On an ongoing basis, the company supports philanthropic partnerships.

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