According to a report from Greenwave Advisors – a firm focused on analyzing financial information for the marijuana industry expects legal cannabis to be an industry that generates “$35 billion by 2020 if marijuana is legalized at the federal level.” This has only been based off of the states that have legalized marijuana, which has been extremely profitable. For instance, Colorado has made more money in tax revenue from marijuana than it has in the last year; the legal cannabis industry made $70 million from sales as alcohol made under $42 million.With elections coming up, depending on who wins elections, the amount of money in the pot industry could multiply exponentially.
mCig Inc (OTCMKTS:MCIG) is a company that is working toward becoming the primary distributor of “technology, products, and services” for both medicinal and recreational marijuana. Because of mCig’s multiple channels and sub-distributors, the company has been able to sell their products throughout United States, United Kingdom, Europe, and Asia. mCig is also primarily focused on providing an entire line of products, technology, and services. mCig Inc (OTCMKTS:MCIG) is able to maintain its position on top by distributing CBD Vape lines along with other profitable CBD products. Check out more information on the company and what their future plans are: http://bit.ly/1KiHuJZ
Last week, mCig reported a positive cash flow. Over the three-month-period that ended on July 31, 2015, the company reported a revenue of $369,093. In 2014, at the end of July, the revenue was $107,446 which means that there has been an impressive 240% increase. mCig also reported a “Gross Profit Margin of 34.4%” during that same quarter. These numbers still do not include orders from their popular new Just Chill Brand, which is believed to contribute to a rise in Gross Profit Margin in future quarters.
Here’s what the company’s CEO, Paul Rosenberg had to say: “mCig Inc. continues to grow and maintain brand momentum. This quarter was an important transitional quarter for us because we completed a full operational reorganization of the Company.” This brought in positive momentum for MCIG, seeing a 30.79% change throughout the week. Since Monday, MCIG saw lows of $0.0302 and highs of $0.0395.
To follow this up, mCig announced on September 21 that the company would be officially servicing the cannabis grow space with the introduction of a novel product called CannaPods. This is the newest under the “Powered by MCIG” brand and a welcome addition to the marketplace. Growth is incredibly evident since legalization first took hold in 2014 and MCIG has made drastic adjustments from turning a very “vapor centric” product suite into what is now a full scale seed to sale business model. The Powered By MCIG CannaPods 2.0 and 2.0 XL are constructed using SIP panels, which create a hermetically sealed, mold-free, and sterile clean room environment that is highly insulated and ultra-energy efficient.
“Everyone is now realizing that the only solution for beginning growers with large visions are modular systems, and by simply adding Pods, the cultivators can increase their facility size as their business expands. We are also proud to announce that in addition to our pre-engineered models and warehouse conversion kits, the Hybrid GreenHouse Black-out Roof is now available furthering our commitment to be on the cutting edge of technology.”
Filene Lehman, President and CEO of Cannapods
The interiors are carefully designed and approved by the industry’s leading growing consultants and feature components by top brand names in the business; Cooling by Samsung, Link 4 Environment Control, Black Dog Led lights, Titan Co2 Enrichment Kits, IC Real Time Security System by Security Grade, and much more. Growers can control the growing environment using an IOS or Android smart phone…essentially MCIG has created a fully enclosed “plug and play” product for large scale and “residential level” growers in the marijuana industry.
“One of the fastest growing segments in the Cannabis Industry is the need for full solution grow equipment, and CannaPods are an affordable and easily installed answer to those needs…As we were building relationships with growers of all sizes, we recognized that most medicinal and legal recreational states are allowing individual growers to remain players in the space. Partnering with CannaPods through a Master Distributor Agreement allows us to appeal to experienced growers as well as new players in the industry with the MCIG CannaPods 2.0 and 2.0 XL. MCIG also offers various equipment, consulting, and technology for growers to further enhance their investment.”
Paul Rosenberg-CEO mCig Inc.
With research firms like ResearchAndMarkets estimating the overall value of the North American Cannabis market to reach nearly $21billion within the next 5 years, more entrepreneurs are scrambling to grab a foothold in a space that until now was seen as a black market of sorts. Business men from Wall St. to Main St. are diving in head first yet they lack the overall knowledge to actually cultivate the products necessary to thrive within the space. CannaPods have now opened a door making this a very quickly accessible space for novice and experienced organizations country-wide. The reports notes that the future growth of the cannabis market is largely reliant on the legalization of recreational or adult use of marijuana which is expected to gain a market share of almost 30% by 2020.
Also in the space, Ambient Water Corp (OTCBB:AWGI) has been analyzing the potential of the marijuana industry. Ambient Water Corp (OTCBB:AWGI) CEO Keith White stated, “As the industry becomes more commercialized over the next several years, growers are looking to get out of the typical warehouse-grow operations.”
It has been anticipated there will be over 12,000 stores selling some form of marijuana, be it recreational or medical, in the US by 2020. To date, four states — Colorado, Washington, Alaska and Oregon — have legalized retail marijuana. Washington, D.C., voters also legalized recreational marijuana use, but sales currently remain banned. Twenty-three states have legalized medical cannabis. Still, marijuana remains illegal at the federal level. More than 1.5 million shoppers purchased legal marijuana from a dispensary, either medical or recreational, in 2014. Five states now boast marijuana markets that are larger than $100 million, and in Colorado and Washington — the first states to open retail marijuana shops in the U.S. — consumers bought $370 million in marijuana products last year.
