mCig (OTCQB: MCIG) a Henderson, Nevada-based diversified company serving the ancillary cannabis industry reported promising results for its quarter ending July 31, 2017. Total revenue was up to $3.1 million, with net sales rising to $400K.
The company has transitioned from a vaporizer manufacturer to a cannabis cultivation construction company serving the Nevada market. It is committed to being a leading distributor of technology, products and services to the industry. mCig sees profitability in each operating segment and is developing a 420cloud social network and financial services.
The company has $7.3 million in assets and $1.3m in liabilities, suggesting a strong financial footing. They have offices in 6 continents and are exploring licenses in Nevada, California, Oregon, Florida and Massachusetts.
Source: mCig press release