As more and more states look to legalize medical and recreational marijuana, the interest of the shareholders towards companies active in the marijuana industry is rising. In the sector, mCig Inc (OTCMKTS:MCIG) is one of the companies that is fetching huge attention of the market participants. It is every reason to get the attention. The company is continuously looking for potential revenue sources and opting for fruitful partnerships to make the most of growing marijuana industry.
mCig adopted a cohesive plan to extends its services and offerings in the growing marijuana industry. It entered into a partnership deal with Cafe Serendipity. The entity offers professional sales force, specialized marketing team and retail channel. It intends to enter into the casino market. mCig is also shifting its focus on chill CBD oils. There is huge potential in the company which as of now is not recognized by the market.
mCig started as a pen vaporizer company. It is one of those rare OTC companies that have no toxic debt in their books. Even, the other debts are not massive. The company major strength is its shareholder friendly CEO, Paul Rozenberg. He committed to shareholders that the company will not go for devastating dilution. The shareholder friendly attitude was evident when the company also gave its shareholders an equal number of shares in spinoff entity VitaCig Inc (OTCMKTS:VTCQ). During that time, the CEO gave his personal shares for dividend payment.
The future ahead
mCig had made it clear that it intends to transform into a pioneer company in the field of marijuana. Last December, it shared its plans to form a new subsidiary CannaProTech, LLC in Oregon. It was a decision taken at a right time as the state voted to legalize pot for recreational use. The new subsidiary was formed in order to process and distribute cannabis. It was much more in line with its future expansion strategies.