A significant number of companies in todays climate are facing huge obstacles as they attempt to get out from under the fiscal impacts caused by COVID-19. Today, Marijuana Company of America Inc. (MCOA) released a interview that showed some positive insights into where the company is going now that new management has taken over, and already making an impact.
In 2020, amidst a global pandemic, the Company was able to reduce expenses and overhead. The new management team is credited with reducing the burn rate by over 50% since taking over in late 2019.
This means that the company has dramatically reduced its requred spending to finance overhead, leading them on the track to become “cash-flow Positive”. By eliminated the burn rate by 50%, the company can focus on its growth initiative,
The growth strategy is to respond to growing interest in its hempSMART™ CBD products and to increase its penetration of the markets it currently serves in the United States and abroad. MCOA manufactures all its products in-house and goes to great lengths to ensure their products are of the highest quality.
Marijuana Company of America Inc., the company who recently announced expansion of sales and marketing of its premium hempSMART™ CBD product lines to Latin America has made a strategic investment with Cannabis Global, Inc., a cannabinoid and hemp extract science company developing infusion and delivery technologies. The transaction integrates two complementary businesses in the growing CBD sector. This coincides with the new push of state legalization legislations.