Although mCig, Inc. (MCIG) suffered a revenue decline in the last quarterly filing, the news of the formation of a new 100% owned subsidiary, mCig CBD Technologies, LLC in Colorado sparked a nice surge of over 40% to $0.30 per share at the close on Tuesday.
From the looks of it, MCIG is looking to improve on the sales of their VitaCig® line of products which delivers Cannabidol (CBD) derivatives which are shown to have positive effects on largely hard-to-treat diseases like epilepsy.
It is important to note there are over 70 CBD derivatives in a cannabis plant. One of these includes THC, which is bewitchingly the only substance in the weed with such ‘devastating’ psychoactive effects to make the list as a Schedule 1 drug under the Controlled Substances Act enacted in 1972.
We all have to admit the booming pot market has seen its busts with many small cap companies simply ‘vaporizing’ in stock value after extraordinary claims and wild ideas attracting the uninformed investor. But it looks like MCIG could be a real deal for the long-term with their recent moves and some actual sales revenues.
With pot-smoking baby boomers retiring; who may be likely suffering a host of ailments which CBD cannabis derivatives could potentially provide some relief (besides getting high), it looks like legitimate companies in the legal cannabis industry should be on any smart investors watch list.
Is mCig, Inc. (MCIG) one of these companies? Do you your due diligence… without a toke… preferably.
Here’s a mainstream media video on their products for your viewing enjoyment:
http://finance.yahoo.com/q?s=MCIG
The post mCig, Inc. (MCIG) Surges on New Subsidiary News appeared first on TKO Stocks.