mCig Reports 446% Increase in Revenue for the Most Recent Quarter

mCig (OTCQB:MCIG) reported the filing of its 3rd Quarter financial reports with the SEC. Highlights of the company’s earnings statement includes a 446 percent increase in revenue in the three months ended January 31, 2017 compared to the same quarter in the previous year. Current assets reported are at $1,259,689. 
As quoted in the press release:

Highlights of the earnings statement include:
Three months ended January 31, 2017 compared to the three months ended January 31, 2016

• Revenue increased 446% to $1,362,689 compared to $249,641
• Gross profit increased 239% to $288,230 compared to $85,076
• Expenses decreased 27% to $97,052 compared to $133,236
• Cash and cash equivalents increased 422% to $420,888 compared to $80,542
• Current assets increased 1,241% to $1,259,689 compared to $93,930

Three months ended January 31, 2017 compared to the three months ended October 31, 2016

• Revenue increased 120% to $1,362,689 compared to $620,015
• Gross profit increased 31% to $288,230 compared to $220,151
• Expenses decreased 63% to $97,052 compared to $262,437
• Cash and cash equivalents increased 47% to $420,888 compared to $285,812
• Current assets increased 116% to $1,259,689 compared to $583,695

Subsequent actions during this quarter

• VitaCig experiences its best month in its history exceeding all of last quarter’s revenue numbers for its segment

• MCIG enters into joint venture for expansion of its VITACBD brand.

• MCIG expands operations to include new cannabis supplies segment

• Grow Contractors expands operation to include Oregon, where it is constructing a new facility.

• MCIG completes its first construction project and awaiting clients Certificate of Occupancy

Click here for the full press release.