LOS ANGELES, CA / ACCESSWIRE / May 17, 2022 / Marijuana Company of America, Inc. (OTC PINK:MCOA) ('the Company'), operates, invests, and acquires companies exclusively in the cannabis sector.
As I reflect on 2021, we continue to recognize and show our appreciation to the many healthcare workers and companies that have worked to combat the COVID-19 pandemic. MCOA began to enter a phase of our Company's development that we believe will create significant value for shareholders and position the Company to take advantage of opportunities in the growing U.S. cannabis and CBD market worldwide. The Company operates, invests, and acquires companies exclusively in the cannabis sector, and is a multi-state distributor of non-THC cannabis products in the national and international consumer product sectors.
We are excited to have streamlined our businesses and expanded into consumer markets domestically as well as internationally. Our Company has begun its new path to growth and success. The new positive trend also complements the current political environment, as the U.S. Congress considers the legalization of Cannabis, and we are proud to support this trend.
We have been active in strategic acquisitions that fall into diversified cannabis categories. The Company continued to pursue deals to build scale in its existing markets while continuing to look at opportunities that continue to grow our national footprint in the U.S., as well as in emerging markets such as Brazil and Uruguay.
In 2021, we achieved important transformational milestones, which we believe created meaningful intrinsic value and helped to advance us toward our strategic goals. We reduced our debt and overall operating expenses and made significant acquisitions that have generated historic revenue for the Company.
In June 2021, we grew our operations and entered into the Nationwide Distribution business by acquiring cDistro, a leading nationwide distributor of a portfolio of trusted consumer Hemp & CBD branded products to more than 250 wholesalers, c-stores, specialty retailers, and dispensaries in North America. The Company utilizes a drop-ship fulfillment strategy to ensure efficiency, which contributes to greater overall margins. In addition, we plan to launch Vape TV, Inc. for the formation of a new in-store advertising business to be called VapeTV US, Inc. VapeTV UK is a leading European provider of in-house media for the vaping industry, providing in-store display systems for retail vape stores that run paid advertising content for consumer appreciation. VapeTV is currently installed in 1900 + stores in the UK, and we plan to replicate this same success in the U.S.
We are in the process of adding Cultivation to our business platform this year. The acquisition target is a multi-licensed cannabis cultivation and distribution operation that operates within a 10,000-square-foot greenhouse with strong existing repeat customers. Through this potential acquisition, we are excited at the possibility of providing superior efficiency and sustainable cultivation techniques that can provide growers with access to locally grown, high-quality clones to grow cannabis crops faster, and ensure greater yields.
In 2021, we expanded MCOA's consumer product sector business with our signature brand hempSMART™ CBD brand by selling products for the first time in Brazil and Uruguay. hempSMART™ is a premium CBD brand portfolio that we believe provides the purest, most effective, and best tasting products worldwide.
Our 2022 objectives include continuing to seek mergers and acquisitions, as well as strengthening our new businesses by streamlining operations and generating greater awareness. We also look forward to continuing to tell the MCOA story by participating in key cannabis investor conferences, broadening our media exposure, and continuing a transparent line of communication with our shareholders.
Like 2021, it continues to be an exciting time to be part of MCOA as we enter the middle of 2022 with a stronger balance sheet to accelerate our operations and continue to build shareholder value. Please be sure to visit our website at www.marijuanacompanyofamerica.com for more information.
We would like to thank our shareholders for your loyalty and ongoing support. We wish you all the very best for the remainder of 2022 and beyond.
Very truly yours,
Jesus M Quintero
Chairman of the Board and CEO
SOURCE: Marijuana Company of America, Inc.
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