Eco Innovation Group Inc Stock Price, News & Analysis

Marijuana Company of America (MCOA) reported second-quarter financial results for 2021, showcasing total revenues of $16,880, down from $82,958 in 2020. This significant decrease of $66,078 is attributed to new eCommerce sales and reduced market demand due to the COVID-19 pandemic. The company also experienced a net loss of $1,828,117, a 10,830% increase from the previous year's loss. Despite these challenges, MCOA anticipates growth from its recent acquisition of cDistro and partnerships with Cannabis Global Inc. (CBGL) and Eco Innovation Group (ECOX) to enhance THC product manufacturing.

Eco Innovation Group (OTC: ECOX) has signed a term sheet to establish a Canadian construction company, acquiring assets from Spruce Construction. Under this agreement, ECOX will hold 85% of the new venture, Spruce Engineering and Construction, Inc. The acquisition includes vehicles and construction equipment and aims to boost revenue from deploying sustainable energy technologies in Canada. The transaction involves the issuance of one million shares in exchange for assets and will assume approximately CAN$60,000 in debt. The closing is anticipated by August 15, 2021.

Eco Innovation Group, Inc. (OTC: ECOX) has gained significant recognition through coverage in Chemical Engineering magazine for its innovative glycerin-based supercritical extraction technology. This technology sets itself apart in the market by effectively extracting natural bioactive compounds from plants, notably Cannabis sativa. The exclusive intellectual property for this technology is licensed to ECOX, with prototype development currently in progress at Fluitron Inc. Julia Otey-Raudes, CEO, expressed enthusiasm for the media attention and the contributions of advisory board member Demitri Hopkins.

Eco Innovation Group, Inc. (OTC:ECOX) has successfully eliminated two convertible promissory notes, mitigating potential dilution of 11,934,782 shares that could have occurred due to a previous debt conversion valued at $131,077. By preemptively paying off these notes, ECOX has taken steps to enhance shareholder value and reduce financial uncertainty. Approximately $70,000 in variable-rate convertible debt remains on its books. The company's leadership emphasizes a commitment to protecting shareholder interests as they pursue new green technology projects.

Eco Innovation Group, Inc. (OTC: ECOX) has signed an exclusive License Agreement with Lance Nist for the innovative PoolCooled™ Tech, which efficiently cools buildings by utilizing water from adjacent swimming pools. This technology shows a remarkable reduction in energy consumption, achieving approximately 65-75% savings compared to traditional systems. With over 10.7 million swimming pools in the U.S., the market potential is significant. ECOX aims to launch this renewable energy solution worldwide, enhancing energy efficiency in residential and commercial settings.

Eco Innovation Group, Inc. (ECOX) has announced a Definitive Agreement with Fluitron, Inc. to produce a prototype utilizing a novel non-CO₂ extraction technology. This patented method is expected to enhance efficiency by yielding superior viscosity fluids and reducing costs compared to traditional CO₂ methods. ECOX anticipates consistent and larger yields, positioning itself for significant opportunities in high-value markets such as cannabis, pharmaceuticals, and cosmetics. CEO Julia Otey-Raudes emphasized the technology's potential to revolutionize extraction processes.

Eco Innovation Group, Inc. (OTC: ECOX) has announced the establishment of its first subsidiary, ECOIG Canada, aimed at enhancing its footprint in the Canadian green technology market. Patrick Laurie has been appointed as the interim CEO of ECOIG Canada. The subsidiary will focus on various objectives, including manufacturing, R&D in sustainable technologies, and accessing local incentives. The company seeks to leverage existing relationships in Canada to promote green innovations while contributing to job creation and economic diversification in Alberta.

Eco Innovation Group, Inc. (ECOX) has signed a Letter of Intent with Fluitron, Inc. to develop a prototype using Glytech's non-CO2 supercritical extraction technology. This innovative method aims to enhance the extraction of bioactive compounds from plant material, particularly for cannabis and pharmaceutical applications. Once the prototype is completed, ECOX will move towards commercial development. Julia Otey-Raudes, CEO, emphasizes the revolutionary potential of this technology in the extraction sector, which could significantly lower costs and improve efficiency.