Marijuana Company of America (MCOA) announced a strategic partnership with GLO-Collective IQ, enhancing its marketing capabilities. GLO-CIQ, based in Dallas, brings over 25 years of experience in network marketing and direct-to-consumer strategies. CEO Jesus Quintero mentioned plans to launch new initiatives in the next 90 days, including holiday flavors and a revamped website to boost product sales. This collaboration aims to strengthen MCOA's position in the hemp market ahead of the holiday season.
Marijuana Company of America (MCOA) has engaged Investor Awareness, Inc. to enhance its investor relations and raise awareness of recent business activities. The partnership aims to professionally connect MCOA with the investment community, leveraging Investor Awareness's expertise in supporting small to mid-cap companies. CEO Jesus M. Quintero stated that this collaboration is vital for reaching relevant investors and navigating the growing cannabis market. MCOA focuses on hemp-based products and affiliate marketing, aiming to expand in the evolving cannabis sector.
Marijuana Company of America (MCOA) reported its Q2 2020 financial results, revealing total revenues of $82,958, a 60.3% drop from $208,580 in Q2 2019. The gross profit declined to $43,771 with 52.8% gross margin, down from 86.0%. Notably, the company reduced operating expenses by 60.9% to $919,006, improving its operating loss by 48.5%. Net loss for the quarter was $186,819, down from $419,624.