LOS ANGELES, CA May, 2022

Marijuana Company of America, Inc. (MCOA) operates, invests, and acquires companies exclusively in the cannabis sector, today announced the financial results for the first quarter ended March 31, 2022.

Here are some of the notable highlights for the QTR 1 2022:

The Company generated revenues of $561,321 and $34,930 for the three months ended March 31, 2022, and 2021, respectively. The increase of $526,391 or 1,507% is primarily attributed to the Company’s new acquisition cDistro which distributes CBD and hemp products throughout the USA.

Ongoing efforts continued to expand into South America and move key parts of the supply chain to Brazil and Uruguay to improve gross margins and overall profitability.

For the three months ended March 31, 2022, and 2021, MCOA’s gross profit was $51,059 and $9,750, respectively.

MCOA continues the process of working with VBF Brands Inc. to close the Asset Purchase Agreement. VBF Brands, Inc. is a multi-licensed cannabis cultivation and distribution operation in Salinas, California. The facility provides superior efficiency and sustainable cultivation techniques that allow growers to access locally grown, high-quality clones to grow cannabis crops faster, ensuring greater yields.

The Company’s total assets increased to $8,105,699 as of the first quarter ended March 31, 2022.

The Company’s Net Loss for the 1^stQuarter ended March 31, 2022, decreased to $3,290,292 from $3,657,990 for the same period ended March 31, 2021.

The Company was able to lower cash used in operating activities to $678,108 for the quarter ended March 31, 2022, compared to $962,359 used for the first quarter of 2021.

MCOA’s Chief Executive Officer, Jesus Quintero, said, “This first quarter demonstrates that we are off to an exciting start of 2022. This represents our second consecutive quarter with record revenue growth. Our growth is expected to continue to accelerate into the next quarter as we continue to grow our business. We also remain active in strategic acquisitions that fall into diversified cannabis categories and continue to pursue deals to build scale in our 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.”

For the three months ended March 31, 2022, and 2021, gross profit was $51,059 and $9,750, respectively. This increase of $41,309 was primarily attributed to MCOA’s hempSMART product rebranding and the Company’s new acquisition cDistro which sells CBD and hemp products throughout the USA. Quintero added, “We continue to report positive results reflective of the business initiatives undertaken over the past year and we are excited to continue to expand our global market share.”

For the three months ended March 31, 2022, and 2021, MCOA had net losses from continuing operations of $(835,794) and $(782,917), respectively, an increase of $52,877. This increase is due primarily to the effects of the restructuring of our sales team and strategies for 2022.

Tag: respectively. The increase of $526

Marijuana Company of America, Inc. Reports Record First Quarter Revenue and Substantial Quarter-over-Quarter Revenue Growth for 2022

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For More Information on Cannabis and CBD and YOU. Click On the Following Link

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USE PROMO CODE ” QPRBBV78NY ” (COPY & PASTE) @ E-COMMERCE WEBSITE & SAVE 15% OFF ALL ORDERS –

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