Why MCIG Could Go To $1.00 In 2018
MCig, Inc. (OTCQB: MCIG) is an international MMJ-related corporation headquartered in Jacksonville, Florida and currently operating in 18 countries under multiple trademarks. Both diversified and vertically integrated, the company intends to lead the rapidly growing MMJ industry in technology, product, and service distribution. It services not only the legal cannabis industry, but, also the hemp and CBD markets.
MCIG services include solutions for MMJ plant growers (e.g., equipment, construction, consultation, maintenance); research, development and manufacturing of biotech products, as well as technologies; consultation for technology products; vitamins and essential oil equipment, products and supplies; vaporizers; dispensary supplies; and distribution.
Though it began as a vaporizer manufacturer, mCig has transitioned to an industry-leading construction company through its Grow Contractors division, which is focused on full service, large-scale MMJ plant cultivation. This division currently operates out of Nevada, capitalizing on the rapidly expanding market.
The company has a growing number of multi-acre site construction projects underway. One is a 24,000 sq foot greenhouse north of Las Vegas, with 10,000 sq feet of production capacity. Another project, Sin City, is a 4,800 sq foot cultivation facility, currently 45% complete. Solaris will be a 300,000 sq foot cultivation greenhouse in the high desert, boasting the most efficient and advanced technology for MMJ plant agriculture. More recently, an Oregon project is underway to construct an indoor greenhouse spanning 115,000 sq feet.
At the end of February, mCig announced its subsidiary, NYAcres, Inc., had secured a license in the state of New York to produce industrial hemp. This license will benefit the company’s state project, The NYAcres Project, a joint venture with the FarmOn! Foundation. Prior to receiving the license, the joint venture focused on infrastructure expansion on the 220-acre farm with three greenhouses in upstate New York (where the NYAcres Project will be housed).
NYAcres will initially farm 40 acres, with the expectation of 800 plants per acre for its first harvest. The second harvest, planted in the same season, will span 80 acres with an expected yield of 800 to 1,000 plants per acre. In the first operating year, this translates into revenue of roughly $90,000 per acre, upwards of $10 million total projected revenue. MCig will receive 80% of the proceeds and 20% will be distributed to the FarmOn! Foundation. Following the first harvest, a reinvestment of the farm infrastructure and expansion of production acreage may allow the project to eventually generate annual revenue of $20 million.
MCIG has a unique opportunity, through strategic partnerships, to invest ahead in the industrial hemp industry, which is projected to grow 700% by 2020.