Marijuana Company of America, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 16, 2020 at 05:33 pm EST
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Marijuana Company of America, Inc. announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 53,195 compared to USD 229,371 a year ago. Operating loss was USD 591,212 compared to USD 624,623 a year ago. Net loss was USD 1.872 million compared to USD 6.226 million a year ago. Basic eps - continuing operations was USD 0 compared to basic loss per share from continuing operations of USD 0.13 a year ago. For the nine months, total revenue was USD 217,972 compared to USD 552,761 a year ago. Operating loss was USD 1.858 million compared to USD 2.838 million a year ago. Net loss was USD 4.177 million compared to USD 10.878 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.26 a year ago.
Marijuana Company of America, Inc. is an owner and operator of licensed cannabis cultivation, processing, and dispensary facilities. The Company is a developer, producer, and distributor of branded cannabis and cannabidiol (CBD) products in the United States. Through its wholly owned subsidiary cDistro, Inc., it offers CBD brands along with smoke and vape shop-related products to wholesalers, c-stores, specialty retailers, and consumers in North America. Through its wholly owned subsidiary HSmart, Inc., it develops and sells CBD products under the brand name hempSMART. Its hempSMART wellness products offerings include hempSMART Brain, hempSMART Pain, hempSMART Pain Cream, hempSMART Drops, hempSMART Pet Drops, hempSMART Face, and hempSMART Drink Mix. hempSMART Brain is a personal care consumer product encapsulated with enriched non-psychoactive industrial hemp derived CBD. hempSMART Pain Cream each container is formulated with 300mg of non-psychoactive CBD.
MARIJUANA COMPANY OF AMERICA, INC. 
