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mCig, Inc. (OTCMKTS:MCIG) Hesitates Amidst Medical Marijuana Hype

[[tagnumber 0]][[tagnumber 1]]mCig, Inc. (OTCMKTS:MCIG) has been sliding down the charts since the beginning of the month after it spiked in the end of September. By mid-October the ticker had lost quite a lot of value and had reached a 52 week low of $0.20 per share.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since then, however, the hype surrounding the medical marijuana industry has also had an impact on [[tagnumber 6]]MCIG[[tagnumber 7]], as the ticker recorded 3 sessions in the green that were accompanies by increased investor attention.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, compared to other players in the MJ industry [[tagnumber 6]]MCIG [[tagnumber 7]]doesn’t have that strong balance sheet. Here is what the company recorded in the second quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $225 thousand[[tagnumber 19]] [[tagnumber 18]]current assets: $2.16 million[[tagnumber 19]] [[tagnumber 18]]total assets: $2.8 million[[tagnumber 19]] [[tagnumber 18]]current liabilities: $7 thousand[[tagnumber 19]] [[tagnumber 18]]quarterly revenues: $195 thousand[[tagnumber 19]] [[tagnumber 18]]quarterly net loss: $1 million[[tagnumber 19]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And although the company doesn’t have that much of an impressive cash position to boast a $71 million market cap we can’t go by without saying that it is a rare example of an OTC company with virtually non-existent liabilities. It is good to note that the share structure has also been kept tight with the help of [[tagnumber 6]]MCIG’s[[tagnumber 7]] CEO, who retired the same amount of his own shares that had to be issued to other parties.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On Tuesday MCIG announced a strategic distribution agreement with [[tagnumber 6]]Omnicam [[tagnumber 7]]and their Korean partners from [[tagnumber 6]]Kooleever, Inc.[[tagnumber 7]] and it was felt in the charts. Despite the small percentile movement of 5.22% we saw increased attention as more than 4.52 million shares changed their owners and generated $1.1 million in dollar volume, while [[tagnumber 6]]MCIG [[tagnumber 7]]went on to a close at $0.242.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The hype quickly disappeared though, and yesterday’s session was quiet, while [[tagnumber 6]]MCIG[[tagnumber 7]] lost 0.83% of its value. Today’s session started off rather well without the help of any news and by the writing of this article [[tagnumber 6]]MCIG [[tagnumber 7]]is 5.42% up the charts.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In any case, it is always a good thing to do your due diligence and weigh out the risks before making an investment decision.[[tagnumber 2]]

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