Marijuana Company Of America Inc (OTCMKTS:MCOA) has announced the launching of the hempSMART website for their associates as well as an upgrade on their securities trading to OTCQB. The move is viewed as a significant step in the process of distinguishing MCOA from other publicly listed cannabis companies. The hempSMART platform allows customers to make monthly subscriptions to their products which creates a pathway for generating a monthly stream of revenue while at the same time minimizing follow-ups.
What the upgrade means
Upgrading their securities trading level is aimed at ensuring that MCOA can provide precise and clear audited information about their operations to investors. Similarly, the change makes it easy for investors to access the summaries of MCOA business strategy, and also it grants them access to quarterly financial statements of the company. The hempSMART platform aims at improving their incentives plan so that it can appeal to associates thus attract more clients. MCOA expects their sales to increase as a result of the changes as well as the influx of new associates which is likely to rise.
Changes part of the expansion plan
According to the MCOA CEO, Donald Steinberg, the new website is part of their global expansion plans where they are focusing on having a platform that can facilitate the massive number of associates in different languages and currencies. He adds that the platform will provide the associates with current marketing software that allows them to exploit the social media space.
Equally the upgrade of the securities level into OTCQB is a way of boosting investor confidence since it removes the limitations placed on pink-sheet firms. The moves aim at giving MCOA better admission to the massive investor base and increase their liquidity in the market. The upgrading of the trading level is also part of necessary conditions that the company must meet in the S1 registration statement before the end of the year as they focus on high growth in 2019.
The CEO indicates that the company will continue to pursue their aggressive business strategy as well as focus on expansion and international launching of their hempSMART website in 2019.