MCIG, INC. (OTCMKTS:MCIG) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01 Entry Into a Material Definitive Agreement
OnFebruary 10, 2017, the Company entered into a Cancellation
Agreement with Paul Rosenberg, the Companys Chairman and CEO,
whereby the Company will cancel 2,000,000 shares of Series A
Preferred Stock in exchange for $200. The Company has elected to
retire these shares. The retirement reduces the fully diluted
underlying shares of common stock by 4.1%.
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ITEM 9.01 Financial Statements and |
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Exhibit No. |
Description |
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10.1 |
Stock CancellationAgreement |
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About MCIG, INC. (OTCMKTS:MCIG)
mCig, Inc. is engaged in manufacturing, marketing and distributing electronic cigarettes, vaporizers and accessories under the mCig brand name. The Company offers electronic cigarettes and related products through its online store, mcig.org, as well as through its wholesale, distributor and retail programs. Its segments include Construction, Internet Sales and Wholesale. The Construction segment develops, designs, engineers, and constructs modular buildings with elements that assist cannabis growers in the market. Each modular building is designed for each customer. The Company tracks various retail sales, through the Internet segment through the consolidation of all online retail sales from various Websites. It provides streamlining of administrative and documentation services, consolidation of inventories and supports economy of scale. The wholesale segment works with distribution channels in electronic vaporizing cigarettes (eCig) and marijuana cigarettes (Rllies), among others. MCIG, INC. (OTCMKTS:MCIG) Recent Trading Information
MCIG, INC. (OTCMKTS:MCIG) closed its last trading session 00.000 at 0.393 with 10,647,714 shares trading hands.