ESCONDIDO, Calif., Nov. 19, 2019 /PRNewswire/ -- Marijuana Company of America Inc. ("MCOA" or the "Company") (MCOA), an innovative hemp and cannabis corporation, is pleased to announce that its hempSMARTtm brand products have been nominated by the Los Angeles Business Journal for its 2019 Fashion & Beauty Awards.
"We are thrilled to be recognized and nominated by the Los Angeles Business Journal for our hempSMARTtm brand of products," said Mr. Donald Steinberg, Chief Executive Officer of Marijuana Company of America. "We have always been committed to producing the highest quality products for the personal health and wellness of our customers, and our beauty line has progressed quite rapidly given the surge in demand. Our revenue has increased almost 840% from year-end 2017 to year-end 2018, which we can attribute to our expanding, high-quality product portfolio line and our international expansion into the U.K., Netherlands, and Scotland. The L.A. Business Journal's Fashion & Beauty forum is another incredible opportunity for us to showcase our products."
hempSMARTtm is the Company's proprietary brand that delivers premium-quality, lab tested, and CBD verified products to consumers everywhere. hempSMARTtm sets the new gold standard in the global CBD industry and includes the following products:
"The Fashion & Beauty Awards will recognize the top apparel and beauty companies that drive tremendous economic growth in our region and make Southern California a major force in the business of fashion and beauty," said Anna Magzanyan, Publisher & CEO, Los Angeles Business Journal.
The Fashion & Beauty Awards take place on December 12, 2019, from 6:00pm-8:30pm, at the LA Grand Hotel, 333 S. Figueroa Street, Los Angeles, CA 90071.
About Marijuana Company of America, Inc.
Marijuana Company of America is a corporation which participates in: (1) product research and development of legal hemp-based consumer products under the brand name "hempSMARTtm" that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based and cannabis consumer products; (3) the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; VivaBudstm is the newest subsidiary, delivering quality cannabis products across Southern California; (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop in the U.S. and abroad.
Legal Status of Cannabis
While legalized in California for recreational and medicinal use, cannabis remains a Schedule 1 drug under the Controlled Substances Act (21 U.S.C. § 811) and illegal under the federal law.
Forward Looking Statements
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-12G, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE Marijuana Company of America