mCig, Inc. Shatters 24 Hour Sales Record - Prominently Featured on National Business News Network CNBC
08 April 2014 - 1:45PM
-Company Achieves $28,400 in Sales Over a 24 Hour
Period, an Increase of 700% Over Previous Record
-Company Products mCig and VitaCig Were Highlighted
On-Air With a Live VitaCig Demonstration by CNBC Business Reporter
Jane Wells
mCig, Inc. (OTCQB:MCIG) is pleased to report that the company has
significantly broken its previous sales record over a 24 hour
period of $3,541.12 achieved on January 29, 2014.
For the 24 hour period ended April 7, 2014, the company achieved
sales of $28,400 marking an increase of 700% over the previous
record. These sales figures relate only to products sold on
mCig.org and exclude any sales achieved by Vapolution or
VitaCig.
"These are extraordinary figures when considering our average
sales per inventory day last quarter was roughly $3,300. Clearly, a
combination of our efforts are beginning to come together in a
manner that is allowing continued viral momentum, brand
recognition, and growth in our products. We continue to work
tirelessly towards our goal of mass adoption of our products.
Meanwhile, we remain laser-focused on future innovation and M&A
opportunities." Said Paul Rosenberg, CEO of mCig, Inc.
mCig Management and Products Featured on National
Business News Network CNBC
A contributing factor which led to the new sales record occurred
on April 7, 2014. At around 3:00 PM EST, the company and its
products were prominently featured in a live segment on the leading
nationally syndicated business network CNBC. In the segment,
business news reporter Jane Wells discussed the emerging cannabis
industry in the United States that are embarking on the
legalization or decriminalization process. Wells highlighted mCig,
Inc. as a company that was operating within the industry, but
indirectly by selling a consumer product: The $10 mCig which allows
for the heating of loose-leaf herbs and waxes.
The segment showed mCig, Inc. COO Mark Linkhorst giving a
demonstration of the mCig with a variety of plant material and
discussing the technical aspects of the device. Vapolution, Inc.
(mCig subsidiary) CEO Patrick Lucey demonstrated the Vapolution 2.0
and discussed the politics of cannabis legalization. Towards the
end of the segment, Wells unveiled the VitaCig, a $2 nicotine-free
electronic cigarette that emits a water-based vapor comprised of
vitamins, natural supplements, and organic flavors and proceeded to
puff on the VitaCig on live television.
To watch an online replay of the segment please visit this page:
http://www.cnbc.com/id/101560701
"Yesterday was a momentous day for mCig, Inc. We achieved
national media attention only 67 days after launching our primary
consumer product: mCig 2.0. We are honored that this coverage came
from the widely respected business news network CNBC and was
syndicated on other NBC Universal media properties," said Mark
Linkhorst, COO of mCig, Inc.
To view the Company's most recent investor presentation please
visit: http://www.mcig.org/investors/presentations/
About mCig, Inc. mCig, Inc. (OTCQB:MCIG) is a technology company
focused on two long-term secular trends sweeping the globe: (1) The
decriminalization and legalization of marijuana for medicinal or
recreational purposes (2) The adoption of electronic vaporizing
cigarettes (commonly known as "eCigs") by the world's 1.2 Billion
smokers. The company manufactures and retails the mCig – the
world's most affordable vaporizer priced at only $10. Designed in
the USA – the mCig provides a superior smoking experience by
heating plant material, waxes, and oils delivering a smoother
inhalation experience. The company also owns Vapolution, Inc.
which manufactures and retails home-use vaporizers such as the
Vapolution 2.0. Through its wholly owned subsidiary, VitaCig, Inc.
the company is preparing to launch the VitaCig, a $2 nicotine-free
eCig that delivers a water-vapor mixed with vitamins and organic
flavors. Through its wholly owned subsidiary, LiqCig, Inc. the
company is engaged in the development of the world's first
pre-packaged alcohol friendly eCig. See more at:
http://www.mCig.org/, www.Vapolution.com, www.VitaCig.org.
The Company believes that a well regulated marijuana industry is
emerging as more states follow the lead of Washington and Colorado
in legalizing marijuana. A similar trend is developing within the
eCig industry following the first acquisition of an electronic
cigarette brand (Blucigs) by a traditional tobacco company
Lorillard Inc. for $135 million followed by another
acquisition in February 2014 by Altria Group Inc. of Green
Smoke for $150 million. Wells Fargo analyst Bonnie Herzog estimates
that eCig sales may rise from $1 Billion in 2013 to $10 billion
over the next three years. mCig, Inc. (OTCQB:MCIG) has positioned
itself as a first mover at the intersection of these two trends and
hopes to create shareholder value by making the mCig one of the
leading choices for electronic consumption of plant material. - See
more at:
http://www.mcig.org/investors/investor-opportunity-subpage/ Safe
Harbor Statement Any statements contained in this press release
that do not describe historical facts may constitute
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Any forward-looking
statements contained herein are based on current expectations, but
are subject to a number of risks and uncertainties. The factors
that could cause actual future results to differ materially from
current expectations include, but are not limited to, risks and
uncertainties relating to the Company's ability to develop, market
and sell products based on its technology; the expected benefits
and efficacy of the Company's products and technology; the
availability of substantial additional funding for the Company to
continue its operations and to conduct research and development,
and future product commercialization; and the Company's business,
research, product development, regulatory approval, marketing and
distribution plans and strategies.
CONTACT: Paul Rosenberg
CEO
(425)462-4219