Marijuana Company of America, Inc. (OTCPK:MCOA) released financial results for the first quarter ended March 31, 2022, revealing revenue of $561,321 compared to $34,930 in Q1 2021.
Q1 2022 Financial Highlights:
Revenue increase of $526,391 or 1,507% is primarily attributed to the company's new acquisition cDistro which distributes CBD and hemp products throughout the USA.
For the three months ended March 31, 2022, and 2021, MCOA's gross profit was $51,059 and $9,750, respectively.
The company's total assets increased to $8.1 million as of the first quarter ended March 31, 2022.
The company's net loss for the Q1 ended March 31, 2022, decreased to $3,29 million from $3.66 million for …