mCig Inc (OTCMKTS:MCIG) a major distributor of technology, services and goods in the Cannabis segment released VitaCig E-Cig segment update. The management stated that they are delighted to give their prospective and current shareholders an update pertaining to separation between VitaCig and mCig.

Last month they reported that the company had come to a consensus to take control of VitaCig and launch its current firm into a subsidiary unit of mCig. As part of this deal, the company keeps 57.50 million shares of VTCQ, a convertible note worth $95,000, and confirmed that from hereon will no longer bear the financial liability linked with VTCQ.

The highlights

From an asset standpoint, mCig kept all of its Asian/European distribution deals that are revenue generating. These deals have assured order necessities that have a possible 3-year projected value of $3.9 million. It is also vital to record that the company will retain the branding and name linked with the VitaCig brands.

Paul Rosenberg, the CEO of mCig, said that they are exceptionally delighted to have been able to close this deal. The company keeps all of the R7D linked with this brand and a revenue generating portfolio for one of the growing e-cig and CBD markets across the world. They couldn’t be happier. The company continues to maintain contact with management of VTCQ, where they project big things coming in the near future.

The management speaks

The CEO further added that VitaCig has been closely associated to mCig. Since re-launch in 2016, they have seen notable brand expansion and considerable revenue growth. The team continues to put efforts in the Asian/European markets, and expanding into South Africa, Canada and India. This segment and everything that has moved from early phases of development to this time will account as one of company’s most profitable segments. The focus will be on enhancing the revenue and at the same time reducing overall business costs significantly.

Progressive Care Inc (OTCMKTS:RXMD) Sentiments Bolstered By Wave Of Positive News

Progressive Care Inc (OTCMKTS:RXMD) is holding steady in the market after a wave of positive news in the recent past helped bolster its sentiments among investors. The wave of positive news began with the company posting a record 53% increase in revenue for the month of June that came in at $1.7 million.

The company has already reiterated that it is on course to meet its sales forecast for the year as it continues to expand its operations in other states. Permits for operation in New Jersey and Pennsylvania should go a long way in expanding Progressive care target market, as it continues to pursue licenses in other states.

A $2 million financing from Chicago Ventures partners is also expected to help support the company’s projects all intended to accelerate growth. The company has already announced that it is expanding its warehouse space having already received the first $250,000 tranche from the agreement.

The South Florida health services organization has also cleared all requirements concerning building permits in the county of Miami-Dade where it is hoping to expand its business empire.

Previous articleMedCAREERS Group Inc (OTCMKTS:MCGI) Submits Form 10-Q
Next articleCobalt International Energy, Inc. (NYSE:CIE) Provides Operational Update
Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg,,, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.