mCig Updates Shareholders on Status of 10K Filing
BEVERLY HILLS, CA–(Marketwired – Aug 27, 2015) – mCig, Inc. ( OTCQB : MCIG ), a leading distributor of innovative products, technologies and services for the global medical and legal recreational cannabis industry, announces that as a result of a change in auditors, the annual report on Form 10-K was delayed. mCig expects to file its Form 10-K shortly with an audit report from its new independent registered public accounting firm SADLER, GIBB & ASSOCIATES, LLC.
While we appreciate shareholders’ patience with regards to MCIG soon to be released filing, we felt it necessary to provide an update in the matter. New accounting was only one of many initiatives implemented by mCig to improve compliance and visibility. These measures had to be put in place as new product lines and increasing revenue streams will have an impact in how we report moving forward. The implementation of new fulfillment and distribution revenue verticals coupled with our new accounting software will make future reporting more accurate and timely.
We thank you for your time and continued support.
Paul Rosenberg CEO mCig, Inc.
About mCig, Inc. mCig, Inc. ( OTCQB : MCIG ) is committed to being the leading distributor of technology, products, and services for the global medical and legal recreational cannabis industry. The Company’s Master Distributor sales approach allows mCig to partner with or acquire best-of-breed companies to serve as exclusive sales representatives, distributing their products through mCig’s multiple channels and sub-distributors throughout the United States, Asia, Europe, and the United Kingdom. With a direct focus on growers and dispensaries, mCig provides a complete line of technology, products and services, including turnkey growing environments; security services; software and information technology; consulting services; financing and more. The mCig E-Cigarette and Portable Vaporizer Division provides a full range of smoking products for retailers and distributors, from disposable smoking devices to high-end heirloom pieces. The company is headquartered in Beverly Hills, California. Follow mCig, Inc. on Twitter at @mCigs.
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.