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Eco Innovation Group Inc is a socially responsible and sustainability-focused technology incubator devoted to the commercialization of select intellectual property that has the potential to achieve commercial success.

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ECO INNOVATION GRP INC by Eco Innovation Group, Inc.

Eco Innovation Group Inc

Eco Innovation Gr

Photo by Michael Fischer on <a href="https://www.pexels.com/photo/shallow-focus-photography-of-cannabis-plant-606506/">Pexels</a>

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Just as Cinderella&rsquo;s Fairy Godmother helped the princess in her hour of need, Marijuana Company of America Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MCOA#OTC">MCOA</a>) is lifting small cannabis companies as they strive to compete in a rapidly consolidating industry where competition is fierce.&nbsp;

The Los Angeles, California-based company operates, invests in and acquires cannabis businesses. Its diversified portfolio includes:

<ul>
	<li>33% ownership in Cannabis Global Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBGL#OTC">CBGL</a>), which focuses on the science of cannabis</li>
	<li>5% ownership of Natural Plant Extracts, a wholly owned subsidiary of Cannabis Global that operates a cannabis manufacturing and distribution business in California</li>
	<li>34% ownership in Eco Innovation Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ECOX#OTC">ECOX</a>), which aggregates investments in new technologies that promote environmental and social well being and the advancement of green energy solutions</li>
</ul>

Marijuana Company of America (MCOA) acts as an incubator for these smaller companies that are trying to compete against more-established businesses. Its mission is to leverage its experience and access to capital to identify and invest in companies with growth potential in the cannabis market.&nbsp;

<h2>Fairy Tales Can Come True</h2>

Marijuana Company of America is looking to grow through acquisitions. In October, the company acquired VBF Brands Inc., a <a href="https://www.benzinga.com/money/marijuana-stocks/">marijuana</a> cultivator and distributor based in Salinas, California. The acquisition includes VBF&rsquo;s cannabis nursery as well as its cannabis manufacturing/distribution and cultivation licenses in California, which is the nation&rsquo;s largest legal cannabis market.&nbsp;

&ldquo;The acquisition of VBF Brands Inc. perfectly encapsulates MCOA&rsquo;s strategy to expand our business by organic growth and acquisitions of synergistic and often undercapitalized distressed assets existing today in the cannabis industry,&rdquo; Marijuana Company of America CEO Jesus Quintero said at the time of the acquisition. &ldquo;We are confident that providing this entity with capital and operational depth to the already impressive operations will increase the capacity and greatly bolster our position in the California cannabis market.&rdquo;

In November, the company reported its<a href="https://www.benzinga.com/markets/cannabis/22/01/25105548/marijuana-company-of-america-reports-highest-quarterly-revenue-since-inception-what-you-should-k"> highest quarterly revenue</a> since its inception in 1985, with a total of $442,178 &mdash; an increase of $388,983 from the $53,195 it reported during the third quarter or 2020.

Changes in federal law have benefited Marijuana Company of America and the businesses in its portfolio. The Agriculture Improvement Act of 2018, commonly known as the Farm Bill, legalized hemp products with tetrahydrocannabinol (THC) levels below 0.3%.

That paved the way for hempSMART, MCOA&rsquo;s wholly owned subsidiary, to make products from broad-spectrum hemp extracts in therapeutic amounts. MCOA and hempSMART recognize that the U.S. CBD market is saturated, so they are targeting South America.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

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