Marijuana Company of America Subsidiary Receives Patent Pending Status for Its Proprietary CBD Product
BONSALL, CA -- (Marketwired) -- 07/19/16 -- MARIJUANA COMPANY OF AMERICA ("MCOA" or the "Company") (OTC PINK: MCOA), an innovative cannabis and hemp marketing and distribution company, is pleased to announce that its wholly owned subsidiary, H Smart, Inc., has received patent pending status, from the U.S. Patent and Trademark Office for its proprietary Cannabidiol (CBD) formulation that promotes and supports brain health.
The MCOA team has been working diligently with formulators to develop a unique and proprietary formulation of CBD and supporting ingredients that promote neurogenesis. The Company is in the process of manufacturing, branding, labeling, and website development to prepare for product launch.
"We are very excited to launch our first proprietary CBD product. A lot of time and energy went into the development of this unique product and we are very close to launch and making it available to our members," said Mr. Steinberg, MCOA President and CEO.
The Harmoneous pilot program has expanded to Los Angeles County and Green Dot Collective. This phase of the pilot is expected to be complete during the current quarter (Q3-2016). The current legislation in California has presented challenges that require an extension of the pilot program.
MCOA and Kush Clinic have mutually agreed to terminate the managed services contract entered into on January 1st, 2016 as a result of the above mentioned challenges encountered during implementation. All managed services fees to Kush Clinic have been waived. Both parties are on amicable terms and have agreed to the possibility of working together in the future.
On behalf of the Board of Directors,
President & CEO
About Marijuana Company of America Inc.
Marijuana Company of America ("MCOA") is a publicly traded company headquartered in Southern California. MCOA will distribute marijuana and products related to marijuana as well as hemp, using a variety of marketing approaches to distribute on a global basis.
About Club Harmoneous
Club Harmoneous (The Club) delivers all of the benefits of cannabis to its members harmoneously. The Club provides a wide range of cannabis products to its members, medicinal, adult use or healthy foods, body care and cosmetics. The Club products are top quality and offered to members at competitive prices with the convenience of home delivery. The Club offers Marketing Services designed to increase membership. This is done through an affiliate referral program where members refer new member patients and earn discounts and income from their referrals.
For more information go to: http://www.Harmoneous.com.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Marijuana Company of America, Inc. to be materially different from the statements made herein.
Marijuana Company of America Inc. will provide management services that assist legal businesses to cultivate, sell, and distribute hemp and marijuana based products within the legal guidelines of individual states and international markets.
President & CEO
Source: Marijuana Company of America, Inc.
Released July 19, 2016