Earlier this week, I was approached by Paul Rosenberg, CEO of mCig, which recently reverse merged with Lifetech Industries. He was impressed with my interview of Sterling Scott CEO of GrowLife (PHOT), and wanted to tell me his story. This is a huge benefit to being the "Cannabis Financial Analyst" at 420Investor.com!
His company is about to launch a $10 vaporizer that could become a category killer. The current symbol is LTCHD, but it will change to MCIG on 9/24. Having exchanged some emails with Rosenberg, reviewed the corporate website and the company's press releases and having read the three SEC filings, I am impressed with many aspects of the story. With Washington and Colorado getting close to implementing legal marijuana for recreational purposes, this stock could get a lot of attention. With that said, I think that the current price is too high and expect it to fall. I am sharing some initial thoughts today and plan to follow up with a more comprehensive interview with Rosenberg.
mCig is based in Bellvue, Washington. CEO Rosenberg's description from its filings:
Mr. Rosenberg is a serial entrepreneur and private investor focused on the technology space with experience in procurement, outsourcing, research, and manufacturing. Previous to Lifetech, Mr. Rosenberg focused on seed-stage venture capital for private and public companies.
He has shared some more of his background with me, and I am satisfied that he is qualified to pursue his venture. I will share some of those details in the future to justify my view.
According to the company, Rosenberg approached Lifetech Industries earlier this year and was going to license its technology for use in his mCig. Rosenberg ended up buying out Benjamin Chung, who hadn't really done much over two years.