BEVERLY HILLS, Calif., Jan. 8, 2015 (GLOBE NEWSWIRE) -- mCig® Inc. (OTCBB:MCIG), a technology company that owns, manufactures, and distributes the mCig®, VitaCig®, and Vapolution products, is pleased to announce the appointment of Richard Krueger as Executive Vice President (EVP) of its new software division, with a focus on developing software for the burgeoning legal medical and recreational marijuana marketplace.
The company's technology will help growers and dispensaries become more informed about their growing operations, inventory management, and legal compliances. It will also provide insight into sales, customer buying habits, and other dispensary operations.
A dynamic software executive, Krueger has an excellent track record in overseeing product development, marketing, strategic partnerships, and sales efforts on behalf of leading technology companies. Most recently, Richard served as Senior Director of Technology Alliances at MicroStrategy, Inc. a developer of business intelligence (BI) software. Previously, Richard served as co-founder and Chief Marketing Officer of Samepoint.com, a social media search engine. Richard was instrumental in shaping the company's partner ecosystem and data aggregation services.
Richard is also an author and social media authority, having written Facebook Marketing for Dummies (Editions I, II, and II) and Facebook Advertising for Dummies, published by John Wiley & Sons, Inc. Richard is a regular speaker on big data, Cloud computing, business analytics, social and mobile marketing at major industry conferences.
"Richard has a stellar track record in leading marketing, branding, public/investor relations, product management, and partner marketing activities on behalf of leading b-to-b and b-to-c companies. He is the right person to lead us into this exciting new business opportunity and is to date the most impressive addition to the mCig/VitaCig management team," explained Paul Rosenberg, CEO of mCig, Inc.
"We've been really impressed with Richard's industry knowledge, product roadmap, and overall vision," explained Paul Rosenberg, CEO of mCig, Inc. "Analytics has transformed everything from Major League Baseball to manufacturing to retail operations. With our expansion into software technology, we will be able to bring many of these same disciplines to the MMJ and personal vaporizer industry and try make order out of the chaos," added Rosenberg.
With expansion into software and technologies, mCig, Inc. now serves the entire MMJ value chain. The company's line of quality vapor products and accessories are available at retail locations and online at www.mcig.org/buy-online. mCig also recently announced plans for a compact CO2-based Home Extraction Machine, and intends to roll out a line of non-chemical-based vape pens to serve both consumer and OEM markets. The company is also investing resources into a number of extraction facilities in key markets throughout the U.S.
"As the MMJ and legal recreational markets spread nationwide, there is a greater need than ever for software systems to support all aspects of operations – from growers, to dispensaries, to the consumer," explained Richard Krueger, mCig, Inc. EVP. "The common thread that runs across our software is a proprietary analytics platform that meshes disparate data sources, such as real-time soil and light sensors, point-of-sale (POS) systems, user reviews, weather data, electrical and water consumption, security cameras, and more, to deliver deep insights from seed-to-sale-to-consumer," continued Krueger. "I'm thrilled to be able to play a role in shaping the future of software for this exciting industry," explained Krueger.
VitaCig Inc. Trading Update
The company's 47% owned affiliate VitaCig Inc. began trading on the Over The Counter unlisted market under the symbol VTCQ on January 6, 2015. The company advises its shareholders to remain patient while VitaCig Inc. obtains its OTCQB listing that will provide better market access and price transparency. The initiation of trading also marks the final step in the spinoff of VitaCig Inc. from mCig Inc., allowing the two brands to pursue their independent market opportunities. VitaCig Inc. will provide a separate and formal update to shareholders once shares have been listed on the OTCQB.
About mCig, Inc.
mCig, Inc. (OTCBB:MCIG) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as "eCigs") by the world's 1.2 Billion smokers. The company manufactures and retails the mCig(R) line of products including the mCig(R) 2.0 -- the world's most affordable vaporizer priced at only $10 to the mCig(R) 3.0 -- one of the most advanced personal vaporizers on the market. Designed in the USA -- the mCig(R) provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience. The company also owns Vapolution, Inc. which manufactures and retails home-use vaporizers such as the Vapolution 3.0. Through its 47% owned affiliate, VitaCig, Inc. (OTCQB:VTCQ), the company manufactures and retails the VitaCig(R), a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors. See more at: http://www.mCig.org/, www.Vapolution.com, and www.VitaCig.org
The company believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the eCig industry following the first acquisition of an electronic cigarette brand (Blucigs) by a traditional tobacco company Lorillard Inc. for $135 million followed by another acquisition in February 2014 by Altria Group Inc. of Green Smoke for $150 million. Wells Fargo analyst Bonnie Herzog estimates that eCig sales may rise from $1 Billion in 2013 to $10 billion over the next three years.
mCig, Inc. (MCIG) has positioned itself as a first mover at the intersection of these two trends and hopes to create shareholder value by making the mCig(R) one of the leading choices for electronic consumption of plant material. - See more at: http://www.mcig.org/investors/investor-opportunity-subpage/
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.