Marijuana Company of America Reports Q3 2022 Financial Results and Operational Highlights - Seite 2

increased to $3,937,541 for the three months ended September 30, 2022 compared to $1,764,591 for the three months period ended September30, 2021, representing an increase of $2,172,950. This is a direct result of losses on various equity investments.

• Total year to date revenues were $962,343 for the nine months ended September 30, 2022 as compared to $493,988 for the nine months ended September 30, 2021, representing a 94.8% increase year-over-year.
• Gross profit for nine months ended September 30, 2022 increased to $355,282 generating 37% in gross margin, compared to a gross profit of $87,016 for the same period ended September 30, 2021, representing an 18% in gross margin.
• Operating expense for nine months ended September 30, 2022 decreased to $3,007,002 as compared to $3,315,719 for the same period in 2021, representing a 1.0% reduction in operating expenses. This resulted in an improvement to operating loss to $2,651,720 for nine months ended September 30, 2022 as compared to $3,228,703 for the same period in 2021, representing a 18% improvement.
• Net loss increased to $10,066,431 for the nine months ended September 30, 2022 compared to a net loss of $7,250,698 for the same period in 2021, an increase of $2,815,733. This increase in net loss is the result of reductions in long-term investments by the Company.
• Total assets decreased to $3,468,297 as of September 30, 2022 from $7,959,899 as of December 31, 2021.
• The Company's total current liabilities increased to $8,982,412 as of September 30, 2022 as compared to $7,729,010 for the year ended December 31, 2021, representing a 16.2% increase in debt.
• Net Cash used in Operating Activities decreased substantially from $2,693,632 for the nine month period ended 9/30/21 to $1,757,153 for the period ended September 30, 2022. This decline represents a decrease of over 34% in cash spent on operation in 2022.

Please review the Form 10Q filed with the Securities and Exchange Commission on November 14, 2022 for additional financial details.

About Marijuana Company of America, Inc.
MCOA is a corporation that participates in: (1) product research and development of legal hemp-based consumer products under the brand name "hempSMART™", that targets general health and well-being; (2) an affiliate marketing program to promote and sell its legal hemp-based consumer products containing CBD; (3) leasing of real property to separate business entities engaged in the growth and sale of cannabis in those states and jurisdictions where cannabis has been legalized and properly regulated for medicinal and recreational use; and, (4) the expansion of its business into ancillary areas of the legalized cannabis and hemp industry, as the legalized markets and opportunities in this segment mature and develop.