Marijuana Company of America Inc. announced that in an effort to shift to fully focus on its hempSMART ™ CBD Consumer Products Division it has dissolved itself of a Joint Venture with Canadian-based Global Hemp Group, Inc. GHG accepts to make a two cash payment to MCOA, one on or before September 30, 2020 and the other on or before November 15, 2020. GHG will grant to MCOA common stock from its treasury for an amount equal to $185,000 based on the trading price of GHG's stock at the time the settlement agreement is fully executed before September 30, 2020. The parties agree that the settlement results in GHG owning 100% of the Joint Venture implies that there will be no need to liquidate the Joint Venture, save and except for any other ancillary agreements that may be necessary to give full force and effect to the transaction contemplated herein. The purpose of the joint venture was to develop a project to commercialize the cultivation of industrial hemp on a 109 acre parcel of real property owned by the Company and Global Hemp Group in Scio, Oregon, and operating as a joint venture under the Oregon corporation Covered Bridges Ltd. On May 30, 2018, the joint venture purchased TTO's 15% interest in the joint venture for $30,000, and subsequently the Company and Global Hemp Group had equal interests in the joint venture. The joint venture agreement commits the Company to a cash contribution of $600,000 payable on the following funding schedule: $200,000 upon execution of the joint venture agreement; $238,780 by July 31, 2018; $126,445 by October 31, 2018; and, $34,775 by January 31, 2019. The Company has complied with its payments. The 2018 crop of hemp grown on the joint venture's real property consisted of 33 acres of high yielding CBD hemp grown in orchard style cultivation on the property. The 2018 harvest consisted of approximately 37,000 high yielding CBD hemp plants producing 24 tons of biomass that produced 48,000 pounds of dried biomass. The joint venture partners prepared processing samples ranging in size from 100 lbs. to 2,000 lbs. for sample offers to extraction companies. The biomass is being processed into CBD crude oil with the option to refine it further into isolate, or full spectrum oil, in order to increase its value on the market. As of December 31, 2019, the combined balance of the joint venture investment and related farmland investment was $0 as the investment was written off as a loss for the period ended December 31, 2019.