Cannabis Science Inc (OTCMKTS:CBIS) has continued to execute something of a turnaround in recent weeks. There’s still plenty of work to be done, but we do see numerous positive signs here. The company’s latest press release is a great example. Our biggest complaint with this stock has been a seeming lack of understanding of what “business” is all about. The company went through a period where its operations seemed to have nothing to do with ever actually making any money. However, its latest release demonstrates a turn in this operational psychology as the company just announced that it has signed agreements to acquire and officially open the first Cannabis Science PRE ICO Medical Marijuana dispensary, in Los Angeles, California.
“Attaining this first PRE ICO Dispensary in L.A. is a huge step for Cannabis Science as it opens the door to speed up our planned expansion in the Los Angeles area and eventually California statewide,” stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney. “This is a prime example of our resilient and aggressive negotiations to acquire multiple pharmacies across the Los Angeles area. Finalizing this acquisition is just the first step of many that Cannabis Science will be taking to establish a statewide presence, with a nationwide future goal.
Cannabis Science Inc (OTCMKTS:CBIS) is a company that has been actively striving for, and achieving a bump in legitimacy through some of its newly established relationships. However, the concept of sales still seems far off, which is a bit remarkable.
CBIS defines itself according to the narrative of a leading-edge researcher and designer of cannabinoid solutions to health problems.
CBIS is involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance. It also develops CS-TATI-1 for newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, as well as those intolerant of available therapies; CS-S/BCC-1 to treat basal and squamous cell carcinomas; and a proprietary cannabis-based therapy for neurological conditions.
In addition, CBIS offers an online video-based medical cannabis education system, including courses, such as medical cannabis law, medical marijuana, cooking, horticulture, and bud tending; and manufactures and distributes specialty horse and pet grooming and topical applications. It has a license agreement with Apothecary Genetics Investments LLC to produce various brand formulations for California medical cannabis market.
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“As we acquire these dispensaries our first initiative for some of them is to enlarge, enhance and convert each location into the Cannabis Science Brand, with Grand Openings showcasing Cannabis Science products and quality Cannabinoid products and accessories for the patients, doctors, and the consuming public. Each location will allow for easier access and a better selection of products for the consumers. Products will range from pills, creams, extracts, sprays, tinctures, edibles, balms, patches, oils, and even merchandise. Not all products in the dispensary will be just from Cannabis Science, as we will be showcasing products from other respectable, regulated brands,” stated Cannabis Science Inc., President & CEO, Co-Founder, Mr. Raymond C. Dabney.
Recent action has seen 15% added to share values of the company over the past week of action, a bounce that has taken root amid largely bearish action over the larger time frame. Market participants may want to pay attention to this stock. CBIS is a stock who’s past is littered with sudden rips. Furthermore, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 0% over the long run average.
Currently trading at a market capitalization of $106.5M, CBIS has a chunk ($322K) of cash on the books, which is balanced by about $2.3M in total current liabilities. One should also note that debt has been growing over recent quarters. CBIS is pulling in trailing 12-month revenues of $7K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -91.2%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $CBIS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CBIS, either long or short, and we have not been compensated for this article.