Abattis Bioceuticals Corp (OTCMKTS:ATTBF) broke out in a big way in Tuesday’s trade, blasting through resistance in the $0.25/share zone, continuing higher to an intraday top well above twice that level. ATTBF has since given back some of the gains, but its imperative to note that the move came on all-time record trading volume and in response to the company’s announcement of the successful completion of experiments confirming column chromatography extraction technology.
According to the company’s most recent release, “the experiments assessed the feasibility of applying the technology for the extraction of CBD, THC and THCA from industrial hemp and cannabis. Throughputs, yields, purity and terpene profiles were also part of the scope of work performed at our facility, Northern Vine Labs. Bench scale runs were carried out in conjunction with confirmatory larger scale runs of up to 75 kilograms of biomass per day. The technology is already being used in an industrial scale capacity of up to 50,000 kilograms of biomass per day. The developer of the technology is now preparing to work with key partners to start isolating cannabinoids for the upcoming Canadian legalized market.”
Abattis Bioceuticals Corp (OTCMKTS:ATTBF) casts itself as a specialty biotechnology company with capabilities through its wholly owned subsidiaries of cultivating, licensing and marketing proprietary ingredients, bio-similar compounds, patented equipment and consulting services to medicinal marijuana markets in North America.
In essence, ATTBF develops, licenses, and markets health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets in Canada. It is also involved in the possession of cannabis and related active ingredients, as well as the production of extracts; and bioceutical marketing services in the area of health products.
ATTBF was formerly known as Abattis Biologix Corporation and changed its name to Abattis Bioceuticals Corp. in September 2012. Abattis Bioceuticals Corp. was incorporated 1997 and is headquartered in Langley, Canada.
According to company materials, “Abattis is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. The Company has successfully developed and licensed natural health products, medicines, extractions, and ingredients for the biologics, nutraceutical, bioceutical, and cosmetic markets. The Company is also seeking to acquire exclusive intellectual property rights to agricultural technologies to be employed in extraction and processing of botanical ingredients and compounds. The Company follows strict standard operating protocols, and adheres to the applicable laws of Canada and foreign jurisdictions.”
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As noted above, Tuesday’s action is looking for all the world like a truly significant event in the life of this stock. However, we always encourage traders and investors to not react to a single session. Often, the most important trends start with a day like this, but there is also a litany of similar looking headfakes among the OTC ranks. If this is indeed a key change in the fate of this company, there will be plenty more upside to come, and one won’t miss out by letting it show some further confirmation in the days that follow.
“The extraction method using proprietary polymers has very distinct competitive advantages over traditional methods,” said Rob Abenante, President and CEO of Abattis. “The technology is capable of extraction on an industrial scale, which delivers significant cost advantages. It is also capable of separating cannabinoids on a molecular level which allows for the extraction of pure isolates such as CBD and THCA and even the separation pesticides from the biomass.”
“We believe the implementation of this extraction technology has the ability to give Abattis a competitive advantage in the extraction industry. It is our intention to position the extraction technology with the largest producers and oil manufacturers in North America to provide the market with the highest quality distillate and isolates, at the lowest cost. We feel the evolution of the industry will lead to the commoditization of marijuana and hemp, at which point downstream services such as extraction will become the primary focus of the industry as companies compete to create thousands of new products based on the numerous derivatives,” added Mr. Abenante.
At this time, carrying a capital value in the market of $71.2M, ATTBF has a bankroll ($867K) of cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $ATTBF 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 $ATTBF, either long or short, and we have not been compensated for this article.