Cannabis Science Inc (OTCMKTS:CBIS) has been running up the charts as one of the most dramatically successful OTC performers on the market during the second half of 2016. This action is in direct anticipation of the potential for an expanded legal footprint for marijuana-related business in the US that could come from voting in several days, on November 8, when nearly a third of the US population participates in nine state voting referendums on the legal status of cannabis.
CBIS is a company that has been participating in the build-up excitement through active moves striking partnerships in land deals for production and development to allow the company to scale up its volume to meet the larger market. The chart shows 200% tacked on to share pricing for the stock in the past month. Market participants may want to pay attention to this stock. CBIS stock has a past littered with sudden rips. Furthermore, the stock has registered increased average transaction volume recently, with the past month seeing just shy of 310% over the long run average.
Cannabis Science Inc (OTCMKTS:CBIS) frames itself as a company that develops, produces, and commercializes phyto cannabinoid-based pharmaceutical products primarily in the United States. The company 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, the company 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.
The company also has collaboration with IGXBio, Inc. to develop GenePro, a DNA-based immunotherapeutic drug. Cannabis Science, Inc. is based in Colorado Springs, Colorado. Cannabis Science Inc is a subsidiary of Weedmaps Media, Inc.
You can find out when $CBIS stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
The company is clearly preparing for CA Prop 64 as well as voting in a few more states to open as elections approach, bringing a likely major expansion in the scope of the legal marijuana and cannabis markets. They’ve laid the foundation for growth with its significant large land development deals to accomplish the goal of increasing its pharmaceutical grade drug output.
In addition, according to recent reports, the company has announced the pharmaceutical development of two new medications for pain relief for self-medicating patients with Diabetic Neuropathy Nerve pain and Fibromyalgia.
That parallels the action in some of their real estate deals. Some of the more noteworthy transactions are with unique strategic partners who already have DEA and Department of Agriculture licenses. This will help ensure a quick and risk-averse path to production and thus the ability to increase its drug output for those patients looking for pharmaceutical grade cannabinoid formulations.
This upcoming vote is of the utmost importance to any company serving the cannabis industry, and Cannabis Science Inc is continuing to position itself to serve these new markets pending positive voting results.
“We found ourselves at the forefront of a very special opportunity. In preparation, we have been significantly expanding our land portfolio in California and additional states for drug development in order to produce more products and meet demand as it increases. It isn’t often in economics when product demand is on the verge of such high growth potential and the anticipated supply is expected to decrease greatly,” said, President, CEO, & Co-Founder Raymond C. Dabney, “We are well on our way to increasing our cannabinoid production and getting quality products to market to help meet this demand for all self-medicating patients. We are determined, and thrilled to have this opportunity, to meet these special market needs.”
The stakes are high for Cannabis Science with voting right around the corner. Earning a current market cap value of $117.6M, CBIS has virtually no cash on the books, alongside total assets topping $2M, which is balanced by an appreciable load ($1.67M) of total accumulated debt. This is not a good balance sheet situation and there are virtually no revenues coming in to mitigate that narrative. That said, if the voting turns out in line with current polling, this will likely continue to be an exciting story going forward. For continuing coverage on shares of $CBIS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!