Cannabis Science Inc (OTCMKTS:CBIS) is one of those old-school non-revenue, pink sheet, multi-billion outstanding share stocks hanging around the cannabis patch that can still somehow manage to catch the attention of OTC traders from time to time with a well-placed headline. The latest example is CBIS’s announcement that the initial harvesting of approximately 60 acres of industrial hemp on San Joaquin Sovereign Tribal Fee land MBS, California. According to the release, “the 2017 CBIS/FSO NAC MBS001 harvesting is a two-phase project, the first phase of the harvesting will be approximately 15-acres that is underway now, it is expected to be completed by the end of this month. Phase two will be the remaining 45 acres and is expected to be completed by the end of September 2017.”
“I am very pleased with the progress of our Native American initiatives; our Partners are second to none. They know the landscape, they know the process, they get it, and so do we. The industrial hemp commercial research scheduled for the 2017 CBIS/FSO NAC MBS001 harvest is extensive, initial research targets include extraction for medicines targeting critical ailments, wholesale distribution to physicians and licensed wholesale manufacturers, extraction research and development for fuel, construction materials, clothing, paper, food, vehicle production, and biomass soil, the industries are many and the numbers are immense. The initial 60-acres of the 2017 CBIS/FSO NAC MBS001 harvest is expected to come in potentially around 70,000-pounds, with raw wholesale numbers that make sense around $500.00 per lb., plus factoring in high demands and high quality can create a considerable increase in value for the initiative,” stated Mr. Raymond C. Dabney, Cannabis Science’s President, Chief Executive Officer, and Co-Founder.
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 noted above, CBIS has managed to spark some interest after a steady decline with its latest announcement that an initial harvesting of an industrial hemp plot has begun. We know there is some reference to a partnership with a Native American tribal company. However, the details of that partnership, in terms of percentage ownership over the harvest, is not revealed in the press release.
For example, CBIS consistency refers to the harvest in shifting terms: “Since the Initiative launch, the Company has over 3,500 acres under contract for economic development for Universities and site services including, laboratory facilities for research & development. Other key fundamentals depending on the demographics of the area include housing, apartments, and dormitories, as well as the required retail services based on area demographics such as restaurants, gas stations, grocery stores, clinics/pharmacies, and retail strip malls.”
Notice that does not imply that the hemp itself will be owned free-and-clear by CBIS for direct sale into the market.
“These types of initiatives provide us with a platform for real collaborations and real growth. In addition to the agriculture, extraction, property development operations, we’re able to couple formal education programs with real-world, commercial activities to have a positive impact in the communities where we operate and contribute to overall economic development. We see this as a very serious win/win situation. Considering we made the season by planting back in June 2017 when we announced it, we are positioned for next year to complete the total 250 acres in this land package and possibly many more from additional Native American Educational Partners across the Country,” concluded Mr. Dabney.
Currently trading at a market capitalization of $131.32M, CBIS has a chunk ($317K) of cash on the books, which stands against about $2M in total current liabilities. CBIS is pulling in negligible trailing 12-month revenues of $10K. We will update the story again soon as further details emerge. 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!
Disclosure: We hold no position in $CBIS, either long or short, and we have not been compensated for this article.