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Monday, November 23, 2020

CV Sciences Inc (OTCMKTS:CVSI) Building Momentum Ahead of Cannabis Rush

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CV Sciences Inc (OTCMKTS:CVSI) is a name to watch in the Cannabis patch. CVSI is up again this week and will close out the month of April up more than 60%. The bullish outlook for CVSI keeps getting a little bit more clear as cannabis legalization and the trends within start to emerge. One other catalyst from CVSI that is internal has to do with the company tidying up its balance sheet. The recent debt its paid out avoided any dilution to stockholders and put additional trust in the operation.

“As recently reported in our Form 10-K filed on March 29, 2018, we made three monthly $100,000 repayments on this Note during the first quarter of 2018. We are continuing this monthly repayment schedule with this most recent payment. Our financial position continues to be very strong and has well-positioned the Company to satisfy all remaining debt obligations under this Note in cash,” said Joseph Dowling, CFO of CVSI.  “By repaying this debt obligation in cash, we will be able to avoid further dilutive issuances of our stock to the lender.”

CV Sciences Inc (OTCMKTS:CVSI) frames itself as a life science company, focuses on developing and commercializing novel therapeutics utilizing synthetic Cannabidiol (CBD).

CVSI operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors, including nutraceutical, beauty care, specialty foods, and vape.

Following the CanX Acquisition in December 2015, CV Sciences commenced its preclinical drug development program during the second quarter of 2016. The Company’s drug development efforts include pursuing synthetic-based Cannabidiol drug candidates in areas that have the potential to provide significant improvements in therapeutic patient treatments with sizable addressable markets.

CV Sciences Inc is led by Michael J. Mona, JR. founder of CV Sciences, Mr. Mona possesses over 30 years of senior management experience in a range of industries including real estate/construction, industrial farming, chemical processing and consumer products. Mr. Mona is a recognized industry leader in hemp farming operations and chemical extraction and has established a global supply chain of hemp-derived products.

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On the revenue side, CVSI is starting to gain momentum. Recent sales and profits have exploded more than 100%. Sales for Q4 2017 were $7.2 million and $20.7 million for the full year 2017 demonstrating the CVSI’s continued organic expansion into all multiple channels including the natural product retail, wholesale and direct-to-consumer channels.

These numbers indicate a very fast-growing company. Important to note, the high increase in revenue for 3Q2017 was a result of the firm’s expansion into various sales channels ranging from the natural product retail channel, wholesale and direct to consumer channels. CVSI’s natural product retail channel has over 1,400 locations across the country. The firm intends to continue increasing its new sales channels, and this has been supported by the strength of its branded products shown by the SPINS® Scan data, which ranks the firm as the leader in the sale of hemp product within the Natural Products sector.

Holding a current market cap value of $64.99M and a  float of 74.78M, CVSI is a company to watch as legalization and more states potentially enter the legal fold. Cannabis projections are high for the rest of the year and CVSI has a foundational business that is growing. This stock has the potential to rise over a $1 in the near-term, if they stay on the straight and narrow with their debt. For continuing coverage on shares of CVSI stock and other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

 

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