One stock that has recently held support and started to bounce to the upside is Cannabis Science Inc (OTCMKTS:CBIS). The move comes ostensibly on news that the company just announced that its latest University Scholarship Expo will begin this weekend at Cali RX, Cannabis Science’s flagship location.
“As previously stated, these beautiful, state-of-the-art, retail facilities are designed to connect Cannabis Science directly with patients and doctors. Additionally, these facilities provide our company with a platform to contribute to the development of the communities in which we operate,” stated Mr. Raymond C. Dabney, Cannabis Science’s President, Chief Executive Officer, and Co-founder. “As a good corporate citizen, Cannabis Science, through our partners, intends to offer educational opportunities for people in traditionally underserved communities.”
Cannabis Science Inc (OTCMKTS:CBIS) defines itself according to the narrative of a leading-edge researcher and designer of cannabinoid solutions to health problems.
The company has been a world-class dilution machine over many years, and any serious larger time-frame bullish thesis must ultimately square off with that dynamic. Over the past 18 years, the real value of a $54,000 investment here has fallen to less than a dime. This is simply due to tactics such as reverse splits, convertible debt, and share creation.
The company has never really made any money, and consistently uses communications tactics to latch onto whatever new theme is tickling the palate of microcap investors, such as its latest attempt to latch onto the cryptocurrency theme. We think there is virtually no chance that this idea will ever amount to anything. They create shares and sell them with messaging and pay themselves. There are many “real companies” in the micro-cap space. As far as we have seen over the years, this is not one of them. Be sure to keep that in mind.
CBIS claims to be involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance, though no sales have ever materialized from any of these pursuits.
It also claims to be developing 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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Recent action has seen 10% tacked on to share pricing for the company in the past month, but that move comes in the context of a larger bearish trend. Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 9% above its longer-run average levels.
The company also continues to pursue its iCannabinoid agenda. According to the release, “iCannabinoid is the premier online platform for all things Cannabinoid-related, and creates a community of patients, doctors, researchers, parents, lawyers, growers, journalists, government and private-sector leaders, community organizers, and other interested parties. Cannabis Science encourages its customers to inquire about iCannabinoid, the Company’s online, high-tech social platform, at all retail locations. Cannabis Science’s aim is to have a fully-integrated community, by providing the experience of brick-and-mortar locations, as well as an online community for sharing experiences with medical marijuana and learning about the industry.”
At this time, carrying a capital value in the market of $163M, CBIS has virtually no cash on the books, which is balanced by about $2.3M in total current liabilities. CBIS is pulling in nominal 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 -15.2%. We will update the story again soon as further details emerge. 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.