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Tuesday, December 1, 2020

A New Spark Lights for United Cannabis Corp (OTCMKTS:CNAB)

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Among those stocks in the cannabis patch that have a history of dramatic outperformance, but which have been recently underperforming, and further, have just begun to show new signs of potential dramatic strength, one can add United Cannabis Corp (OTCMKTS:CNAB) to the list.

The company just provided preliminary, unaudited figures on revenues for the second quarter 2018 and offered guidance for the year. According to its latest release, “Revenues for the second quarter 2018 are $2 million, up 1400% as compared to the same period in 2017, and 800% over the first quarter 2018. This increase is primarily due to the launch of its industrial hemp-based processing facility. Management indicated that it expects to maintain this level of revenue going forward, forecasting a minimum of $10 million in revenue for 2018.”

United Cannabis Corp (OTCMKTS:CNAB) bills itself as a company that owns intellectual properties related to growth, production, manufacture, marketing, management, utilization, and distribution of medical and recreational marijuana, and marijuana-infused products in the United States.

It also provides consulting and product placement services related to marijuana industry. The company focuses on developing therapeutics, including Prana Bio Nutrient Medicinal products for supplement deficiencies related to the endocannabinoid system, including pain, neuropathy, arthritis, MS, IBS, autism, seizures, eczema, sleep, anxiety, head trauma, opioid dependency, and clinical endocannabinoid deficiencies; and Prana Aromatherapy Transdermal Roll-on line that provides targeted and large surface relief with combinations of aromatherapy.

CNAB has strategic partnerships with WeedMD RX Inc.; Harborside Health Center; and Westside Enterprises, LLC. The company also has a production and placement agreement with Jason Emo and Emotek LLC; licensing and exclusive distribution agreement with DNA Holding, LLC; and consulting and licensing agreement with Marcus Richardson.

The company was formerly known as MySkin, Inc. and changed its name to United Cannabis Corporation in May 2014. United Cannabis Corp was founded in 2007 and is based in Denver, Colorado.

According to company materials, “The Company’s Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purposes. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual’s, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combinations of cannabis-derived terpenes to increase bioavailability.”

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Recent action has seen 4% tacked on to share pricing for the stock in the past week, a rally that has pushed up against longer standing distributive pressure in the stock. In addition, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed above 120% above the average volume levels in play in this stock over the longer term. It pays to take note of this fact due to the tiny float size in the stock (of 15.2M shares).

Earnest Blackmon, United Cannabis’ Chief Executive Officer, commented, “The pilot run of our industrial hemp facility was very successful, resulting in a breakout second quarter. Looking forward, we project the Company will, at a minimum, continue this level of production throughout the year, and we expect to bring the full capacity of that operation online by the first quarter of 2019.”

Now commanding a market cap of $45.9M, CNAB has a chunk ($165K) of cash on the books, which compares with about $374K in total current liabilities. CNAB is pulling in trailing 12-month revenues of $723K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 3481.4%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $CNAB 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 $CNAB, either long or short, and we have not been compensated for this article.

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