After completing a technical round trip, GB Sciences Inc (OTCMKTS:GBLX) shares have shown some signs of renewed life in recent days as volume kicks up and the stock pushes higher by 20% in two days to start this week. To help fuel that action, the company just announced that, along with the LSU Agricultural Center (LSU AgCenter), they have now commenced operation in the environmentally controlled grow pod.
According to the release, “The first plants in production were developed through tissue culture propagation to ensure genetic consistency. Once operating at full capacity, the facility will have plants at staggered stages of growth, enabling a continuous harvesting cycle that will provide the raw material for Louisiana’s therapeutic cannabis program. Final formulations are expected to be available in November of this year.”
GB Sciences Inc (OTCMKTS:GBLX) as a company that seeks to be an innovative technology and solution company that converts the cannabis plant into medicines, therapies, and treatments for a variety of ailments.
The Company is developing and utilizing state of the art technologies in plant biology, cultivation and extraction techniques, combined with biotechnology, and plans to produce consistent and measurable medical-grade cannabis, cannabis concentrates and cannabinoid therapies.
“Although we believe that maximum shareholder value will ultimately be achieved through the development, production, and marketing of certified cannabinoid medicines, therapies and treatments, in order to generate cash flow and near-term profitability, we intend to cultivate and dispense cannabis for medical purposes in both Nevada and other states which permit such sales and in which we and our operating partners are able to obtain cultivation and dispensing licenses. We seek to become a trusted producer of consistent and efficacious medicinal strains and products, combining both cannabinoids and terpenes, which we intend to market in those states within the United States and in other countries where the sale of medical cannabis products are permitted. In addition, subject to obtaining Food and Drug Administrative (FDA) certification, we intend to market our cannabinoid-based drug discoveries on a worldwide basis.”
GBLX claims to produce measurable medical-grade cannabis, cannabis concentrates, and cannabinoid therapies through using various technologies in plant biology, cultivation, and extraction techniques combined with biotechnology.
It also claims to be involved in the development of controlled-climate indoor agricultural technology growing and cultivation suites, including TissueBLOX, GrowBLOX, CureBLOX, and ExtractionLAB.
According to additional company materials, “GB Sciences, Inc. (GBLX) is a diverse cannabis company, focused on cultivation as well as biopharmaceutical research and development. The Company’s goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions.”
Find out when $GBLX stock reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
Traders will note 14% during the past week in terms of shareholder gains in the stock, but this action is running counter to the larger trend in the name. What’s more, the name has benefitted from a jump in recent trading volume to the tune of greater than 250% over what the stock has registered over the longer term.
“We’re very excited to be working with the LSU AgCenter here in Baton Rouge because their scientists are doing the exact same things with other agricultural products, like sweet potatoes, rice, and sugar cane,” said John Davis, President of GB Sciences Louisiana. “And we’re excited about what can come from that research partnership: the inventions, the new strains, and a genetics databank.”
Currently trading at a market capitalization of $53.7M, GBLX has a significant war chest ($4.7M) of cash on the books, which is balanced by about $1.2M in total current liabilities. One should also note that debt has been growing over recent quarters. GBLX is pulling in trailing 12-month revenues of $3.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2331.3%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $GBLX 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 $GBLX, either long or short, and we have not been compensated for this article.