After all the scrum and scuffle between CV Sciences Inc (OTCMKTS:CVSI) and its detractors and accusers, we are finally moving toward the end of the plaintiff acquisition period for class action lawsuits related to Citron’s claims of wrongdoing, and the stock is starting to rally again and get active on the marketing side as the hornets fall into the rearview mirror.
As a case in point, the company just announced that it will be a Title Sponsor of the 25th anniversary of HIACON Conference on November 2-5, in Los Angeles, California. According to the release, “Produced by the Hemp Industries Association (HIA), HIACON will bring together over 400 attendees (cultivators, stakeholders, buyers), more than 55 speakers and industry thought leaders, and many other hemp and CBD sponsors to the Hilton Los Angeles Airport Hotel.”
CV Sciences Inc (OTCMKTS:CVSI) bills 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.
The company was formerly known as CannaVEST Corp. and changed its name to CV Sciences, Inc. in January 2016. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.
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.
According to company materials, “CV Sciences, Inc. (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. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.”
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As noted above, CVSI just announced that it will be a Title Sponsor of the 25th anniversary of HIACON Conference on November 2-5, in Los Angeles, California. In all, recent action has seen 15% added to share values of the name over the past week of action.
Furthermore, the name has benefitted from a jump in recent trading volume to the tune of 0% beyond what we have been seeing over the larger time frame.
According to the release, “Since 2014, CV Sciences has pioneered the hemp industry through research and development affiliations with the University of Kentucky and Murray State University, amongst others and recently announced its partnership with Rodale Institute’s research on organic hemp farming alongside industry leaders Patagonia and Dr. Bronner’s. HIA, a 501(c)(6) non-profit dedicated since 1994 to the education, equality, and expansion of industrial hemp, is set to host their annual membership-only general meeting on Friday, November 2nd followed by the conference and tradeshow open to the public on Saturday, November 3rd through Monday, November 5th. The HIACON convention also will feature eight education tracks including: Retail & Market, Health, Product Innovation, Law & Policy, Standards & Regulations, Processing, Agronomy, and Plant Genetics.”
At this time, carrying a capital value in the market of $555.35M, CVSI has a significant war chest ($7.2M) of cash on the books, which compares with about $3M in total current liabilities. CVSI is pulling in trailing 12-month revenues of $33.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 202.5%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $CVSI 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 $CVSI, either long or short, and we have not been compensated for this article.