Is CV Sciences Inc (OTCMKTS:CVSI) Finally Ready to Turn Aces?

Is CV Sciences Inc (OTCMKTS:CVSI) Finally Ready to Turn Aces?

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Shares of CV Sciences Inc (OTCMKTS:CVSI) are flirting with a potential breakout above key resistance as renewed enthusiasm grips the cannabis and CBD space in 2019. To further flesh out the story, the company just announced the appointment of Joerg Grasser as Chief Accounting Officer, effective December 26, 2018. Mr. Grasser will report to CV Sciences’ Chief Executive Officer Joseph Dowling and will oversee the Company’s Accounting, Business Operations, Financial Planning and Analysis, Financial Reporting, SEC Reporting, Tax, Treasury and Information Technology functions.

According to the release, “Mr. Grasser joins the Company with more than 20 years of experience and an extensive background in accounting, finance, financial reporting, and operations. Prior to his role at CV Sciences, Mr. Grasser was Controller at Ballast Point Brewing, a subsidiary of Constellation Brands, Inc. Prior to his role at Ballast Point, Mr. Grasser held senior finance positions with Sequenom, Inc. and Peregrine Semiconductor Corporation. Mr. Grasser began his career at KPMG LLP providing audit and IT advisory services, advancing to senior audit manager. He has an MBA from the Keller Graduate School of Management, a BA from University of Regensburg and is a Certified Public Accountant.”

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 the appointment of Joerg Grasser as Chief Accounting Officer, effective December 26, 2018. Mr. Grasser will report to CV Sciences’ Chief Executive Officer Joseph Dowling and will oversee the Company’s Accounting, Business Operations, Financial Planning and Analysis, Financial Reporting, SEC Reporting, Tax, Treasury and Information Technology functions.

Recent action has seen flat action for shareholders of the company during the trailing week. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 21% beyond what we have been seeing over the larger time frame.

“We’re excited to have Joerg Grasser join CV Sciences to further strengthen our management team, continue to drive strong revenue growth and profitability, and to help realize on the tremendous potential of our fast-growing industry,” said Joseph Dowling, Chief Executive Officer.

“Joerg’s extensive financial, accounting and reporting experience, strong leadership skills, and commitment to ethical standards make him the ideal choice to contribute to CV Sciences’ continued momentum,” added Mr. Dowling.

Currently trading at a market capitalization of $446.12M, CVSI has a significant war chest ($11M) of cash on the books, which stands against about $3M in total current liabilities. CVSI is pulling in trailing 12-month revenues of $41.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 143.3%. This may be a very interesting story and we will look forward to updating it again soon. 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.

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