Step Right Up and Ride the Cannabix Technologies Inc (OTCMKTS:BLOZF) Roller Coaster

Step Right Up and Ride the Cannabix Technologies Inc (OTCMKTS:BLOZF) Roller Coaster

SHARE

One spot to find some recent volatility in the micro-cap space is in shares of Cannabix Technologies Inc (OTCMKTS:BLOZF). This stock has been all over the map, diving hard over the past 7 days and then rallying in a big sprint to reclaim lost ground. The spur behind the latest giddy-up on Wednesday was clear: the company just announced that company scientists have apparently developed proprietary methods resulting in the achievement of the highest THC detection levels collected from human breath to date, according to their own messaging.

According to the release, “Over the last several months, Company scientists have studied the unique chemical interactions of THC and cannabinoids in breath, and developed and evaluated novel methods to efficiently and practically capture and ionize THC and cannabinoid analytes collected from several different subjects. These analytes are typically found in extremely low quantities due to their relatively low volatilities, requiring an efficient sampling method. The Company’s newly developed methods and technologies for sample capture are an important milestone and represent a significant advancement in the field of human breath studies. These novel capture methods could have implications for both point-of-care and lab-based instruments that would provide real-time results from breath samples, targeting analytes of a wide range of volatilities. The Company continues to expeditiously conduct trial testing to evaluate the sensitivity and accuracy of the instrument and to collect data to determine variance among test subjects at its Vancouver and Florida development facilities using its FAIMS (field asymmetric waveform ion mobility spectrometry) THC detection device.”

Cannabix Technologies Inc (OTCMKTS:BLOZF) trumpets itself as a technology company, develops marijuana breathalyzer for law enforcement and the workplace in North America.

It develops drug-testing devices that will detect tetrahydrocannabinol using breath samples at roadside and identify drivers under the influence of marijuana. The company was formerly known as West Point Resources Inc. and changed its name to Cannabix Technologies Inc. in August 2014.

According to company materials, “Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing durable, portable hand-held tools to market to enhance detection of marijuana-impaired driving offenses on roads at a time when marijuana is becoming legal in many global jurisdictions. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects usage, days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where impairment by THC can be hazardous.”

Find out when $BLOZF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, BLOZF just announced that company scientists have apparently developed proprietary methods resulting in the achievement of the highest THC detection levels collected from human breath to date, according to their own messaging

The stock is actually just about flat over the past month, but it has been a roller coaster ride in that time, with a veritable crash and then a one-day rebound to reclaim all lost ground.

According to the release, on patent filings, “the Company’s technology has significantly progressed since its original filings, and improvements have been made to every aspect of the instrument (in particular related to Company’s originally filed US and Canadian patent application Nos. 14/689434 and 2887841). New intellectual property and trade secrets have been developed that will ultimately supersede earlier patent applications. The Company’s intellectual property is growing and additional patent applications will be filed in due course.  Additional applications that are already pending include Canadian and US applications directed to an intercept system (ignition interlock device) for controlled substances (Nos. 3041860 and 16/344578).”

Earning a current market cap value of $47.6M, BLOZF has a significant war chest ($8.1M) of cash on the books, which compares with virtually no total current liabilities, according to the company’s filings. The company is pre-revenue at this point. 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 $BLOZF 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 $BLOZF, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter