Cannabis Science Inc (OTCMKTS:CBIS) has been in a breakneck momentum trend since the latter half of December. But CBIS has started to battle against resistance in the $0.13-0.15 area. The key breakout on the chart was the move above the pre-election October highs in the $0.075 area. The company has continued to be extremely active on the newswires as well, putting tremendous “catalyst pressure” on bears – of which there likely remains many given the company’s lack of revenues and marked history of dilution.
The latest such headline catalyst is a release noting that Crown Baus Capital Corp, a global acquisition-based conglomerate, is apparently “structuring an investment management opportunity with Cannabis Science” for participation in its Douglas County, Nevada property and drug development project. According to the release, details of the CBIS & CBCA arrangement are “pending,” but are understood as likely to include a CBIS shareholder stake in CBCA.
Cannabis Science Inc (OTCMKTS:CBIS) frames itself as a company that develops, produces, and commercializes phyto cannabinoid-based pharmaceutical products primarily in the United States. The company is involved in developing medicines for autism, blood pressure, cancer and cancer side effects, as well as for other illnesses comprising for general health maintenance. It also develops CS-TATI-1 for newly diagnosed and treatment-experienced patients with drug-resistant HIV strains, as well as those intolerant of available therapies; CS-S/BCC-1 to treat basal and squamous cell carcinomas; and a proprietary cannabis-based therapy for neurological conditions.
Cannabis Science Inc also has collaboration with IGXBio, Inc. to develop GenePro, a DNA-based immunotherapeutic drug.
In addition, the company offers an online video-based medical cannabis education system, including courses, such as medical cannabis law, medical marijuana, cooking, horticulture, and bud tending; and manufactures and distributes specialty horse and pet grooming and topical applications. It has a license agreement with Apothecary Genetics Investments LLC to produce various brand formulations for California medical cannabis market.
Cannabis Science, Inc. is based in Colorado Springs, Colorado. Cannabis Science Inc is a subsidiary of Weedmaps Media, Inc.
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The stock has continued to act extremely well, fueled by a lot of press and exposure to the in-group status in the public zeitgeist as a legitimate investment to participate in cannabis-related upside for funds and family offices striving to gain some kind of exposure to the growth expected in the space.
In all, the CBIS chart shows 83% piled on for shareholders of the stock during just the trailing month. This is emblematic of the stock. Cannabis Science has a track record that includes a number of dramatic bounces. Moreover, the company has registered increased average transaction volume recently, with the past month seeing exceeding 180% above its longer run average levels, as the stock continues to sit among the most traded names in the cannabis patch nearly every day.
To get a sense for how the company is starting to frame the big picture, we thought the following excerpt was telling: “Cannabis Science has substantial property development contracts in California and Nevada to build fully licensed, state compliant medicinal and industrial cannabis/hemp production. The Company is splitting the investment opportunities into one-acre parcels for each land development project. Objectives are to build a portfolio of investors, partners, and supply chain production operations throughout the United States that are at various stages of legislative development and leverage our core competencies and strengths. Each project is centered around cultivation and cannabinoid-based drug development programs targeting critical ailments.”
At this time, carrying a capital value in the market of $279.8M, CBIS has virtually no cash on the books, which must be weighed relative to about $2.1M in total current liabilities. One should also note that debt has been growing over recent quarters. The revenue cycle hasn’t happened here, but Cannabis Science clearly has a number of irons in the fire and fresh updates including sales flows may be close at hand. We will update the story again soon as developments transpire. For continuing coverage on shares of $CBIS stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!