Rising India Inc (OTCMKTS:RSII) The original move in “Cannabis Move #2 “happened in February in anticipation of Canada announcing they would legalize across the entire country. Stocks which did not move in October 2016 during the Election accumulation (Cannabis Move #1) got a follow on bump. Some stocks held valuation and had the benefit of new investors and price appreciation in both moves. Other stocks hurried to get the benefit of the rising tide lifting all boats.
RSII is one of the stocks who participated in Cannabis Move #2, in a recent press release they said they were pleased to announce they executed a Letter of Intent with Rising BioSciences, Inc. for a reverse merger in which the capital stockholders of RBI will acquire control of Rising India toward immediate execution of a business model with a focus in alternative medical and cannabis pharmaceutical markets.
Rising India Inc (OTCMKTS:RSII) CEO, Jim DiPrima has agreed to resign as an officer with the Company making way for the appointment of Robert Weber, who also serves as CEO for PAO Group, listed on the OTC Markets as New Wave Holdings.
“I am very excited about the plans discussed with Weber thus far and have confidence the merger could provide some thrilling possibilities in terms of shareholder value,” stated DiPrima.
Robert Weber agrees, “I feel we have some very favorable circumstances here,” states Weber. “There are a number of opportunities in development and marketing of cannabis pharmaceuticals that are synergistic with our endeavors at PAO Group and beyond. Rising Biosciences plans to capitalize on these opportunities toward an assertive growth plan for shareholders alongside a highly expansive business model.”
Looking at the YTD chart shows they were fortune to jump on the bandwagon and common shareholders have benefitted greatly. Shares have been volatile, and if you didn’t chase it you are having a nice year. Now the trick will be how the company performs, and I think every stock in the sector will be viewed differently in the next few quarters as the shine wears off of the new bike.
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I would also say here the company has a history of looking for band wagons to jump on having been in Film, and Assisted Living. This is not so unusual for companies to swap the model internally, but it often surprise shareholders when they do reverse splits and make wholesale changes in what they do, so it will be important to hear about the business model and how it will work and break down the numbers.
I never back away from stories where companys are making changes, and Rising India Inc. (OTCMKTS:RSII) seems progressive in their desire to help shareholders find a growing market, they certainly did that jumping on the Cannabis Bandwagon hoping the rising tide will lift all boats for a long time to come. For more news on $RSII and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.