ABATTIS BIOCEUTICA COM NPV (OTCMKTS:ATTBF) Running Up The Charts

Today, we will again talk about ABATTIS BIOCEUTICA COM NPV (OTCMKTS: ATTBF), which invests in agricultural technologies for the legal cannabis industry. If you remember well, in our previous piece, we said that a new CEO had been elected and the company had commenced to release interesting news that were positively affecting the stock. This trend has continued.In September, the company released a significant update, wherein it was noted that a new website had been prepared and a number of global distribution agreements have been reached for the commercialization of marijuana products.Additionally, other exciting news were released in the month of August. The most relevant was the design of a new CBD-based sunscreen formulation called RAYZ, and a partner of ATTBF received a cultivation license from Health Canada to grow medicinal marijuana.As we had also seen in our previous article, these news are making the stock price accelerate, thus we believe that our readers would welcome a new piece on this name. Have a look at the share price action before we provide all the details: 1 month chart for ATTBFLet's review the business model for those who have not read our recent article on the stock. ATTBF is Canadian company operating two subsidiaries in the marijuana industry. Northern Vine Labs is in charge of the analysis and testing of new formulae and also provides services to the legal cannabis sector in Canada. Additionally, Vergence Visionary Bioceuticals runs the marketing arm of the ATTBF and is in charge of sales and commercialization.Recent DevelopmentsAfter the news that we assessed in April, the company did not release any new announcements until August. On August 21, it was noted that Experion Biotechnologies Inc., which is a partner of ATTBF, officially received an Access to Cannabis for Medical Purposes Regulations cultivation license in Canada. As our readers may recall, ATTBF holds an 18.75% equity stake in Experion. Thus, we believe that the news should have affected the company's share price. Experion runs an 8,300 square feet cultivation facility and a portion is being used to grow medical-grade marijuana. Additionally, the company is planning to expand its facilities to 40,000 square feet. This is also great news, as more cultivating space means more revenue.Furthermore, on August 23, 2017, the news kept coming. In an update about Northern Vine's operations, the company noted that larger volume of licensed producer (LP) clients by next quarter is anticipated. We appreciated the update. Even if the company did not provide financial figures explaining how good will be the results of the next quarter, we could feel that they are quite positive. Hence, we encourage readers to be really prepared to receive the next 10-Q.Additionally, it was said that a new application to Health Canada regarding enhancing its security from Level 3 to Level 6 had been submitted. This seems to be a great step. This is what the company said about this announcement:

"Approval of this security level enhancement will increase the amount of controlled substances Northern Vine can hold and process in its lab to up to 25 kgs. This is expected to enable Northern Vine to exponentially increase the volume of services it can provide to LPs and ACMPR patients." Source

On top of it, in the same press release, we could read about new teams, such as Raybot Material Tech Corp from Langley, BC as well the addition of Dr. Anika Singh and Akshita Puri to the laboratory staff. It seems that more people want to work with the company, which is a good news. The accumulated expertise in the business and the know how will help drive the company's growth.Something even more interesting was released on August 28, 2017. A new CBD-based sunscreen formulation developed under the name of “Project RAYZ” had been designed by Northern Vine Labs. According to the press release, the new product is in compliance with the core recommendations from the American Academy of Dermatology and the Canadian Skin Cancer Foundation:

1. Broad spectrum protection (UVA and UVB, the two more common forms of ultraviolet radiation responsible of skin cancer)
2. SPF of 30+
3. Water resistance

In our opinion, the most relevant was what Dr. Galvez said:

“RAYZ is the first step in a line of skincare products that can be used during summer or winter while performing water-related activities, sunbathing, hiking or just working in your garden” Source

ConclusionCurrently trading with a market cap of $22 million and 133,895,599 outstanding shares, ATTBF is an exciting story among small caps. Still in a pre-revenue stage, the company has a solid balance sheet that includes approximately $0.36 million in cash, $1.4 in total assets, and only $0.2 million in total liabilities. We believe that if the company continues to report positive news noting the growth of its operations, the share price should continue rising.Be sure to check out our coverage on ATTBF!We will be updating our subscribers as soon as we know more. For the latest updates on ATTBF, sign up below!Image courtesy of GoToVan via FlickrDisclosure: We have no position in ATTBF and have not been compensated for this article.