Cannabis Science Inc (OTCMKTS:CBIS) Is On The Highway to Success

The share price of Cannabis Science Inc (OTCMKTS:CBIS) has been on the rise in the recent past. The company which begun the week at $.05 has closed yesterday at $.105.During the same period, the company’s traded volumes have also risen to the hundreds of millions. This is symbolic of an event within the market that has had an impact on their valuation.View the share price action in the chart below: CBIS Daily ChartWith the above in mind, this piece seeks to ensure that the reader has a firm understanding of the current moves made by the company and how they are going to affect the future prospects of the company.Background to CBISCannabis Sciences Inc was incorporated in 2009 with headquarters in Colorado Springs.Their brand name has been made through entry into partnerships with universities and researching into the most effective ways to boost cannabis output. Their objective has always been ensuring that the yields from their farms are of the highest quality in the market in which case their client base will be retained.The above is courtesy of their venture into the health sector, where the company works at inventing, developing, producing and commercializing of novel drugs that are useful in the treatment of cancer, HIV/AIDS and neurological conditions. Some of these drugs include CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1.Furthermore, their recent entry into the online market has enabled them to enjoy the benefits of a much larger market base coupled with the ability to sample the reviews they receive as feedback from their clients.As such, the company is now a strong player in both the medical and recreational cannabis space, a factor which is playing well for them this far.Recent DevelopmentsCBIS begun the month with a major announcement that they were nearing completion in development of a patentable formulation. The drug would be useful in the treatment of Asthma/COPD Overlap Syndrome.The segment seemed important to the company given that currently, about 5 million people annually with over 20% of them exhibiting signs of asthma. As such, the new drug will come to solve a significant problem within the US and world over, a factor which the company prides itself in.Cannabis, which has been seen to treat these ailments, will be used in this drug to target both the ailments so as to ensure that their clients feel the calm relief associated with the drug without necessarily having to purchase multiple drugs.Going forward, the company will begin the trial phase of the drug which they expect will soon be the holy grail upon the occurrence of this syndrome.Less than a month from this announcement, the company announced that it had acquired a second dispensary within Los Angeles and the greater San Fernando Valley area.The dispensaries that have been dubbed the Pre ICO dispensaries, courtesy of a move addressed in the next section of this piece, are set to open in January 2018, a time when the influx of recreational cannabis from California is expected to have a spill-over effect down south.The company, which expects to turn both cash flow positive and profitable within the 2018 period, is banking on these new dispensaries to bring them afloat and bring their vision to fruition.BlockchainThe cannabis industry has for the longest time had to operate in a strange way, cash only. The businesses have taken a major hit courtesy of the illegal status the drug holds at the federal level. As such, banks and other financial service players which operate under the federal laws of US cannot grant such companies some of the services they very well need.This is, however, about to change.Cannabis Sciences Inc has come up with the solution to this problem: blockchain. The company is currently working with a major asset-backed blockchain participant and other partners to get them into the cryptocurrency space.Through this platform, the company is working at ensuring that they can provide integration between different players within the cannabis sector as well as efficiency within it by connecting the retailers and their customers. Furthermore, with the removal of banks from the space, transactions between the different players such as suppliers and growers of cannabis need not necessarily be in cash. This will go a long way in alleviating the risks that have been associated with carrying out their business purely in cash.As such, with this new development, the company’s value proposition is quite strong and this is therefore the likely reason for the spike in their share price.FinancialsWith the company’s net loss falling from $18 million to $10 million and despite their revenues falling to $9,263 from $44,227, the company is seen to have embarked on a serious cost-cutting strategy. Through this, they expect that future periods will bring with them much more success than current periods have. Eventually, they expect to reap the benefits of this strategy as soon as 2018.ConclusionCBIS is a company with a strong vision. Their view of the cannabis sector has led them to come up with a solution that will revolutionize the industry. As such, the company’s expected trend can only be described by one word: up.We will be updating our subscribers as soon as we know more. For the latest updates on CBIS, sign up below!Disclosure: We have no position in CBIS and have not been compensated for this article.