CBIS
Cannabis

Cannabis Science Inc (OTCMKTS:CBIS) Is A Market Favorite Again

In our last post regarding Cannabis Science Inc (OTCMKTS:CBIS), we explained that the stock was about to bottom out due to major underperformance. Movement in recent months shows that not only were we right, but the company is back upwards. After a period with average price fluctuating between $0.033 and $0.043. Presently, the stock has risen to $0.59, an increase of over 30% for the average investor. This is the stock’s price movement over the last year.

CBIS Daily Chart

Brief History of the Company

Despite the very recent flurry of activity within the company and the attention it has gathered, it has been in existence from as far back as February 1996 when it was established by current President and CEO; Mr. Raymond C. Dabney. The company specializes in the production of pharmaceutical solutions richly based on phytocannabinoid science. Its objective is to treat major ailments using scientifix methods to develop, produce and distributr itd medical products to potential users.

Some of Cannabis Science Inc’s products are developed in line with its specific knowledge of understanding of biological procedures to design new treatment methods, especially for sicknesses not well recognized either by the general public or the field of medicine. For more information on the company, check out our previous post here.

Recent Developments

Just a few weeks ago, CBIS celebrated the recent passage of the 2018 Farm Bill by the U.S. Congress’ passage, which effectively legalizes the cultivation and production of hemp.

Founder and CEO, Mr. Ralphs Dabney explained that the company has had a series of positive developments in 2018 giving it an effective reason to celebrate. He added that management is very willing to discuss the level of progress enjoyed by the firm an plan to make some unexpected disclosures in the near future.

To that effect, CBIS announced that it would host a Black-Tie Gala and based on the high level of response from the public, the decision was made to reopen the firm’s Shareholder Loyalty Portal. Hence, from the last week of 2018, till the end of January 2019, shareholders were again given the chance to indicate their interest in the shareholder loyalty gift program.

The objective of the Black-Tie Gala is for CBIS Cannabis Science intends to revel in the good news surrounding the Industry while recognizing and appreciating the firm’s massive strides within the medical-cannabis sector. The event also doubles as a chance to recognize and reward leaders within the industry and the firm itself such as shareholders and key business partners.

On the agenda for the event is an avenue for physicians as well as patients to discuss their cannabis treatment success stories with others present, auctions to raise additional funds, presentation of awards and more critically reports from the Company itself regarding about new drug developments and its plans to expand in the short, medium and long term. Finally, the event will display Cannabis Science’s new Pharmacies while there are plans to present the loyalty shareholder gifts at the same event.

Cannabis Science’s President, Mr Raymond Dabney was quoted as saying “This is an exciting time for our industry and we welcome the passage of the 2018 Farm Bill. The Farm Bill should create a more favorable environment for all USA industrial hemp projects. In Minden, Nevada we have 100 acres with our partners Free Spirit Organics Native American Corporation (FSO NAC) to cultivate industrial hemp with the University economic development plan, with an option to potentially develop up to 500 acres. This project should contribute significantly to our overall operations.”

Financial Performance

The firms has not released any financials since 2016, however the last results and general conception regarding the company are that it is yet to come out of the growth phase of its lifecycle. From total revenues of $173 million generated over the last five years, with $9.2 million earned in 2016, a figure only higher than 2014 revenues.

However, we are unable to tell firm has minimized its cost of operating, with SGA costs rising to $13.44 million in 2015 going and $7.92 million in 2015.

Net loss for the year (2016) was $10.2 million, continuing a trend of successive net losses by the company.

The company is also very highly levered, with its liabilities twice the total size of assets on its books. Some of the funds being raised are expected to be used to in settling these liabilities.

Conclusion

CBIS has continued to receive good market reviews due to belief in the firm. At this rate, the stock is expected to keep climbing.

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.

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Cannabis Science Inc (OTCMKTS:CBIS) Is A Market Favorite Again
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