GB Sciences Inc (OTCMKTS:GBLX) is Driving Innovation in the Cannabis Industry

GB Sciences Inc (OTCMKTS:GBLX) seems to back on its way up.After trading of at $0.27, the price has slowly risen to nearly $0.6.In this piece, we will provide you information on GBLX, and its exploration into the technology and cannabis industries.But first, take a look at the stock’s price action. GBLX Daily ChartBrief OverviewGB Sciences, Inc. was incorporated in 2001 and is based in Las Vegas, Nevada. The company was formerly known as Growblox Sciences, Inc. and changed its name to GB Sciences, Inc. in October 2016. It is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions.GB Sciences, Inc., through its subsidiaries, focuses on the development of cannabis plant into medicines, therapies, and treatments for various ailments. The company intends to produce medical-grade cannabis, cannabis concentrates, and cannabinoid therapies through various technologies in plant biology, cultivation, and extraction techniques combined with biotechnology. It also focuses on the manufacture, production, leasing, and licensing of GrowBLOX, a controlled-climate indoor agricultural technology growing and cultivation chamber to produce medical grade cannabis and other plant extracts, as well as providing remote diagnostic monitoring and servicing of growing chambers to third party growers and processors of hemp, cannabis, and other plant extracts. GB Sciences, Inc. has a contract research agreement with the Universidad de Sevilla to develop a time-released version of THC-free myrcene-based chronic pain formulationsThe firm also develops and utilizes state of the art technologies in plant biology, cultivation and extraction techniques, combined with biotechnology, and plan to produce consistent and measurable medical-grade cannabis, cannabis concentrates and cannabinoid therapies.Recent DevelopmentsThe firm recently reported that that all of its mother plants (a plant that in its vegetative state does not produce flowers but only branches and leaves) in their Las Vegas cultivation facility are now products of the GB Sciences tissue propagation initiative. In light of the popular belief that commercial tissue propagation is an 'urban myth' in the Cannabis world, this announcement is a true breakthrough. This fact, added to the consistently high crop yields and sharp monthly revenue increases over the past two months, is a pure innovation success story that is just beginning to emerge.Dr. Ulrich Reimann-Philipp, Chief Botanist at GB Sciences explained that the program began in 2014 as a one-man project, and in that time, the company has been unwavering in its commitment to research and development, exploring and understanding the plant. The firm’s goal has always been to be the company that turns pot into medicine, and this genetics milestone brings it a giant step closer to that goal. This was the first public announcement about a program that had been kept in the shadows' until definitive research results could be publicly released.Tissue culture is an advanced method of propagating Cannabis. Tissue culture produces genetically identical offspring from a mother plant. The plants produced in this way can be considered identical twins. By contrast, offspring produced from seeds are genetically variable, like siblings.The Cannabis tissue culture propagation is desirable as it generates many more (4 x +) offspring from the same mother plant as conventional cloning. Fewer mothers are needed, saving room, additional offshoot from a particular parent plant leads to having more inherently uniform batches which is vital for developing unvarying biological profiles in the harvested plants.Along with this, plants produced through tissue culture are free of pests and diseases and thus more vigorous and productive. This results in higher harvests, reduced cost per product, and increased profit margins.And these plants have gone through the early growth period that eliminates molds, bacteria and pests which may be resident in the parent plant. This removes the risk of passing on infestations or contaminations between cycles.In November 2017, it was reported that the firm had exceeded the October gross revenue projection of $500K from the sale of premium flower by 2%. Gross sales projections for the month of November are also trending in this direction.The GB Sciences cultivation facility has 180 active flower lights for plant cultivation and grows in a clean room-like environment. The industry standard yield is approximately one and one-half (1.5) pounds yield per flower light (of cured, untrimmed flower). GB Sciences yield is about three pounds of yield per flower light.The COO Kevin Kuethe explained that the firm’s state-of-the-art modern growing facility and techniques help to supportcreate and control the growing environment. With that environment, the growers bring a deep experience and understanding of the plant. The combination of a state-of-the-art precision growing environment and having a dedicated and harmonious team operate that environment, enables GBLX to consistently produce yields that are double the industry average. Financial PerformanceBetween 2016 and 2017, the firm has increased its assets 5.5 times signifying the massive investment made within the last year.Its liquidity has also been boosted in a similar manner with non-current assets, with cash & short term assets rising from $35,000 to $2.69 million within a year.Cost of sales have also increased to $415,979 from $177,000 in the last year. It is expected that revenues for 2017 will be above the projected estimates.ConclusionGBLX is a sound organization with a management that is willing to ensure that it keeps up with recent technology become a market company.For the full story, check out our complete coverage on GBLX.We will be updating our subscribers as soon as we know more. For the latest updates on GBLX, sign up below!Disclosure: We have no position in GBLX and have not been compensated for this article.