Rising India Inc (OTCMKTS:RSII) Remains In the Lead for Cannabis Production

Rising India Inc (OTCMKTS:RSII) is a stock with real potential. Although recently, its price has suffered a major dip, the outlook on the firm’s future remains bright. This has been aided by the release of some of its newest products.In this piece, we provide details of the company and what is expected of the firm going forward. Take a look at the stock’s price movement: RSSI Daily ChartCompany ProfileRising India, Inc. was established in 2007 and its head office is located in Tustin, California. The firm provides finance to numerous animation production projects while some of its business involves the development of senior living communities. The company's range includes assisted and independent living, memory center communities. Its senior hubs deliver services, apartment homes, and activities for inhabitants.Rising India Inc. carries out some of its operations through Rising Biosciences, Inc, which.is a research and development firm which engages in the development of oral and topical cannabis and non-cannabis based pharmaceuticals using stringent standards created by industry for pharmaceutical compounding.For more information on the company, check out our previous post here.Recent DevelopmentsJust a few days ago, the firm announced that it has released its short-term initiatives to accelerate its development in order to accomplish its strategy of maximizing shareholder wealth.Along with this, the firm also reported that it would be launching its RBS0238 CLINICAL PEPTIDE SERUM in the second quarter. Leadership revealed their excitement towards the news that after successful discussions with the manufacturer for its clinical strength peptide serum, the firm would officially be going into the production phase of the product line and put it on sale, available for purchase and consumption by the public by the end of April or start of May. This is likely to translate to a major revenue boost for the company.In line with this, the firm has remained in communication with the Food and Drug Administration on its testing procedures for the TSW pain cream as the agency continues to progress to a point close to completion.Recently, the firm hired a seasoned chemist to serve in the position of Chief in-house Chemist at the firm’s laboratory in Ohio.According to Arthur Hall, Chief Operating Officer of Rising India, the newly hired Chief Chemist is expected to go to Florida in order to train with the rest of the staff on the firm’s protocol and procedures. The firm’s leadership announced they are thrilled to have secured a Chemist with such amount of skill and experience at this level which will greatly enhance not only the firm’s research and development unit on new product ideas along with staff expertise in all of Rising India’s locations.In line with this, the firm recently acquired some analytical equipment which will enable it to carry out on-site developmental testing rather than the expensive and timely process of sending to an external laboratory. The equipment is already paid for and planned to be set up as soon as possible.The firm also provided details on the expansion and have gone into serious contract talks with two California processors and producers. One of these producers also has its facilities and operations based in Arizona for the purpose producing Cannophen™ and TSW pain cream using cannabinoids or THC. The producer is required to extract the cannabinoids straight from the flower along with processes while manufacturing the MMJ merchandise. It is expected that will cause a short-term multiplier relating to their overall operations and possible revenues.Financial PerformanceFor 2016, revenue amounted to $0.17 million, its first record of revenue from as far back as 2013. It is expected that in years to come, the firm will record higher sales in future periodsIn the same period, cost of sales rose to $40,000, indicating that the firm has only recently resumed its sales operations. The firm is expected to have the cost of sales grow along with revenue in its first few years. It is also a regular trend for developing companies to be unable to generate revenues while still incurring costs.Hence, gross profit for the financial year was $0.13 million, up from nil in the previous period. The trend of improved results continued all the way to selling, general and admin expenses which rose by a massive 83% to $0.1 million in the period.The net loss from operations and net loss amounted to $0.14 million and $0.62 million respectively, with interest the only additional expense for the period.ConclusionRSII has a bright future, however, investors and analysts are eager to see this lead to positive financial results.Disclosure: We have no position in RSII and have not been compensated for this article.