Cannabis Science Inc (OTCMKTS:CBIS) has seen a spike in volume and price off its $0.127 lows in recent trading. When CBIS heats up investors need to pay attention; the stock has a long history of spectacular moves up.
The move on CBIS comes after they announced last week that ”Dividend Payouts for Previous and Current Shareholders, a $15-25 Million Capital Raise for FDA and Other Clinical Drug Development Programs as Well as a Proposed NASDAQ Up Listing
On September 3 CBIS announced it has filed its preliminary Schedule 14C filing as the next steps to complete its dividend payout of the previously filed dividend share payout as filed with the S.E.C. on a Definitive Schedule 14C on August 18, 2011 and include all shareholders in on what the Company considers a landmark growth curve.
The Company has met the initial target of filing the preliminary statement with the new structure program by the end of August 2015 with no reverse split, with the main focus on increasing shareholder value for everyone involved. As planned the Company will apply for a unique trading symbol to accommodate a $15 – 25 million USD range financing it has been actively negotiating to accelerate all its drug development programs and expand its State-by-State initiatives. Once the financing has been successfully negotiated and closed the Company will formally pursue the contemplated up listing to NASDAQ.
Cannabis Science Inc (OTCMKTS:CBIS) works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on skin cancers, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
About 2 years ago Cannabis Science made a number of acquisitions in the cannabis sector that currently drive future growth. CBIS 2 most important drugs in development are:
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The CS-S/BCC-1 drug program was launched in 2011 due to the “apparent success in 4 skin cancer patients who have self-administered cannabinoid based extracts topically to their skin cancers. These patients have experienced shrinking and apparent eradication of their skin cancer lesions.”
The drug CS-TATI-1 aims to target patients with drug-resistant HIV strains. The earliest article I could find relating to the launch of this program was in June 5, 2012, where the company loosely described a mission to “explore the commercial development of Phyto cannabinoid-based therapeutics for drug resistant HIV infection.”
On March 31 CBIS announced it has entered into a one-year agreement with Derwin A. Wallace to provide financial and investor relations services for the Company. Mr. Wallace will focus on developing and expanding the Company’s financial communications with the institutional and retail investment communities and initiate coverage from research analysts through a comprehensive financial and investor relations program.
Mr Wallace remarked “I am committed to putting all of my financial and operational resources to work to help expedite company processes, and I am looking forward to speaking with our shareholders about the multiple drug development programs, product releases and patient education systems strategies in motion,”
Looking at CBIS and all its vast and varied operating divisions, one might think they are a revenue generating power house but you would be very wrong; in fact CBIS has very limited operations, with minimal revenues to date and the Company continues to burn cash every quarter. This unfortunate situation has led to continued massive dilution with CBIS share count more than tripling over the past 3 years.