Cannabis Science (OTC PINK: CBIS) gave investors the opportunity for a 17% gain on Friday after CBIS released news they received clearance by the U.S. Federal Government to receive U.S. Federal Government contracts.
On Friday, CBIS traded almost three times its average volume ending the day with a volume of 28,062,900 shares.
CBIS investors appear to be excited about this recent news since the clearance has now made CBIS eligible to receive its slice of the $192 billion in U.S. Federal Government contracts that are awarded annually.
The stock has been sloping downward since a recent run-up in April, but it continues to hold above the 200 Day Moving Average and could be approaching the 50 Day Moving Average.
A potential MACD crossover could be a bullish sign that CBIS is beginning to curl and investors should begin taking a closer look at this cannabis play.
Cannabis Science (OTC PINK: CBIS) Overview
Cannabis Science (OTC PINK: CBIS) alleviates suffering and promotes health through cannabinoid science.
A pioneering biotech company, CBIS creates cannabinoid-based extract formulations for various medical conditions, including more than 8 different types of cancer.
Each formulation has revenue and earnings potential in the hundreds of millions of dollars based on the current global pharmaceutical industry.
The potential revenue and earnings are combined with additional profit centers including an educational model, nutraceutical products, and a strategic partnership with MedBox® Solutions.
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.
Their initial focus is on skin cancers, HIV/AIDS, and neurological conditions, and they are proceeding with the research and development of their own proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
Recent CBIS Milestones
CBIS has been focused on expanding production and R&D efforts as well as seeking new investment capital to fund operations:
- May 2017 – Releases first test batch of cannabinoid-based suppositories for self-medicating patients (see news release)
- May 2017 – Executives deliver keynote at the Global Health Catalyst Summit (see news release)
- April 2017 – Selects influential Southern California financial firm to lead proposed 25 million USD expansion capital investment effort (see news release)
- April 2017 – Announces plans to acquire two medical marijuana dispensaries in Los Angeles (see news release)
- April 2017 – Announces acceleration of its industrial hemp grow initiatives (see news release)
CBIS Management Team
Cannabis Science is led by an experienced management team with deep knowledge in cannabis-related product development and public company corporate development.
Raymond C. Dabney
President & CEO, Co-Founder and Director
Mr. Raymond C. Dabney, President & CEO, brings 25 years of experience in corporate finance, corporate structure, corporate communications, sales and marketing for public companies. Mr. Dabney has significant experience in public and private venture capital, early stage equity/debt financings and regulatory compliance.
Allen A. Herman, M.B., Ch.B., Ph.D.
Chief Medical Officer
Dr. Allen Herman is an epidemiologist and public health physician. Dr. Herman has extensive experience in developing and managing epidemiologic and public health research projects, and he is adept at secondary data analysis.
Benjamin C.K. Tam
CFO and Director
Benjamin has been assisting the filing of financial reports of Cannabis Science since December 2015. Previously, he was a contract controller for a chain of grocery stores until May 2013. Before that, he served as chief financial officer of Ever88 Entertainment N.V. from 2010 to 2013, chief financial officer of CGTV Games Limited from 2006 to 2010, chief financial officer of Digifonica Canada Limited and Molaris Corp. from 2005 to 2006, public accountant and consultant from 1996 to 2005, chief financial officer/chief executive officer and director of Darius Technology Ltd from 1987 to 1996, and vice-president of finance and director of Bulldog Bag Ltd from 1978 to 1987.
President of European Operations and Director
Mr. Lap brings to the Company a unique combination of expertise in Dutch and greater European medical cannabis law and policy as well as in the areas of health care, IT security, law enforcement, and government relations. Mr. Lap has written numerous international papers and legislative initiatives regarding medical and non-medicinal cannabis laws and access throughout Europe.
Chief Operation Officer and Director
Robert Kane’s mission is transforming and leading the Medical Cannabis Industry into a viable investment alternative for all types of investors. Mr. Kane held the position of Director of Investor Relations for Medical Marijuana, Inc., the first ever publicly traded medical marijuana company. He also held the position of Chief Financial Officer for “Cannabiz Business University.”
Product & Marketing Specialist
Greta Gaines is a leading advocate on the reform of cannabinoid law, spending years becoming an authority while serving on the Board of Directors of the National Organization to Reform Marijuana Law (NORML); the Board of the NORML Women’s Alliance Foundation (as a Founding Member); and the Advisory Board of Patients Out of Time.
CBIS appears to be attracting more investor attention as it executes its business plan.
Their announcement about being able to receive U.S. Federal Government contracts should help them develop new business relationships for their cannabinoid-based products and services.
Disclosure: We have no position in CBIS and have not been compensated for this article.