United Cannabis Corp. (OTCBB:CNAB) continues to trade steadily at around $1 a share on moderate volume. The stock saw a spectacular rise earlier this year leading up to the elections as pot stocks heated up big time.
CNAB got everyone’s attention back in 2014 when it ran from pennies to well over $10 a share during the pot stock boom that swept up the bb’s. Now that pot stocks are heating up again Investors are giving CNAB another look.
United Cannabis Corp. (OTCBB:CNAB) was founded to provide leadership for the medical cannabis industry by offering patient-driven solutions intent on improving biomedical and pharmaceutical pursuits through the use of cannabis-based research, products and services.
United Cannabis Corp came into being in May 2014 after the name change from MySkin Inc to reflect the Company’s entry into the pot industry. The shell was originally formed as a California Corp on November 15, 2007. The Company changed their state of incorporation to Colorado when they changed their name to United Cannabis Corp.
The stars aligned for CNAB when the U.S. Justice Department recently said that Indian tribes can grow and sell marijuana on their lands as long as they follow the same federal conditions laid out for states that have legalized pot. This opened up the door for Indian Reservations to mount large scale grow operations and United Cannabis Corp along with FoxBarry Farms has emerged as the de facto consultant and business partner in this new emerging multi-billion dollar industry.
CNAB A.C.T. Now Program and patent-pending Prana Bio Nutrient Medicinals provide a comprehensive solution, designed to enable physicians and patients to design, implement and monitor effective therapy protocols.
CNAB focus is to develop and license proprietary cannabinoid products for a variety of therapeutics applications as well as license their proprietary software to physicians seeking cannabinoid-‐based products.
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In August CNAB said it has opened its first California-based Advanced Cannabinoid Therapy or “A.C.T.” Now Clinic in the Harborside Health Center (“Harborside”) at 1840 Embarcadero, in Oakland.
United Cannabis has granted Harborside Health Center, Oakland a license to sell its patent-pending Prana Bio Nutrient Medicinals line in its Oakland facility. The initial license covers a four-month term, with the expectation of establishing a long-term relationship following an initial trial period.
The A.C.T. Now Program is designed to help patients achieve the correct combination of Prana Bio Nutrient Medicinal products, based on their condition and to provide additional services including nursing support, nutritional guidelines and patient education. By achieving the correct cannabinoid ratios with accurate dosing, many patients have found positive results in treating chronic pain, opiate dependency, inflammation, PTSD, neuropathy, multiple sclerosis, fibromyalgia, Crohn’s, IBS, seizures, epilepsy, paralysis, autoimmune disorders, autism, tumors, HIV/AIDS, as well as many types of cancer.
On December 14 CNAB announced that Tony Verzura, the Company’s Chief Technology Officer will be appearing on VICELAND’s “Bong Appetite” this week, in an episode called Molecular Marijuana.
Bong Appetite airs on VICELAND on Wednesdays at 10:30 p.m., and showcases the host, Abdullah Saeed throwing elaborate cannabis dinner parties with notable chefs preparing multi-course infused meals. Check your local listings for channel information.
In this episode, the host, Abdullah learns to make high-end hash and invites chef Marcel Vigneron to prepare cannabutter-basted beef cheek, weed-smoked tuna, and potleaf juice dippin dots.
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Currently trading at a $53.46 million market valuation CNAB has minimal assets, small but growing revenues and growing short term debt. But this is an exciting story in small caps: CNAB has some exciting projects in the works and a growing shareholder base who believes this one goes higher We will be updating on CNAB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CNAB.
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Disclosure: we hold no position in CNAB either long or short and we have not been compensated for this article