Cannabis Science Inc (OTCMKTS:CBIS) was one of the original pot stocks that lit up the bb’s and made spectacular gains for investors. Since those heady days however the stock continues to be in steep decline recently dropping below $0.05 support.
Like many in the sector the Company has failed to book significant revenues and has suffered extreme dilution in recent years that has stifled the stock’s ability to move.
Cannabis Science Inc (OTCMKTS:CBIS) takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate.
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:
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.”
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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,”
He continued “The drug development and contemplated growth programs that are underway strongly suggest a path of events and milestones of immense proportions,” said Mr. Wallace. “The multitude of projects the Company has underway is spellbinding to say the least, categorizing and creating a timeline is the only way to stay adequately informed. It is astounding the amount of work this Company has put in over the years to get to this point, and it inspires me to join an organization with that level of commitment.”
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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.
CBIS needs to find a bottom before it can embark on a significant reversal; after all CBIS is one of the original pot stocks that investors love to flock to when the sector heats up evidenced by no less than 3 spectacular runs in recent years. We will be updating on CBIS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CBIS.
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Disclosure: we hold no position in CBIS either long or short and we have not been compensated for this article.