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After a long-term downtrend, Cannabis Science, Inc. (OTC:CBIS, CBIS message board) cut off the loss. Yesterday, the stock price jumped up 38.89%, and its traded volume hit 13 million shares. So, what's next today?
The massive trade has an absolutely reasonable explanation. Namely, the last news by the company.
Last Friday, CBIS reported that it was supporting House Minority Leader Nancy Pelosi D-San Francisco Historic Statement to President Obama supporting Medical Cannabis and the Fight for Patient Rights.
Apparently, the fight for the patient rights has inspired traders and CBIS grabbed the climb at once. Nevertheless, it's still too soon to predict how long the up move will resist. In any case, the positive reports on CBIS continue.
Cannabis Science, Inc. is claimed to be at the forefront of pharmaceutical grade medical marijuana research and development. During the past month, the company has been regularly releasing positive news on its business activities, though the stock price remained low for most of the time.
Meanwhile, on April 16 CBIS filed its delayed annual results, which however, were discouraging. The 10-K stated that since inception, the company has earned limited revenues of $90,107. During the fiscal year ended December 31, 2011 CBIS generated license revenues of $73,702, though the company had an accumulated deficit of $70,536,669.
Presently, the management claims that at this time, their ability to generate any significant revenues continues to be uncertain. Due to the huge losses, there is substantial doubt about the company's ability to continue as a going concern. Moreover, when CBIS is currently not in good short-term financial standing and is still waiting for an FDA approval of its first medical cannabis product.
News Hawk- Astonr420 420 MAGAZINE
Source: hotstocked.com
Author: Nelly Shishkova
Contact: About us
Website: Cannabis Science, Inc. (OTC:CBIS) Cut Off the Loss
The massive trade has an absolutely reasonable explanation. Namely, the last news by the company.
Last Friday, CBIS reported that it was supporting House Minority Leader Nancy Pelosi D-San Francisco Historic Statement to President Obama supporting Medical Cannabis and the Fight for Patient Rights.
Apparently, the fight for the patient rights has inspired traders and CBIS grabbed the climb at once. Nevertheless, it's still too soon to predict how long the up move will resist. In any case, the positive reports on CBIS continue.
Cannabis Science, Inc. is claimed to be at the forefront of pharmaceutical grade medical marijuana research and development. During the past month, the company has been regularly releasing positive news on its business activities, though the stock price remained low for most of the time.
Meanwhile, on April 16 CBIS filed its delayed annual results, which however, were discouraging. The 10-K stated that since inception, the company has earned limited revenues of $90,107. During the fiscal year ended December 31, 2011 CBIS generated license revenues of $73,702, though the company had an accumulated deficit of $70,536,669.
Presently, the management claims that at this time, their ability to generate any significant revenues continues to be uncertain. Due to the huge losses, there is substantial doubt about the company's ability to continue as a going concern. Moreover, when CBIS is currently not in good short-term financial standing and is still waiting for an FDA approval of its first medical cannabis product.
News Hawk- Astonr420 420 MAGAZINE
Source: hotstocked.com
Author: Nelly Shishkova
Contact: About us
Website: Cannabis Science, Inc. (OTC:CBIS) Cut Off the Loss
