Anastas Gegov

Cannabis Science Inc (OTCMKTS:CBIS) Attempting A Recovery

by Anastas Gegov April 27, 2015

After a spike in price in the first sessions of 2015 Cannabis Science Inc (OTCMKTS:CBIS, CBIS message board) has been sliding down the charts, obliterating more than 50% of its value and dropping to a 52-week low of $0.0336 on April 15.

 

After that the ticker has managed to stabilize around the $0.035 mark in anticipation of the annual report of the company, which was scheduled to be filed on the same day CBIS reached its 52-week low, but it came a little later. On April 21 we finally got to see what the company had to show in its balance sheet for 2014 and it wasn’t pretty.

 

  • cash: $10 thousand
  • current assets: $166 thousand
  • current liabilities: $3.95 million
  • revenues: $1,031
  • net loss: $16.88 million

 

Despite the fact that these numbers are far from rosy, CBIS somehow managed to stop its descent. Meanwhile, the company announced that they will be presenting at the 28th International Conference on Antiviral Research in Rome, Italy.

 

Strangely enough, the numbers contained in the annual report of the company didn’t manage to push CBIS further down, but instead, the stock is making a recovery. It finished last week with a 6.44% gain, at $0.038 while a total of 5.5 million shares changed their owners generating $203 thousand in daily dollar volume.

 

So far, this week has also started well for CBIS and the ticker is 6.05% as of the writing of this article. This, however, doesn’t mean that the company stock will continue pushing up without any new press releases so be sure to do your due diligence and weigh out the risks before making any investment decisions, especially when taking into consideration the insider selling and the millions of shares that were issued to directors of the company as bonuses about which we talked in our previous article

Comments 1

1. Guest
April 28, 2015, 08:00AM

Quotes They need to get back to at least .30 a share so I can unload mine or do something worth while that is going to make the share holders some money.

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