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Email Marketing Manager Salary:"EXTRA" Money"??
https://www.salary.com/research/salary/posting/email-marketing-manager-salary
https://www.indeed.com/cmp/Cv-Sciences,-Inc-1/jobs?clearPrefilter=1#cmp-skip-header-desktop
GOOD SIGN ??
Charlotte's Web's Option with Stanley Brothers USA
That Option Purchase Agreement with Stanley Brothers USA was mentioned favorably in a discussion of BAT's November investment in Charlotte's Web:
CVSciences: As Imagined vs The Facts
CVSciences' "Manufacturing"? Look on CV Websites.
Don't rely on https://betterhealthmarket.com for information on CV Sciences' manufacturing practices.
Go to the following:
https://www.pluscbdoil.com/certificates-of-analysis.html
and
https://www.cvsciences.com/certificates-of-analysis.html
Look at the Certificates of Analysis (COA) for EVERY product sold by CV Sciences. EACH and EVERY PRODUCT'S COA contains the following:
CVSciences' CONTRACT_MANUFACTURERS have cGMP_Certification, NOT CVSciences
Regarding a potential sale of CV Sciences, OnYourMarks stated:
CV Sciences - "OUTSOURCED" !!
The CBD gold rush is over. . . .for CV Sciences
ANSWER: IT DOESN'T.
SO HERE'S WHAT HAPPENED:
CV Sciences' DECLINE to OBLIVION
It's NOT "Glass_Half_Full" vs "Glass_Half_Empty"
CV Sciences' performance has been decaying for years:
"The CBD gold rush is over" . . . for CV Sciences.
FULL text: The CBD gold rush is over.
(And that's a great thing for consumers.)
Bharat Ayyar, GM at Sunsoil, on Linkedin July 14, 2022
Bharat Ayyar
GM at Sunsoil
Published Jul 14, 2022
Disclaimer: I am not a financial advisor. Nothing contained in this post should be construed as investment advice.
CV Sciences ($CVSI), the company behind leading brand +PlusCBD, had a meteoric rise in 2018.
The U.S. Farm Bill had just passed, legalizing hemp farming across the country. Research firms projected that the CBD industry would grow to over $20 billion in annual revenues.
CV Sciences was at the forefront, widely acknowledged to be one of the top two companies in the CBD industry (the other being Charlotte's Web). At one point in 2019, the company's market capitalization reached $575 million.
A lot has changed in three years.
The company's stock price is now down over 99% from its peak in 2019. Its market capitalization is just over $5 million.
Safe to say the gold rush is over?
Stock chart showing CVSI price down 99%
While the worst may be over for CV Sciences, the stock could easily go to zero.
And that'd be a great thing for consumers.
What Happened to CV Sciences?
CV Sciences used to be a leading cannabis company. At one point in 2019, they had nearly $16M in cash.
They're down to ~$2.5M now. (The uptick last quarter was from raising $1.4M from investors via convertible notes.)
Chart: CV Sciences cash by quarter
A low cash balance alone is not a death sentence. Unfortunately, the business isn't looking great either.
Revenues have declined substantially (even prior to COVID).
Chart: CV Sciences revenue by quarter
To make matters worse, profitability has declined big-time, too. (They're likely doing heavy discounting to keep revenues afloat.)
CVSI used to have gross profit margins above 70%. Last quarter, they were just 26%.
Chart: CV Sciences gross profit by quarter
It's no surprise then that CV Sciences has been running at a loss for several quarters, including a $2.2 million net loss in Q1 of this year.
(The loss would have been larger, but the company recognized a $2M expense reduction, courtesy of federal COVID relief.)
Chart: CV Sciences net income by quarter
To be fair, slow growth is not unique to +PlusCBD.
It's a problem across the CBD industry and major players, including Sunsoil (where I work).
No alt text provided for this image
Overcrowded market. Pandemic retail downturn. Uncertain regulatory environment for cannabis. The industry has been hit with a number of obstacles.
But at least if growth isn't fully in their control, maybe they could improve the bottom line?
Unfortunately, no. CV Sciences doesn't have any levers to pull—because they outsourced every meaningful part of their supply chain.
Hemp farming?
CBD extraction?
Product manufacturing?
Outsourced. Outsourced. Outsourced.
The CBD Industry's Problem
Slide from CV Sciences Investor presentation
For years, CVSI touted its capital-efficient, "asset-light" strategy. It was a pure marketing and distribution company, with little extra baggage.
In Q4 of 2019, equity analyst Pablo Zuanic asked the obvious question (edited for clarity):
[W]hen you say asset-light, I can interpret that in a different way. I would say asset-light means a lot of third-party involvement—less control of your supply chain.
So, how does being asset-light make you different from other CBD companies out there—there's a lot of them that outsource pretty much everything?
CV Science's core problem is the industry's core problem.
Today, there are thousands of brands, selling the same, white-labeled CBD oil at prices that 90% of people can't afford.
Put simply, everyone's selling the same, expensive crap. There's a complete lack of meaningful innovation.
When I say innovation, I don't mean flashy, new products. (I'm pretty sure we've put CBD in everything already.) I mean making quality CBD that's actually affordable.
Most CBD companies like to complain that FDA inaction has kept the market from reaching its potential. Few are focused on the bigger problem that's really containing the size of the market: high prices.
Taking 40mg of CBD daily costs $120/month from the average brand.
Who can afford that?
The Road Forward
Left with few options, CV Sciences has been raising prices on its products online (in-store prices are likely to follow suit). That's a dance that won't last forever. Consumers are smart. They'll find alternatives.
The company might live to fight another day—but the broader trend is clear. The excesses of the cannabis gold rush are being washed away.
The survivors will be the ones who meaningfully innovate: making higher-quality products that the mass market can afford.
That's a great thing for consumers, even if it doesn't bode well for CV Sciences.
By the way, my company Sunsoil makes organic CBD oil at half the price of "leading" brands like +PlusCBD. (We're also profitable.)
Not only that, but we're on a path to cut prices by 80% over the next 5 years. We see a future where quality CBD oil costs the same as Advil.
If you're a +PlusCBD customer (or a customer of any CBD brand) we'll give you $200 to switch to Sunsoil. (Yes, seriously.)
The SOURCE of that post:
Bharat Ayyar, GM at Sunsoil, on Linkedin July 14, 2022
That article contains a lot of pertinent graphics, not included in GE_Jim's post, and the article ends with the following, which was not copied in that post:
ANALYSTS' INTEREST in CV Sciences?
https://seekingalpha.com/article/4557530-cv-sciences-inc-cvsi-q3-2022-earnings-call-transcript
Perhaps CVSI's DECLINING PERFORMANCE/RELEVANCE might explain the lack of analysts' interest.
Only "SHARES OUTSTANDING" is increasing, i.e., DILUTION :
CV Sciences
STOCKHOLDER SHARES
REVENUES CASH EQUITY OUTSTANDING
( $M ) ( $M ) ( $M ) ( M )
2018
Q2 12.3 7.2 21.8 90.9
Q3 13.6 11.0 25.8 94.6
Q4 14.2 12.7 30.1 94.9
2019
Q1 14.9 13.6 30.9 98.5
Q2 16.9 15.7 34.3 98.7
Q3 12.6 14.2 33.2 98.8
Q4 9.4 9.6 29.1 99.4
2020
Q1 8.3 7.6 25.4 99.9
Q2 5.4 8.1 * 22.0 99.9
Q3 5.6 6.1 * 19.4 100.0
Q4 5.2 4.5 * 11.2 100.7
2021
Q1 4.8 5.7 * 12.0 106.8
Q2 5.1 3.0 * 10.0 108.5
Q3 5.1 1.7 * 11.1 109.9
Q4 5.0 1.4 * 3.5 112.5
^
Stockholder Equity
Reduced by ~70% in one quarter.
2022
Q1** 4.4 2.4 * 4.0 122.8
Q2** 4.1 1.1 * 1.9 140.0
Q3** 3.8 1.1 * 1.4 150.1
* INCLUDES PPP $2.9M "LOAN", i.e., FEDERAL CHARITY, forgiven in FY2021 Q3.
** INCLUDES $2.0M MORE FEDERAL CHARITY (Employee Retention Credit) under the CARES Act.
CV Sciences' DECLINE to OBLIVION CONTINUES
CV Sciences' FY2022Q3 10-Q
CVSI has been on a decline for years.
Only "SHARES OUTSTANDING" is increasing, i.e., DILUTION :
CV Sciences
STOCKHOLDER SHARES
REVENUES CASH EQUITY OUTSTANDING
( $M ) ( $M ) ( $M ) ( M )
2018
Q2 12.3 7.2 21.8 90.9
Q3 13.6 11.0 25.8 94.6
Q4 14.2 12.7 30.1 94.9
2019
Q1 14.9 13.6 30.9 98.5
Q2 16.9 15.7 34.3 98.7
Q3 12.6 14.2 33.2 98.8
Q4 9.4 9.6 29.1 99.4
2020
Q1 8.3 7.6 25.4 99.9
Q2 5.4 8.1 * 22.0 99.9
Q3 5.6 6.1 * 19.4 100.0
Q4 5.2 4.5 * 11.2 100.7
2021
Q1 4.8 5.7 * 12.0 106.8
Q2 5.1 3.0 * 10.0 108.5
Q3 5.1 1.7 * 11.1 109.9
Q4 5.0 1.4 * 3.5 112.5
^
Stockholder Equity
Reduced by ~70% in one quarter.
2022
Q1** 4.4 2.4 * 4.0 122.8
Q2** 4.1 1.1 * 1.9 140.0
Q3** 3.8 1.1 * 1.4 150.1
* INCLUDES PPP$2.9M "LOAN", i.e., FEDERAL CHARITY, forgiven in FY2021 Q3.
** Includes $2.0M MORE FEDERAL CHARITY (Employee Retention Credit) under the CARES Act.
That IS the list ELIGIBLE FOR SALE
https://ukcbdlist.com/#participants-list-1
NOTE (AGAIN): A search for CV Sciences CBD Products allowed for sale in UK yields ZERO, ZIP, NADA, . . . LOL.
ZERO CVSciences CBD Products Approved ForSale in UK
Here's a screenshot of the results of a search for CV Sciences products, "Validated" or NOT, for sale in the UK:
Here's a screenshot of the first few of the 31 Charlotte's Web CBD products "Validated" for sale in the UK:
Charlotte's Web CBD Products Approved in UK
https://data.food.gov.uk/cbd-products/products-list?search=charlotte+s+web&status=validated
Here's a screenshot of the first few of the 31 Charlotte's Web CBD products "Validated" for sale in the UK:
Here's a screenshot of the results of a search for CV Sciences products, "Validated" or NOT, for sale in the UK:
CV Sciences' DECLINE to OBLIVION
CV Sciences' FY2022Q2 10-Q
CVSI has been on a decline for years.
Only "SHARES OUTSTANDING" is increasing, i.e., DILUTION :
CV Sciences
STOCKHOLDER SHARES
REVENUES CASH EQUITY OUTSTANDING
( $M ) ( $M ) ( $M ) ( M )
2018
Q2 12.3 7.2 21.8 90.9
Q3 13.6 11.0 25.8 94.6
Q4 14.2 12.7 30.1 94.9
2019
Q1 14.9 13.6 30.9 98.5
Q2 16.9 15.7 34.3 98.7
Q3 12.6 14.2 33.2 98.8
Q4 9.4 9.6 29.1 99.4
2020
Q1 8.3 7.6 25.4 99.9
Q2 5.4 8.1 * 22.0 99.9
Q3 5.6 6.1 * 19.4 100.0
Q4 5.2 4.5 * 11.2 100.7
2021
Q1 4.8 5.7 * 12.0 106.8
Q2 5.1 3.0 * 10.0 108.5
Q3 5.1 1.7 * 11.1 109.9
Q4 5.0 1.4 * 3.5 112.5
^
Stockholder Equity
Reduced by ~70% in one quarter.
2022
Q1** 4.4 2.4 * 4.0 122.8
Q2** 4.1 1.1 * 1.9 140.0
* INCLUDES PPP$2.9M "LOAN", i.e., FEDERAL CHARITY, forgiven in FY2021 Q3.
** Includes $2.0M MORE FEDERAL CHARITY (Employee Retention Credit) under the CARES Act.
CV Sciences' DILUTION - Shares Outstanding Hyper-Growth
https://ycharts.com/companies/CVSI/shares_outstanding
https://www.otcmarkets.com/stock/Cvsi/security
MORE About Bill McCorkle:
Linked in
About McCorkle and StemImmune, Inc.
Yep. McCorkle's a real asset. I'm sure he'll help with FDA approvals and such. LOL.
"Old News" Previously Detailed in the 8-K
October 11 8-K
Darth, sorry for the redundant post.
I have my browser "locked down tight" so when I clicked on the link you provided, it didn't access the 8-K. I didn't realize the problem was mine so I searched for alternative links.
OOoooppps!!
Debt was INCREASED by $2Million, not "extinguished"
Read the 8-K 08/25/2022 Closing Date; Use of Proceeds in Exhibit 10.1 and Exhibit 10.2 SECURED PROMISSORY NOTE: CV Sciences nets $915K cash and a $2,000K debt.
That debt is to be paid using CARES Act receipts and weekly payments of $40K increasing to $56K after 8 weeks until the debt is paid (within 9 months) and with maximum legally-permitted default interest.
Given the terms of that Promissory Note and CV Sciences' financial and business conditions as of FY2022Q2 how long can further shareholder dilution be avoided?
And who is CV Sciences' "LENDER" for that debt?
It's Streeterville Capital (i.e., John M Fife).
Check out the following links:
1. https://www.google.com/search?q=%22SEC%22+%22fife%22
Screenshot from Page 1 of search results:
2. https://www.securitieslawyer101.com/2020/sec-says-toxic-funder-john-m-fife-is-an-unregistered-dealer/
The Bottom Line:
Read the 8-K 08/25/2022 Closing Date; Use of Proceeds in Exhibit 10.1 and Exhibit 10.2 SECURED PROMISSORY NOTE: CV Sciences nets $915K cash and a $2,000K debt.
That debt is to be paid using CARES Act receipts and weekly payments of $40K increasing to $56K after 8 weeks until the debt is paid (within 9 months) and with maximum legally-permitted default interest.
Given the terms of that Promissory Note and CV Sciences' financial and business conditions as of FY2022Q2 how long can further shareholder dilution be avoided?
CV Sciences' Lengthy Decline Accelerated in 2022Q2
CV Sciences' FY2022Q2 10-Q
CVSI has been on a decline for years.
Only "SHARES OUTSTANDING" is increasing, i.e., DILUTION :
CV Sciences
STOCKHOLDER SHARES
REVENUES CASH EQUITY OUTSTANDING
( $M ) ( $M ) ( $M ) ( M )
2018
Q2 12.3 7.2 21.8 90.9
Q3 13.6 11.0 25.8 94.6
Q4 14.2 12.7 30.1 94.9
2019
Q1 14.9 13.6 30.9 98.5
Q2 16.9 15.7 34.3 98.7
Q3 12.6 14.2 33.2 98.8
Q4 9.4 9.6 29.1 99.4
2020
Q1 8.3 7.6 25.4 99.9
Q2 5.4 8.1 * 22.0 99.9
Q3 5.6 6.1 * 19.4 100.0
Q4 5.2 4.5 * 11.2 100.7
2021
Q1 4.8 5.7 * 12.0 106.8
Q2 5.1 3.0 * 10.0 108.5
Q3 5.1 1.7 * 11.1 109.9
Q4 5.0 1.4 * 3.5 112.5
^
Stockholder Equity
Reduced by ~70% in one quarter.
2022
Q1** 4.4 2.4 * 4.0 122.8
Q2** 4.1 1.1 * 1.9 140.0
* INCLUDES PPP$2.9M "LOAN", i.e., FEDERAL CHARITY, forgiven in FY2021 Q3.
** Includes $2.0M MORE FEDERAL CHARITY (Employee Retention Credit) under the CARES Act.
Keep it REAL. LOL.
CHECK THIS:
BTW, as of June 21, CV Shares Outstanding had grown to 140M.
Re: "Distribution in Greater China Region"
[Believe me, it pains me to post this. I hope I'm being alarmist.]
Charlotte's Web Appoints Energy Hemp Biotechnology Ltd. for Distribution in the Greater China Region
Implication of the $0.04 Conversion Price:
Recall:
3,751,971 more shares issued at $0.04
8-K Filed 06/06/2022
Cannabidiol Dosage:This was discussed 12-28-2020
RECALL:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=160497497
Previously discussed, CVSciences: TOO LITTLE, TOO LATE
APIRx is WELL-AHEAD in the CBD+Nicotine Market
Recall:
and more Recent News:
of Specific Interest, relating to CV Sciences' often-touted but never-delivered CV-007, is APIRx's CanQuit: with "Relevant Patents" "Granted"
They have 4 business days