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Do I honestly need to inform you of their revenue producing operations? Someone needs to do more DD IMHO.
Actually it takes a long time to create a medicine of quality to get through the FDA, especially if you are seeking fast track (which we are). We are also dealing with a highly sensitive situation politically, therefore timing is everything.
You are incorrect about no earnings.
You sir are misunderstanding the situation horribly imo. When you say things like, "you invested in a company that does very little but throw out news releases,never follows up has no regard for shareholders", it makes me think your DD on this company is severely lacking. 3 different acquisitions in the past couple months, all generating hundreds of thousands in revenues, does not seem to me like "very little". Also in regard to, "never follows up", you must be very new to this stock. Things have been going better than planned from their position a year ago. Never did I think they would have revenues until their FDA product, but now their idea of franchising dispensaries and growing medical marijuana is brilliant.
There we two PR's this week, thank you. Also extremely high volume from this news.
Ya I've looked at that as well and have lately assumed the numbers are listed incorrectly on the otcmarkets site. They hide their manipulation if you ask me. I do not know for sure though. Will look further into it.
20100729|CBIS|282501|593212|O 47.62%
TY for the information. This quaterly will look very nice if they settle debt as stated.
"Mr. Cowan added, "I am also very pleased to report that we are currently converting most of the company's debt into common equity. Adding revenues, eliminating debt, and clarifying the company's financial structure should help provide a higher per share price and valuation for the company. As a result of the debt conversions, the acquisition, and corporate expansions there are currently 65,570,574 shares outstanding and management expects to retire most of its debt by the end of June thereby eliminating a major source of risk. These developments should allow some of the larger funds and fund managers to invest substantially more in the company because of the reflection of our greater financial strength." May 24, 2010.
Yes, CBIS is the only publicly traded company currently growing and selling medical marijuana for profit.
Welcome! I couldn't agree more.
Cannabis Science Grows into Medical Cannabis Leader
California's Prop 19 Passing the Key?
As many outside the Golden State have heard, legalization of Cannabis is making an appearance on this year's mid-term ballot. Pot heads everywhere are rejoicing as the legalization of cannabis in a place like California sets precedent for the nationwide legalization of cannabis.
From taxcannabis.org the law on the ballot; Prop 19; states that the state of California will be able to "control cannabis like alcohol: allow adults 21 and older in California to possess up to one ounce of cannabis," "give the state and local governments the ability to tax the sale of cannabis to adults 21and older," and, of course, "generate billions of dollars in revenue to fund what matters most in California: jobs, healthcare, public safety, state parks, roads, transportation, and more." all that sounds real good and California sure could use a shot in the arm of something; the industry and job market in southern California where I lived twice over the last three years is bleak. many people who don't live in California don't know this but cannabis is already legal in California. All you need is a doctors signature and you can buy all the pot you want. One of my good friends in California told me that he told his doctor "he was depressed;" another friend of mine said "he couldn't sleep." Apparently there are even certain doctors you should go to so that you don't get any pushback; pot doctors.
Regardless having cannabis legalized in California would be a boon for everyone. One company who's counting on it is the pharmaceutical grade medical marijuana research and development company Cannabis Science Inc. I read a bit in marketwatch.com about Cannabis Science and they appear to be frothing at the mouth.
In response to a separate issue about Veterans Affairs latest position that veterans regardless of state should be allowed to procure medical marijuana, Dr. Robert Melamede, CEO and president of Cannabis Science says, "We believe it is inappropriate that our veterans have access to cannabis based medicines in some states while others are denied their medicines because their states have not yet approved medical marijuana. Cannabis Science will remedy this situation by taking our cannabis-based products through the FDA process for nationwide distribution. This way all Americans will have access to a safe and effective FDA approved medicine regardless of which state they live in. We believe that the new Federal policies are not only a validation of our decision to focus on helping disabled vets, but also an implicit recognition of the need to reschedule cannabis so that cannabis medicines will have a wider medical availability. After all, cannabis medicines are far safer than aspirin, acetaminophen, and most other OTC drugs that kill thousands of Americans every year. There is no effective lethal dose for cannabis."
The craftsmanship in the doctors statement is a masterstroke; one they've likely been working on for some time now. Still, legalization of medical marijuana in all states and legalization of a single ounce of marijuana in California brings to mind the repercussions. No longer will marijuana be a mom and pop home operation; why would you buy a questionable dime bag from your local street dealer when you could go in and get packaged, tested, and approved government issue marijuana in your 7-11? One possible repercussion from Prop 19 in California and the broad medical legalization could be the mom and pop operations release stronger crops to keep clients with potentially harmful effects.
We should take heed before we try and drive this perfectly complacent street drug and home based business out from the shadows and into the fluorescent light of a Wal-Mart day.
http://www.associatedcontent.com/article/5627932/cannabis_science_grows_into_medical.html?cat=5
Nice Dr. Bob reference. "The scientific community is already mounting a substantial case on the money markets, with well known Ph.D Dr Robert Melamede's 'Cannabis Science Inc.' buying up medical cannabis grow operations in Colorado and marketing its cannabis extract in states with medical marijuana programs"(http://pr.cannazine.co.uk/201007291299/green/eco-news/cannabis-seeds-in-the-uk.html).
Last three days of short info.
20100728|CBIS|814158|1641995|O 49.58%
20100727|CBIS|902311|1961966|O 45.99%
20100726|CBIS|471773|816399|O 57.79%
Welcome aboard! Thanks for your input
Ya that is what I was thinking. Hopefully the potential revenue numbers from the recent acquisition. And ya CBIS is by far the best company in this sector IMHO. It will be interesting to see if we actually hit $10 way down the road, I could see some splits happening once the revenue starts pouring in.
No they cannot. We just made quite the turnaround for the day!
Ah good to see you around again. That was Richard Cowan, he is kind of a BAMF imho. He received his B.A. in economics from Yale and was the former executive director for NORML (National Organization for the Reform of Marijuana Laws). Oh and he is 70 :P
Yaa its quite obvious when they start playing with it, we shall make them pay though.
Welcome to the board! Deja Vu?
There was news yesterday after the bell that is stickied at the top. They have also had a couple acquisitions in the last couple months that are worth millions.
CBIS 600k+ volume +16.88%
Float: ~20 million
CBIS 600k+ volume +16.88%
Float: ~20 million
Lets see how long these .08's can last imo
Really taking off now! Time to buckle up!
5 minutes, 200k+ volume, +3.90%. Lookinggg good!
I can feel the buzzzz
My boat is fully loaded :)
haha, get em while they are hot!
I think so too
probably
CBIS- Keep it on your radar.
News today after bell: http://www.tradingmarkets.com/news/press-release/cbis_cannabis-science-comments-on-ny-times-article-regarding-major-support-from-veterans-affairs-for-medi-1066141.html
Chart:
CBIS- Keep it on your radar.
News today after bell: http://www.tradingmarkets.com/news/press-release/cbis_cannabis-science-comments-on-ny-times-article-regarding-major-support-from-veterans-affairs-for-medi-1066141.html
Chart:
CBIS- Keep it on your radar.
News today after bell: http://www.tradingmarkets.com/news/press-release/cbis_cannabis-science-comments-on-ny-times-article-regarding-major-support-from-veterans-affairs-for-medi-1066141.html
Chart:
CBIS- Keep it on your radar.
News today after bell: http://www.tradingmarkets.com/news/press-release/cbis_cannabis-science-comments-on-ny-times-article-regarding-major-support-from-veterans-affairs-for-medi-1066141.html
Chart:
7/26/2010 Cannabis Science Comments on NY Times Article Regarding Major Support From Veterans Affairs for Medical Marijuana; Cannabis Science Hails the New Veterans Affairs Policies on Medical Marijuana for Disabled Vets as Validation of Company's FDA Focus on Helping Veterans With PTSD and Other Critical Illnesses
COLORADO SPRINGS, Colo., Jul 26, 2010 (GlobeNewswire via COMTEX) -- Cannabis Science, Inc. (OTCBB:CBIS), a pioneering U.S. biotech company developing pharmaceutical cannabis products, is hailing the Veterans Affairs' new policies on medical marijuana for disabled vets as a triumph of science and compassion.
On Friday The New York Times reported, "Under department rules, veterans can be denied pain medications if they are found to be using illegal drugs. Until now, the department had no written exception for medical marijuana. This has led many patients to distrust their doctors, veterans say. With doctors and patients pressing the veterans department for formal guidance, agency officials began drafting a policy last fall."
According to a letter issued by the U.S. Department of Veteran Affairs, Under Secretary of Health Robert Petzel, M.D. "a patient's use of medical cannabis is not sufficient cause to deny him or her access to prescribed pain medications in a Veterans Affairs facility" -- however, these new rules apply only in states with medical marijuana laws.
The letter to Michael Krawitz, administrator for the group Veterans for Medical Marijuana Access, states: "If a Veteran obtains and uses medical marijuana in a manner consistent with state law, testing positive for marijuana would not preclude the Veteran from receiving opioids for pain management in a Department of Veterans Affairs (VA) facility. ... Standard pain management agreements should draw a clear distinction between the use of illegal drugs, and legal medical marijuana."
Krawitz had contacted the agency after hearing several complaints from veterans who had been denied treatment at VA facilities because of their state-authorized use of medical cannabis.
Cannabis Science President and CEO, Dr. Robert Melamede, PhD, commented, "We see this announcement as a validation of our strategy of focusing on helping disabled vets suffering from PTSD, chronic pain, and other problems. Nonetheless, it is shocking to think that disabled veterans in states without medical marijuana laws can still be denied 'access to prescribed pain medications in a Veterans Affairs facility.' That is tantamount to torture and good medicine and basic human decency do not change from state to state."
Richard Cowan, Cannabis Science CFO, added, "We are still sacrificing real war heroes to satisfy the blood lust of the cowardly drug warriors. Those who fought for our freedom should not have to move to another state to get life saving medicine."
On March 31 Cannabis Science issued a press release calling for public support for vets after the New York Times reported that VA Doctors are prohibited from "recommending" cannabis for Post Traumatic Stress Disorder (PTSD). Also, Cannabis Science has previously reported that Dr. Mitch Earleywine, PhD. of the State University of New York (Albany) has surveyed over 1,300 veterans and others who find cannabis very helpful with PTSD.
On May 20th, Cannabis Science issued another press release reporting that a widely-prescribed medication has been linked to both suicides and sudden death among veterans suffering from PTSD.
According to an article by Martha Rosenberg originally published on Alternet.org and published in March on NewsBlaze.com reported that at least 87 military men have died in the past six years while prescribed Seroquel and similar drugs. http://newsblaze.com/story/20100324080950rose.nb/topstory.html
Rosenberg reported, "Death certificates and other records collected by veteran family members suggest more than 100 similar deaths among Iraq and Afghanistan combat vets and other military personnel, many on PTSD cocktails with Seroquel and other antipsychotics, antidepressants, mood stabilizers, sleep inducers and pain and seizure medications."
Dr. Melamede commented, "Of course, after more than 5,000 years of use, cannabis has not been shown to have caused a single death, and it is now widely -- but illegally -- used by veterans and others with PTSD as we have reported. It is shameful that those who deserve the best treatment available are being denied access to cannabis while they are given a cocktail of powerful drugs that seems to be killing them."
About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of pharmaceutical grade medical marijuana research and development. The Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. In sum, we are dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance.
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Cannabis Science, Inc.
By Staff
CONTACT: CONTACT: Cannabis Science Inc.
Investor Relations
Mark J. Friedman
1.877.431.CBIS (2247)
Dr. Robert J. Melamede, President & CEO
1-888-889-0888
info@cannabisscience.com
www.cannabisscience.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Business Services
SUBJECT CODE: HEALTH
PHARMACEUTICALS
Health
Looks like we are going to close with a great day! Looks like the shorts are withdrawing as well.
Anything below .20 is going to be wonderful long term, the pennies were a gift from the shorts :).