Yeah....the shareholder deficit in CBIS exceeds $100 million now as CBIS is now losing about $1.2 million dollars per month.
If you examine CBIS's most recent Quarterly Report you can see that CBIS has total assets worth just $1,348,775 yet amazingly with 846,423,906 shares outstanding and a price per share of .07/share, CBIS has a current market cap of $59,249,673.
If you divide CBIS's market cap of $59,249,673 by its total assets of $1,348,775 you come up with 43.9......roughly 44.
Why traders think CBIS is worth 44X it's total assets is a real head scratcher. It's no different than placing a $44 dollar valuation on $1 dollars worth of assets. Why traders think $1 dollar worth of assets is worth $44 dollars is just plain goofy.....especially for a company that has revenues of $0 and one that has already burned through $100 million of invested capital, and one that is now losing over $1.2 million dollars per month.
It only illustrates that some assets are always mispriced based on irrational exuberance. And here with CBIS you have a company that has already blown through over $100 million dollars since inception, has very little assets, still has no revenue, and net losses exceed $1.2 million dollars per month.
Eventually this balloon will pop and it'll fall hard.
