CV Sciences Inc (CVSI)

[Det_Robert_Thorne]

They would have to report huge 4Q/15 financials.

CANV is going to have to report 2015 financials that are well beyond anything they've reported so far in order to stop the slide caused by these waves of convertible notes.

If the $4M in 3Q/15 revenue hadn't included $2M of existing inventory sold to Medical Marijuana, Inc in what was probably a one-time deal, it would be something to build off of.

As it is, my guess is that 4Q/15 revenue was probably lower than that of 3Q/15, and they needed the cash from the convertible notes to finish paying the contract for the European hemp crops the company had committed to for the past couple of years. (You'll find info about these contracts in the filings).

Maybe they won't commit themselves large crop for another year, and so will be able to work down the inventory they've got on hand.

Trouble is, though, that even once this $510K tranche is covered, they've still got another one coming up in (IIRC) March, and then there's the remaining $4M that will begin to hit in April or May.

CannaVest management has really dug itself into a hole.

Maybe the only thing that will save the company is nationwide marijuana legalization and a change of business model, but many others will have the same idea.