Ok. In full disclosure I owned a sizable position of Cannabix around 12 cents. I made a nice profit, sold - and bougjht Lifeloc over time with buys between 7 to 10 dollars. The reason I sold Cannabix is due to their lack of revenue, and the fact that all of their eggs are in one basket. They will have to issue shares to remain in business until they have a marketable product - which may be some time. Lifeloc is sustainable without a marijuana breathalyzer - although it may now trade along with the "marijuana stocks" due to the nature of interest in the company due to it's quest in commercializing a marijuana breathalyzer.
One thing that Cannabix has on their side is they have licensed the University of Florida's FAIMS Technology Patent for a marijuana breathalyzer. Now, if you want to dive a little deeper, a company called Breathtec, which is publicly traded, holds an option to acquire the key University of Florida patent U.S. 8,237,118 entitled “Partial Ovoidal FAIMS Electrode.
Now, it was a no brainer that Cannabix was headed for a downturn. How low will it go ...? Not sure, but my guess is an offering is near, with pricing between 25 to 35 cents per share. Stock prices generally drop slightly below offering prices, so If there is no major news for Cannabix, It could realistically see another 10 cent drop in the near future.
As far as Breathtec, it's on my radar - along with about 15 other marjuana stocks, but I do not hold any position in it, and never have.
I have sold off a portion of my LCTC. My father always told me that pigs get fat, and hogs get slaughtered - so I'n being a bit of pig, and took a near triple on 2/3 of my Lifeloc investment. I still have 1/3 of my initial investment in Lifeloc - and want to see it grow. I am also diversifying my investments in the madrijuana sector, as I have been fortunate with my investments in both Lifeloc and Cannabix. An area of interest I have is in laboratory testing of marijuana - kind of quality control before it hits the street. People smoking pot tainted with pesticides and other chemical agents is no good.
So, people may say I have been bashing Cannabix because I sold my position and want to see it drop so I can buy back in. The reality is, I sold Cannabix because I saw the market cap reach a price where I felt the stock was way overpriced for a speculative play with no revenue. Will I buy it back ...? Maybe . Is Lifeloc overpriced...? Maybe a little in my opinion. I still feel it's the safest investment as far as a breathalyzer goes.
Don't be a hog. Diversify. The marijuana market is going to be huge in the US and Canada, but there is going to be setbacks - political, legal, financial, etc... Just try to be on the right side of the trade at the right time.
Best of luck.
AI
