CV Sciences Inc (CVSI)

[benjo]

some big DD developments from SEC lawsuit:

so as some you are aware, a couple years ago the CEO of CVSI (which was then called CannaVest) bought a supply chain from MJNA.

from what little i understand, the cost for the assets were 35 million dollars, the majority of which Mona paid for with CannaVest stock, which at the time was very illiquid, and through Mona's own admission, was "worth very little."

i guess Mona then went to claim that 35 million as assets on CANV's balance sheet for 3 straight quarters. then, suddenly, he valued it at 8 million dollars. Mona claimed he never intended to buy it for 35 million because that would've been insane, and instead thought he had purchased it for 8 million (or something). so either he's an idiot or something shady was going down.

either way, the SEC filed a lawsuit against him, and it's been pending ever since...

well, that pending lawsuit may be coming to an end:

https://docs.justia.com/cases/federal/district-courts/nevada/nvdce/2:2017cv01681/123601/34

according to the most recent filings on this case, the SEC is close to reaching a settlement and expects to provide an update by June 1.

after that...CVSI's closet skeletons will be a thing of the past.

...well, that doesn't include a few civil suits that are still pending against the company brought on by individuals. but they're not the damn SEC!