CV Sciences Inc (CVSI)

[HopeSkeptic]

IR reply to audit issue: All sorry to cause angst this AM, but the word was in audit, so I took the opportunity to learn more and to DD. Thanks for (almost) everyone's post.

As I mentioned in my initial note and as Ania mentioned, I thought it read like a hiring issue due to rapid growth. And IR confirmed that in their reply. In addition, IR said: ".. auditors noting internal control weaknesses in the first year of a company reaching the market cap to have added requirements under Sarbanes Oxley are not uncommon;" He went on to say the auditors did not mention it to them again.

The CAO came on just days after the end of audit period, so some of this was just a technicality and caused no change in numbers. If he started a week earlier, the CAO hiring would have been noted as a remedy in this audit. But who starts a job over the holidays...

My takeaway on all this was our annoying 'friend' was trying to cause trouble of course, but I am glad I contacted CVSI and learned for myself.

CVSI tremendous growth caused a short term push of market cap ahead of staffing, was solved right away, and it did not disrupt any numbers.

Onward and upward...