So, here is a rundown on the PR's to date this year for Canb. I have excluded the PR's for financials and board changes, since they are mandated with the SEC filings.
1/8 - acquisition of Pure Health
1/24 - announcement of Duramed subsidiary
1/31 - details on Duramed venture
2/21, 3/12 & 5/6 - updates on Duramed venture
2/27 - Purchase of Seven Chakras technology and proprietary data
6/12 - announcement of LOI for Hemp Depot, Cultivation and Processing with Mile High Labs and SHI Farms
7/22 - confirmation LOI for Hemp Depot was executed
8/5 - announcement of vending machines
3/12 & 9/5 - announced agreement with Marathon Rx and first order.
So, in summary that accomplished the following:
- Added an extremely lucrative Hemp cultivation and processing subsidiary (potential for many millions in revenue)
- Added an extremely lucrative durable medical goods subsidiary with SAM/TENS proprietary units containing CBD (generated $600k in revenue in the first few months of launch, expected to generate millions in revenue)
- Acquired Pure Leaf and Seven Chakras Product Lines and technology. This adds to the quarterly growth, which has seen revenues of $163k, $281k, $517k and now up to $633k for the last reported quarter.
- Product purchases by Marathon Rx, which is nice to see
- The vending machines, which could be interesting but it pales importance to the progress and success of the Hemp Depot and Duramed.
So, there have been approximately 170 trading days, and they have made 12 PR's related to five business and ventures. That amounts to about one announcement every three weeks.
Does that constitute "many PRs saying they are going in many different directions"? They have positioned themselves to be seed to sale. Sounds like a single direction to me, just plucking out the middle man.
FYI - The entire sector has been in free fall. CVSI is down 50% since March. Charlotte's Web has fared better, but they are stil down 33% since their high point in April. Canopy Growth and Tilray hit their 52 week lows, and are just starting to recover. The Cannabis ETF (THCX) also bottomed out at the end of August.
