CV Sciences Inc (CVSI)

[Gladys Thong]

CV Sciences' Lengthy Decline

As bad as CVSI's cash position of $1.4M is in itself, it's MUCH WORSE when viewed in the broader context of CV Sciences' overall decline as a viable business.

CV Sciences' Long Decline ACCELERATED in the last quarter.




CV Sciences' FY2021 10-K

CVSI has been on a decline for years. But in Q4 STOCKHOLDER EQUITY DROPPED NEARLY 70% .

Only "SHARES OUTSTANDING" is increasing, i.e., DILUTION :

 
                 CV Sciences 
  
                      STOCKHOLDER  SHARES 
      REVENUES   CASH   EQUITY   OUTSTANDING 
       ( $M )   ( $M )  ( $M )     ( M ) 
  
 2018 
  
 Q2     12.3      7.2     21.8     90.9  
 Q3     13.6     11.0     25.8     94.6 
 Q4     14.2     12.7     30.1     94.9 
  
 2019 
  
 Q1     14.9     13.6     30.9     98.5 
 Q2     16.9     15.7     34.3     98.7 
 Q3     12.6     14.2     33.2     98.8 
 Q4      9.4      9.6     29.1     99.4 
  
 2020 
  
 Q1      8.3      7.6     25.4     99.9 
 Q2      5.4      8.1 *   22.0     99.9 
 Q3      5.6      6.1 *   19.4    100.0 
 Q4      5.2      4.5 *   11.2    100.7 
  
  
 2021 
  
 Q1      4.8      5.7 *   12.0    106.8 
 Q2      5.1      3.0 *   10.0    108.5 
 Q3      5.1      1.7 *   11.1    109.9 
 Q4**    5.0      1.4      3.5    112.5 
                            ^ 
                            ^ 
                            ^ 
                     Stockholder Equity 
              Reduced by ~70% in one quarter. 
  
 *   INCLUDES    PPP$2.9M "LOAN", i.e., FEDERAL CHARITY, forgiven in FY2021 Q3. 
 **  Applied for $2.0M MORE FEDERAL CHARITY (Employee Retention Credit) under the CARES Act.

(Note 1.: Check out the April 15 DEF 14A: As of March 31, Shares Outstanding had grown to 122M with plans for STOCKHOLDER NULLIFICATION.

(Note 2.: As of May 02, Shares Outstanding had grown to 135M.)