Before yesterday's 8-K filing after the close, I would have thought that maybe CANV would do okay with the new advisor and the upcoming investor conferences.
But the 8-K shows that with the $2 restricted share offering all but dead -- due to the current $1.50 share price -- management has resorted to issuing convertible debt:
That new debt will enable the company to buy the contracted raw CBD oil this coming October, but it's likely going to cause a much larger increase in the number of outstanding shares.