Advanced Cannabis Solutions Inc (OTCBB:CANN) Keeps Sinking

[[tagnumber 0]][[tagnumber 1]]Advanced Cannabis Solutions Inc (OTCBB:CANN) is far away from the heights that it reached in the beginning of last year. The medical marijuana hype pushed the ticker as high as $48 per share, but things unfolded in an unpleasant way.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]One of the main reasons for the stock’s misfortune was a SEC investigation that led to [[tagnumber 6]]CANN[[tagnumber 7]] being traded in the grey market after a certain Mr. Stephen Calandrella bought more than 10% of the company’s stock without following the legal procedure.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After reaching $1 per share in the final days of 2014 we saw [[tagnumber 6]]CANN[[tagnumber 7]] make a comeback in January and reach a price of $8.37. Unfortunately, that price couldn’t be kept and the ticker began to slide once again.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, the report for the first quarter of the year was filed and the numbers contained in it were far less impressive than those we had previously seen.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 21]] [[tagnumber 22]]cash: $99 thousand[[tagnumber 23]] [[tagnumber 22]]current assets: $247 thousand[[tagnumber 23]] [[tagnumber 22]]current liabilities: $2.49 million[[tagnumber 23]] [[tagnumber 22]]quarterly revenues: $17 thousand[[tagnumber 23]] [[tagnumber 22]]quarterly net loss: $828 thousand[[tagnumber 23]] [[tagnumber 32]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]With these numbers it’s no wonder that [[tagnumber 6]]CANN[[tagnumber 7]] is still slipping down the charts. After all, the company has a market cap of over $30 million. Furthermore, there are no significant news recently that can push the ticker in the right direction.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The latest press release coming from [[tagnumber 6]]CANN[[tagnumber 7]] HQ is concerning a vote at the annual meeting of shareholders. It came yesterday when the company stock dropped a further 9.19% and closed the session at $2.125 with 61 thousand traded shares and a daily dollar volume of $134 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the high price of the company stock and the lack of news we can’t say that [[tagnumber 6]]CANN[[tagnumber 7]] isn’t a risky investment choice. In any case, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]