Cannabis Science Inc (OTCMKTS:CBIS) Finishes The Week Red
[[tagnumber 0]][[tagnumber 1]]After some positive action in mid–August we saw Cannabis Science Inc (OTCMKTS:CBIS) go up and down the charts. Despite the rollercoaster–like movement of the company stock, the ticker did start the month with a massive loss compared to the heights it reached previously.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Then it began to climb. This was rather unusual, especially when considering all of the red flags surrounding the company. One of them was the horrible financials and the lack of a report for the second quarter of the year. Last Friday that report finally came and showed that the situation has gotten even worse.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $2,504[[tagnumber 11]] [[tagnumber 10]]current assets: $177,251[[tagnumber 11]] [[tagnumber 10]]current liabilities: $4,233,564[[tagnumber 11]] [[tagnumber 10]]quarterly revenues: ZERO[[tagnumber 11]] [[tagnumber 10]]quarterly net loss: 6,111,388[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Looking at these numbers we see that [[tagnumber 24]]CBIS’[[tagnumber 25]] financial situation is shaping up to be far worse than that of the previous year. While the company has stopped generating even the tiny revenues that it managed to record in the end of last year we see that the massive net loss is growing even bigger.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In light of this, the 10.66% drop that the ticker experienced in Friday’s session wasn’t that surprising. As the ticker fell for a close at $0.0285 we saw a total of 4.31 million shares change their owners and generate $130 thousand in daily dollar volume, the biggest in around three weeks of trading.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 24]]CBIS[[tagnumber 25]] is doing an effort to stabilize in today’s trading, but nothing is certain, especially when you consider the horrible financials and the massive dilution that the stock and its shareholders have endured. [[tagnumber 2]]
