Cannabis Science Inc. (OTCMKTS:CBIS) Slowly Fades To Red
Although Cannabis Science Inc. (OTCMKTS:CBIS) has been one of the well liked pot stocks on the market ever since the Green Rush started, truth be told – the company’s achievements so far have been mediocre.
In spite of all the evidence to the contrary, there are quite a few pot-stock enthusiasts that were cheering CBIS until very recently. A whole lot of people were getting hyped up about the company’s possibilities, in spite of the fact that CBIS hasn’t really done anything impressive so far. And if you think that statement is too harsh – check out CBIS‘s latest financial report.
Said filing hit the web on Nov 19, 2014 and caused a lot of loyal marijuana stock enthusiasts a lot of grief. Suffice to say, the situation it showed was pretty grim:
- Cash on hand – $443 thousand
- Total current assets – $782 thousand
- Total current liabilities – $4.1 million
- NO REVENUES
- Quarterly net loss – $675 thousand
Under these circumstances, it is not really surprising that even the news that CBIS will be acquiring “production farms with a combined total of 51 acres” was not enough to convince investors that the company is actually going anywhere. And, truth be told, this assessment may not turn out to be inaccurate.
One thing is certain – if CBIS doesn’t come up with something more convincing than what it has already given investors, its slide is likely to continue for a while yet.
