CannaVEST Corp (OTCMKTS:CANV) Reaches A New Low

[[tagnumber 0]][[tagnumber 1]]The performance of CannaVEST Corp (OTCMKTS:CANV) throughout 2014 was quite depressing. The company stock reached prices of $200 per share before going on a steep slide that obliterated all the gains that it had made during the medical marijuana hype from the beginning of the year.[[tagnumber 2]] [[tagnumber 0]]This year started a bit better, and [[tagnumber 4]]CANV[[tagnumber 5]] was reaching for the $4.50 per share mark in January. Unfortunately, after the initial interest and high volumes from mid–January, the ticker became less attractive and started to slide with a lot less shares being traded on a daily basis.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The decline might be attributed to the lack of regular news from the company as we saw that a press release from the beginning of April was enough to provide for a recent run that ended at $2.75. It seems, however, that the numbers contained in [[tagnumber 4]]CANV‘s[[tagnumber 5]] annual report, that was filed a few days earlier, took its toll and sent the ticker sliding in a downward direction once again.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $2.3 million[[tagnumber 17]] [[tagnumber 16]]current assets: $16.8 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $664 thousand[[tagnumber 17]] [[tagnumber 16]]revenues: $10.19 million[[tagnumber 17]] [[tagnumber 16]]operating loss: $8.55 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those are some impressive digits when you compare them to other entities residing in the OTC realm, but we see that while the revenues have grown by around 5 times, the expenses have also went up roughly that much, mainly due to selling, general and administrative (SG&A) expenses.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Around $7.85 million of the $13.35 million of SG&A expenses were stock–based and we reckon that the shares were heavily discounted, considering a particular offer from the beginning of this year about which we wrote in our previous article.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]With no significant news lately we see that [[tagnumber 4]]CANV [[tagnumber 5]]has declined even steeper in recent sessions. Yesterday the ticker lost another 15.56% and closed the day at a record low of $1.52. A total of 152 thousand shares changed their owners and generated $241 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today seems to have started a bit better and [[tagnumber 4]]CANV [[tagnumber 5]]is, so far, 3.29% in the green. Will it manage to stop its descent is for time to tell, but you should always remember to do your due diligence before making any moves.[[tagnumber 2]]