How High Can General Cannabis Corp (OTCMKTS:CANN) Go?

[[tagnumber 0]][[tagnumber 1]]After quite some times in which the stock of General Cannabis Corp (OTCMKTS:CANN) was hovering around the 50 cent per share mark we finally saw it take a more profound upward direction in the end of last month and the daily volumes increased as well.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The ticker managed to regain quite a lot of the value it had lost over the course of last year, despite the rather unpleasant contents of its balance sheet. In the end of last month the company filed its financial report for the fiscal 2015 and it contained the following numbers of prime interest.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $59 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $246 thousand[[tagnumber 11]] [[tagnumber 10]]current liabilities: $3.7 million[[tagnumber 11]] [[tagnumber 10]]annual revenues: $1.76 million[[tagnumber 11]] [[tagnumber 10]]annual net loss: $8.78 million[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Although the company increased its revenues by a whopping 1205% on a year–over–year basis the cash reserves and the current assets are simply too small compared to the losses that [[tagnumber 24]]CANN[[tagnumber 25]] recorded. Speaking of losses, despite the impressive increase in revenues, [[tagnumber 24]]CANN[[tagnumber 25]] has actually managed to inflate its losses, mainly through share–based compensation.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, after yesterday’s 23.33% jump pushed [[tagnumber 24]]CANN[[tagnumber 25]] to a closing price of $1.85, the market cap of the company was increased to some $27 million, which looks a bit optimistic considering the balance sheet above. Still, investors were excited, as can be seen by the 857 thousand traded shares that generated $1.46 million in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After the rather impressive climb, however, we see that [[tagnumber 24]]CANN[[tagnumber 25]] is hesitating in today’s trading and is already 8.11% in the red. Only time will tell if the ticker can continue its ascent. Meanwhile, you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]