Cannabis Science Inc (OTCMKTS:CBIS) Looking To Bounce

Cannabis Science Inc (OTCMKTS:CBIS) is one name on the OTC markets desperately in need of a reversal. Shares have been treading water all year and are hovering just above the penny level. The good news is that there has been positive news coming out of the company. What we need to happen is for management to execute.CBIS is focused on three main formal drug targets, proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively. Its pharmaceutical drug development program with partner ImmunoClin (IMCL) out of Europe is focused on delivering compliant GMP quality pre-clinical data, including cultivation of CBIS specific cannabis strains, formulation and manufacturing of clinical grade material to enable entry of CS-NEURO-1 and other cannabinoid based products into a Phase I human studies in Europe. In the State of California, Cannabis Science is in initial production and testing of its Pure Decarboxylated CO2 Oil (PDCO) and CBD, Sativa, and Indica Capsule products. In 2016, product improvements will continue to be made and these products will be rolled out to a wider array of dispensaries. Marketing efforts for the capsule products will be ramped up in 2016, as the company’s products are now completely viable and have received outstanding feedback from consumers to date. Lastly, CBIS expects its IGXBIO, Genepro drug development program to be a major pharmaceutical win.Earlier this month, CBIS announced its next critical ailment target is autism and added Mieko Hester-Perez to its Scientific Advisory Board. Mieko gained significant recognition for bringing her son's success with medical cannabis to the public and birthing the significant "Joey's Strain." The company has begun preliminary protocols to initiate formal studies with Mieko on autism in adults and children spotlighting successful treatments using cannabinoids.

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Last month, CBIS launched a new ecommerce site in cooperation with Purple Haze Properties, headed by Andrew Pitsicalis and Leon Hendrix, the brother of the late rock and roll legend. The site will sell "Jimi's Meds" in varying dosages of CBD, THCa, and THC depending on the needs of each licensed patient in the State of California. The site is now live and taking orders. The "Jimi's Meds" non-psychoactive CBD + THCa 50mg blend has been entered into the CBD edibles category, while the pure THC 25mg psychoactive supplement has been entered into the THC edibles category.Prior to this deal, CBIS also launched its wholly-owned animal product subsidiary Equi-Pharm's e-commerce website at equi-pharm.com for sales of Equi-Pharm's Quality Animal Care Products. The site will allow animal owners across the country easy access to the Equi-Pharm quality lineup of products. In the site's unveiling, the company's first Hemp infused product is available for horse owners. Equi-Sheen HP, a medicated grooming product for Horses, is now ready for shipment directly from the Equi-Pharm shipping facility in Shelbyville, TN. Equi-Pharm develops, formulates and markets horse and pet grooming aids and topical remedies using high quality ingredients in the U.S.A. The company specializes in utilizing natural ingredients to provide safe and impactful health benefits to animals.The biggest overhang on CBIS has been constant dilution. However, with that being said and looking at CBIS impartially, the stock could be ripe for a bounce. There’s no doubt it’s oversold on the charts and if there is some positive developments, shares could take off on short covering like they did the last time they got to these levels. Management is under pressure and no doubt they realize that they have to make something happen. Judging from the comments on the message boards, it’s clear that there are a lot of pissed off and angry shareholders. Delivering on something will go a long way to appeasing the current shareholder base of CBIS.

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Currently trading with minimal revenues and assets, CBIS is a risky play, but one that can have big rewards if management can execute. But we think CBIS shares could get going if and when pot stocks get hot again. CBIS is one of the originals with a large shareholder base and a history of explosive moves. We will be updating Insider Financial with the latest developments from CBIS. Be sure to sign up today and stay updated on CBIS!

Disclosure: We have no position in CBIS either long or short. We have not been compensated for this article.