Cannabis Science Inc (OTCMKTS:CBIS) Heats Up Again

Things are heating up again for Cannabis Science Inc (OTCMKTS:CBIS) ahead of the November elections. We've seen new money coming into the cannabis sector as investors try to position themselves ahead of this monumental event. Come November, voters in at least nine states will decide on whether to legalize either the recreational use or the medical use of marijuana. As it stands now, those states include Arizona, Arkansas, California, Florida, Maine, Massachusetts, Montana, Nevada and North Dakota. Are new highs just around the corner for CBIS?Cannabis Science just launched new medicinal product lines for self-medicating patients via legal dispensaries and delivery within the State of California. Initial Target Ailments include cancers, PTSD, HIV/AIDS, Asthma, COPD, pain management, management of appetite disorders, headaches, joint and muscle pain, menstrual pain, sleep aid, seizure spectrum disorders, cold & flu, psoriasis, and others. Each study will be conducted through MD status doctor monitoring systems.California is a great target market for Cannabis Science. In California, things are really heating up. Proposition 64, which is on the November ballot, would allow people age 21 and older to possess and use up to an ounce of marijuana and would allow pot shops to sell cannabis for recreational use. The initiative also includes a provision that could someday allow cannabis sellers to advertise their products in print ads and on digital sites and radio and television stations. If Californians vote to legalize recreational use, overnight it will triple the size of the US cannabis market. So far, Proposition 64 has widespread support. Lt. Gov. Gavin Newsom (D) and at least four California U.S. representatives are supporting the measure. Most importantly, latest polling data shows 60% of Californians in favor of legalization.Last month, the company announced that more than 100 individuals have expressed interest in participating in the initial round of trials for Cannabis Science's new inhalation study for asthma/COPD and other respiratory conditions. Due to the large demand, Cannabis Science has received several new products that the company is expanding into its clinical studies on a state-by-state basis beginning in the State of California. These new products are designed to target asthma, severe pain management, and sleep disorders. Twenty five (25) legal, self-medicating patients in California are currently being selected for its initial asthma/COPD inhalation medicine study.CBIS aims to capitalize on the marijuana industry's impressive growth. So far, 25 states have established medical marijuana programs. These states include: Alaska, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine,Maryland, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island,Vermont, and Washington. In addition, Washington, DC and Puerto Rico allow medical marijuana for patients.Additional states, while not offering comprehensive medical marijuana programs, have approved marijuana- based “low THC, high cannabidiol (CBD)” products for limited medical purposes. These states include Alabama, Florida, Georgia, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina,Tennessee, Texas, Utah, Virginia, Wisconsin, and Wyoming.Alternatively, CBD oil products that are derived from hemp are legal to purchase and use in all 50 states without a visit to a doctor, a medical marijuana card, or paying a state enrollment fee. Made with naturally high-CBD, low-THC hemp, these products contain the same levels of CBD as those sold in medical marijuana dispensaries, but because they are sold as supplements, they are 100% legal in the U.S.Currently trading with a market cap of $41 million, the quarterly financials ending June 30 showed revenues of $3k, a net loss of $1.7m, $33k in cash, $2m in total assets, and $4.5m in total liabilities. CBIS needs to greatly improve its financials going forward. However, in the short term, we don't believe investors are focusing on the financials. The rising tide is lifting all boats, including CBIS. We will be updating our subscribers as soon as we know more. For the latest updates on CBIS, sign up below!Disclosure: We have no position in CBIS and have not been compensated for this article.