What Is Going On With Cannabis Science Inc (OTCMKTS:CBIS)?

Cannabis Science Inc (OTCMKTS:CBIS) disclosed that first round of CBIS products have been introduced in the market. It is the first step completed under the agreement finalized with the “Cannabis Science Research Foundation.” This first round of product launch is done in order to test it in the market. Once the results are collected, the company will design the large-scale rollout plans

The details

Cannabis Science reported that the initial launch has been done in different places in California. So far, there are minimum three private as well as public dispensaries offering the products. Raymond C. Dabney, the Chief Executive stated that their previous products have shown to be effective to self medicating patient and they anticipate similar results from the latest launch of CBIS products. They have seen increased demand for their products from self-medicating patients across the world.

The CEO further added that they are delighted to launch the products in Californian market. These products will be used by self-medicating patients, who will then provide necessary feedback. Cannabis Science has a number of products to treat different ailments.

The plans

The CEO of Cannabis Science said that they will be introducing various products and delivery procedures, in numerous jurisdictions following the regulatory stipulations. Also, the management intends to release the necessary information about products and locations as and when they become available.

The new product release is done in association with the Cannabis Science Research Foundation. CSRF will look after the various research and distribution activities of CBIS products for its planned programme. This license distribution deal is must to enhance the committed focus that the company has on its drug development plans.

CBIS

Cannabis Science Inc (OTCMKTS:CBIS) continued its decline as it finished the last trading session with a major loss of 8.62%. The volume of 6.7 million was much lower than the daily average of 14.2 million, indicating that most of the drop was taking place due to the absence of buyers, rather than any huge selling pressure. The final closing price of $0.0265 was almost 17% higher from the day low of $0.0225, implying a sharp recovery attempt by the bulls. If the bulls can protect the area around $0.0225 in the coming few sessions, then another sharp bounce can be expected.

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