|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.1500 - 1.2200|
|52 Week Range||0.8200 - 6.5900|
|Beta (5Y Monthly)||1.53|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 09, 2020 - Mar 15, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.80|
Johnson Fistel, LLP is investigating potential claims on behalf of CV Sciences, Inc. (Other OTC: CVSI) ("CV Sciences" or the "Company") against certain of its officers and directors.
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into CV Sciences, Inc. (OTC: CVSI).
Refreshed Website Guides Visitors on their Hemp CBD Journey with Multimedia Educational Resources, In-Depth Product Information and Improved Shopping Tools Company Well.
While the U.S. Federal government doesn’t appear any closer to approving cannabis, Congress does appear set to tackle the regulations holding back widescale sales of cannabidiol or CBD. The passage of the 2018 Agriculture Improvement Act (farm bill) legalized hemp production setting the market up for a strong sales ramp, but the U.S Food and Drug Administration squashed the growth opportunity by blocking CBD used as dietary supplements.Hemp contains less than 0.3% of tetrahydrocannabinol (THC), whereas marijuana contains up to 30% of the psychoactive compound. CBD is increasingly presumed to contain properties for wellness and pain management increasing the attractiveness of hemp-infused CBD products. Unfortunately for the market, the FDA continues to question the lack of safety research on CBD products and placed into question the approval of edibles.For this reason, the large proclamations for huge CBD sales have taken a hit. National retailers haven’t stocked edible products due to the potential ire of the FDA causing pure CBD companies to miss sales targets in 2019.The industry has high expectations for substantial sales with the FDA eventually allowing CBD in food and supplements. Combined research from Roth Capital Partners, Brightfield Group and Cowen predicted a CBD market of ~$17 billion with Roth predicting a market potential to achieve sales in the $40 billon range.Last week, Congress appeared to have wide support for H. R. 5587. The bill hopes to remove the FDA stance that CBD needs testing before approval in dietary products due to the item being previously listed as a controlled substance based on the provision in the Federal Food, Drug, and Cosmetic Act. At the same time, some members of Congress appear unwilling to overstep the boundaries of the FDA considering the legitimate concerns of the long-term safety impact of prolonged CBD usage.We’ve delved into three U.S. companies poised to benefit from a Congress willing to direct the FDA to allow the wide use of CBD in food products. Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to give us an idea of what the Street thinks is in store for the trio in the year ahead.Charlotte's Web Holdings (CWBHF)Charlotte’s Web is the unofficial leader in the CBD space with a market valuation approaching $1 billion after this rally. Despite disappointing Q3 results due to national retailers pulling back from offering hemp-infused edibles, the company still generated $25 million in sales.The stock has soared off the lows near $6 recently to top $9 in a matter of days this week. CWH traded above $25 back in the Summer when the market expected the CBD company to hit 2020 revenue targets reaching $350 million.The company has a lot at stake with whether the FDA approves CBD infused in food and supplements. Management estimated that small independent retailers willing to sell the full scope of their products obtained up to 85% of sales from the items questioned by the FDA.CWH has seen retail doors reach the 10,000 level. Unfortunately, the growth is mainly within the FDM channel unwilling to risk ire with the FDA due to the lack of regulatory clarity on ingestible products.The CBD producer recently raised about $50 million in an equity offering at $10 per share plus warrants exercisable in the future. CWH is best positioned to expand when the FDA no longer stands in the way.All in all, CWH sells for a bargain $8.72, a price that is especially attractive when the upside potential is taken into account. The average price target, $14.11, indicates room for over 60% growth to the upside in this stock. The Strong Buy analyst consensus is based on 6 "buy" and 1 "hold" ratings set in the last two months. (See CWH's price targets and analyst ratings on TipRanks)CV Sciences (CVSI)CV Sciences has a robust retail distribution count at 5,435 stores as of September 30 with plenty of national retailers signed up. As with CWH, the company saw Q3 sales hit by the FDAs view on CBD products while the retail store count topped 5,700 in November.Despite the retail store increase, sales declined in the September quarter to only $12.6 million. The revenue miss pushed CV Sciences into a $1.1 million net loss.The company ended the quarter with a cash balance of $14.4 million and a diluted share count of nearly 116 million shares. CVI Sciences guided to 2019 revenues in the range of $55 million to $57 million suggesting December revenues of only $11.6 million.Analysts expect a ramp to 2020 sales of $75 million, but the target is highly in question considering the FDA restrictions and the competitive market. Last year, analysts were predicting sales of around $120 million in 2020 as an indication of where the growth potential exists without the FDA blocking key food and dietary supplements from the market.Judging from the consensus breakdown, it has been relatively quiet when it comes to analyst activity. Over the last three months, only 3 analysts have reviewed the CBD oil maker. All three are bullish, making the consensus a Strong Buy. On top of this, the $4.00 average price target puts the upside potential at 230%. (See CV Sciences' stock-price forecast and analyst ratings)cbdMD (YCBD)cbdMD is a prime example of a company impacted by the delayed CBD market despite revenue growth. After a bad Q3 report in December, the company was recently forced into selling 16.0 million shares with an over-allotment of 2.4 million shares at $1.00 per share, raising ~$18.4 million before fees. The stock traded above $6 for a couple of months in 2019 so raising funds at this level was very dilutive for shareholders with only ~45 million shares outstanding prior to the offering.For the FQ4 ended September 30, cbdMD reported sales of $9.5 million and a total of $23.7 million for the fiscal year. The company suggests pro-forma sales for the year of $26.8 million as sales slowly ramped during the year with $8.0 million in the prior quarter.While sales increased during the year, gross margins for FQ4 were down to only 56.7% versus 63.0% in the prior quarter. In addition, the company cut back FY20 revenue guidance to between $62 million and $70 million, down from prior guidance of $80 million to $90 million.The problem here is the substantial operating loss from operations. cbdMD had annual gross profits of only $14.5 million with operating expenses up at $28.9 million. The management team forecast reaching positive cash flows by October and this goal is clearly very important considering the recent equity raise.For now, the restrictive FDA and unknown CBD bill outcome makes the stock too risky. cbdMD will greatly benefit from a less restrictive FDA, but investors must wait on this one until the risk is removed with actual passage of a bill.To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
SAN DIEGO, Jan. 21, 2020 -- CV Sciences, Inc (OTCQB: CVSI) (the “Company”, “we” or “our”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products through its.
SAN DIEGO, Jan. 08, 2020 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD).
Hitchman Brings Deep Experience in Product Development, Commercialization and Operations SAN DIEGO, Dec. 17, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV.
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into CV Sciences, Inc. (OTC: CVSI).
Cantor Fitzgerald took a cautious view on the consumer CBD sector Tuesday. Consumer CBD has "no obvious near-term catalysts," said analyst Pablo Zuanic. Companies that Cantor follows have not experienced product returns, he said.
SAN DIEGO, Dec. 03, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD).
The U.S. Food and Drug Association has crushed investor hopes for substantial growth in cannabidol (CBD) sales. The government organization doubled down on previous statements surrounding the “safety concerns” of long-term use of CBD along with the lack of clear testing. The FDA currently has CBD products as illegal to market by adding it to a food or labeling it as an dietary supplement.The new FDA warning will follow with official guidelines at a later date. For now, stores selling ingestibles (food products) will likely continue, but the biggest problem facing the sector is that the large FDM retailers have withheld placing these items in stores due to the uncertainty surrounding the FDA guidelines.The CBD market opportunity was forecast by the Brightfield Group at the potential of reaching over $21 billion by just 2022. This upside potential likely won’t occur now due to the strong warnings from the FDA leaving open the door for only reaching the low-end potential of $4.4 billion.The biggest problem for investors is around the FDA warnings that might scare away potential users in the future. Per the FDA based mostly on the limited testing from the FDA-approved drug Epidiolex, CBD has to the potential to harm users via the following: * CBD can cause liver injury. * CBD can affect the metabolism of other drugs, causing serious side effects. * CBD mixed with alcohol or other depressants increases the risk of drowsiness.One of the biggest concerns of the FDA is the lack of testing on CBD regarding the science, safety and quality of the products. For example, testing on lab animals has already found problems with the male offspring of CBD-treated pregnant females. In addition, little is known in the way of the long-term use impact.Due to these concerns from the FDA, we’ve delved into these three U.S. CBD companies that will be impacted by the likely slower than expected rollout of CBD products at major retailers and potential reduced demand from consumers in the short term:Charlotte’s Web Holdings (CWBHF)Charlotte’s Web Holdings is the leader in the domestic CBD sector and a company that had already warned on the impact of the FDA. The company missed Q3 estimates due to a slower rollout from the FDM channel awaiting clearer regulations from the FDA.The other problem is the competitive landscape in the CBD category. Previous research had the amount of CBD brands at only 600 last year with the number sky rocketing to 2,800 now.The market has the worst-case scenario of tons of brands reaching market while the FDA remains restrictive on food products and dietary supplements. The problem for Charlotte’s Web is that only 15% of sales from specialty stores come from topicals (lotions, creams, balm rubs) while the rest comes from the ingestible category.The CBD company is seeing the most growth from the large retailers with distribution deals with Kroger and Vitamin Shoppe contributing to the FDM retail partners expanding by 787 locations in the quarter. Unfortunately, these stores aren’t generating the expected sales causing Charlotte’s Web to cut revenue estimates to only up to $150 million in 2020 or virtually 50% below previous analyst estimates of around $280 million.The CBD company recently completed an equity offering raising $50 million reducing the capital dilution risk to new investors. But overall, the stock is dead money until the FDM channel opens up. (See Charlotte’s Web's price targets and analyst ratings on TipRanks)CV Sciences (CVSI) While Charlotte’s Web has a sizable market cap of nearly $1 billion, the other pure stocks in the CBD sector are much smaller. CV Sciences has a listed market value of $114 million with a fully diluted share count of 115 million shares and the stock is already down 15% on the harsher statements from the FDA.The company actually saw Q3 sales decline from the same period last year due to the uncertain regulatory environment. All while, CV Sciences grew their distribution points by 18% sequentially from Q2 to 5,400 stores. The company is in about half the retail stores of Charlotte’s Web while having similar distribution deals with Kroger and Vitamin Shoppe highlighting the competitive nature of the CBD space already.The company guided 2019 revenues to $56 million placing the stock valuation at slightly above 2x sales estimates. CV Sciences was highly profitable last year based on strong sector gross margins that topped 70%. The recent hiccup in the space suddenly has the company losing money while only having about $14 million in cash on the balance sheet.The biggest concern here for the smaller players is the lack of access to cheap capital as the market turns down. (See CV Sciences' stock-price forecast on TipRanks)cbdMD (YCBD)cbdMD is the smallest company in this group with Q3 revenues of only $8.0 million. Contrary to CV Sciences, cbdMD saw revenues surge 150% from last Q3.The company has a smaller retail footprint with only 3,000 retail doors at the end of Q3, though the numbers are up from only 600 at the end of 2018. cbdMD places a bigger focus on celebrity endorsements that include Bubba Watson from the PGA Tour and Ice Cube’s Big 3 basketball league.The company expects to drive substantial revenue growth over the next two years going from FY19 sales of $25 million to FY20 sales of $85 million to a whopping $300 million in FY21. cbdMD might have a more successful marketing model in the near term with celebrity endorses outweighing FDA warnings, but the revenue estimates appear far too aggressive for the current competitive landscape.The company has solid gross margins of 63%, but the operating expenses are far too large pushing the quarterly operating loss to over $6 million on only $8 million in net sales. The FDA regulatory environment is far too restrictive to invest in a money losing CBD company with unrealistic targets. (Find out how the Street’s average price target for cbdMD breaks down)To find better ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
You don't have to look too far to recognize the devastation that has occurred among marijuana stocks. Due to generally disappointing financial performances, the sector has been awash in red ink. Unfortunately, investors are losing patience with this chronically losing market, which has -- unsurprisingly -- affected marijuana penny stocks disproportionately.Naturally, I understand if someone is hesitant to dive into this sector, irrespective of the discount. We can talk all day about the transformative potential of legal cannabis, and I've done exactly that. But Wall Street has nervously eyeballed financial viability. Without any of the major players stepping up to the plate, cannabis investments, especially marijuana penny stocks, have incurred volatility.But if you're willing to absorb the bruises inherent in "botanical" companies, you may want to reconsider marijuana stocks. First, several green competitors rebounded on Tuesday on the announcement of a proposed Congressional bill to remove "criminal prohibitions against marijuana at the federal level."InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf successful, this would represent a huge lift for both the major cannabis players and marijuana penny stocks. Currently, the Agriculture Improvement Act of 2018, colloquially known as the farm bill, federally legalizes industrial hemp and hemp-derived products. Specifically, this means that hemp or hemp-derived cannabis products like cannabidiol (CBD) cannot contain more than 0.3% tetrahydrocannabinol (THC) content.A second upshot for marijuana stocks is that Americans have a growing distrust for the medical system. That's not surprising, considering major pharmaceutical firms' involvement in the raging opioid crisis. People are looking for true, naturally sourced therapies and cannabis offers a viable pathway. * 7 Killer Stocks No One Knows About With that, let's take a look at seven compelling marijuana penny stocks: cbdMD (YCBD)Source: Shutterstock Before I get into it, I should caveat that cbdMD (NYSEAMERICAN:YCBD) isn't a name most folks would consider belonging among key marijuana penny stocks to buy. Furthermore, cbdMD does not specialize in marijuana products. Instead, they focus on broad spectrum CBD -- products that contain CBD, other cannabinoids and essential oils (terpenes), but zero THC.This last point is especially important for YCBD stock because cbdMD has endorsement deals with several pro-athletes. Arguably, the most well known is two-times Masters champion Bubba Watson. As Watson relayed in an interview, he needed a product that would help with the aging process. He also required a product that would allow him to compete professionally without pinging positive for a drug test.Another reason why YCBD stock deserves a top billing is that cbdMD is headquartered in the U.S. And the American market is wide open for a company to establish a CBD brand, according to cbdMD CEO Marty Sumichrast. Thanks to a comprehensive and effective product portfolio along with key endorsements, YCBD stock is a name you shouldn't ignore. Hexo (HEXO)Source: Shutterstock Among the worst hit marijuana stocks, Hexo (NYSE:HEXO) was trading within the respectable $4 price range in late summer of this year. However, a rash of poor fiscal performances in the sector substantially hurt HEXO stock. And specific to the underlying company, the growing losses in net income have worried investors.As a result, HEXO is now counted among the worst hit marijuana penny stocks. Still, if you've got an iron stomach, I believe this embattled firm has serious upside potential.For one thing, management has earned respect for its forthrightness regarding its unlicensed cannabis production incident. Due to an oversight, Hexo mistakenly produced cannabis in an unlicensed area. However, unlike CannTrust (NYSE:CTST), management reported the incident to governing agency Health Canada. Optically, despite an unfortunate error, I think it is a good look for HEXO stock because of the honesty involved. * 10 Best High-Growth Stocks to Buy for Young Investors Second, Hexo has a joint venture with Molson Coors Brewing (NYSE:TAP) to produce CBD-infused beverages. Experts peg this market to hit over $1 billion by 2022, presenting an opportunity for HEXO stock. CV Sciences (CVSI)Source: Kimberly Boyles / Shutterstock.com Under the best of circumstances, equity shares of small pharmaceutical companies are subject to extreme volatility. Logically, then, marijuana penny stocks that focus on cannabis-based drugs are just as unpredictable, if not more so. And that's the case with CV Sciences (OTCMKTS:CVSI) and CVSI stock.Back when the weed market was still fresh, companies like CV Sciences experienced dramatic surges in valuation. However, with the Street demanding hard results and not merely tantalizing narratives, the cannabis investment sector crumbled.Still, CVSI stock makes a compelling case for itself if you're willing to accept the wildness in its pricing dynamic. One of the company's drugs is a synthetic CBD formulation designed to curb smokeless tobacco use and addiction. With the vaping crisis becoming one of the hot topics earlier this year, CV Sciences' products have incredible relevancy. Cannabis Sativa (CBDS)Source: Shutterstock Like many marijuana penny stocks, Cannabis Sativa (OTCMKTS:CBDS) started off with great promise thanks to its multi-varied brands and businesses. For instance, the company opened up its first "hi Brand International" dispensary in Portland, Oregon. It's also seeking opportunities for expansion into green-friendly states.That said, one of the more intriguing businesses connected to CBDS stock is the skincare market. According to retail cannabis market experts, the CBD skincare market will likely reach $1.7 billion by 2025. That might not sound like a groundbreaking number. However, considering that Cannabis Sativa only made half-a-million dollars last year, this could be a huge prospect for CBDS stock. * These 10 Stocks to Buy Make the Perfect 'Retirement' Portfolio Moreover, speculators should consider the broader implications. Major marijuana stocks, such as Cronos Group (NASDAQ:CRON), are entering the U.S. CBD market via acquisitions like the Lord Jones deal. Of course, Lord Jones is a big CBD skincare brand. Thus, CBDS stock is at least fundamentally moving in the right direction. MariMed (MRMD)Source: Shutterstock If there's one phrase to describe marijuana stocks, it's that this industry represents the perpetual clash between theory and reality. In theory, legal cannabis opened up the door to previously untappable revenue streams. But in reality, the industry suffered from unexpected supply chain issues, stymieing an otherwise unprecedented breakthrough.However, this theory-versus-reality conflict also benefits MariMed (OCTMKTS:MRMD) and MRMD stock. Primarily, MariMed operates as an administrative and operational advisor for the burgeoning cannabis industry. While legalization in North America has brought initial enthusiasm, cannabis-based enterprises are incredibly tough to get up and running. Here, MariMed plays the role of expert consultant, navigating clients away from common pitfalls toward higher probabilities of success.Despite the obvious need for the company's services, that hasn't stopped MRMD stock from turning volatile. In fact, today, it's firmly in the territory of marijuana penny stocks. Still, shares appeared to have stabilized since mid-October, tempting the contrarian approach. MedMen Enterprises (MMNFF)Source: Shutterstock It's almost tragic what happened to MedMen Enterprises (OTCMKTS:MMNFF) recently. Just days ago, MMNFF stock was trading above the all-too-critical $1 threshold. But with the ugly realization that the underlying company could face bankruptcy, shares tumbled below that threshold. Now, it's on this list of very speculative marijuana penny stocks.But can it eventually join the ranks of "regular" marijuana stocks? I'm going to be blunt: MMNFF stock is now one of the riskiest names in the cannabis markets. On the flipside, it does have tremendous upside potential because of this overwhelming risk.In my interview with cbdMD's CEO Marty Sumichrast, he articulated the concept of cannabis branding. When it comes to the retail space, I can't think of a cleaner and more professional brand than MedMen Enterprises. It doesn't try to be an over-the-top weed distributor. Instead, they're focused on quality products and excellent customer service. * 7 High-Yield ETFs to Buy Now Will this be enough to save MMNFF stock? Undoubtedly, this is a gamble, but an interesting one. Diego Pellicer Worldwide (DPWW)Source: Shutterstock If you're looking for the "ultimate" in marijuana penny stocks, then treat yourself to Diego Pellicer Worldwide (OTCMKTS:DPWW). Funny, but true story: I didn't even know about this company's existence until an InvestorPlace reader named Anthony reached out to me and asked me about it. Curious, I researched DPWW stock and I must say it's an intriguing concept.Generally speaking, legal cannabis retailers fall under two camps: those that emphasize the "street image" of the cannabis plant and businesses that cater to therapeutic use. However, Diego Pellicer introduces a third option: premium, luxury-themed cannabis products.Under ideal circumstances, DPWW stock might work out. Making cannabis isn't exactly rocket science. Thus, with supply rising, industry players need a distinguishing brand. Diego Pellicer has that in droves.What it doesn't have, though, is market credibility. DPWW stock currently trades at less than 2 cents. You've been warned.As of this writing, Josh Enomoto is long YCBD, HEXO, and MRMD. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Best Consumer Stocks to Buy Before Black Friday * 9 Tantalizing Dividend Stocks for 2020 * 5 Lottery Stocks With Triple-Digit Upside The post 7 Marijuana Penny Stocks That Have Ridiculous Possibilities appeared first on InvestorPlace.
New Partnership with Southeastern Grocers Launches PlusCBD™ Oil Topical Products and Dietary Supplements at 115 Winn-Dixie Stores in Florida and 37 BI-LO Stores in South.
CV Sciences, Inc. (CVSI) delivered earnings and revenue surprises of -300.00% and -32.29%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Increased Retail Distribution by Over 800 Stores SAN DIEGO, Nov. 05, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent.
CV Sciences, Inc. (CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, is pleased to announce its support of the U.S. Department of Agriculture’s (USDA) progress on implementation of the hemp provisions of the 2018 Farm Bill. On October 29, 2019, U.S. Secretary of Agriculture Sonny Perdue announced the interim final rule for the U.S. Domestic Hemp Production Program.
CV Sciences, Inc. (CVSI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
SAN DIEGO, Oct. 29, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD).
This year’s conference will be held November 1st through November 4th in Charlotte, North Carolina, and marks a significant milestone for HIACON as the longest-standing hemp conference in its 26th year. “We are looking forward to joining HIACON as the title sponsor for our 4th consecutive year,” said Joseph Dowling, Chief Executive Officer of CV Sciences.
SAN DIEGO, Oct. 23, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD).
CV Sciences, Inc. (CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, today announced the appointment of Dr. Paul Blake to its Board of Directors effective October 21, 2019. “We are very pleased to have Dr. Blake join our Board of Directors,” said Joseph Dowling, Chief Executive Officer of CV Sciences.
Partnership Broadens Distribution of PlusCBD™ Oil Products to More Than 500 The Vitamin Shoppe Locations SAN DIEGO, Oct. 17, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the.
Partnership Broadens Distribution of PlusCBD™ Oil Products to 150 Harris Teeter Locations SAN DIEGO, Oct. 01, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV.
CV Sciences, Inc. (CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, announces its full support of the House of Representatives’ passage of the Secure and Fair Enforcement (SAFE) Banking Act, a key measure that would enable banks to serve cannabis-related businesses in legal medical and adult-use U.S. states. The SAFE Banking Act passed the House on Wednesday, September 25th by a vote of 321 to 103, becoming the first standalone marijuana reform bill to ever clear a chamber of Congress. “This is a significant step for the evolution and advancement of the legal cannabis industry,” said Joseph Dowling, Chief Executive Officer of CV Sciences.
SAN DIEGO, Sept. 24, 2019 -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol.