Reefer Madness has taken over the OTC stock world with traders reaping more highs than lows on the majority of their trading decisions when it comes to buying marijuana stocks. Today, the Grand Poobah of them, CannaVEST Corp. (OTC: CANV) appears under its new ticker symbol after switching over from Foreclosure Solutions, Inc. (FCLS). While the current price and recent activity make it look like this is one cannabis focused Company that doesn’t belong on any list of penny stocks to watch, time will soon pass when CANV stock becomes price adjusted, allowing even the most stoned of investors a chance to get rich off of Michael Mona and Michael Llamas’ newest medicinal marijuana blend.
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CANV Stock Quote
Market Cap: 88.55M
Last: 12.65 ▲ +0.15 (+1.20%)
Issued and Outstanding: 7,900,000
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The $12.65 price may cause some to think that CannaVest’s CANV stock will never be traded and/or treated like a penny stock. Oh how wrong those silly stoners can be sometimes.
On March 4, 2013, CannaVEST Corp. acquired Series A Preferred Stock, Common Stock and Warrants to purchase Series A Preferred Stock and Common Stock in KannaLife Sciences, Inc., making an initial investment of $250,000, paid in cash, in exchange for 8.325% of KannaLife’s issued and outstanding Series A Preferred Stock (1,019,813 shares of Series A Preferred Stock) and 8.325% of KannaLife’s issued and outstanding Common Stock (5,205,000 shares of Common Stock). The Agreement was set up for 4 $250,000 investments by CannaVEST to KaannaLife , payable in cash, with the remaining 3 payments scheduled to occur on or before April 1, 2013, July 1, 2013 and October 1, 2013.
The money to purchase the interest in KannaLife is coming from Roen Ventures, LLC, a Nevada limited liability company which CannVEST’s CEO and sole member of the BoD, Michael Mona, Jr., holds a 50% interest in. Michael Llamas, self-creator of the marijuana stocks’ madness, is the other 50% interest in Roen Ventures. The group, in exchange for loans provided and to be provided in the future in an amount of up to $2,000,000, has, as of March 6, 2013, contributed $430,500 to the cause in the form of an unsecured obligation accruing interest at 5% that is due and payable in 2 years, on March 1, 2015.
Upon the closing of the 4th installment, CannVEST would own an aggregate of 33.3% of KannaLife’s issued and outstanding Series A Preferred Stock and 33.3% of KannaLife’s Common Stock. Joining the KannaLife purchase party, Michael Llamas’ Medical Marijuana, Inc. (MJNA) is also included having purchased 16.7% of KannaLife’s Series A Preferred Stock and Common Stock since Medical Marijuana owns and holds an 80% interest in PhytoSPHERE.
KannaLife Sciences, Inc. is a socially responsible, phyto-medical company specializing in the research and development of pharmacological products derived from plants. They hold a U.S. patent (6,630,507), among other claims, directed to a method of treating diseases caused by oxidative stress by administering a therapeutically effective amount of a non-psychoactive cannabinoid that has substantially no binding to the NMDA receptor.
KannaLife reports having an exclusive license agreement with National Institutes of Health – Office of Technology Transfer through which KannaLife intends to pursue the commercial development of a new drug compound for the treatment of Hepatic Encephalopathy — the occurrence of confusion, altered level of consciousness, and coma as a result of liver failure caused by accumulation in the bloodstream of toxic substances that are normally removed by the liver.
Most commonly done with the laxative lactulose or with non-absorbable antibiotics, Hepatic Encephalopathy is reversible with treatment. Don’t know how rubbing some cannabinoid based oils on your intestinal tract area is going to have much effect — perhaps it is to be introduced in an anal swap of some sort.
It’s weird how when you go to spell-check the word “cannabinoid”, the offer provided is Canadianism. How ironic is that chronic?
The whole story line began back on November 16, 2012, when Mai Dun Limited, LLC, Mercia Holdings, LLC, General Hemp, LLC and Bamburgh Holdings, LLC acquired a total of 5,000,000 shares of Foreclosure Solutions, Inc. stock, FLPC, from H.J. Cole, the Company’s former sole director and former sole officer. The group of buyers subsequently acquired another 1,979,900 shares of FLPC stock from other shareholders of the Company in a series of private transactions.
All in all, CannaVEST became the new pump machine for Llamas and Mona for the purchase price of $375,000 with some help from Stuart Titus, the sole manager and member of General Hemp, LLC.
With CannaVEST set to launch their website very soon and CANV stock being ready to be pumped, long investors should have trusted faith in putting their money into the OTC’s version of drug dealers.
Just think, Michael Mona, Jr., the President, Secretary and Treasurer of the Company, possesses over 25 years of experience in the field of construction and project development, holding various senior positions in these fields since 1987. Why he’s even overseen the construction and operation of various apartment projects, hotels and recreational vehicle parks throughout Las Vegas, Nevada while President of M&M Development, Inc. How’d you like him rub some cannabinoid on your intestinal area?
About CANV Stock
CannaVEST Corp., through their investment holding in KannaLife Sciences Inc., is seeking to take advantage of an emerging worldwide trend to re-energize the production of industrial hemp and to foster its many uses for consumers. The focus will be to develop, produce, market and sell end consumer products containing the hemp based compounds with a focus on Cannabidiol.
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Bottom Line: CANV might look like it doesn’t belong on the list of penny stocks to watch, but trust us – it does. The day will soon comes when CANV stock is at an affordable price and volume activity becomes active, creating the smallest float of any marijuana stocks out there. Sure MJNA, HEMP, PHOT, even SKTO, were all the rage, but to have a virgin of a Company be able to be introduced properly through the promotion channels could be a priceless opportunity for but traders and Michael Llamas and crew.
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