Just prior to the start of the year, when the marijuana revolution kicked off, the early investors of Advanced Cannabis Solutions, Inc. (CANN) saw their penny stock grow from under $2 to over $64 before it was suspended by the SEC. The over 3,100% price increase the came over the course of 9 weeks was caused by not only CANN stock being cannabis related, but also because it had one of the lowest public floats of any marijuana stock out there. Today, that float is tested since GrowBlox Sciences, Inc. (GBLX) is officially live and starting out at almost the same price which begs the question: can this marijuana biotech driven firm create the perfect strain and have GBLX stock make money for traders as well?
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GBLX Stock Quote
Market Cap: 12.01M
Last: 2.02 ▼ -0.33 (-14.04%)
Dollar Volume: $128,213
14-Day Rel Strength: 43.17%
1st Resistance Point: 2.3633
1st Support Level: 1.6633
52Wk High: 8.90
52Wk Low: 0.001
The legal production and use of cannabis is what GrowBlox Sciences is all about. After Craig Ellins and Steven Weldon of Screaming Reach Investments LLC took control of Signature Exploration and Production Corp. (SXLP) in mid-March, the changing of the name and ticker symbol to GBLX was all that really needed to be done before OTC traders could feast their eyes on what could potentially be the next 3,100% gainer since CANN stock.
Immediately after taking control, the 2 raised $100,000 by selling to one person 200,000 units with each unit consists of one share of GBLX stock, one A warrant and one B warrant for the right to purchase of one share of GBLX stock pursuant to certain terms and conditions. Then, 438,681 shares of GBLX stock was issued to 5 people in exchange for the cancellation of debt in the total amount of $114,017.08 ($0.26 per share) which brought to total shares outstanding to 5,988,791.
Now, it seems obvious from looking at the chart that some of those debt issued shares have already hit the market and been worth some decent returns considering the cost basis. However, GrowBlox Sciences has done what thousands of people around the world have been doing for decades: they developed a proprietary indoor growing chamber specifically designed for medical cannabis cultivation in which cannabis can be grown hydroponically under completely controlled conditions, ensuring the manufacture of a consistent, toxin-free, natural and medicinal grade product.
From a look at their “product and business” presentation, what GrowBlox Sciences has done is recreate the wheel in way to put their double-chambered control center as the significant factor which will create a strain of medicinal marijuana that would make any layperson unfamiliar with the process think it’s better than sliced bread. What is actually better than sliced bread is the GBLX stock float, tastier than CANN‘s, due mainly to the issued and outstanding shares having been decreased by 1 for 10 split at the end of October, 2013.
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About GBLX Stock
GrowBlox Sciences, Inc. is a development stage, research and biotechnical development company focused on setting the gold standard for manufacturing medical cannabis producing technology, as well as discovering, developing, and commercializing proprietary strains of cannabis to treat a broad range of serious medical conditions.
Issued and Outstanding: 5,988,791
Last 5 Trading Sessions:
Based solely on the industry and float combination, it would appear to be virtually impossible to buy shares of GBLX stock at these prices and not have it reach the $10 level. Although the past never can accurately predict the future when it comes to penny stocks, the mere thought of GBLX plotting itself up the chart like CANN so successfully did before it was suspended calls for it’s immediate addition to the watch list and plotting for entry points.