While marijuana stocks have all but lost the luster they had at the beginning of the year, the penny stock of Cannabiz Mobile, Inc. (LGBI) looks to make an impression on the OTC Pinksheets now that their 1-for-8 reverse split has been effectuated. Looking to provide an e-commerce and telecommunications marketing platform for the regulated cannabis industry, shares of LGBI stock have yet to trade since the “D” was removed, effective today, but should be a popular ticker now that there are less than 11 million shares outstanding. Although the OTC Markets, as a whole, are not seeing the kind of trading volume they were prior to the July 4 holiday, a re-blaze in the cannabis sector could reawaken all of those college kids who suddenly became one-day millionaires during the first 3 months of the year.
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LGBI Stock Quote
Market Cap: 2.72M
Last: 0.25 ▲ +0.2379 (+1966.12%)
Dollar Volume: Less Than $5K
14-Day RSI: 35.65%
1st Resistance Point: 0.2833
1st Support Level: 0.1833
52Wk High: 0.25
52Wk Low: 0.0026
We first took note of Cannabiz Mobile back in late June when James Gondolfe, President of Lion Gold Brazil, Inc., made it known that the failed mining efforts were due to redirect their attention to market a subscription based, in the cloud, mobile media solution that enables care givers, dispensaries, hydroponic and ancillary product retailers the ability to create, deploy and analytically measure mobile marketing campaigns utilizing all networks and devices in the U.S. and Canada. Cannabiz Mobile surely isn’t the first marijuana stock to head down this road, however, thanks to the 1-for-8 reverse stock split, they sure are one of the lowest share structured ones out there.
Prior to moving into the cannabis sector, the last financial filings for Lion Gold Brazil showed cash on hand of just $44 and a note payable to Lion Share Ventures, LLC valued at $100,649. What is extremely positive to see is that, although these are pink sheet filed financial statements, there was 40,040,041 shares of LGBI stock issued and outstanding for the previous 18 months with not one single share having been sold or issued in a debt conversion since September 30, 2012.
Noting that it will likely take months, if not years, for Cannabiz Mobile to propel itself into the revenue generating list of marijuana stocks that trade on the OTC, it likely won’t take but a couple of minutes once the eyes begin the glance over at the level 2 screen of LGBI before that makes money for those who were buying when it was still LGBID. With their coupon wizard being their main asset which provides a built-in redemption feature which includes automated barcode creation, promotion code development, and more, there likely won’t be much more chances to get LGBI stock at a discount after traders begin to pounce on the ask currently under control by NITE.
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About LGBI Stock
Cannabiz Mobile, Inc. is a development stage, mobile media and marketing company specializing in servicing businesses in the medical marijuana industry.
Issued and Outstanding: 10,880,052
Last 5 Trading Sessions (Pre-Split):
To the best of our knowledge, we are the only penny stocks website that has initiated coverage on LGBI stock as of now. Similar to other breakout picks, one of which was recently featured on the hottest financial television channel on the planet after it burst from around the same price to over $22, LGBI stock could see $1 before anyone gets a chance to blink an eye and burst past that once traders take note of just how little there is to go around.