CannaVEST Corp (OTCMKTS:CANV) is heating up with the rest of the sector as we come into the season when pot stocks get hot. Investors are accumulating the stock after a recent test of the bottom of its range just over $2 support. Everyone remembers the historic run CANV made this time last year from $25 to $200 a share.
The run last year was so EPIC that CANV was featured in Forbes in an article that looked at the Company’s formation and noted that CANV backer Bart Mackay was worth $1.8 billion on paper when CANV hit $200.
CannaVEST Corp (OTCMKTS:CANV) is a manufacturer and distributor of hemp and Cannabidiol (CBD) based products. The Company is focused on the procurement and wholesale of the hemp plant extract cannabidiol (CBD), and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand. CannaVest resells raw industrial hemp product to third parties, acquired through supply relationships in Europe.
CANV subsidiaries are: CannaVest Laboratories is a global phytocannabinoid biotechnology company based in San Diego. Our focus is the science of phytocannabinoids and the marketing and distribution of phytocannabinoid-based products. We utilize advanced cultivation methods and state-of-the-art processing technology that lead to the development of hemp-based pharmaceutical and nutraceutical products.
Cibdex™ is the first commercially available phytocannabinoid-rich hemp extract that is manufactured based on current good manufacturing practice (cGMP) protocols (in accordance with FDA’s Current Good Manufacturing Practices).
Cibaderm™ is a revolutionary personal care line infused with our Hemp CBD Complex™—a unique extraction of the hemp plant—and natural steam-distilled botanicals. Indulge your body with the power of Cannabis Beauty™. Your skin, hair, and nails will look healthier and more radiant, naturally, thanks to Cibaderm™.
US Hemp Oil is dedicated to the procurement, processing, marketing and distribution of bulk wholesale hemp oil, protein, food and hemp body care products. US Hemp Oil is determined to bring hemp food products into the mainstream by creating greater public awareness and media exposure for the exceptional nutritional profile of hemp seeds and the environmental benefits of growing industrial hemp.
The PlusCBD™ emblem is the first universal standard for CBD quality control and quality assurance. Every product bearing a PlusCBD™ monogram certifies that your hemp-based CBD originates with us. It is a visual reminder to your customers that you have added CBD to your product. PlusCBD™ assures your customers that they are getting a safe, legal ingredient in your products.
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CannaVEST has some interesting characters behind it, the two lead figures being CEO Michael Mona, Jr. and backer and primary shareholder Bart Mackay. According to the Forbes article ”Michael Mona Jr. went before the Nevada Gaming Control Board seeking a license for his Mediterranean-style Sunrise Suites hotel and casino in Las Vegas, it didn’t go well. The board, reportedly wary of his ties to shady telemarketers, including one who spent time in jail, told Mona his application would be rejected. He in turn withdrew his application and subsequently filed for personal bankruptcy when the casino could not open.”
In recent news CannaVest was awarded first place honors once again for the of its CBD Simple™ hemp Cannabidiol (CBD) oil at the 2014 High Times Cannabis Cup in Amsterdam, The Netherlands on Thursday November 27, 2014. This is the company’s industry record sixth first place High Times Cannabis Cup win in the CBD concentrate category. The company’s High Times Cannabis Cup awards include first place in Seattle and Amsterdam in 2013, as well as first place awards in Los Angeles, Michigan, and Seattle in 2014. In addition, CannaVest Corp. received the first place win at the in the CBD concentrate category.
CEO, Michael J. Mona, Jr commented “We at CannaVest Corp. take great pride in our Cup wins, which demonstrates our commitment to producing the highest quality end-consumer hemp and CBD products in the marketplace, the market is taking notice that our CBD Simple™ provides the most reliable, highest quality CBD concentrate available, as evidenced by our continued traction and rapid customer growth.”
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Currently trading at a very high $95 million market valuation CANV numbers have improved significantly; according to the 10Q from November 19 CANV has a strong cash position of $4.8 million in the treasury with just $400,000 in liabilities. The Company reported $7,497,616 in sales for the 9 months ended September 30, 2014 up from $1,353,720 for the same period last year.
Much has been made of the fact that CANV is not technically a pot stock; the Company sells CBD related products but this seems to matter little to speculators and CANV continues to be an excellent barometer of the pot sector in general. As pot stocks heat up across the board and lead the bb’s in trades and gains CANV is a stock to watch.
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Disclosure: we hold no position in CANV either long or short and we have not been compensated for this article.