web analytics
3.7 C
Monday, December 5, 2022

The Exciting Story of GB Sciences Inc (OTCMKTS: GBLX)

GB Sciences Inc (OTCMKTS: GBLX) has been on the rise in recent days. The stock has a long history of explosive moves running from the same $0.25 level earlier this year to highs of $1.56 a share. With gaps like that to fill and an MJ facility currently under production its no wonder everyone is jumping on this one.

GBLX is at the right place at the right time; Cannabis is booming; according to a recent report from Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe and spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. Of course much of this hinges on how laws progress

GB Sciences Inc (OTCMKTS: GBLX) bills itself as a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company’s goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. The big story on GBLX is the Company’s 36,000 square-foot grow facility in Baton Rouge located at 3550 West Teco Avenue in Las Vegas, Clark County, Nevada, which currently has their first cannabis crop now in production.

Shortly after they opened the facility GBLX announced the Teco facility with 200 lights will produce approximately 110 pounds of cannabis per month, and at that rate will generate approximately $250,000 in revenue per month, or $3.0 million per year. Over the next 18 months, we will expand to approximately 1,000 lights meaning that we can produce approximately 550 pounds of cannabis per month creating a company with run-rate revenues in excess of $15+ million per year, perhaps as much as $20-$25 million per year depending on plant yields and wholesale cannabis prices. This is from Teco alone. We have additional licenses to develop and, when recreational use is approved in Nevada in November of this year, we will be positioned to significantly increase our production, sales and revenues. Why? Because Las Vegas has over 44 million visitors a year, a number that is likely to increase with the availability of recreational cannabis. This will exponentially expand the size of the total Nevada cannabis market.

To Find out the inside Scoop on GBLX Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Earlier this year GLBX acquired an exclusive worldwide license for a cannabinoid-based time released Neuropathic pain formula. In addition, the company has signed a letter of intent for the acquisition of a Las Vegas entity with annualized revenues of up to $16 million

In August, GBLX announced first quarter revenue of $1.3 million with gross profit of $700 thousand compared to revenue of $69,100 for same period last year For the three months that ended June 30, 2018, GB Sciences, Inc. (otcqb:GBLX) reported revenue of $1,315,284 and gross profit of $734,719. This compares to revenue and gross profit of $69,100 and $54,099, respectively, for the same period the prior year. The total net loss for the three months that ended June 30, 2018 was $5,167,339 which includes $2,625,512 of non-cash charges, 40.5% of total expenses. Net loss for the same period in the prior year was $3,082,209.

Earlier this year GBLX was granted a recreational production license for the manufacture of cannabis oils.  Oils are the base ingredient for vape products, tinctures, edibles, and nutraceutical formulations. The Company received its medical marijuana production license on February 2, 2018. The State of Nevada instructed them to apply for the recreational license in June, for upgraded licenses.  The Company’s anticipated revenues from extracted and infused products were delayed by six months.  Now, with the issuance of the recreational oil production license, the Company can begin selling its tinctures, oils, vape pens and edibles with estimated revenue starting at around $100,000 per month and growing to at least $300,000 per month.

On October 16 GBLX announced the harvesting of its first hemp crop in association with the Colorado Hemp Project. Following closely on the overall philosophy and strategy of the Company, hemp is planned to provide both a reliable source of hard to find cannabinoids and terpenes necessary to manufacture cannabis-based medical formulations and also provide a fresh revenue source through the sale of bulk hemp oil and other hemp related products.

We have a Monster Pick Coming. Subscribe Right Now!

Currently trading at a $70 million market valuation GBLX has an excellent cash position of $4.6 million in the treasury and fast growing revenues with $1.3 million in sales for the 1st 3 months of 2018 up from just $69k for the same period last year. There is a lot to get excited about on GBLX; the Company currently has their first cannabis crop now in production at their 36,000 square-foot grow facility in Baton Rouge and the stock is making a powerful move up off its $0.25 base, a level it exploded to $1.56 highs off the last time the stock ran. We will be updating on GBLX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GBLX.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in GBLX either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

More articles


Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.