web analytics
7.3 C
Munich
Monday, April 19, 2021

The Fasicnating Story of Cannabis Kinetics Corp (OTCBB:CANK)

Cannabis Kinetics Corp (OTCBB:CANK) has been running in recent weeks after the Company announced a 3 for 1 and planed name change to Monarch America Inc. To this end the Company formed a wholly owned subsidiary called Monarch America Inc. which received a $1,500,000 funding agreement in the form of a promissory note.

The shell was incorporated in Nevada in 2010 as Lingas Resources, Inc; a mining Company formed to explore for Gold. They spent $5,000 buying a 7 unit claim block containing 94.5 hectares named Prosperidad Gold Mine in the Philippines. The business never went anywhere and in May of this year Cannabis Kinetics went public via reverse merger with Lingas Ventures, Inc.

Cannabis Kinetics Corp (OTCBB:CANK) hit the bb’s in October of this year at just over $1 per share marketing themselves as the new pot stock on the block; only problem was, the sector crashed in March when CANN got halted and has never really recovered since.

Looking at the chart from the first days that CANK was trading on the bb’s one see’s that the stock initially did do a significant amount of volume over $1 but it never really went anywhere. It was during this time that a short position built up as CANK traded at a $40 million market valuation on no real fundamentals.

CANK collapsed finally and hit lows of $0.60 before moving upwards on accelerating volume. This upwards move has never stopped and volume has only increased. Adding fuel to fire was the recent announcement that the Company plans to change its name to Monarch America Inc. and affect a 3-for-1 forward split of the Company’s common stock.

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

Cannabis Kinetics Corp is a fully integrated cannabis management company with an office location in the Westminster suburb of Denver, Colorado. Founded and managed by experienced marijuana industry professionals, the Company has targeted various opportunities in the Colorado marijuana marketplace with a focus on the management of recreational and medical marijuana retail dispensaries, the management of licensed marijuana cultivation facilities, production and distribution of hemp and marijuana infused food & beverage and ancillary products.

Additionally, CANK will provide management of retail and wholesale operations for grow stores and intends to pursue additional business opportunities within manufacturing, equipment leasing, real estate, product licensing and distribution, and other strategic acquisitions. Cannabis Kinetics anticipates expanding this business model into other select marijuana friendly states.

On December 2 CANK announced that its Board of Directors has approved motions to change the name of the Company to Monarch America Inc. and execute a 3-for-1 forward split of the Company’s common stock.

Eric Hagen, CEO of Cannabis Kinetics Corp., commented, “Now that we have successfully developed the Monarch brand to identify and represent our products nationally, adopting Monarch America Inc. as our new Company name will help to further connect our growing business, brand, and customers. Adopting the Monarch America name will also enable us to market and promote our current and future products and services to a much wider potential customer base than our previous name implied.”

We have a Monster Pick Coming. Subscribe Right Now!

Conclusion: CANK has traded massive volume at higher prices since hitting the bb’s in October of this year. The 3 for 1 forward split of the stock and the $1.5 million in funding are certainly positive developments for the Company. Currently trading at a $33 million market valuation CANK has just $75,000 in the treasury and no revenues to date. Unless the stock can take out the $1.29 recent highs, it may trade lower. Keep CANK on the radar.

Sign Up now for our 100% FREE Penny Stock Newsletter

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

More articles

LEAVE A REPLY

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.