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In last trading session, the stock price of CannaVEST Corp (OTCMKTS:CANV) jumped more than 11% to close the day at $0.495. The gains came at a share volume of 1.75 million compared to average share volume of 1.04 million.

The buzz

CannaVEST released financial report for the fiscal ended December 2015, wherein it stated that the net loss was almost $12 million compared to net loss of approximately $1.31 million for the year closed December 2014. As of December 2015, the company posted cash of nearly $0.5 million. The management confirmed that there is sufficient cash reserve and access to funds to meet working capital requirements.

The highlights

CannaVEST management reported that the company has the capital required to support its consumer product business division and meet other obligations in coming fiscal from existing cash flow and current revenues due to increased sales. The inventory levels are adequate to boost sales for 2016, resulting in lower cash requirement for inventory purchases.

The plans

 Additionally, CannaVEST do not plan to purchase raw inventory from supply chain arrangements for the 2016 crop. The pharmaceutical business division will need additional capital of nearly $1.50 million over the next twelve months. As of now, CannaVEST possess an executed term sheet related to a financing deal that would offer this capital.

The management view

Michael Mona, Jr., the Chairman and CEO of CannaVEST, said that they expanded corporate mission last year, closing with the acquisition of CanX, Inc. in December 2015. This acquisition enables the firm to be positioned as a specialty pharmaceutical firm focused on advancing and commercializing unique therapeutics using CBD.

Also, the company continue to serve its consumer product business division in manufacturing, marketing and commercializing plant-based CBD offerings to a range of sectors. The new program builds on company’s reputation, expertise and experience in CBD to support the attributes of CBD to the existing prescription drug market.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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