The injection of contemporary know-how into the budding world of legal medicinal marijuana and cannabis is promoting the market record new highs and increase interaction with customers, especially when it is about cannabis subjects in the medicinal aspect of the buzzing industry. The interaction developed between the budding cannabis industry and modern know-how is allowing pioneers in pot market to use client technology engagement for many firms including Cannabis Science Inc (OTCMKTS:CBIS).
For the initial three quarters settled September 30, 2016, Cannabis Science revenue came at $8,520 versus revenue of $4,150 in the same period, a year ago. This surge in revenue can be linked to assets procurement of Equi-Pharm and also license income from offering sales. The company reported that R&D costs dropped by $116,748 to $265,024 for the initial three quarters settled September 2016 against to $381,772 in the comparable period, a year ago.
Loss on investment enhanced by $971,500 to $971,500 for the initial three quarters settled September 30, 2016 against loss on investment of $0 for the comparable period a year ago. Net loss on debt closure dropped by $349,431 to around $4.138 million for the initial three-quarters settled September 30, 2016 versus more than $4.488 million for the initial three quarters settled September 30, 2015. This drop can be attributed to the lesser sum of debt closure and reduced equity price of the company’s stock comparative to loss relating to settling debt at a bargain share price.
G&A costs declined by almost $2.628 million to almost $6.082 million for the initial three quarters settled September 30, 2016 versus $8.710 million for the same period closed September 30, 2015. This drop can be attributed to lower stock compensation cost subsequent to management consulting and bonus offers. The firm intends to close other business development assignments to record revenues, counting new license deals and other acquisitions.