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Micro-Cap on the Move; Cannabis Science Inc. (CBIS)

By Warren Paige

Cannabis Science Inc. (OTC: CBIS), a company engaged in the business of developing pharmaceutical grade medical cannabis products, is seeing a sharp rise in its shares in trading today.

CBIS shares are currently trading 8.57% higher at $0.0760 on volume of 5.26 million. The stock rose to an intra-day high of $0.08.

According to a filing made by Cannabis Science this week, the company’s license revenue for the quarter ended March 31, 2012 was $25,000, up from $11,290 reported for the quarter ended March 31, 2011. The increase was due to CBIS’ license agreement with Apothecary Genetics Investments LLC. The agreement was signed on February 9, 2012.

The filing showed that CBIS’ miscellaneous revenue for the quarter was $91,135, which resulted from a gain on settlement of liabilities of $41,135 and a $50,000 gift from a stockholder for a third-party lease payout.

At the end of the quarter, CBIS had a working capital deficit of $3.30 million.

May 23rd, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.