CV Sciences, Inc. is a company focusing on two major divisions: drug development division focusing on development and commercialization of the new therapeutics using the synthetic CBD; and manufacture, market and sell the plant-based CBD products to the market segment. The company has its headquarters in Las Vegas, Nevada (United States) and a primary division in San Diego, California. The company aims at improving the well-being of the values, products, and operations with their dedicated services and exposure.
The company operates in 2 divisions: consumer products and pharmaceuticals. These divisions have a support of the medical and scientific board with the best production facilities.
Consumer Products: The customer product division of the company has botanical based cannabidiol products having the use of lifestyle products. The products are distributed in the health stores, online and each product has a safety review associated with it. The physician recommendations and state-regulatory approvals are the backend of these products to be used in a variety of health-related platforms.
Pharmaceuticals: The pharmaceutical division of CV sciences develops synthetic cannabidiol-based medications in the pipeline to get approval from the FDA (Food and Drug Administration) of the United States for the drugs utilizing cannabidiol as the major pharma ingredient. The company has achieved the promising results for the development of cannabinoid medications for treatment of many medical ailments.
The present market capitalization of the company is $ 126.2 M with a 52-week range of $ 0.136- $ 2.78. On the first day of the month, the company announced its projection for entering an effective settlement agreement with SEC (May 31, 2018) for resolution of all the claims and matters related to the enforcement action of the Securities & Exchange Commission. There was a case filed by SEC one year back for the irregularities in the submission of the financial information and reporting related to the company’s stats. The company agreed to the judgment with a penalty of $150,000. With this proceeding, Michael J. Mona III has been appointed as the President of the company and the CEO position is given to Mr. Joseph Dowling. The matter is now settled between the company and SEC and the management is trying its best in recovering its position in the stock market.
It is communicated to the stockholders that this matter is defended in the best way and CV sciences have resolved the issue for avoiding the market issues from the outset. It is best in the interests of the shareholders to resolve the matter and capitalize on the market for the leading customer products for advanced drug development program. This is in association with the treatment of smokeless tobacco to use and addiction.
The management of the company is grateful for the services of Mike Mona for serving as a founder, leader, and visionary. There is substantial growth in the status of the company under the leadership of Mr. Mona and it is anticipated that the changes in the management will incur positive gains for the company in all the aspects.