Lightwave Logic, Inc. (OTCMKTS:LWLG) Hints At Commercialization Of New Waveguide Modulators

Lightwave Logic, Inc. (OTCMKTS:LWLG)

Lightwave Logic, Inc. (OTCMKTS:LWLG) has set its eyes on the burgeoning 100Gbps market. The developer of next generation photonic devices and nonlinear optical polymer materials has unveiled a new strategy focused on popularizing the new 25Gps ridge waveguide modulator.

Popularizing 25Gbps Modulator

The company is in the process of commercializing the 25gbps waveguide modulator by optimizing electro-optic polymers and photonic device design. Lightwave Logic, Inc. (OTCMKTS:LWLG) has already engaged the services of a packaging partner as part of the commercialization strategy.

“The team has come a long way in the past 3 months with our 25Gbps modulator, and we are now laser-focused on moving the technology from prototype to marketplace. Our team is expanding with more world-class engineers being hired to accelerate development of 25Gbps all-organic ridge waveguide modulator, as well as hone the performance,” said CEO, Michael Lebby.

The company’s ridge waveguide modulator is also suited for the $100Gbps market, presenting the much-needed leverage as the company guns for market share. Lightwave Logics has, at its disposal, new modulators similar to the 25Gbps device that it plans to use to address the 50Gbps market.

Lightwave Logic, Inc. (OTCMKTS:LWLG) is also planning to address the 400Gbps market with 50Gbp ridge waveguide modulators under development.

Commercialization Plan

Lightwave Logic, Inc. (OTCMKTS:LWLG) also plans to carry out aggressive marketing in a bid to reach a broader audience both in the datacom and telecom industries of fiber communications. The company also plans to partner with other companies in a bid to optimize work on ultra-miniaturized silicon photonics.

“2017 will be an important year for us as we progress our technology development further towards commercialization. We still have many issues to address, specifications to hone, and performance to optimize; however, by 2018 we believe our company will be in a much stronger position to engage with large partners for business development opportunities,” said Mr. Lebby.

Separately, Lightwave Logic, Inc. (OTCMKTS:LWLG)’s CEO recently represented the company at the World Technology Mapping Forum in the Netherlands where he promoted polymer PICs.

Lightwave Logic, Inc. (OTCMKTS:LWLG) stock was down 0.63% in Friday’s trading session ending the week at $1.58 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Fernhill Corp (OTCMKTS:FERN) Exploring New Opportunities

Fernhill Corp (OTCMKTS:FERN)

Fernhill Corp (OTCMKTS:FERN) has embarked on a restructuring drive following the expiration of the Golden Mountain property claims in the Montauban region of Quebec. The proposed restructuring will explore prospective targets and opportunities that have the potential to drive long-term growth.

Fernhill Restructuring Plan

Spearheading the restructuring push is the company’s new management team. The team has already shortlisted a number of opportunities in the energy and technology spaces that it plans to scrutinize.

“The reorganization of the company operations will help focus on activities that will drive long-term growth and help maximize shareholder value. To better achieve this goal, the company plans to position itself accordingly and will work to reduce shareholder risk by having multiple asset and or technologies. Management plans to create new wholly owned subsidiaries under a Fernhill corporate umbrella in order to facilitate a bidirectional multi-asset plan moving forward,” Fernhill Corp (OTCMKTS:FERN) in a Press Release.

Fernhill Corp (OTCMKTS:FERN) plans to use the reorganization to create a more flexible global platform that can generate long-term shareholder value. Investors should see acquisitions and partnerships come into play as part of the reorganization.

Omnivance Advisors Selection

Fernhill Corp (OTCMKTS:FERN) has reiterated a commitment to shareholder transparency as it undergoes restructuring. Omnivance Advisors was selected to ensure transparency, credibility, and awareness with the investment community that will help maximize the company’s image as well as shareholder value. Omnivance is to be compensated through cash and stock payments.

“In the upcoming weeks, there will be many corporate changes taking place. As part of our strategy, we believe that Omnivance Advisors can help increase the public awareness and maximize shareholder value. Fernhill looks forward to working closely with Mr. Wong and his team,” said CEO, Adam Kovacevic.

Conference Call

Separately, Fernhill Corp (OTCMKTS:FERN) will hold its first conference call for shareholders and the financial community on August 24, 2017. During the call, the company plans to address major questions regarding business development as well as financial guidance for the current quarter and full year.

Fernhill Corp (OTCMKTS:FERN) stock was unchanged in Friday’s trading session, ending the week at $0.0074 a share

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Dewmar International BMC Inc. (OTCMKTS:DEWM) Inks KW Brand Deal

Dewmar International BMC Inc. (OTCMKTS:DEWM)

Dewmar International BMC Inc. (OTCMKTS:DEWM) has signed a licensing agreement with KW Brands LLC as it moves to expand its footprint in the restaurant business. Under the terms of the agreement, the company is to operate the Willie’s Duck Diner restaurant – owned by Willie Robertson.

Diversification Drive

Buoyed by the licensing agreement, Mr. Robertson expects the partnership to help strengthen Duck Diner’s operations and financial health. Duck Diner has reportedly grossed more than $2 million over the past few years and Dewmar International BMC Inc. (OTCMKTS:DEWM) plans to improve on that performance.

“I am very excited for the opportunity to work with Willie on this project that is near and dear to him and his family; our goal is to expand upon their last 3 years of success to massively increase visibility, sales, and profitability while sticking with their families good Christian morals,” said Dewmar International BMC Inc. (OTCMKTS:DEWM) CEO, Dr. Marco Moran.

Willie’s Duck Diner is currently undergoing renovations as part of an effort that seeks to increase capacity. Plans are also underway to revamp its menu to give it greater mass appeal. However, the chain plans to retain the unique Louisiana Southern-style flavor in a bid to distinguish itself in the highly competitive food business.

Financial And Corporate Highlights

Separately, Dewmar International BMC Inc. (OTCMKTS:DEWM) reported financial results and corporate highlights for the past three years. The diversified operating company says its 2015 revenue totaled $3.3 billion but dropped to $630 million in 2016.

Dewmar International BMC Inc. (OTCMKTS:DEWM)’s business continues to self-fund all operations. Reinvestment of profits into new product development, acquisitions, and new business development has helped the company to continue growing while expanding into other areas of operations. The company’s asset base as of March 31, 2017, totaled $3.8 billion.

In 2014, Dewmar International BMC Inc. (OTCMKTS:DEWM) expanded into the cannabis industry with the formation of United States Hemp Corporation – a wholly owned subsidiary based in Denver. In 2015, the company engaged the services of a Colorado bakery for the manufacturing of hemp-infused baked goods.

Last Year, Dewmar International BMC Inc. (OTCMKTS:DEWM) expanded its hemp-infused baked goods portfolio by contracting the services of a bakery in Arizona.

“I’m extremely proud of the work that we have done over the past few years to eliminate all toxic funding from our balance sheet, grow the company’s revenue base by successfully expanding into new markets and reinvesting profits into the business,” said Dr. Moran.

Dewmar International BMC Inc. (OTCMKTS:DEWM) stock was up 16.67% in Friday’s trading session to end the week at $0.00770 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

EnSync Inc (NYSEMKT:ESNC) Contracts Power Purchase Agreement

EnSync Inc (NYSEMKT:ESNC)

EnSync Inc (NYSEMKT:ESNC) has announced entering into a 20-year Power Purchase Agreement (PPA) with Easter Seals Hawaii in a bid to help offset the company’s local electricity prices. EnSync Inc is a major provider of the highly innovative internet of energy (IOE) control platforms and distributed energy resource (DER) systems for industrial, commercial, and multi-tenant building markets

The agreement will entail installation of ground-mounted 122-kilowatt solar panel which will be located at the non-profit’s power facility. Easter Seals Hawaii is a nonprofit that specializes in empowering adults and children with disabilities by offering services like rehabilitation, job training, facilities-based care, home and community-based services – among others. Easter Seals has been serving Hawaii for the last 70 years and annually records over 600,000 hours of services to families and individuals living in the state.

In a statement, EnSync Inc (NYSEMKT:ESNC) CEO and President, Brad Hansen, said the Hawaiian electricity PPA market has proved to be a profitable avenue for EnSync Energy to spread its presence and demonstrate its business model.

Easter Seals Hawaii Chief Executive Officer, Ron Brandvoldon, said non-profit organizations are always trying to lower operating costs. He added that their services are always in high demand which calls for the need to manage their operating cost so as to be able to serve as many people as possible. Easter Seals Hawaii board chairman Michael Hulser said they are pleased to have the energy community help the organization remain sustainable while at the same time cutting on its operating costs. The project between Easter Seals Hawaii and EnSync Inc (NYSEMKT:ESNC) is at an advanced stage of construction and development and is scheduled for completion by the end of this year. At the moment, EnSync Energy has a total of 18 running projects in Hawaii. Some other projects are still under construction or have been contracted.

During the Thursday session, EnSync Inc (NYSEMKT:ESNC) reported a -37.03% or -$0.185 drop to trade at $0.315

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Positive ARI Network Services, Inc. (NASDAQ:ARIS) Preliminary Q3 2017 Results

Positive ARI Network Services, Inc. (NASDAQ:ARIS)

ARI Network Services, Inc. (NASDAQ:ARIS) has announced certain unaudited preliminary financial results for the third quarter ended April 30, 2017. ARI Network Services is a provider of software tools, SaaS, and marketing services used by distributors, dealers, and manufacturers of Sell More Stuff!™.

While commenting on the results, ARI Network Services, Inc. (NASDAQ:ARIS) President and CEO Roy W. Olivier said the company delivered strong results in the third quarter. He noted that the company’s revenue increasing by 12%. The company has reported double digit EPS compared to last year. The company’s revenue is expected to range between $13.4 million and $13.5 million.

In addition, ARI Network Services, Inc. (NASDAQ:ARIS) expects to record fully diluted GAAP earnings per share between $0.06 and $0.08 compared to the $0.03 that was reported in the third quarter of last year. The company concluded its tax study for the quarter and I projecting development and tax research credits amounting to between $450,000 and $650,000 or $0.02 and $0.04 on every share. The company is projecting cash from its operations to increase between 20%-23% and fall between $3.1 million to $3.2 million.

These results are provisional and subject to completion of the company’s quarterly closing and review procedures. In other news, ARI Network Services, Inc. (NASDAQ:ARIS) announced entering into a definitive agreement that will see the company acquired by True Wind Capital Management, LLC’s affiliate. True Wind Capital Management is an equity firm based in San Francisco that specializes in investing in major technology companies.

Under the agreement, shareholders of ARI Network Services, Inc. (NASDAQ:ARIS) will be entitled to $7.10 in cash for every share of ARI common stock they own. The price represents a premium of around 33% of the company’s average closing prices of 60 trading days up to June 20, 2017. The whole transaction will be settled in cash and will represent an enterprise value of around $140 million. The transaction has been unanimously approved by the Board of Directors of ARI.

While commenting on the transaction Olivier said they are pleased with the True Wind partnership. He added that the transaction is an outcome of a long process and they are optimistic that it will be valuable and beneficial to the shareholders. Olivier said the

investment made by ARI Network Services, Inc. (NASDAQ:ARIS) will go toward accelerating the company’s speed of innovation as well as put it in a better position to capitalize on future growth.

ARI Network Services, Inc. (NASDAQ:ARIS) shares recorded a 0.43% or $0.03 gain to close the Tuesday session at $6.99

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Hemisphere Media Group Inc. (NASDAQ:HMTV) $25 Million Repurchase Program

Hemisphere Media Group Inc. (NASDAQ:HMTV)

Hemisphere Media Group Inc. (NASDAQ:HMTV) has announced plans to repurchase $25 million worth of its Class A common stock. The repurchase program comes on the heels of a stellar Q1 where the company reported robust advertising revenue and subscriber growth.

Hemisphere’s Robust Growth

Hemisphere Media Group Inc. (NASDAQ:HMTV) continues to experience robust growth in the U.S. and Latin America markets. A 7% growth in subscribers and a 9% increase in adjusted EBITDA in the first quarter has confirmed the company’s strategic growth plan thereby justifying the repurchase program.

“We believe that our consistent strong performance, financial strength, differentiated business model and long-term growth prospects are not appropriately reflected in our current stock price. The stock repurchase program authorized by our Board of Directors underscores our commitment to creating shareholder value, while not impeding the financial flexibility to continue to invest in our business and pursue our acquisition strategy,” said CEO, Alan Sokol.

Hemisphere Media Group Inc. (NASDAQ:HMTV) has embarked on a strategic investment plan that the chief executive officer believes will translate into a significant long-term value. In addition to the REMEZCLA’s investment, Hemisphere Media Group Inc. (NASDAQ:HMTV) has also made a significant investment in Canal Uno, a joint venture in Colombia. The investments are part of an effort that seeks to strengthen the current portfolio of offerings while broadening the target audience.

Stellar Q1 Results

For the first three months of the year, the company reported net revenues of $33.2 million compared to revenues of $31 million reported in Q1 2016. Hemisphere Media Group Inc. (NASDAQ:HMTV) attributes the 7% increase to an increase in subscriber and retransmission fees, due to subscription base growth.

Hemisphere Media Group Inc. (NASDAQ:HMTV) also recorded an increase in advertising revenues helped by a growing market share in Puerto Rico as well as the success of the World Baseball Classic. An amendment to the company’s Term Loan and Strategic Investment activity resulted in a 10% increase in operating expenses that came in at $26.1 million.

Net income in the quarter grew by 9% to $14.5 million compared to $13.3 million reported in Q1 2016. Hemisphere Media Group expects its adjusted EBITDA for the year to increase by single digit percentage, driven by growth in subscriber and retransmission fees as well as advertising revenues.

Shares of Hemisphere Media Group Inc. (NASDAQ:HMTV) were up by 3.59% in Wednesday’s trading session ending the day at $11.55.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $HMTV and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Shares of Integral Technologies, Inc. (OTCMKTS:ITKG) Boom!

Integral Technologies, Inc. (OTCMKTS:ITKG)

Integral Technologies, Inc. (OTCMKTS:ITKG) was up over 220% today on massive volumes. Shares of the hybrid plastics designer and manufacturer traded over 13.3 million times today. ITKG shares have a listed 30-day, daily average daily trading volume figure of barely over 1 million. Shares closed yesterday at $0.028 and ended the day at $0.09.

The catalyst for the increase in price and share volumes was the announcement that Integral Technologies, Inc.(OTCMKTS:ITKG), through its wholly owned subsidiary ElectriPlast Corp., and its ElectriPlast material has been chosen by a leading European electric luxury SUV maker for use in a high voltage connector.

Mo Zeidan, CTO of ElectriPlast, stated, “We are excited about winning this order with such a prestigious automaker with a globally renowned brand and appreciate the vision that our Tier 1 partner has in implementing ElectriPlast conductive plastic as part of their EMI shielding portfolio,”

The order is ElectriPlast’s first European automotive commercial order and will run through 2024.   Volumes for the program will be finalized once the complete global vehicle rollout plan is disclosed. Two million electric vehicles were on the road globally in 2016, that number is estimated to reach 70 million by 2025.

Integral Technologies, Inc.(OTCMKTS:ITKG) reported Q4 2016 revenues at $27,000 and that number came in lower for Q1 2017 at $24,000. For the same periods, Integral Technologies reported losses in net income of $731,000 and $1.19 million. For Q1 2016, total assets were listed at $218,000 and for Q1 2017, that figure shrank to $163,000. Meanwhile liabilities increased from $2.7 million to $3.6 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ITKG and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Sphere 3D Corp. (NASDAQ:ANY) Diversifies Offerings

Sphere 3D Corp. (NASDAQ:ANY)

Sphere 3D Corp. (NASDAQ:ANY) has unveiled new HVE appliances that support Non-Volatile memory express technology. The data management solutions providers expect the NVMe enabled appliances to allow for over 3 times read/write performance compared to standard SSD only platforms.

NVMe Technology Capabilities

The new NVMe appliances are currently available for orders through authorized resellers and distribution in North America. Some of the configurations available include 1U and 2U form factor that can support 50-800 virtual desktops. There is also high-density 2U, 4 node platforms that offer support for 100G Ethernet interfaces.

The unveiling of the new appliances expands Sphere 3D Corp. (NASDAQ:ANY) reach in an NVMe market that is growing fast with a 95% CAGR rate. Initial estimates indicate that up to 60% of enterprise storage appliances will adopt NVMe technology by 2020. The fact that the technology offers a standard access method capable of reducing latency while improving storage performance should fuel adoption.

NVMe technology continues to grow in popularity as it allows for faster processing and a large data capacity. The technology is often referred to as ‘Flash 2.0’ and can be used for handling mission-critical business applications.

“The HVE NVMe solution coupled with our proprietary software defined storage, our Desktop Cloud Orchestrator™ (DCO) software, and our VDI software is what differentiates our offering from others in the market. Our introduction of these NVMe appliances furthers our mission to revolutionize the approach to virtualization of intense workloads like database access (OLTP), server virtualization, desktop virtualization, and high transaction based applications,” said Vice President of Virtualization, Dave Harmon.

Sphere 3D New By-Laws

Separately, Sphere 3D Corp. (NASDAQ:ANY) has scheduled a special shareholders meeting on June 27, 2017. The company’s board of directors adopted a new bylaw that establishes a framework for the nomination of directors. The bylaw outlines deadlines by which shareholders must issue notice for director nominations prior to any annual and special shareholders meeting.

The board of directors has also modified the quorum requirement. Shareholders’ future meetings will proceed as long as there are at least two persons holding or representing no less than 25% of the total issued shares. The Advance Notice By-Law and amendments are part of the agenda in the upcoming special seating.

Sphere 3D Corp. (NASDAQ:ANY) was up by 21.18% in Tuesday’s trading session to end the day at $0.152 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ANY and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Lipocine Inc. (NASDAQ:LPCN) Trades Higher On Candidate Efficacy Results

Lipocine Inc. (NASDAQ:LPCN)

Lipocine Inc. (NASDAQ:LPCN) has reported positive efficacy results regarding its Dosing Validation and Dosing Flexibility studies for oral testosterone candidate 1021. According to Lipocine, the study results validate a fixed dose approach without the need for dose titration.

Topline LCPN 1021 Results

Study results indicate that LPCN 1021 achieved all of the predetermined FDA primary efficacy guidelines. 70% of the subject’s average testosterone levels were restored and 81% of the subjects achieved average testosterone levels. The trial also confirmed that twice-daily dosing would be the appropriate dosing regimen.

“We are pleased with the confirmation of LPCN 1021 efficacy, especially with a more practical patient and physician preferred “no titration” dosing regimen. We believe the results should address the label-related deficiency cited by the FDA in our NDA submission. We consider LPCN 1021 to be a differentiated TRT option for treating hypogonadism in men with the potential to both improve patient compliance and eliminate the risk of testosterone transference,” said Lipocine Inc. (NASDAQ:LPCN) CEO, Dr. Mahesh Patel.

Lipocine Inc. (NASDAQ:LPCN) is developing LCPN 1021 as an oral testosterone replacement therapy designed to help restore normal testosterone levels in hypogonadal men. Current treatment options rely on short acting injectable products. The company wants to do away with these treatment options given that they carry an FDA ‘black box’ warning.

Lipocine Pipeline

In addition to LCPN 1021 DF study, Lipocine Inc. (NASDAQ:LPCN) is currently undertaking preclinical toxicology tests for LCPN 111. Trials should be complete by midyear paving way for an end-of-phase 2 meeting with the FDA. The company expects approval sometime in 2019 with the drug set to go on sale in 2020.

LCPN 1107 is another candidate drug that Lipocine is working on as a novel prevention option for recurrent preterm birth. Lipocine Inc. (NASDAQ:LPCN) expects LCPN to become the first oral HPC product for prevention of preterm birth in women with a prior history. Its potential benefits, when compared to injectable products, include the elimination of pain and site reactions associated with injections.

Separately, law firm, Robinson Arroyo LLP, has lodged a class action complaint against Lipocine. The law firm alleges that the company misled investors on Phase 3 clinical results for its candidate drug 1021. The company officials are accused of using a different dosing scheme compared to the one described in the New Drug application.

Lipocine Inc. (NASDAQ:LPCN) stock was up by 5.47% in Tuesday’s trading session to end the day at $4.24 a share.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $LPCN and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

CV Sciences Inc (OTCMKTS:CVSI) CEO Subject of SEC Civil Action

CV Sciences Inc (OTCMKTS:CVSI)

Michael Mona, Jr., CEO of CV Sciences Inc (OTCMKTS:CVSI) is the subject of a civil action by the U.S. Securities and Exchange Commission (SEC) that includes allegations of accounting fraud regarding the company’s 2013 asset purchase of PhytoSphere Systems from Medical Marijuana (OTCQB:MJNA). Shares of CVSI are down over 18% at $0.247 with less than one hour of trading left. Volumes are heavy. CVSI has a 30-day, daily average volume of 273,000 shares but today over 2.5 million shares have traded hands.

In the SEC complaint, CannaVEST, the precursor to CV Sciences Inc (OTCMKTS:CVSI), reported the acquisition of PhytoSphere Systems LLC. The acquisition included existing rights to hemp production and processing facilities, for $35 million. However, the SEC alleges that Mona knew that the agreed valuation was significantly overstated. The SEC alleges in the complaint that CannaVEST agreed to the inflated valuation because CannaVEST would pay for PhytoSphere Systems with, primarily, shares of CannaVEST which Mona believed had little value at the time.

The SEC complaint goes on to describe the accounting fraud it believes took place. CannaVEST, now CV Sciences Inc (OTCMKTS:CVSI), wrote down the acquisition value to $8 million on the Form 10-Q filed by CannaVEST in their Q# filing. However CannaVEST failed to publicly disclose the inflated valuation. That failure would have led to Q2 and Q3 balance sheets being materially overstated. According to the complaint, in April 2014, at the request of its new auditors, CannaVEST restated the three quarterly filings for 2013 in order to report PhytoSphere’s $8 million value, not the $35 million it had previously reported.

The SEC’s complaint charges CannaVEST with fraud, filing false financial reports, and other federal securities law violations, and seeks a permanent injunction and civil money penalties. The complaint charges Mona with fraud and other violations, including the deceit of auditors, and seeks a permanent injunction, civil money penalties, an officer and director bar, and reimbursement of his $10,000 cash bonus for 2013, as provided for under Section 304(a) of the Sarbanes-Oxley Act.

A review of the CV Sciences Inc (OTCMKTS:CVSI) website revealed no acknowledgement of the SEC complaint or the charges against the CEO. However an announcement was released by the company today that CV Sciences Inc is pursuing an Investigational New Drug application with the FDA for their smokeless tobacco addiction therapy.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $CVSI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.