Earnings Alert: Earth Science Tech Inc (ETST), Vitality Biopharma Inc (VBIO), Marijuana Company Of America Inc (MCOA)
Earth Science Tech Inc (OTCMKTS:ETST) reported the surge of 0.62% and closed at $1.62, with the total traded volume of 0.00 shares. During last trade its minimum price was $1.61 and it gained its highest price of $1.68 and has a total of 40.91 million outstanding shares.
Earth Science Tech, Inc., a biotechnology company, focuses on delivering nutraceuticals, bioceuticals, and dietary supplements in the areas of health, wellness, sports, and alternative medicine worldwide. It focuses on non-prescription nutritional and dietary supplements for the treatment of chronic pain, joint pain, inflammation, seizures, high blood pressure, memory loss, depression, weight management, nausea, aging, and overall wellness. The company also provides consulting services to the athletic facilities industry. Its marketing services include direct marketing, search engine optimization, public relations, email marketing, social media marketing, and development of referral programs. In addition, Earth Science Tech, Inc. retails health and wellness brands, as well as sports nutrition and dietary supplement products; and stocks and sells high grade cannabidiol rich hemp oil and products. The company was formerly known as Ultimate Novelty Sports, Inc. and changed its name to Earth Science Tech, Inc. in April 2014. The company was incorporated in 2010 and is headquartered in Boca Raton, Florida.
Vitality Biopharma Inc (OTCMKTS:VBIO) showing jumped of 0.66% and closed at $1.53, after gaining total volume of 0.00 shares. Its earnings per share (EPS) is -$0.39 and its beta value stands at 2.29 points and has total market capitalization of $28.68 million and a total of 19.29 million outstanding shares.
Vitality Biopharma Inc (VBIO) on March 7, 2017 announced the publication of an article discussing Vitality Biopharma’s (VBIO ) recent announcement of the development of a tetrahydrocannabinol (THC) molecule that exhibits far less psychoactive effect than the molecules found in the cannabis plant.
The THC molecule has shown tremendous promise in recent clinical studies. For instance, GW Pharmaceuticals’ Sativex (nabiximols) is a formulated extract of the cannabis plant that contains both THC and CBD to treat pain and muscle spasticity. The problem with THC-based therapeutics is that they are psychoactive in nature, since the molecule binds with cannabinoid receptors, changing levels of dopamine and norepinephrine neurotransmitters. This creates a “high”, and puts an upper limit on the dose of THC that can be administered for therapeutic uses.
Vitality Biopharma recently announced that it has created a library of proprietary glycosides of THC that enable targeted delivery that reduces or eliminates psychoactivity when used in oral drug formulations. The compounds are being developed as pharmaceuticals that enable site-specific targeting of THC in various tissues of the body where it can exert therapeutic effects for the treatment of pain and inflammation.
The removal of psychoactivity from the THC molecule could prove to be a breakthrough in cannabinoid science. After all, psychoactivity remains the primary side effect that is of concern to patients, physicians, as well as regulatory bodies like the DEA and FDA. The mitigation of the intoxicating effects could open the door to far more widespread medical use of THC — particularly in children and other sensitive groups where psychoactivity is of paramount concern.
Marijuana Company Of America Inc (OTCMKTS:MCOA) increased 5.15% closed at $0.0510 and traded with total volume of 0.00 shares, while the average trading remained 8.02 million shares. During last trade its minimum price was $0.05 and it gained the highest price of $0.05. Its market capitalization was $80.65 million.
Marijuana Company Of America Inc (MCOA) on March 22, 2017 announced that it has entered into a non-binding Letter of Intent (“LOI”) while performing due diligence to finalize a joint venture agreement with Bougainville Ventures, Inc. (“BV”) for the purpose of housing tenant growers engaging in the cultivation, processing and commercial availability of legal marijuana in the State of Washington.
Subject to the execution of a final definitive agreement, the terms of the LOI are that MCOA will invest up to $1 million in cash in a newly formed entity and receive 50% equity ownership and 50% share in net profits produced by the joint venture. Bougainville Ventures, Inc. will contribute its expertise in establishing facilities related to the production, processing and management for tenant growers utilizing an I-502 Tier 3 license, with leased property, established partnerships, licensing agreements and marketing relationships.
Donald Steinberg, MCOA President and CEO said, “We are looking forward to getting seed in the ground and ramping up this partnership with Andy Jagpal and Bougainville Ventures. This partnership further strengthens our supply chain and enables MCOA to produce the highest quality products at the lowest possible prices.”
“We couldn’t be happier than to have aligned ourselves with the outstanding team at MCOA,” said Jagpal, President of Bougainville Ventures, Inc. “With the management expertise that the highly skilled professionals at MCOA bring, we have insured the certainty of expanding our Washington State Greenhouse Campuses while achieving our revenue and profitability goals.”
This joint venture project is solely for the purpose of cultivation, processing and commercial availability of legal marijuana within the State of Washington only and not beyond its borders.