22nd Century Group Inc (NYSEMKT:XXII) showing jumped of 3.85% and closed at $1.35, after gaining total volume of 2.27M shares. Its earnings per share (EPS) is -$0.15 and its beta value stands at 2.75 points and has total market capitalization of $127.15 billion and a total of 90.70 million outstanding shares.
22nd Century Group Inc (XXII) on March 23, 2017 announced that the Company’s research collaboration with strategic partner Anandia Laboratories, Inc. in Vancouver, Canada, has resulted in new industrial hemp plants that have zero tetrahydrocannabinol (THC), the principal psychoactive constituent in cannabis.
Cannabis sativa (marijuana, hemp) has been used for millennia as a source of fiber, food (oil and protein), medicine and as a recreational psychoactive drug. Drug type cannabis (marijuana) that is typically used for medical and recreational purposes contains high levels of THC and is defined as a Schedule 1 narcotic by the Drug Enforcement Agency (DEA). Accordingly, the presence of THC in industrial hemp is one of the biggest challenges facing the industrial hemp industry. Hemp crops are tested for THC levels; under U.S. federal law, crops containing above 0.3% THC are required to be destroyed. Currently, farmers cannot obtain crop insurance to protect against this risk. 22nd Century has developed a solution to this problem by creating industrial hemp plants that contain zero THC.
In order to build on the Company’s success with its THC-free hemp, the Company’s wholly-owned subsidiary, Botanical Genetics LLC (www.botanicalgenetics.com), has approved an additional investment of approximately $800,000 in further cannabis research with Anandia Labs. The Company’s new investment in Anandia Labs will be product-oriented and will focus on developing a range of next generation industrial hemp plants that contain optimized levels of important cannabinoids such as CBD, CBC, and CBG.
22nd Century will provide these proprietary hemp plants to the Company’s university research partners for optimization in various climates around the world. THC-free cannabis is an ideal agricultural crop and an excellent source of medically important cannabinoids; 22nd Century has the exclusive rights to commercialize the plants arising from this collaborative project in the United States.
Innovative Industrial Properties Inc (NYSE:IIPR) decreased -0.06% closed at $18.00 and traded with total volume of 19,900.00 shares, while the average trading remained 36,632.00 shares. During last trade its minimum price was $17.99 and it gained the highest price of $18.25. Its market capitalization was $63.46 billion.
Innovative Industrial Properties Inc (IIPR) on March 23, 2017 announced results for the quarter ended December 31, 2016 and for the period from June 15, 2016 (date of incorporation) through December 31, 2016.
Fourth Quarter 2016 Highlights
- The Company completed its initial public offering on the New York Stock Exchange.
- The Company acquired a 127,000 square foot industrial property in a sale-leaseback transaction with PharmaCann LLC (the “Initial Property”).
- The Company generated total revenues of $321,000 and rental revenues of $180,000, reflecting the pro rata rent paid by PharmaCann at its Initial Property in December 2016.
Initial Public Offering
On December 5, 2016, the Company completed its initial public offering on the New York Stock Exchange, issuing an aggregate of 3,350,000 shares of common stock and receiving approximately $61.1 million of net proceeds. Approximately $30.0 million of the net proceeds from the Company’s initial public offering were utilized to purchase the Initial Property. At December 31, 2016, the Company had cash and cash equivalents of approximately $33.0 million.
Earth Science Tech Inc (OTCMKTS:ETST) reported the plunge of -4.00% and closed at $1.44, with the total traded volume of 4,199.00 shares. During last trade its minimum price was $1.44 and it gained its highest price of $1.50 has a total of 40.91 million outstanding shares.
On March 9, 2017 Earth Science Tech, Inc. (ETST), an innovative biotech company focused on cannabis (industrial hemp) and cannabinoid research and development, nutraceuticals, pharmaceuticals, and medical devices, is pleased to announce it has formulated a new Cannabis CBD-based pre-workout sports supplement with Forzagen. Additionally, the company’s joint venture with Karmavore Superfoods is off to a good start, and their chocolates (infused with ETST CBD) are selling well.
The company recently announced a joint venture with Nutrition Specialties and Forzagen, (Earth Science Tech, Enters Multi-Billion Dollar Sports Supplement Industry via Joint Venture with Nutrition Specialties and Forzagen) where Earth Science Tech and Forzagen will formulate new CBD-based sports products. Earth Science Tech will help develop the market in the United States while Forzagen will develop the market in Mexico and other international accounts. Earth Science Tech, together with Forzagen, have formulated a full-spectrum CBD-based pre-workout supplement called Black Demon 2.0. The supplement was formulated for serious athletes, and is incredibly potent. Forzagen and Earth Science Tech will be splitting both the costs and revenues of Black Demon 2.0, and it is currently in the label design phase. It is expected to be bottled and start selling within Q2 or Q3 of 2017.
“We have seen great success with our non-CBD products in the past, but we are expecting even greater success with Black Demon 2.0,” said Forzagen owner, Jose Bucay, “We’ve already have competitive athletes testing the supplement, and have nothing but positive feedback in regards to Black Demon 2.0. We think we’ve got a true hit in the making.”