Boston, MA 03/19/2014 (wallstreetpr) – Definitely not a good start for CANNABUSINESS GROUP (OTCMKTS:CBGI) that skyrocketed by more than 73% yesterday. There is nothing in particular related to the company that drove its stock prices yesterday, but rather the general enthusiasm of investors kindled for the marijuana industry. While theories emerge that the stock has much to offer, there are others who are not quite comfortable with the fundamentals of it. The company holds a long track record of issuing its shares in order to either meet its debt obligations or its future development plans. Moreover, the company’s financial report also is not inspiring, which reports a dull sales number of just 950,000 against the previous year’s $1.4 million. Resultantly, the net loss too widened from $178,000 to $926,000 over the last one year. Therefore, to summarize, its difficult to say if the company would fulfill the expectations of the street in the near future.
Bioheart, Inc. (OTCMKTS:BHRT), a bio-tech firm has declared on Monday that it has formed a joint venture with Magnum Cell Therapies. The Magnum Cell Therapies’ objective is to facilitate patients with degenerative diseases with the latest of regenerative medicine therapies. Under the joint venture, Bioheart will deliver the required training and expertise so as to transfer its therapies to Magnum. The two companies will work together with the Honduran Ministry of Health, in order to extend Bioheart protocols a part of the standard care for Honduras patients as well as others in the neighboring countries. Bioheart will gain 10% ownership in Magnum Cell therapies, as per the terms of the joint venture.
Triton Distribution Systems Inc (OTCMKTS:TTDZ) opened flat today, taking a break from its record-level gains yesterday of as much as 57%, which came in light of its corporate updates. The company, which was a travel company, recently updated about its merger with a marijuana company, named, Green Cures, Inc. Though the merger sounds promising, but Triton is still a risky proposition as its taker Green Cures itself does not have any product under its belt. While the website of Green Cures assures of filling up its glass soon, but the regulatory process for attaining dispensary license and other things involved will take away another quarter atleast, until then, its better to wait and watch.