Cannabis Science Inc (OTCMKTS:CBIS) confirmed the submission of its preliminary Schedule 14C form as the next initiative to complete the previously filed dividend share payout as submitted with the SEC. It covers all of the company’s shareholders in on what the pioneer firm states as a landmark growth curve.
Cannabis Science has achieved the initial target of submitting the preliminary statement highlighting the new structure program by August 2015. It has performed no reverse split as the focus is on improving shareholder value for all the parties involved.
As per the designed plans, the company will get a new unique trading ticker to accommodate a $15 million to $25 million financing it has been aggressively negotiating to boost all its drug development plans and extend its state by state measures. Once this reported financing has been closed, Cannabis Science will formally pursue the planned up listing to NASDAQ platform.
Cannabis Science has to release a new dividend to holders of company’s current common stock following which they get one share of Class “A” common stock and one non-transferable share buy warrant for each hundred shares of existing class of common stock that they earlier owned as of October 9, 2015.
Cannabis Science Inc (OTCMKTS:CBIS) has to issue the earlier reported and approved dividend that will release one share of Class “A” common stock and also one non-transferable share buy warrant for each ten shares of current CBIS common stock that they first owned as of December 31, 2010.
The management view
Raymond C. Dabney, the CEO said that all of company’s shareholders can stay assured that once they have the necessary regulatory approvals, they will publicly announce the information on how to get the dividend share payout on a regular basis.
In last trading session, the stock price of Cannabis declined more than 2% to close the trading session at $0.0360.