CBD Life Sciences (OTCMKTS:CBDL) is in a range after it announced that it was making considerable progress through its LBC Biosciences Inc. subsidiary to triple cartridge production various companies.
Trading Data
On Wednesday, CBDL stock ended flat at $0.0002 with more than 202.32 million shares, compared to its average volume of 433.96 million shares. The stock has moved within a range of $0.0002 – 0.0003 after opening the trade at $0.0003.
Makes Progress to Triple Its Cartridge Production for Multinational Companies
Currently, the company is ramping up cartridges production because of demand from other multinational companies. The companies CBD Life Sciences is working with operate in the pharmaceutical industry globally.
CEO and President Lisa Nelson said that adding a new cartridge means that the company will be in a position to produce around 1000 cartridges daily. Lisa said that this would be a good way to boost revenue and access to massive growth prospects as the company continues to collaborate with more firms looking to have the cartridges on their shelves.
What differentiates the company’s cartridges is their Full Spectrum Cannabinoids has over seven CBDs offering benefits industrial hemp offers. In addition, because they use CO2 Extraction, you can find CBDa, CBD, CBG, CBN, CBGa, CBDV, and CBC in all products. So, in the coming weeks, CBDL is worth watching.
Key Quote
President & CEO Lisa Nelson states “With the addition of this new machine to make the cartridges, we can expect to make at least 1000 cartridges per day!” Lisa Nelson also states, “This will be a terrific way to increase revenue along with encountering huge growth opportunities as we continue to work with more and more companies who want our product on their shelves.”
Traders Corner
CBDL stock is trading below the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0017. The stock is down 50% in the past month.
