Cannabis Science Inc., a pioneering U.S. biotech company developing pharmaceutical cannabis products, today provided sales guidance and outlook for 2012.
The company focuses on three main markets for Cannabis Science Brand formulations for distribution: FDA approved prescriptions; OTC Non-psychoactive Neutroceuticals; and licensed dispensaries in the 16 legal Medical Marijuana states. Cannabis Science works with federal, state and local regulatory agencies, as well as similar agencies in other countries, including Health Canada.
Cannabis Science forecasts 2012 sales at $6.84 million with the potential to increase to $65.74 million, or $0.02 per share, in 2014. The above-average growth in sales and revenue from 2012 to 2014 stems from the company’s plan to expand into additional states and international markets over the next three years through the release of additional formulations and a higher number of license agreements.
This forecast includes sales from the company’s MEDBOX strategic alliance as well as revenues from its licensing fees from cannabis-extract based formulations.
“Cannabis Science announced intention to have a quarterly conference call to update shareholders and investors in 2012 to track the progress Cannabis Science is making towards its goals. This type of sales forecast communication is a great place to begin to have a more serious conversation between the company and investors both present and future, in regards to the earnings potential for our company in this industry,” Dr. Robert Melamede, CEO, president and director of Cannabis Science stated in the press release. ‘
These projected sales not only translate into shareholder value but these revenues also generate taxes into the economy and create jobs. We acknowledge and understand that these numbers are just a forecast and may be revised over time 1as we go forward and develop our global sales team.”
In addition, Cannabis Science also prepared a model to forecast sales in the event that the FDA approves the company’s license application for its cannabis-extract based formulations. In this case, the company forecasts average sales of $279.12 million in annual sales and revenue of each of the company’s cannabis-extract based formulations.
Cannabis Science said it has identified 20 different medical conditions and nine different cancers for which its formulations might generate profit for in the next ten years.
For more information visit www.cannabisscience.com
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