Canbiola, Inc. (OTCQB: CANB) is engaged as a developer, manufacturer, and seller of a variety of hemp-based products. Shares jumped 40% on Thursday, January 31, 2019. Over the past month, Canbiola has seen an average daily volume of 3,138,461 shares. However, on Thursday, 9,132,974 shares traded hands, equating to $895,000 in dollar volume.
Shares surged on Thursday after Canbiola announced the launch of the Sustained Acoustic Medicine (SAM) wellness solution. This launch comes after the recent securing of the exclusive US distribution rights from the SAM developer, ZetrOZ Systems, LLC. SAM, “is proven in accelerating tissue healing and chronic pain reduction and is reimbursable by health insurance companies.” The SAM is the first and only “wearable low-intensity ultrasound device” to be approved by the FDA. Canbiola expects to purchase 1,650 units in 2019 for the purpose of renting out to medical offices, as well as direct-to-consumer sales. Each unit potentially represents $14,210 in gross revenue per year, according to Canbiola estimates. Marco Alfonsi, CEO of Canbiola, commented, “We are very excited in achieving this milestone of launching a revolutionary solution that addresses a much-needed void in the market to accelerate tissue healing and chronic pain reduction.” Here is the full press release detailing Canbiola’s launch of the SAM wellness solution:
Canbiola, Inc. Press Release:
HICKSVILLE, NY, Jan. 31, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Canbiola, Inc. (OTCQB: CANB) (“Canbiola” or the “Company”), a developer, manufacturer and seller of a variety of Cannabidiol (Hemp) based products such as oils, creams, moisturizers, chews, isolate, gel caps, concentrate and water, announced today the launch and availability of a revolutionary Sustained Acoustic Medicine (“SAM”) wellness solution. SAM, along with its proprietary CBD Gel Capture Patches, is proven in accelerating tissue healing and chronic pain reduction and is reimbursable by health insurance companies.
The SAM Pro 2.0 is the first and only FDA cleared wearable low-intensity ultrasound device delivering multi-hour treatment to accelerate healing and improve function for musculoskeletal injuries (muscle, tendon, ligament) and reducing chronic pain (without opioid pain medication).
Canbiola and its Duramed subsidiary have attained exclusive distribution of SAM Pro 2.0 in the United States for no-fault insurance. Under its agreement with Sam International and ZetrOZ Systems, Canbiola is committed to purchasing 100 units per month starting in January and ramping to 150 units per month by June, for a total of 1,650 units for 2019.
Canbiola’s marketing strategy is to provide equipment and services to both medical offices as well as direct to consumer. We are presently billing and collecting from the insurance companies at $58 per day per unit. Given discussions with the medical community, including doctors and patients, the Company believes the patient will use the Sam unit and pads for an average of 35 days per cycle and that each unit will cycle an estimated 7 times per year. Thus, each unit potentially provides $14,210 in gross rental revenue per year.
Canbiola Chief Executive Officer Marco Alfonsi, commented, “We are very excited in achieving this milestone of launching a revolutionary solution that addresses a much-needed void in the market to accelerate tissue healing and chronic pain reduction. Our proprietary CBD gels coupled with the unique SAM delivery system, which we have exclusive U.S. rights within no-fault insurance to, will potentially drive our acceleration of both revenues and gross margins over the next twelve months.”
About Canbiola, Inc.
Canbiola, Inc. (OTCQB: CANB) is a developer, manufacturer and seller of a variety of Cannabidiol (Hemp) based products such as oils, creams, moisturizers, chews, vapes, isolate, gel caps, concentrate and water. Canbiola has developed its own line of proprietary products as well as seeking synergistic value through acquisitions in the CBD and the medical cannabis industry. Cannabis is currently federally illegal and has legalized for medical purposes in some form in a limited number of states, but pure CBD products are legal in all 50 states. For more information about Canbiola, Inc., please visit: https://canbiola.com
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.
Article By: Andrew Rego