Company Overview of CannaVEST Corp.
CannaVEST Corp. develops, produces, markets, and distributes hemp-based Cannabidiol (CBD) products to the nutraceutical industry in the United States. It offers oil, capsules, drops, CBD powder, water soluble CBD, dietary supplements, and beauty products under the PlusCBD brand name; capsules and flavored tinctures packaged in bottles under Cibdex brand name; and beauty products containing CBD-rich hemp oil, including lotion, body wash, salve, shampoo, conditioner, and hand cream under the Cibaderm brand name. It also sells raw CBD ingredients to third parties. The company was formerly known as Foreclosure Solutions, Inc. and changed its name to CannaVEST Corp. in January 2013. The company w...
2688 South Rainbow Avenue
Las Vegas, NV 89146
Founded in 2010
Key Executives for CannaVEST Corp.
Chief Executive Officer, President and Director
Total Annual Compensation: $219.5K
Chief Financial Officer and Secretary
Total Annual Compensation: $110.0K
Vice President of Operations
Total Annual Compensation: $147.8K
Compensation as of Fiscal Year 2014.
CannaVEST Corp. Key Developments
CannaVest Corp Launches its Newest Division, CannaVest Europe
Aug 25 15
CannaVest Corp. announced an expansion effort that will build global brand presence, expand commercial relationships and increase bulk hemp oil offerings with the launch of its newest division, CannaVest Europe. CannaVest Europe made its unofficial introduction with its exhibit at the European Industrial Hemp Association'sInternational Conference in Wesseling, Germany in May 2015. Based in Dusseldorf, Germany, CannaVest Europe will serve as the European hub of its US headquartered operations.
CannaVest Corp. Announces Unaudited Financial Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 18 15
CannaVest Corp. announced unaudited financial results for the second quarter and six months ended June 30, 2015. The company's net loss for the three months ended June 30, 2015 was $2,003,068 or $0.06 per basic and diluted share, compared to net income of $8,040,430 or $0.24 per basic and diluted share for the three months ended June 30, 2014. Product sales were $2,413,886 compared to $3,005,786 a year ago. Negative adjusted EBITDA was $898,880 compared to adjusted EBITDA of $359,154 a year ago.
For the six months, net loss was $4,651,858 or $0.13 per basic and diluted share, compared to net income of $7,922,013 or $0.27 per basic and diluted share a year ago. Product sales were $5,127,938 compared to $5,637,655 a year ago. Negative adjusted EBITDA was $1,578,993 compared to adjusted EBITDA of $1,112,029 a year ago.
CannaVest Appoints Gerard McCann as Director of Sales for the Natural Product Sales Division
Jun 17 15
CannaVest the addition of Gerard 'Mac' McCann as director of sales for the natural product sales division. In the new position, McCann will continue the company's recent success and growing penetration of it's CBD products into the natural products channel as well as oversee and develop it's growing portfolio of national health food store accounts. Previously, McCann has worked at Nature's Answer, Sprunk-Jansen, Nature's Value Inc., Naturestar, Organic Therapeutics and Omni Nutraceuticals. McCann brings to his new position a wealth of experience developing national broker organizations, launching new product lines and streamlining sales and distribution networks.
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