Cannabis Medical Solutions, Inc. (OTC:CMSI) The High Attention Period Ends Up?
21 Oct 2010

The next in row press release helped the thinly traded Cannabis Medical Solutions, Inc. (OTC:CMSI) stock keep its trading activity high yesterday, but unlike the previous three trading session the high volume had negative consequences this time.

CMSI dropped 8.57% down to $0.028. Having an average dollar volume of around $31,000, CMSI stock recorded the unusual 6.05 million share volume yesterday. The sellers were many and eager to dump their shares in the early trading at prices still above the previous day close. After that, the share price returned back towards the middle of recent trading range.

Some buyers maybe came around on the announced yesterday exclusive agreement of Cannabis Medical to provide cashless ATMs and POS banking solutions for medical marijuana dispensaries in 15 states. That does not sound like an idea that Cannabis Medical could easily realize, and traders must have decided to take what they can and leave the market since CMSI shares have already received enough of undeserved attention this week.

CMSI reported some first revenues this year, though their sources have not been mentioned in the latest filed quarter report. The company operates under that name since March this year, and also at that time it acquired a payment processing company with offices located in Florida and Tennessee. The acquired business was valued at $250,000 in total and Cannabis Medical had to pay that purchase price through issuing one millions shares of its common stock.

As the company has no other shareholder value generating assets and a minor amount of cash, the current $9.73 million market cap looks a little bit too high for a business worth not more than a quarter of a million.

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