- In MoneyTV interview, Warren Wang, CEO of CIIX, stated that CBD division has started selling in China and California, planning expansion to more U.S. states and globally to Canada and Japan
- CIIX begins two tier referral sales program of CBD in China, offering consumers a cash commission based on referred sales and an added incentive with company stock
- Citing CV Sciences, Inc. valuation, Wang projects that CIIX’s CBD subsidiary’s market cap could reach $10-20 million; he hopes it will qualify for a future OTC or Nasdaq listing
ChineseInvestors.com, Inc. (OTCQB: CIIX) subsidiary ChineseHempOil.com, Inc. is planning to expand its operations to more states in the U.S., as well as Vancouver and Toronto in Canada and Asian markets such as Japan, CEO Warren Wang said in an interview on MoneyTV with Donald Baillargeon (http://cnw.fm/GEq81). It is already selling in China and Los Angeles, California.
Wang hopes that CIIX will spin off its CBD subsidiary, ChineseHempOil.com, Inc., by year-end. “I cannot promise anything,” he noted in the interview. “But we are looking for a listing on the OTC or a national listing on the Nasdaq Exchange within 12 months.” CIIX’s CBD division includes CBD Biotechnology Co. Ltd.; Hemp Logic, Inc.; and ChineseHempOil.com, Inc., which, combined, have already built relationships with 70 retailers in the Los Angeles market.
For now, Wang said that CIIX is one of only three companies selling CBD products in China. Wang added that CIIX recently ran its first sales seminar on CBD in China from a hotel in Shanghai. The goal is to increase and broaden the company’s consumer base, he said.
“In CBD, we are now only in Los Angeles,” Wang said of the U.S. market. “After a month or two, we have plans to expand into Northern California, then to New York, Texas and Colorado. We plan to reach Chinese-Canadians in Vancouver and Toronto. We will also look in Asia, to countries such as Japan.”
In China, it is seeking to expand its CBD cosmetic product consumer base by utilizing a two-tiered sales system. It will offer to customers who generate referral sales a commission based on those sales, as well as company stock. The goal is to build ownership of CIIX among Chinese consumers, Wang said.
Wang hopes that its CBD division will perform as well as CV Sciences, Inc. (OTCQB: CVSI). In the interview, he projected a long term $10-$20 million future market cap for ChineseHempOil.com, Inc., driven in part by sales in China. After the spinoff of CBD assets, CIIX will return to its roots in consulting, brand building and educating for the Chinese-speaking community in the U.S. and international markets.
For more information, visit the company’s website at www.ChineseInvestors.com
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