ChineseInvestors.com, Inc. (OTCQB: CIIX) is raising funds in a series of offerings, equity sales and a private placement to meet its liquidity needs, even as it reported a 95% gain in its year-over-year operating revenues for the three months ended February 28, 2017. It has begun a private placement of a new series of its preferred stock to its Canadian investors. In 2016, it realized $2.3 million in proceeds from its stock sales of Medicine Man Technologies, Inc.
ChineseInvestors.com is a company which, in real-time in the Chinese language, provides analysis and educational services. It also offers consulting and advertising servies to its members. It is now focusing on the growing cannabis sector, developing online and store sales of hemp-based CBD health products. Warren Wang, chief executive officer of CIIX, said the company is in the final stages of developing websites, retail channels and marketing campaigns for the product line.
In the quarter ended February 28, 2017, it raised $5,000,043 from an offering of its Series C-2016 preferred stock. Additionally, the investors of the final $350,150 in that over-subscribed offering agreed to keep their funds on deposit with the company pending the company’s next securities placement. It was recorded on the balance sheet as an investors’ deposit. CIIX raised some $1,996,939 in cash in the nine months ended February 28, 2017, from its holdings in MDCL stock. The company still retains 41,238 shares of MDCL stock, representing $79,588 in value based on a closing market price of $1.93.
Even as its own sales performance grows, CIIX says that, since its inception, it has relied on proceeds from private placements and sales of shares of its equity securities to fund its operations. In the past two years, CIIX has realized proceeds of $2,605,000 from the issuance of its Series B-2014 stock.
For more information, visit the company’s website at www.ChineseInvestors.com
About CannabisNewsWire
CannabisNewsWire (CNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
Please see full disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
CannabisNewsWire (CNW)
Denver, CO
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
