Company To Report $2 Million In Revenue For The Third Quarter, Forecasting $10 Million For the Year
DENVER, CO / ACCESSWIRE / October 9, 2018 / United Cannabis Corporation (OTCQB:CNAB) (the “Company” or “United Cannabis”) today provided preliminary, unaudited figures on revenues for the third quarter 2018 and offered guidance for the year.
Revenues for the third quarter 2018 are $2 million, and approximately $4.2 for the year to date.
Although consistent with the second quarter, the results were somewhat impacted by a seasonal shortage of raw materials. The current harvest season has alleviated the seasonal shortage and, thus, Management believes the Company is still on track to report a minimum of $10 million in revenue for 2018.
The third quarter 2018 revenues amount has not be subjected to an unaudited review by the Company’s auditors, and may be subject to change upon the completions of such unaudited review.
About United Cannabis Corporation
United Cannabis Corporation is dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The Company’s products are patent protected, first in class medicines with applications to a global market. United Cannabis trades on the OTCQB under the symbol CNAB.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation
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