CV Sciences Inc OTCMKTS: CVSI operates two distinct business segments: a consumer product division focused on manufacturing, marketing and selling hemp-based CBD products to a range of market sectors; and a drug development division focused on developing and commercializing novel therapeutics utilizing CBD. The Company’s PlusCBD Oil™ is the top-selling brand of hemp-derived CBD on the market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. CV Sciences has primary offices and facilities in San Diego, California and Las Vegas, Nevada. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.
On April 15th, 2019 CV Sciences Inc announced that it has appointed Deloitte & Touche LLP (“Deloitte”) as the Company’s new independent registered public accounting firm.
“Following a thorough selection process, the Company’s Audit Committee has concluded that Deloitte is best positioned to meet the evolving needs of CV Sciences. We would like to thank Tanner LLC for the quality work and expertise they have provided over the last three years,” said Joseph Dowling, Chief Executive Officer of CV Sciences.
The Company has also filed a Form 8-K with the Securities and Exchange Commission noting the engagement of Deloitte.
The company also made an upbeat notion in the market on April 10th, 2019 when it annouced further expansion of its industry-dominating brand, PlusCBD Oil™. As of March 31, 2019, PlusCBD Oil™ branded products are available in 3,308 retail stores, up 48% from 2,238 retail stores as of December 31, 2018.
The expansion includes broadening distribution of its best-selling topical, PlusCBD Oil™ Extra Strength Balm, into the Food, Drug and Mass (FDM) channel, including programs with leading national retailers.
“The passage of the 2018 Farm Bill has accelerated our business development activities and expanded our distribution to new food, drug, mass merchandise retailers,” said Joseph Dowling, Chief Executive Officer. “We are at an important stage in the development of the hemp-based CBD market, and the company is well-positioned to capitalize on both growing consumer demand and the benefit of enhanced regulation that supports and ensures the safest and highest quality hemp-based CBD products for consumers.”
CV Sciences Inc made another big press release when it appointed Joerg Grasser as Chief Financial Officer, effective March 21, 2019. The company on March 21st, 2019 annouced the major change in its top management structure.
Mr. Grasser brings to his new role more than 20 years of experience and an extensive background in accounting, finance, financial reporting and operations. He has served as Chief Accounting Officer of CV Sciences since December 2018. Prior to his role at CV Sciences, Mr. Grasser served as Controller of Ballast Point Brewing, a subsidiary of Constellation Brands, Inc. He also held senior finance positions with Sequenom, Inc. and Peregrine Semiconductor Corporation. Mr. Grasser began his career at KPMG LLP providing audit and IT advisory services, advancing to senior audit manager. He holds an MBA from the Keller Graduate School of Management, a BA from University of Regensburg, and is a Certified Public Accountant.
“Joerg’s extensive background in accounting and finance along with his strong leadership skills make him the ideal CFO for CV Sciences as we build upon our leadership talent, capabilities, and systems to support future growth,” said Joseph Dowling, Chief Executive Officer. “In Joerg’s short tenure at the Company, he has been an instrumental addition to our team, driving excellence in our financial reporting and strategic counsel to all of our corporate and financial decisions. We are very pleased to have him accept the additional responsibilities of CFO and we look forward to capitalizing on the rapidly growing opportunity that lies ahead.”