|ChineseInvestors.com Inc. (CIIX) to Seek Acquisition Target after CBD Biotech Spin-off|
- Growth by acquisition will be a priority following IPO spin-off, according to CIIX CEO Warren Wang
- CIIX reported significant revenue growth, with hemp and CBD sales increasing by eight times year-over-year
- Industry trend may indicate more hemp or marijuana being sourced from Columbia, or Thailand and other Asian locations, moving forward
ChineseInvestors.com Inc. (OTCQB: CIIX) is currently planning an IPO of wholly owned foreign enterprise CBD Biotech, according to CEO Warren Wang. Wang said in a news release that the company hopes for a Nasdaq IPO of CBD Biotech late in FY2019 or early the following year. CIIX would then focus on identifying an acquisition target for further growth (http://nnw.fm/k1C1T).
Wang emphasized that the CBD IPO would be a priority, followed by the acquisition search. CIIX sees CBD Biotech delivering higher CBD product distribution in FY2019, both domestically and in China. Wang added that the performance of the company’s financial services division in Q2 2019 was strong, recording a 40 percent increase in revenues over the same period of the prior year.
“As we leverage the momentum already in place, we look forward to having an even stronger second half for FY 2019,” Wang said in a news release (http://nnw.fm/lp3rT).
Wang also discussed a possible future trend regarding production and sourcing of hemp and marijuana from Asian nations such as Thailand, as well as Columbia, due to cost savings as compared to relying on U.S. and Canadian facilities. This trend impacts CIIX, because the company sells hemp-based health products in China and the United States. CIIX also owns and operates ChineseHempOil.com Inc.
Based in San Gabriel, California, CIIX is a diversified company that offers its Chinese-speaking audience investment education through real-time market commentary, video reports, podcasts and an online site. Financial consulting services are provided to client companies as well.
For more information, visit the company’s website at www.ChineseInvestors.com
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