Phoenix Life Sciences International Limited (OTCMKTS:PLSI) shares continue to look ripe for some potential action as the stock holds key support at the 200-day moving average in recent sessions. The company is a relatively new player on the cannabis playing field, but one with obviously very big plans. That is further supported by its news out on Wednesday.
Specifically, the company just announced its new Board of Directors and executive team, which includes some pretty impressive characters. “We have strategically selected these dedicated professionals based upon their ability to deliver and find creative solutions to help the company grow,” said Chief Executive Officer of Phoenix Life Martin Tindall. “I look forward to working with this talented team and know that we will continue to be successful in our commitment to the vision of life-enhancement through better healthcare.”
Phoenix Life Sciences International Limited (OTCMKTS:PLSI) is an adaptive healthcare solutions company. PLSI is in business to advance research and integrate programs and manufacturing of products that target and treat diabetes, pain, cancer, and address psychological, gastrointestinal, autoimmune, neurological and sleep disorders.
The company strives to create partnerships and integrate these programs for human health into communities worldwide as part of its Global Health Initiative.
According to company materials, “Phoenix Life Sciences International Limited is headquartered in Denver, Colorado. Over the past four years, many of our partner organizations have worked hard to develop and access a broad range of industry and pharmacology specialists. The partnership includes botanists, biologists, industrial and organic chemists, medical doctors, researchers, packagers and distributors. We are delighted to announce that in September 2018 we merged many of these partnerships and affiliations together under the name Phoenix Life Sciences International Limited. Without the support and collaboration of many individuals, this vision wouldn’t have been realized and we thank them for their global vision.”
A Solid Foundation
“It was important for Phoenix Life Sciences International to select individuals that believe in our mission to create a global platform for the reintroduction of plant-based pharmaceuticals, including medical cannabis products, into mainstream healthcare,” continued Tindall. “This new team is comprised of key leaders with decades of cumulative years of experience and I feel confident that we will make great strides together.”
Most centrally, Martin Tindall has been appointed as the company’s Chief Executive Officer.
According to the release, “He has held various roles including Chief Information Officer at Bartercard and Executive Director of Kronos International Investments, working with clients in a wide range of industries. Tindall founded Phoenix Life and its related companies after losing his father to chemotherapy in treating pancreatic cancer. Today, driving the vision for a better future for healthcare, Tindall leads the Phoenix Team.”
At this time, carrying a capital value in the market of $523.28k, PLSI has virtually no cash on the books, which compares with about $2.1M in total current liabilities. One should also note that debt has been growing over recent quarters.
However, the growth that is starting to heat up the top line grants speculators some interesting fuel to see the potential upside ahead: y/y quarterly revenues are growing at 541.4%.
We will update the story again soon as developments transpire.