Another Legal Medical Marijuana Company Now Public (GFON, CVIV)

By Douglas A. McIntyre Updated Mar 26, 8:54PM EDT · Published Apr 14, 6:10PM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Cannabis Science, Inc. (OTCBB: GFON), or Gulf Onshore, Inc. (GFON), is yet another public stock company which is going after the field of legalized medical marijuana. Just last week the company was called Gulf Onshore and it just changed its name to Cannabis Science, Inc. after acquiring the assets of Cannex Therapeutics LLC about 10 days ago. Last week the company also announced that it had selected its first pharmaceutical cannabis product for FDA testing. It was not even two weeks ago that a company called Medical Marijuana, Inc. (OTC: CVIV) had pursued a similar strategy in coming public after formerly being called Club Vivanet.

This new company’s description says that it is at the forefront of medical marijuana research and development, and the company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. The company is dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance.

This morning we saw a headline that the company had announced its 420 Commemorative Certificate Program and that it has engaged Capital Structure Today to provide it with branding and public/investor awareness services. In short, you can probably expect to hear more about this company in the form of headlines and news stories.

When we ran the piece about Medical Marijuana, Inc. (OTC: CVIV), we noted, “If you ever thought that cannabis, pot, weed, or hemp were not going to be applied to a public company, it looks like that has changed.” The fact that a second company is now technically public in the field in not even two weeks is just sort of a head scratcher.

This almost seems like something we’d expect to read in THE ONION, but this now has a real company and it is actually a stock if you count Pink Sheet and OTC stocks as full public companies. Sometimes the real news is almost more unbelievable than the made-up news.

Whether or not these companies take off is something we won’t speculate on. As we have noted before, there have been stranger things yet.

JON C. OGG

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.