CV SCIENCES, INC. (OTCMKTS:CVSI) Files An 8-K Regulation FD Disclosure
Item 7.01Regulation FD Disclosure
On June 19, 2017, CV Sciences, Inc. (the Company) announced the
results of its pre-IND meeting with the U.S. Food and Drug
Administration (FDA) held on June 15, 2017. A copy of this
announcement is attached hereto as Exhibit 99.1 and incorporated
herein by reference solely for purposes of this Item 7.01
disclosure.
The Company also announced that on June 15, 2017 the Securities
and Exchange Commission filed a Complaint against the Company and
the Companys President and Chief Executive Officer, as more
particularly described in Item 8.01 of this Current Report on
Form 8-K. A copy of this announcement is attached hereto as
Exhibit 99.2 and incorporated herein by reference solely for
purposes of this Item 7.01 disclosure.
Exhibits 99.1 and 99.2 each contain forward-looking statements.
These forward-looking statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict. Forward-looking statements are based
upon assumptions as to future events that may not prove to be
accurate. Actual outcomes and results may differ materially from
what is expressed in these forward-looking statements.
The information set forth under Item 7.01 of this Current Report
on Form 8-K (Current Report), including Exhibits 99.1 and 99.2
attached hereto, is being furnished and shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or otherwise subject to the
liabilities of such section. The information in Item 7.01 of this
Current Report, including Exhibits 99.1 and 99.2, shall not be
incorporated by reference into any filing under the Securities
Act of 1933, as amended, or the Exchange Act, regardless of any
incorporation by reference language in any such filing, except as
expressly set forth by specific reference in such a filing. This
Current Report will not be deemed an admission as to the
materiality of any information in this Current Report that is
required to be disclosed solely by Regulation FD.
Item 8.01Other Events
On June 19, 2017, the Company learned that on June 15, 2017, the
Securities and Exchange Commission (the SEC) filed a Complaint
against the Company and Michael Mona, Jr., the Companys President
and Chief Executive Officer. The Complaint alleges that the
Companys financial reporting of its acquisition of certain assets
from PhytoSphere Systems, LLC in 2013 (the Transaction) was
improper, and constitutes fraud. More specifically, the SEC
contends that the Companys quarterly reports on Form 10-Q for the
first three quarters of 2013 improperly reported the Transaction.
The SEC bases its claims against the Company and Mr. Mona on the
position that the Companys reporting of the Transaction in 2013,
and prior to its restatement of those financial reports in April
2014, overstated the value of the Companys assets.
The Complaint alleges that Mr. Mona personally benefitted from
the alleged fraud by receiving a holiday bonus of $10,000 in
December 2013.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits
99.1Press Release, dated June 19, 2017.
99.2Press Release, dated June 19, 2017.
CV Sciences, Inc. ExhibitEX-99.1 2 cvscience_8k-ex9901.htm PRESS RELEASE Exhibit 99.1 CV Sciences,…To view the full exhibit click here About CV SCIENCES, INC. (OTCMKTS:CVSI)
CV Sciences, Inc. is a life science company. The Company operates in two segments: specialty pharmaceuticals and consumer products. The Company’s specialty pharma business segment is focused on developing and commercializing therapeutics utilizing synthetic Cannabidiol (CBD) across several therapeutic areas. The consumer product business segment is focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
