false0001510964August 13, 2024 00015109642024-08-132024-08-13

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2024

 

CV SCIENCES, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

000-54677

80-0944970

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

9530 Padgett Street, Suite 107

San Diego, California

92126

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (866) 290-2157

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

 

 

 

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 


 

Item 2.02 Results of Operations and Financial Conditions

The information provided below in "Item 7.01 - Regulation FD Disclosure" of this Current Report on Form 8-K is incorporated by reference into this Item 2.02.

Item 7.01 Regulation FD Disclosure

On August 13, 2024, CV Sciences, Inc. (the "Company") issued a press release regarding the Company’s financial results for its quarter ended June 30, 2024. A copy of that press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.The press release includes non-GAAP financial measures as defined in Regulation G. The press release also includes a presentation of the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP), information reconciling the non-GAAP financial measures to the GAAP financial measures and a discussion of the reasons why the Company’s management believes that presentation of the non-GAAP financial measures provides useful information to investors regarding the Company’s financial condition and results of operations. The non-GAAP financial measures presented therein should be considered in addition to, not as a substitute for, or superior to, financial measures calculated and presented in accordance with GAAP.

Exhibit 99.1 contains 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 Exhibit 99.1 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 Exhibit 99.1, 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 9.01 Financial Statements and Exhibits

(d) Exhibits

 

Exhibit

Number

Description

99.1

 

Press Release of CV Sciences, Inc. dated August 13, 2024

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Filed herewith.

1


 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

CV SCIENCES, INC.

 

Date: August 13, 2024

By:

/s/ Joseph Dowling

 

Joseph Dowling

 

Chief Executive Officer

 

2


Exhibit 99.1

CV Sciences, Inc. Reports Second Quarter 2024 Financial Results

San Diego, CA - August 13, 2024 (GLOBE NEWSWIRE) - CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced its financial results for the quarter ended June 30, 2024.

Second Quarter 2024 and Recent Financial and Operating Highlights

Generated revenue of $4.0 million for second quarter 2024, consistent with $4.0 million for the second quarter 2023 and the first quarter 2024;
Recognized gross margin of 47.0% for second quarter 2024 compared to 43.3% for the second quarter 2023 and a sequential improvement from 46.3% for the first quarter 2024;
Cash balance of $0.5 million at quarter end compared to $1.3 million at the end of 2023;
Further established number one position as top-selling hemp extract brand in the natural product retail sales channel, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry;
Generated additional shelve placement and associated revenue after the launch of pet chews for hip and joint health and calming care chews;
Entered into a financing with Streeterville for net proceeds of $0.9 million;
Recognized an adjusted EBITDA loss of $6,000 for the second quarter 2024, close to achieving operating cash flow break-even;
Acquired Elevated Softgels, a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry, based in Colorado; and
Appointed Maxim Group LLC ("Maxim") as non-exclusive financial advisor and investment banker to provide strategic financial advisory and investment banking services. With the help of Maxim, the Company intends to continue to build an efficient and cost effective consumer products platform and continue to evaluate inbound and outbound merger, sale, acquisition or other options for the Company.

“We are pleased with our second quarter 2024 results. Revenues for our core business remained stable at $4 million in the second quarter 2024 despite a challenging environment. With our recently completed acquisitions and new product innovations, we are planning to grow our revenue in the second half of 2024. Our 47.0% gross margin in the second quarter 2024 is our best gross margin in the last 13 quarters,” stated Joseph Dowling, Chief Executive Officer of CV Sciences. “Our second quarter 2024 progress demonstrates our continuous commitment to innovation and cost-efficient execution as we move closer to profitability and positive cash flow. We are excited about the additional opportunities of Elevated Softgels, our most recent acquisition, which we closed in May 2024. In addition, we are thrilled to appoint Maxim as our strategic financial advisor to accelerate our organic and non-organic growth opportunities.”

Operating Results - Second Quarter 2024 Compared to Second Quarter 2023

Sales for second quarter 2024 were $4.0 million, flat compared to the second quarter 2023. Our B2B sales declined slightly by 3%, offset by a 4% increase in our B2C sales. B2C sales increased by $0.1 million to $1.7 million in the second quarter 2024 mostly due to additional revenue from our subscription customers. The total number of units sold during the second quarter 2024 decreased by 12.5%, offset by higher average sales prices per unit of 12.1%. The average sales price per unit improved due to product and channel mix. We generated an operating loss of $0.6 million in the second quarter 2024, compared to an operating loss of $1.1 million in the second quarter 2023. The improvement is mostly due to higher gross margins and reduced operating expenses. The Company had negative adjusted EBITDA of $6,000 for the second quarter 2024 compared to $0.9 million in the second quarter of 2023.


 

Conference Call and Webcast

The Company will host a conference call and webcast to discuss these results today at 10:00 am EDT/7:00 am PDT. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events or directly at https://viavid.webcasts.com/starthere.jsp?ei=1676369&tp_key=2c558c26e6. Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560. A telephone replay will be available approximately three hours after the call concludes, and will be available through Tuesday, August 20, 2024, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13747169.

About CV Sciences, Inc.

CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling brands of hemp extracts in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, +PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company's Cultured FoodsTM brand provides a variety of 100% plant-based food products. Committed to crafting nutritious and flavorful alternatives, Cultured FoodsTM caters to individuals seeking vegan, gluten-free, or flexitarian options for a wholesome and satisfying culinary experience. In addition, the Company owns Elevated Softgels, a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California, Grand Junction, Colorado, and Warsaw, Poland. The Company also operates a drug development program focused on developing and commercializing CBD-based novel therapeutics. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.

Forward Looking Statements

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements.

Contact Information

ir@cvsciences.com


 

CV SCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except per share data)

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Product sales, net

 

$

3,954

 

 

$

3,966

 

 

$

7,956

 

 

$

8,114

 

Cost of goods sold

 

 

2,094

 

 

 

2,248

 

 

 

4,243

 

 

 

4,614

 

Gross profit

 

 

1,860

 

 

 

1,718

 

 

 

3,713

 

 

 

3,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

28

 

 

 

36

 

 

 

64

 

 

 

71

 

Selling, general and administrative

 

 

2,415

 

 

 

2,758

 

 

 

4,852

 

 

 

4,914

 

Benefit from reversal of accrued payroll taxes

 

 

 

 

 

 

 

 

 

 

 

(6,171

)

Total operating expenses

 

 

2,443

 

 

 

2,794

 

 

 

4,916

 

 

 

(1,186

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

(583

)

 

 

(1,076

)

 

 

(1,203

)

 

 

4,686

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expense, net

 

 

1

 

 

 

209

 

 

 

3

 

 

 

265

 

Income (loss) before income taxes

 

 

(584

)

 

 

(1,285

)

 

 

(1,206

)

 

 

4,421

 

Income tax expense

 

 

 

 

 

3

 

 

 

6

 

 

 

3

 

Net income (loss)

 

$

(584

)

 

$

(1,288

)

 

$

(1,212

)

 

$

4,418

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic and diluted

 

 

172,418

 

 

 

152,599

 

 

 

167,823

 

 

 

152,353

 

Net income (loss) per common share, basic and diluted

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.01

)

 

$

0.03

 

 


 

CV SCIENCES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except per share data)

 

 

June 30,
 2024

 

 

December 31, 2023

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash

 

$

477

 

 

$

1,317

 

Accounts receivable, net

 

 

639

 

 

 

431

 

Inventory

 

 

5,206

 

 

 

5,655

 

Prepaid expenses and other

 

 

410

 

 

 

535

 

Total current assets

 

 

6,732

 

 

 

7,938

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

666

 

 

 

379

 

Right of use assets

 

 

451

 

 

 

167

 

Intangibles, net

 

 

106

 

 

 

78

 

Goodwill

 

 

729

 

 

 

342

 

Other assets

 

 

202

 

 

 

296

 

Total assets

 

$

8,886

 

 

$

9,200

 

 

 

 

 

 

 

 

Liabilities and stockholders' equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

2,307

 

 

$

2,309

 

Accrued expenses

 

 

3,461

 

 

 

3,422

 

Operating lease liability - current

 

 

234

 

 

 

130

 

Debt

 

 

29

 

 

 

254

 

Total current liabilities

 

 

6,031

 

 

 

6,115

 

 

 

 

 

 

 

 

Operating lease liability - net of current portion

 

 

233

 

 

 

58

 

Deferred tax liability

 

 

19

 

 

 

19

 

Other liabilities

 

 

95

 

 

 

105

 

Total liabilities

 

 

6,378

 

 

 

6,297

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity

 

 

 

 

 

 

Preferred stock, par value $0.0001; 10,000 shares authorized; 1 share issued as of June 30, 2024 and December 31, 2023; and no shares outstanding as of June 30, 2024 and December 31, 2023

 

 

 

 

 

 

Common stock, par value $0.0001; 790,000 shares authorized as of June 30, 2024 and December 31, 2023; 180,651 and 161,678 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively

 

 

18

 

 

 

16

 

Additional paid-in capital

 

 

88,291

 

 

 

87,464

 

Accumulated deficit

 

 

(85,799

)

 

 

(84,587

)

Accumulated other comprehensive income (loss)

 

 

(2

)

 

 

10

 

Total stockholders' equity

 

 

2,508

 

 

 

2,903

 

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

$

8,886

 

 

$

9,200

 

 


 

CV SCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)

 

 

Six months ended June 30,

 

 

2024

 

 

2023

 

OPERATING ACTIVITIES

 

 

 

 

 

 

Net income (loss)

 

$

(1,212

)

 

$

4,418

 

Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

139

 

 

 

118

 

Stock-based compensation

 

 

67

 

 

 

153

 

Note discount and interest expense

 

 

 

 

 

112

 

Non-cash lease expense, net

 

 

78

 

 

 

53

 

Benefit from reversal of accrued payroll tax

 

 

 

 

 

(6,171

)

Other

 

 

158

 

 

 

312

 

Change in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable, net

 

 

(200

)

 

 

148

 

Inventory

 

 

513

 

 

 

727

 

Prepaid expenses and other

 

 

125

 

 

 

2,778

 

Accounts payable and accrued expenses

 

 

(243

)

 

 

(262

)

Net cash flows provided by (used in) operating activities

 

 

(575

)

 

 

2,386

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

 

 

 

 

 

 

Acquisition of business, net of cash acquired

 

 

(40

)

 

 

 

Net cash flows used in investing activities

 

 

(40

)

 

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

 

 

 

 

 

 

Repayment of note payable

 

 

(50

)

 

 

(1,117

)

Repayment of unsecured debt

 

 

(173

)

 

 

(190

)

Net cash flows used in financing activities

 

 

(223

)

 

 

(1,307

)

Effect of exchange rate changes on cash

 

 

(2

)

 

 

 

Net increase (decrease) in cash

 

 

(840

)

 

 

1,079

 

Cash, beginning of period

 

 

1,317

 

 

 

611

 

Cash, end of period

 

$

477

 

 

$

1,690

 

Supplemental cash flow disclosures:

 

 

 

 

 

 

Interest paid

 

$

6

 

 

$

4

 

Income tax paid

 

$

6

 

 

$

 

Supplemental disclosure of non-cash transactions:

 

 

 

 

 

 

Services paid with common stock

 

$

62

 

 

$

100

 

Fair value of assets acquired, excluding cash

 

$

447

 

 

$

 

Goodwill on acquisition

 

 

393

 

 

 

 

Common stock consideration

 

 

(700

)

 

 

 

Contigent consideration

 

 

(100

)

 

 

 

Cash paid for acquisition

 

$

40

 

 

$

 

 

Supplemental cash flow disclosures:

 

 

 

 

 

 

Interest paid

 

$

4

 

 

$

3

 

Income taxes paid

 

$

6

 

 

$

 

Supplemental disclosure of non-cash transactions:

 

 

 

 

 

 

Services paid with common stock

 

$

62

 

 

$

 

 


 

CV SCIENCES, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

We prepare our consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). The non-GAAP financial measures, such as net income (loss) per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. The non-GAAP financial measures exclude non-cash compensation expense for stock options. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of the varying availability of valuation methodologies and subjective assumptions, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.

Adjusted EBITDA is defined by us as EBITDA (net income (loss) plus depreciation, amortization, interest, and income tax expense, further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.

We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of Adjusted EBITDA is useful to investors in making period-to-period comparison of results because the adjustments to GAAP are not reflective of our core business performance.

A reconciliation from our GAAP net income (loss) to non-GAAP net loss for the three and six months ended June 30, 2024 and 2023 is detailed below (in thousands, except per share data):

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income (loss) - GAAP

 

$

(584

)

 

$

(1,288

)

 

$

(1,212

)

 

$

4,418

 

Stock-based compensation (1)

 

 

37

 

 

 

35

 

 

 

67

 

 

 

153

 

Professional fees associated with legal dispute (2)

 

 

464

 

 

 

 

 

 

693

 

 

 

 

Benefit from reversal of accrued payroll tax (3)

 

 

 

 

 

 

 

 

 

 

 

(6,171

)

Note discount and interest expense (4)

 

 

 

 

 

12

 

 

 

 

 

 

112

 

Net loss - non-GAAP

 

$

(83

)

 

$

(1,241

)

 

$

(452

)

 

$

(1,488

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS - GAAP

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.01

)

 

$

0.03

 

Stock-based compensation (1)

 

 

 

 

 

 

 

 

 

 

 

 

Professional fees associated with legal dispute (2)

 

 

 

 

 

 

 

 

0.01

 

 

 

 

Benefit from reversal of accrued payroll tax (3)

 

 

 

 

 

 

 

 

 

 

 

(0.04

)

Note discount and interest expense (4)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS - non-GAAP

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.00

)

 

$

(0.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used to calculate diluted EPS - GAAP and non-GAAP

 

 

172,418

 

 

 

152,599

 

 

 

167,823

 

 

 

152,353

 

 


 

 

(1)
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
(2)
Represents legal and other professional expenses incurred during 2024 associated with the legal dispute with founder.
(3)
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
(4)
Represents amortization of OID/debt issuance costs and interest expense for convertible notes payable and notes payable.

A reconciliation from our net income (loss) to Adjusted EBITDA, a non-GAAP measure, for the three and six months ended June 30, 2024 and 2023 is detailed below (in thousands):

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net income (loss)

 

$

(584

)

 

$

(1,288

)

 

$

(1,212

)

 

$

4,418

 

Depreciation expense

 

 

71

 

 

 

59

 

 

 

130

 

 

 

118

 

Amortization expense

 

 

5

 

 

 

 

 

 

9

 

 

 

 

Interest expense

 

 

1

 

 

 

9

 

 

 

3

 

 

 

65

 

Income tax expense

 

 

 

 

 

3

 

 

 

6

 

 

 

3

 

EBITDA

 

 

(507

)

 

 

(1,217

)

 

 

(1,064

)

 

 

4,604

 

Stock-based compensation (1)

 

 

37

 

 

 

35

 

 

 

67

 

 

 

153

 

Professional fees associated with legal dispute (2)

 

 

464

 

 

 

 

 

 

693

 

 

 

 

Benefit from reversal of accrued payroll tax (3)

 

 

 

 

 

 

 

 

 

 

 

(6,171

)

Adjusted EBITDA

 

$

(6

)

 

$

(1,182

)

 

$

(304

)

 

$

(1,414

)

 

(1)
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
(2)
Represents legal and other professional expenses incurred during 2024 associated with the legal dispute with founder.
(3)
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.

v3.24.2.u1
Document and Entity Information
Aug. 13, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Aug. 13, 2024
Entity Registrant Name CV SCIENCES, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 000-54677
Entity Tax Identification Number 80-0944970
Entity Address, Address Line One 9530 Padgett Street, Suite 107
Entity Address, City or Town San Diego
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92126
City Area Code 866
Local Phone Number 290-2157
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001510964

CV Sciences (QB) (USOTC:CVSI)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more CV Sciences (QB) Charts.
CV Sciences (QB) (USOTC:CVSI)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more CV Sciences (QB) Charts.