Lifestyle Delivery Systems Inc. (OTCMKTS:LDSYF) recently announced updates on its scheduled clinical trials and trademark filings. The company is currently carrying out clinical trials for CannaStrips technology’s bio-availability. In another announcement, the company announced that CSPA Group Inc, its affiliate has received LOI (Letter of Intent) for purchasing extract distillate of 1000 liters/month from cannabis oil. According to the company, the agreement is valid untill the end of this year.
The company report says that the extract distillate will not compete with the other products of CSPA and will help the affiliate of LDSFY build up the production volume of the distillate to 1000 liters/month as expected. To make sure that the production level meets the requirement, the company is planning to increase the extraction capabilities of its Adelanto facility to more than 800 liters of extraction per month.
As a part of the process to increase the capabilities of its facility, the company will install additional equipment and also make some modifications at the Adelanto facility including expanding the current working area by around 2400 sq.ft.
LDSYF scheduling clinical trials to begin in June 2018
The tagline for CannaStrips, Smoke Free Pain Relief, and its logo has been approved by the European Union and has received trademark registrations numbers from the European Union Intellectual Property Office. Similarly, the United Kingdom Intellectual Property office also offered trademark registration numbers for CannaStrips.
As per the reports, LDSYF is also awaiting an approval for trademark protection from the office in California. Incidentally, the company already has filed its application for Canadian trademark with the Canadian Intellectual Property Office in April last year. The company will start the clinical trials from June 2018 with the intention to define the bio-availability benefits of the company’s CannaStrips technology. The update reveals that these clinical trials will quantify the enhanced method of the product as compared to other delivery forms of CannaStrips.
Company Director sells 78,000 shares
Arni Thomas Johannson, Director at LDSFY recently sold his 78,000 shares of the company in transactions at an average price of $0.79. The total value of the shares is $61,620. The director bought around 107,500 shares of LDSFY on May 11 this year at an average price of $0.79/share having a total value of $84,925.