Summary

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5		-= Overview =
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7	7	CV Sciences was incorporated under the name Foreclosure Solutions, Inc. in the State of Texas on December 9, 2010. On July 25, 2013, the Company’s predecessor, CannaVest Corp., a Texas corporation (“CannaVest Texas”), merged with the Company, a wholly-owned Delaware subsidiary of CannaVest Texas, to effectuate a change in the Company’s state of incorporation from Texas to Delaware. On January 4, 2016, the Company filed a Certificate of Amendment of Certificate of Incorporation with the Secretary of State of the State of Delaware, reflecting its corporate name change to “CV Sciences, Inc.”, effective on January 5, 2016. In addition, on January 4, 2016, the Company amended its Bylaws to reflect its corporate name change to “CV Sciences, Inc.” The Company previously operated under the corporate name of CannaVest Corp. On June 8, 2016, the Company changed its trading symbol from CANV to CVSI, and continues to be traded on the OTC: QB.
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11	11	Following the CanX Acquisition, the Company has two distinct business segments, a specialty pharmaceutical segment focused on developing and commercializing novel therapeutics utilizing synthetic Cannabidiol (“CBD”); and, a consumer product segment focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
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13		-= Pharmaceuticals =
	13	+==== Pharmaceuticals ====
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15	15	The company's specialty pharmaceutical segment is developing synthetic cannabinoids to treat a range of medical conditions. Cannabinoids are compounds derived from the Cannabis sativa plant, which contain two primary cannabinoids, CBD, and Δ9-tetrahydrocannabinol (“THC”). Clinical and preclinical data suggest that CBD has promising results in treating a range of medical indications. The company acquired two product candidates in the CanX Acquisition, each utilizing synthetic CBD as the active pharmaceutical ingredient.
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17	17	The Company’s first patent-pending product candidate, CVSI-007, combines CBD and nicotine in treatment of smokeless tobacco use and addiction. There are currently no drugs approved by the U.S. Food & Drug Administration (“FDA”) for treatment of smokeless tobacco use and addiction. The company believe this product candidate will provide treatment options for this significant unmet medical need. The Company is hopeful to be in a position to file an Investigational New Drug Application (“IND”) with the FDA in the future. The company expect to hold a pre-IND meeting with the FDA during the first half of 2017 to obtain guidance on this development program. CVSI-007 is based on proprietary formulations, processes and technology that the company believe are patent-protectable, with an application that expires in 2036.
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19		-= Consumer Products =
	19	+==== Consumer Products ====
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21	21	The company manufacture, market and sell consumer products containing plant-based CBD under its PlusCBD™ brand in a range of market sectors including nutraceutical, beauty care, specialty foods and vape. The company expect to continue to add new products to its PlusCBD™ portfolio to enhance its line of CBD and hemp-related consumer products. The company also expect to develop and launch new brands to more effectively market and sell certain products. The company also sell raw materials acquired by it through its supply relationships in Europe to various customers that produce products for resale into the market.
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83	83	As of March 23, 2017, the company had a total of 39 employees; 38 full-time employees and 1 part-time employee. CV Sciences has no collective bargaining agreements with its employees and none are represented by labor unions. Management believes the Company has good relationships with its employees.
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85		-= Properties =
	85	+==== PROPERTIES ====
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87	87	The Company leases certain office space in Las Vegas, Nevada pursuant to a month-to-month lease agreement dated April 1, 2013, which provides for a monthly rent of $1,500. The landlord is a limited liability company of which a former director of the Company is the sole member.
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95	95	On November 1, 2016, the Company entered into a lease for warehouse space in Lexington, Kentucky for a term of 6 months, with an option to extend the rent period to October 31, 2017. The base rent under this lease is $2,979 per month.
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97	97	The company believe that its existing facilities are suitable and adequate for the operation of its business, including its current production capacity. CV Sciences is currently seeking to consolidate its facilities.
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99		-= References =