The drama right now for Liberty Health Sciences Inc (OTCMKTS:LHSIF) shares is about holding key support in convincing fashion.

The cannabis space has been weathering some broad sector corrective pressure as sentiment in the general market steals the thunder from the speculative side of the action. Liberty has been disproportionately waterlogged during this phase, but there remain tantalizing levels above on a bounce at support, and technical support is already in place around the $0.60/share area.

To further flesh out the story, the company just announced that Sheri Cholodofsky has been appointed Chief Financial Officer, subject to Florida Department of Health approval. Cholodofsky replaces Jeff Chan, Liberty’s Vice President, Finance who served as interim Chief Financial Officer following the previously announced resignation of Rene Gulliver as Chief Financial Officer effective April 14, 2019. According to the release, Chan will resume his duties at Liberty as Vice President, Finance and will work closely with Cholodofsky during this transition period.

Liberty Health Sciences Inc (OTCMKTS:LHSIF) frames itself as a company that engages in the production and distribution of medical cannabis primarily in the State of Florida.

It has a strategic partnership with Veterans Cannabis Project to support various research projects focused on the treatment of service related trauma with cannabis derived products; and partnership with AdaViv Inc. to enhance production of cannabis.

The company is headquartered in Toronto, Canada.

Liberty Health Sciences was established to own and operate medical marijuana licenses in the United States. To date, the company owns one of 14 licenses issued in the state of Florida as well as 50.1% interest in a provisional processing license and a provisional dispensary license, both in Ohio. Liberty has also made an investment in a provisional medical license in the Commonwealth of Massachusetts.

According to company materials, “Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty’s measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers’ well-being at the forefront of what we do.”

As noted above, LHSIF just announced that Sheri Cholodofsky has been appointed Chief Financial Officer, subject to Florida Department of Health approval. Cholodofsky replaces Jeff Chan, Liberty’s Vice President, Finance who served as interim Chief Financial Officer following the previously announced resignation of Rene Gulliver as Chief Financial Officer effective April 14, 2019.

The chart shows 6% during the past week in terms of shareholder gains in the listing. Moreover, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 16% over what the stock has registered over the longer term.

“I am thrilled to welcome Sheri as the next CFO of Liberty,” said Victor Mancebo, Interim Chief Executive Officer of Liberty. “Her knowledge and contributions will be a valuable addition to our senior leadership team as we work together to drive decisions that are in the best interest of our patients and shareholders. Additionally, I want to thank Jeff for his dedication and support over the past several months as our interim CFO. His leadership enabled a seamless transition following the departure of the Company’s former CFO and he will continue to serve as a key member of our senior leadership team.”

At this time, carrying a capital value in the market of $209.07M, LHSIF has a significant war chest ($22.1M) of cash on the books, which must be weighed relative to about $7.2M in total current liabilities. LHSIF is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2517.1%. This may be a very interesting story and we will look forward to updating it again soon.