Canadian Penny Stock Lifestyle Delivery Systems California Cannabis Extraction Lab Raided

Canadian cannabis company Lifestyle Delivery Systems (CSE: LDS) (OTC: LDSYF), which operates an extraction lab in Adelanto, California, has apparently been raided. The company’s website says that it is a “a licensed, state-compliant vertically integrated cannabis related company. From our isogenic pollination nursery to our cutting edge, state-of-the-art production facility located in Southern California, LDS has become one of the most diverse, innovative and scientifically based cannabis companies throughout North America.”

According to the Daily Press, its facility was raided on Thursday morning for operating an “illegal cannabis extraction lab”. The paper also reported building code violations. The company reported its financials on 11/29, indicating that it had invested over $6mm this year into the facility. The CSE suspended trading this morning.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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