Rainbow Coral Corp. (RBCC) Volume up 22 times the volume average.
- Closes Up 21.78%
- Intraday high was up as much as 24.4%
Latest News for RBCC:
RBCC: North American Substance Abuse Stats Show Growing Need for Solution
Substance abuse numbers from the United States and Canada demonstrate Naltrexone has strong growth potential, strengthening Rainbow Coral Corp.’s (RBCC) plans to aggressively pursue additional partners and distribution channels to get the anti-addiction drug into as many markets as possible.
“Drug and alcohol addiction afflicts millions of North Americans struggling to free themselves from this terrible disease,” said RBCC CEO Kimberly Palmer. “The stats don’t paint a pretty picture regarding addiction, however they do represent a window for companies like ours to deliver treatments that will change lives for the better. That’s rewarding from a personal standpoint, and offers an opportunity to build a revenue stream to reward our investors on the business side.”
Wealthy and developed countries like the U.S. and Canada suffer the world’s highest rates of substance abuse. For example, 9.4 percent of Americans have used illicit drugs in the past month, according to a 2013 survey, up from 8.3 percent in 2002. Approximately 14 million Americans, 7.4% of the population, meet the diagnostic criteria for alcoholism. Meanwhile, about 11 percent of Canadians are afflicted with alcohol or drug addiction.
The costs of dealing with substance abuse are staggering, according to published reports. The disease costs U.S. taxpayers USD 700 billion per year for treatment services, employing law enforcement and related equipment. Canadian taxpayers face a C$22.8 billion tab each year to combat and treat substance abuse.
RBCC has been active in recent months and is nearing agreements with a Canadian medical group that utilizes Naltrexone to treat substance abuse and with another company to distribute Naltrexone in Canada.
For more information on RBCC’s initiatives, please visit www.rainbowbiosciences.com.
About Rainbow Biosciences
Rainbow Biosciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (RBCC). The Company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. For more information on our growth-oriented business initiatives, please visit www.RainbowBioSciences.com. For investment information and performance data on the Company, please visit www.RainbowBioSciences.com/investors.html.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.