The maker of marijuana vending machines appointed a special committee of its board.
In a controversial decision, the regulator denied EcoloCap's application for a reverse stock split.
The Internet giant's pending IPO has stoked investor confidence in China, yielding a large uptick in U.S.-traded Chinese stocks.
The newly public company has raised $20.6 million in new capital to develop and sell its technology.
Shares of Cannabis Sativa, MedBox and GreenGro soar as more states move to loosen marijuana laws.