SA News • Fri, Sep. 12
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Comprehensive Investigation Of Cannabis Science, A Recurrence Of Misleading Investors And Executive Self-Dealing
- Market Cap of $125M, Total Revenues of $200k, Total Expenses of $87M, Total Operating Deficit of $(90)M, Shareholder Deficit of $(2.96)M.
- Series of scattered and unprofitable business endeavors.
- History of illegal and deceptive activity among executives.
- Insolvency without continued dilution of shares.
- Misleading claims with regard to research and development of key flagship products.
There are no Transcripts on CBIS.
Fri, Sep. 12, 7:59 AM
- Cannabis Science (OTCQB:CBIS) forms a joint venture with Unistraw Holdings Pte. Ltd., to develop cannabinoid-based foods, nutraceuticals and medical products. CBIS will own 50.5% of the JV and Unistraw will own 49.5%.
- Unistraw develops food and nutraceutical products that are delivered via an in-straw delivery device.
Mon, Jun. 2, 10:17 AM
- In a regulatory filing, Cannabis Science (CBIS +20.5%) discloses that COB and President Robert Melamede, Ph.D., resigned on May 20. The same day, he sold 500k Series A preferred shares to Bogat Family Trust for $500.
- Dr. Dorothy Bray replaces him.
- In a press release the company discloses health-related issues as the reason for Dr. Melamede's departure.
Wed, May. 7, 9:01 AM
- Minnesota state senators vote 48-18 in favor of legalizing physician-prescribed medical marijuana. The bill will permit up to 55 dispensing centers around the state although the health commissioner could approve additional sites.
- Patients could legally possess up to 2.5 ounces of pot to be ingested in pills, oils or vaporized just shy of combustion. Smoking weed would still be illegal.
- The bill allows for a research study to assess the effects of medical marijuana in pill or liquid form in patients with severe illnesses.
- The Senate's version differs from the House's version so more work needs to be done before it passes over the Governor's desk.
- (CANV) (CBIS) (GWPH) (MJMD) (NVLX) (RFMK) (SKTO) (VAPE) (NTRR) (MWIP) (MCIG)
Wed, Apr. 16, 12:18 PM
- Television producer Verde Media Group (VMGI +38.5%) creates a Biotech Division to capitalize on the legalized cannabis movement. The division will develop platform technologies for extracting highly purified THC and cannabidiol (CBD) and their use in various delivery systems such as sublingual, inhaled and blended with food products.
- The Biotech Division subsidiary Butazyme LLC signs an agreement with Asia-based Phoenix Energy to produce omega-3 oils.
- (CBIS) (ENDO) (HEMP) (LATF) (MWIP) (VAPE)
Fri, Apr. 4, 10:42 AM| 2 Comments
Tue, Mar. 11, 11:40 AM
- Colorado is off to a fast start collecting tax revenue from the sale of medicinal and recreational marijuana. According to Forbes, the state's January take was $1.5M for the former and $2M for the latter. The bulk of sales happen in Denver county.
- The fully-burdened tax rate can be as high as 21.1% on pot consumers.
- The state also charges a 15% "retail marijuana excise tax" that is levied on the first sale or transfer from a cultivation facility.
- The state now faces the political problem about how and where to spend the money.
- Marijuana industry stocks such as (MDBX) (CBIS) (MJNA) (GRNH) continue to generate substantial investor interest and debate.
Fri, Mar. 7, 10:40 AM
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