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Cannabis Science, Inc. Message Board

  • pennyscamsavior pennyscamsavior Dec 12, 2012 7:41 PM Flag

    The ugly truth

    Just read the 10K folks, it says it all, looks like a scam, sad but true.

    " there is substantial doubt as to the Company's ability to continue as a going concern without a significant infusion of capital. At September 30, 2012, the Company had minimal operations. There can be no assurance that management will be successful in implementing its plans"

    "Any future financing may involve substantial dilution to existing investors. We had been relying on our common stock to pay third parties for services which has resulted substantial dilution to existing investors."

    "For the nine months ended September 30, 2012, $517,780 in management fees"

    "On February 9, 2012, the Company established a 2012 Equity Compensation Plan that authorizes the Company to issue up to 50,000,000 common shares to staff or consultants for services to or on behalf of the Company." thats $3,000,000 dollars to the execs folks!!!!!

    "On July 20, 2012, the Company issued 30,000,000 common shares for settlement of $30,000 of stockholder debt" now we know what they think their stock is worth $0.001

    "The Company had license revenues of $0 for the quarter ended September 30, 2012"

    "For the three months ended September 30" "Net Loss" $"(2,075,761)"
    "Cash" $"9,492"

    "Accrued expenses, primarily management fees (Note 4) " $"1,336,913"

    Any company that pays its execs multiple millions per year but taking multi millions in losses every quarter and only can put ten grand in the bank for the company is prolly a scam to enrich the execs. And they have the audacity to even suggest a dividend to shareholders?!! Whats the dividend? A bunch of shares from a new class of shares? ROTFLMAO!!!

    Nuff said

    Sentiment: Strong Sell

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