Cannabis Science Inc (fka CBIS)

[Crusen]

As I said, the lines of evidence against this company are many.

You could, for instance, examine the long list of PR declarations which have never come true.

For instance, this is not the first time they have promised a "divy." (Penny scams often promise this, and never deliver)

No actual convictions for Dabney, you say? There is literally a surfeit of red flags on Dabney which one would have to be a regular idiot to dismiss.

Before the Court is Plaintiff Securities and Exchange Commission's ("Commission") Motion for Reconsideration Re Denial of Imposition of Penny Stock Bar Against Raymond Dabney....The Court previously granted the Commission's Motion for Summary Judgment....The Court grants the Commission's request for civil penalties in all respects and denies both motions for reconsideration....

Third tier penalties are available where the securities law violation "involved fraud, deceit, manipulation or deliberate or reckless disregard of a regulatory requirement [and] such violation directly or indirectly resulted in substantial losses or created a significant risk of substantial loss to other persons."
The imposition of a third tier penalty against Richard Dabney is justified...

The Court will therefore grant the Commission's request for a $50,000 penalty against Raymond Dabney, Charles Smith, and Phillip Young.....
The first, third, and fifth First Pacific Bancorp factors weighed in favor of a bar because Raymond Dabney's section 5 violations were serious, taking place over a period of two years; he personally benefitted from the violations; and he was a direct participant in the offending transactions....
On November 15, 2005, Raymond Dabney entered into a settlement agreement with the British Columbia Securities Commission that prohibited him from engaging in investor relations activities for five years because he issued false press releases in connection with his company, XRAYMEDIA, Inc

Oh yeah, Ray Dabney is just a misunderstood honest executive not at all involved in stock fraud. No, he would never defraud people.


Unfortunately, it is all-too-easy for scammers to participate in stock scams over, and over, and over, and get away with it....

However, it really does not require much brainpower to see a company for the scam it is, if it is as obvious as CBIS.

The horrible financials of this charade should be an investor's first clue that THIS FRAUD STINKS!!!!

http://www.leagle.com/decision/In%20FDCO%2020100208830/SECURITIES%20AND%20EXCHANGE%20COMMISSION%20v.%20ALLIANCE%20TRANSCRIPTION%20SERVICES,%20INC.