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You obviously know nothing about pharmaceutical development, if you think cancer research can be done at $5000 per month.
It only costs $150 to put out a press release with some nonsense that sounds good to ignorants, and pump a big bubble when market conditions are right - so why bother doing the tough and expensive work of real development??
OWC which you have mentioned is exactly the same shit - they do nothing.
The reason I'm "trolling" here is that I'm sick and tired from seeing bullshit companies such as CNBX posting fake and misleading PRs, then selling expensive stocks to suckers.
Just think of the guy who bought from the company 4,000,000 shares at 2 cents each prior to May 31st, he probably sold them above 1$ each in the boom, and made a small fortune - didn't he?
I wonder who this guy is, and what's his connection to the company?
I think the SEC should be more aware to these scams, innocent people are being ripped off - I don't like it at all.
Look at another amazing number from the 10Q report:
"Research and development expenses (for the 3 months ended in May 31, 2016): $15,530"
That's really awesome!
These guys are telling the media they are developing a cure for cancer, and it only costs them $5000 a month!!! unbelievable!!
I bet all the wise guys in Pfizer, Novartis, Eli Lilly etc feel really stupid now, spending Billions of dollars on development of novel oncology therapies, while these smart guys from Israel are doing the same for the cost of a Falafel.....
Hilarious!
Some simple math, all taken only from the latest 10Q:
"Common stock, $.0001 par value, 900,000,000 shares authorized,
107,026,665 and 101,503,333 shares issued and outstanding at
May 31, 2016 and August 31, 2015, respectively"
Conclusion: in these 9 months 5,523,332 new shares were issued.
"During the nine month ended May 31st, 2016 the company issued to service providers 1,290,000 shares.
Conclusion: 4,233,332 new shares were issued for financing purposes. How much money was raised?
"Proceeds from sale of common stock (August 31,2015 to May 31,2016): $94,000"
Conclusion: The company raised $94,000 at a price of $0.022 to investors in the last 9 months ended in 31 May, 2016.
Read again - that's 2 cents per share.
This is the price real investors were willing to pay for the stock, and more important - the price for which the company was willing to sell.
And you think that 80 cents is a bargain???
My English may be broken (indeed, I am not a native speaker), but hell, I do know some simple math.
My dear friend,
You should keep in mind that Israel is a very small country, the cannabis community is even smaller, everybody knows everybody, everybody talks to everybody.
When someone is constantly telling lies and fucking around screwing everybody, very soon the shit floats, and people tell each other to beware of doing business with the liar.
Some more weeks pass by, and we here in the US hear the truth.
Anyway, it's 5 AM here in Bocca Raton now, Friday night, and the party in ON.
Bob Marley has just sung again his eternal words - "You can fool some people sometime, but you can't foll all the people all the time".
You'd better listen to him - he sure knows...
LOL LOL LOL
Quite the opposite, actually.
The Feb 2015 8K announced that the collaboration agreeement with the Technion is planned to last a year initially, so we should have gotten another 8K in Feb 2016, announcing that the collaboration agreement is renewed and extended.
did we get one?
No we didn't.
So the bottom line is - no collaboration with the Technion exists.
Q.E.D
In addition - no new research collaboration with any research institute was announced, so please tell me yourself - where does the "company" is doing their so called "high throughput cancer research"
Where???
Do you have an answer?
Look darling,
I actually don't have to prove anything.
I'm just sharing with you guys here what I've heard, and you may do with this information whatever you'd like.
You actually don't have to read my posts at all if you don't like them - just skip them and move ahead, there are many other posts to read on this board and other boards.
However - don't you find it a bit funny that the "company" announced with great pride back in Feb 2015 their new collaboration with the Technion (http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10490620), but ever since then not a single word appeared in the media about this endeavor?
The only reason is that it doesn't exist anymore, unfortunately for the opportunistic guys...
What can you do? life's a bitch, you fuck up once and twice and don't pay the people you buy services from, then they don't want to work with you anymore.... Such a bad Karma...
Sure, you deserve to know the truth.
So the facts are the following:
As you probably know, the "company" doesn't have any facilities of its own - not even an office, let alone a lab.
So my friend tells me that the "high throughput machine" they claim to be using to develop "personalized cancer therapies" actually belongs to an academic center in Israel, called the Technion.
Last year the Technion agreed to let them use the machine part time, in return to a small R&D fee to cover the costs, not more than few thousands of dollars.
However, the "company" failed to pay even this small R&D fee to cover the expenses of operating the machine, and after a while the Technion had enough of these loony guys, and kicked their asses so hard with disgrace, telling them never to show their faces again near the campus.
So now the "company" is stuck with no money at all, and no R&D whatsoever, and all the stories they tell about developing cancer therapies are just dreams and lies.
In addition, the latest PR about the ratios of THC and CBD that "effectuate" GBM cells viability, are just bullshit - some old and preliminary results that mean nothing, that they got from the machine before they were kicked out.
That's where things are standing for poor CNBX...
But again, who cares, if the stock and high dreams are running, why we should bother ourselves with reality ?
I wish you good luck, though personally I think you are making a grave mistake.....
Just got more info on the latest happenings in the company from my friends in Israel.... and unfortunately it's shocking
Hey, why is it so quiet here today?
Where are all the posts saying "wow, this monster is blowing to $5"?
Keep in mind that this was already trading at $1.4 back in April 2014, before going down all the way to $0.02 - just as a reminder to the fact that MMJ stocks can rise and fall thousands of % on nothing.
If you made real money on it and took it to your pocket - I truly congratulate you.
However, I wouldn't stay long on this, as there is nothing real in this company as I said - it's just a fraud.
But who cares if the company is real or fake, as long is the stock is rocketing?
Only when it crashes back, as it always finally does in fake companies, people turn to read the disclosures and mourn their stupidity for investing in hot air balloons and nothing else...
BTW - just to be clear - I never had any position on this - neither long or short.
All I know is that the company has no money, no real IP, and a bunch of assholes as managers.
Mind you - the CEO himself was here the other day, talking shit about one of the other founders, so much shit that the moderator himself had to delete his post.
So if you like investing in companies with such managers- I wish you good luck when the wind turns around.... than the real bad smell comes.
Wow, look who we have here - Mr CEO himself, no less!
What an honor!
Thank you for joining us!
Now please let me tell you few things:
First, your claims regarding my identity are absolutely false and ridiculous.
My Name is Jason Parver, I live in Florida, and never even been to Israel myself.
However, I have few good Israeli friends who got cheated by you, will not expose their names of course, but they have told me the true story of CNBX.
Second - your claims regarding Dr. Koren, whom I don't know personally, can be definitely considered as slander - if I were you I would be very cautious with such statements - it can act as a boomerang against you personally.
Third - let's stick to the facts for a minute - you claim the financial situation of CNBX is great, but according to your own disclosures it wasn't so glamorous back in July - you had only few thousand dollar on your balance sheet, and nearly $0.5M in debt.
So please tell us what has changed in the last few months? did you raise a big sum of money? did you manage to generate revenues?
If so, I will definitely apologize and take my words back.
If not - you are lying to the respectable crowd of investors here.
So what is indeed the truth?
The truth is that the managers of this company has cheated and deceived many many people in Israel.
You see the nice green logo next to the company name? with the vial and the drop?
Even that was stolen from the designer who created it, who never got paid for his work till this very day.
And this is only one example - there are many more.
How is it profitable? please explain...
What revenues? $12.5K in the last year?
You seriously call this revenues?
And what IP?
What did they invent?
The idea of using High throughput machinery to test the response of cancer cells to different therapies is an OLD idea - few companies have used it already (including Oncotest that is owned by TEVA) - so what is new here?
the fact that they try to use cannabinoids in the same way is not enough to make this innovative and patentable.
So actually there is NO new IP.
In addition the company does not have it's own laboratory, and not even an office.
It's actually a ghost company.
It's truly worth probably $0.5M to $1M at most.
The fact is that no serious investor that did some DD on the company was willing to invest at a higher valuation, and that's why the balance sheet is zero.
No money for operations, what so ever.
So you understand why a $100M valuation is a fake?
Yes, Ready to pop into oblivion, and burst like a bubble of smelly hot air.
The fact is that after being sued by their former collaborators, they are now trying to close down the company without taking too much personal damages.
However, they do owe quite a large sum of money to some people, and so the whole thing became a big mess of fighting and cursing each other, and the management is busy in self survival and trying to get rid of the hot potato.
In short, The company is in total meltdown.
If I were you, I Wouldn't risk my money here under no circumstances.
This is just a friendly advice, you do as you wish....
This is a dead company, in case you didn't notice, so it's only tasty if you are into necrophilia....
There is absolutely nothing happening there, and in addition they are currently being charged in court by all their former business partners and debt owners.
So I wouldn't think it's a wise mess to be involved with, unless of course you like loosing money on dead companies....
Never invest in scam companies - it's a sure loose.
There is no management here, no activity, no money - nothing, absolutely nothing.
The company itself is trying to sell it's own stock for 2 cents a piece - and nobody wants to buy. They cannot raise money from anyone.
I'm telling you this based on personal knowledge - you should run away from this shit stock like you run away from a bush fire, unless you enjoy wasting your money on nothing....
Once a dream company, now a shit company...
Wouldn't touch this one even with a 20 foot stick.
Hate to say it, but I told you so months ago.
Look back and see....
Did you notice how the stock was trading at 12 cents all day, but in the last minute someone got 500 shares at 18 cents and "corrected" the closing price?
This shit happens there almost everyday... JJJJJJ
if that's not insiders trading, I'm a martian.
Where is the SEC to control these scams I wonder??
Beware of scams my friend!
Did you check their financial reports and disclosures before risking your money on this fake company, or did you just gamble?
This company has NO patents, it has NO working capital, what they claim to be a sustained release formulation is nothing but a fraud, and their former CEO has recently resigned BOTH his positions as CEO and director.
This flag is as red as it can be.
Do you still think this is a good long position?
I highly doubt it.
here - page 2.
Same formulation ingredients already appeared in a patent by Murty Pharmaceuticals in 2012 - so no novelty at all.
Regarding the market cap - I appreciate your optimism, but I'm highly skeptic. The volume is so thin that the stock price can be manipulated easily with few bucks.
I'm just saying - be careful, it seems like a another fake marijuana company to me.
I used to trade CBIS before and was burnt - and this one seems to me even worse....
Just take a look at their patent application:
patent
They mix coconut oil with glycerides and call it "technology"... this is ridiculous... Not to mention it was rejectd by the search authority as totaly lacking novelty.
Their ~$20m market cap is very very unreal, unfortunately.
A sure loose, no doubt.
Just another fake company that does nothing, unfortunately.
Beware of these scams!