Cannabiz Mobile Inc. (LGBI)

[rileylan]

Agreed.
Had I known the company didn't own anything I would have never invested. The information published on their website is that the company "...is a medical device research, development, and manufacturing company." http://www.rebuildermedical.com/company_info.php
This is from their web site which I saved.

Also, the pinksheets info states, "...company manufactures and distributes proprietary medical devices for diabetic peripheral neuropathy and Molluscum Contagiosum among other things."
http://pinksheets.com/pink/quote/quote.jsp?symbol=rbrm#getCompanyInfo

Also, their published quarterly statements refelct sales.

So, from statements like these, RBRM researches, develops, manufactures, distributes, and sells proprietary medical devices.

I invested in this company off this premise.

Nowhere does it say they "own" the stuff. To me, this is assumed unless declared otherwise. For example, if I had a company that produces 'Widgets', do I have to say I "own" or "don't own" my Widgets before I get money out of investors?

This situation is clearly misleading to me. That level of omission is, in my opinion, misdirecting investors into believing they actually invested in a company that owned the devices. I hope the owner doesn't close up the "shell (that's what I call it)" company and leave us out to dry. In my opinion, it would be a hard sell to the SEC and courts that the owner/CEO (whatever) didn't intentionally misdirect investors IF that's the case.
People (investors) shouldn't have to dig and dig and dig and eventually find somewhere in a couple reports that the company doesn't own anything.

I hope this isn't the case, and that this is legitimate.