My take on the fluffy dividend email;
Board of Directors have begun investigating the corporate and legal requirements required to issue dividends to shareholders to create a new class of common shares.
The company is in advanced negotiations with several groups pursuing funding opportunities for up to $5 million between $1.00 and $3.00 per new share. [[SOUND VERY COMPLICATED AND MOST OF THIS FLUFF $$ WILL HIT THE FLOOR OR WALK OUT THE DOOR]]
The proceeds will be used to fund FDA clinical trials, acquisitions, and further product research and development. [[EVERYTHING & ANYTHING]] [[AND WITHOUT THE FUNDING NO FDA TRIALS?]]
Thus far it is contemplated the new company share structure will include two classes of common stock, class A, the existing class, and class B common shares, the new class, with each trading with separate symbols.
There is no contemplated change to its current preferred share structure. [[GOOD NEWS FOR THE HOLDING OFFICERS]]
The company plans to create the new class via a dividend payment of shares of the new class to shareholders of record who own the current common stock.
The date of record and ratio of the dividend payment for all shareholders to receive the dividend will be announced shortly.
Cannabis Science President and CEO Dr. Robert Melamede, PhD., noted,
"I'm excited to proceed with the financing in relation to the new common share structure. [[YOU SPEAK OF SAID FUNDING AS IF IT IS PLACE?]]
This will provide us with the critical financing needed for FDA clinical trials and continue the development of Cannabis Science products and bring them to market.
In the long run, this opportunity will open up a much wider market for our medical cannabis products thus multiplying the potential revenues offered through our licensed commercialization partner Rockbrook Inc." [[YOU FORGOT THE IMO DR. BOB]]
Richard Cowan, Cannabis Science CFO added,
"This is one of the last big pieces of the puzzle for Cannabis Science as a Company.
With the new share structure and financing in place, we will then have the tools to realize the market potential for Cannabis Science and our products.
[[WHAT HAPPENS WITHOUT THIS NEW MAGIC DIVIDEND & WITHOUT THE COMPLICATED FUNDING FROM MULTIPULE SOURCES, DICK?]]
We felt strongly about giving a dividend payment to our shareholders of record as part of the overall new share structure to reward their loyalty through this development stage of the Company.
And we know that once we reach the FDA approval milestone for our products that everyone will be rewarded, especially our long-standing shareholders."
