Rainbow Coral Corp (fka RBCC)

[Voices of Reason]

Lab Grown Implantable Organs? Joint Venture? .... complete hogwash! Patrick Brown could use an implanted brain when making these statements from today's press release, as RBCC continues to perpetuate the lie:

"Rainbow BioSciences, RBCC’s biotech division, signed a joint venture agreement with n3D last year to help develop and market the Bio-Assembler."

Item 2, Page 10 of the latest 10Q: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8926868

"On March 13, 2012, we entered into a stock purchase agreement (“N3D Stock Purchase Agreement”) with Nano3D Biosciences, Inc. (“N3D”), a Texas corporation that has developed a unique concept in three dimensional cell research tools. Under the terms of the N3D Stock Purchase Agreement, we have agreed to acquire 604 shares of common stock of N3D, representing approximately 5% of the outstanding shares on the date of the agreement, for a price of $413.62. The total purchase price of $249,826 will be paid by making weekly payments of $5,000 until fully paid. We may discontinue payment of the purchase price at any time by providing written notice to N3D. This would result in our owning fewer than 604 shares.

There is no "Joint Venture" with N3D, which means RBCC is not guaranteed in any way shape or form going to share in the potential future revenues of N3D, unless of course N3D one day goes public or otherwise sells shares of their company.

RBCC has apparently only purchased $413.62 since the financials show no record of them making their weekly $5,000 payments. This means, at best, RBCC has only met 0.16% of its financial obligation to purchase 5% of N3D - or putting it another way, they are a 0.008% owner of N3D, a private company that may or may not produce future reveneues, in which RBCC may or may not have a market for the privately held shares of the company. Nice...!