Replies to post #20436 on Health Sciences Group Inc (HESG)

[kottonking]

i dont think so! so many shells going on and their not getting prosecuted... look at hglc!!! anyone remember that? hglc is just gona get a slap on the hand and make away with lots of $$$ and do it again!

[tommy 9 fingers]

So Neo,

Started to do a bit of DD on this one.

So first just some comments and questions of the main players.

Thomas Gaffney and HESG: Not much on him yet and can you tell me how HESG actually makes money other than getting paid for drug makers advertising google adds on their website. This is a totally mystery company. The medical advice on the website is basically a dictionary of medical terms I don’t get it and don’t have much for on this one. They don’t report a darn thing like they don’t want anyone to know.

Dr. Fred Aserati: Doc of what? I looked but cannot find any where or how he has any experience in the medical marijuana field, so why is his expertise needed and what does he bring to the company? Why no professional bio provided on him by HESG for shareholders to review. This is all the company give us on him “Dr. Aserati has an extensive background in studying the government's policy on the growing and distribution of medical Cannabis/Marijuana.” Hell I guess I am qualified for that job as well. Why not a known medical expert in the field or say a lawyer with experience fighting the Feds on Legal marijuana cases?

Bruce Perlowin, Founder, Chairman, (AKA The King of Pot) CEO of Medical Marijuana, Inc or MJNA. So this is the most interesting player. According to the first link and apparently by his own admission went to prison for 9 years for trafficking or smuggling pot. No wonder this company does not file CEO's have to list their criminal convictions and I think it might actually be against the law for a CEO to be an excon of a publicly traded company. Remember Martha Stewart?
Scroll down until you see the “Why I Don’t Buy Medical Marijuana, Inc.” This is a good read all the way to the end and I think very telling
http://gotweed.wordpress.com/2009/11/01/investors-beware-time-to-be-wary-about-medical-marijuana-stock



So I found this kind of weird about MJNA;

Total outstanding shares after merger was 221,176,840. A subsequent name change to Club Vivanet, Inc. took place on May 22, 2008, and on August 28, 2008 a 20:1 reverse split brought the issued and outstanding down to 11,058,842. With the election of a new Board of Directors, control of the corporation transferred from the major shareholder of Mynewpedia to the new shareholders. On March 23, 2009 the company resolved to change the name of the corporation to Medical Marijuana, Inc. The name change became effective April 28, 2009 when NASDAQ approved the name change and issued a new trading symbol (MJNA). The Board of Directors also resolved a 1:10 forward split effective April 3, 2009. The Board of Directors also resolved that the corporation spin off all of the shares of its wholly owned subsidiaries, Club Vivanet, Inc., a Florida corporation and Mynewpedia Corp. a Colorado corporation, both on a share for share basis.

So after doing all that look what Don and Jim do right before the name changes on the 28th:

On April 27, 2009, Don Steinberg, Chairman of the Board and Jim Hancock resigned from the corporation. The Board of Directors voted to install Bruce Perlowin as Chairman of the Board and Chief Executive Officer of the corporation. Don Steinberg and Jim Hancock remain majority shareholders of the corporation.

What the hell happened with that? Very strange?

Also supposedly these guys have I think two subsids and they have only report net profit as of March this year of $39K and only a total for the last two years combined of about $14K. What are they Stoned. Page 7 http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=21110 also this financial statement is not signed by Bruce Perlowin as he likely can’t because he is a felon.



Not much out there, but here are some of the more interesting things I found.

Pretty much everything about the legalize Medical Marijuana movement.
http://gotweed.wordpress.com/tag/green-flag-pot-dealer-education

Not sure what to make of this did they ever buy this company or was this used as a P&D Scheme?
http://www.globenewswire.com/newsroom/news.html?d=159076

On the positive side
http://www.medicalcannabisnetwork.com/2009/08/the-legalization-of-marijuana-part-1-of-2


Anyhow Neo, not really going to make a comment on this one other to say that it is not passing the smell test. If you or anyone else can offer me insight of the DD I would glad to hear it.