Replies to post #5745 on Cannabis Science Inc (fka CBIS)

[pauly3]

I love the fact we have in house lawyers.

POLICY ADVISORY BOARD
Corporate
Robert Raich Esq
Robert A. Raich practices law in Oakland, California, and is a graduate of Harvard University and the University of Texas School of Law. He is one of the most respected attorneys in the area of medical marijuana. He is General Counsel of the Oakland Cannabis Buyers' Cooperative, and was one of the attorneys in the U.S. Supreme Court case, United States v. Oakland Cannabis Buyers' Coop. and another federal medical cannabis case. He is a member of the California Attorney General's Medical Marijuana Task Force (Chairman, Caregiver Issues Subcommittee).

Sean T. McAllister Esq
Sean T. McAllister is public interest attorney with offices in Denver and Summit County. Sean has been involved with drug policy reform efforts for over a decade. Sean serves as the Chair of the Board of Directors of Sensible Colorado. Sean is a lifetime member of the NORML Legal Committee. He is a member and Board member of the Colorado Criminal Defense Bar. He helped start the Colorado Bar Association Criminal Sentencing Project in 2005 to focus on criminal justice and drug policy reform. Recently, Sean was appointed to the Governor’s Drug Policy Task Force, which is working on reducing drug-sentencing laws to save the state money while maintaining public safety. Along with Brian Vicente, Sean recently founded the Canna-Business Institute designed to educate dispensary owners and caregivers on how to legally operate medical marijuana businesses in Colorado.

Warren Edson Esq
Warren Edson is an experienced criminal defense lawyer in Colorado having taken part in over 1,000 trials. He is also one of the organizers of Colorado's Medical Marijuana Law, Amendment 20, and is a Lifetime Member, NORML Legal Committee, and is a member, Colorado Criminal Defense Bar, and the National Association of Criminal Defense Lawyers, and is a Board Member, Colorado NORML.

Robert J. Corry, Jr. Esq
Robert J. Corry, Jr. is a Denver-based civil rights and criminal defense attorney, specializing in medical marijuana, who has successfully litigated several high profile cases around the country. He is admitted to the bars of Colorado, California, and Washington, D.C., federal courts in these jurisdictions, as well as the U.S. Supreme Court. Mr. Corry earned his law degree from Stanford University.

Brian Vicente, Esq
Brian Vicente, Esq., a Denver defense attorney who serves as executive director of Sensible Colorado, the states leading non-profit working for medical marijuana patients and caregivers. He is also the chairman of the Denver Mayor’s Marijuana Policy Review Panel and coordinates the Colorado Bar Association's Drug Policy Project. He was awarded the prestigious Gideon award for his free speech advocacy during the 2008 Democratic National Convention.

[Cru]

I don't see how you guys can paint that as a loss. Unforeseen circumstances scattered their plans, but they quickly recollected and salvaged the deal. Sure, there's no ownership, but there's also no dilution.

On top of that, it signifies a model to be applied to future endeavors.

Think about it, multiple points of commerce are going to have Cannabis Science branded bags next to the generic no-name or in-house brand.

[dade]

I will eat some crow tonight.....
but (imo) we are not that as rosy as some are making it out to be
I still fear a breakdown under .03 could send us sub penny
either way I feel upward pressure at around a dime will leave us hung
most stronglongs should have averaged down under a dime by now


and the hype around the November Ballot? I just don't see how CBIS is poised to react to a positive swing?
Explain to me how CBIS will profit from the California Vote?
operations or distribution at this time are nonexistent
I hope we get some traction within the next thirty days
(I have spoken to insiders @ Harborside (the largest dispensary in CA, (ithink)) and they don't claim to know what CBIS is...but their interest was peaked)

I would like to see CBIS products & marketing rather than statements
You fellows realize these statements regarding research and market conditions (not cbis's research or condition - btw) cost a lot of $ to produce

On May 14, 2010, the Company issued 400,000 restricted common shares at $0.135 per share to acquire the assets of Rockbrook Inc. Subsequent the quarter-end, on July 27, 2010, the Company signed a mutual termination agreement to reverse the acquisition and cancel the shares. (see Note 7 to Financial Statements, p.F-10).

On August 19, 2010, the Company signed a license agreement with RockBrook Inc, a medical marijuana medicines company. RockBrook has been granted the full latitude and rights to manufacture, develop, produce, distribute and sell products developed from, or based on, Cannabis Science formulations, and delivery systems for the Cannabis Science Brand of Pharmaceutical Products and Cannabis Science Ailment Formulations within the State of Colorado. Under the agreement RockBrook will pay Cannabis Science an initial licence fee of $25,000, payable within the first year. RockBrook will also pay the Company a quarterly royalty payment of 50% of all positive revenues derived from the the Company Brand of Pharmaceutical Products. Additionally, in the event RockBrook executes any sublicensing agreements, Cannabis Science is entitled to royalty payments of 50% of all positive revenues received by the licensee for sales of any Cannabis Science Brand of Pharmaceutical Products. Within two years RockBrook is expected to invest a minimum of $250,000 in research and development for the Cannabis Science Brand of Pharmaceutical Products and will also pay the Company a renewable licence fee, payable annually on the anniversary of the execution of this agreement. The first anniversary payment will be $25,000, the second $50,000, third $75,000 and fourth $100,000. The fifth and subsequent anniversary payments will be $150,000.