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Marijuana research and the CEO

July 14, 2009

leafRocky recently stumbled upon an implausible public company, “Cannabis Science Inc,” whose stated mission is “marijuana research and development.” The company’s website [click here] says that it employs scientific methodologies to “develop, produce, and commercialize phytocannabinoid based … products.”

Not surprisingly, the company’s headquarters are located on Market Street in San Francisco.

Even more interesting was an SEC Form 8-K that the company filed this morning:

“[At the] Special Board Meeting held July 10, 2009, the Board accepted the resignation of CEO Steven W. Kubby, Ray Carr, Mary Ruwart and Lee Wrights.

“The Board hereby authorizes an internal investigation and review of Mr. Kubby’s apparently fraudulent activities using the position he held as President & CEO, including but not limited to Mr. Kubby’s apparent inappropriate and unauthorized distribution of Company funds for his personal gain, while leaving essential obligations of the Company unmet.”

Rocky has only one question: “What was he smoking???”

[Disclosure: Rocky would not invest in this company, nor does he (in the words of President Clinton) “inhale.”]

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  1. Dude
    July 14, 2009 at 2:53 pm

    Man, you got it all wrong. This stock is so hot, it’s “smokin”

  2. July 14, 2009 at 9:27 pm

    I’m still trying to figure out why the mucky-muck wife bought me hemp infused hair shampoo. Sure I went to Berkeley, but…??

    • July 15, 2009 at 2:41 pm

      Dave:
      Look on the bright side: At least your wife still buys you shampoo. In contrast, Trophy Wife bought Rocky a squeegee and spray bottle of Windex….

  3. jeff watson
    July 20, 2009 at 12:32 pm

    No discussion of marijuana would be complete without some input from these guys.

    Jeff

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