As part of the Agreement, on April 1, 2009, the Company appointed Mr. Kubby as
President and CEO, Richard Cowan as Director and CFO, and Robert Melamede Ph.
D., as Director and Chief Science Officer. Each of them was also appointed as a
director. All of the Company's current directors then resigned. On April 7,
2010, the Company changed its name to Cannabis Science, Inc., and obtained a new
CUSIP number. Its shares now trade under the symbol CBIS.OB. A Form 8-K was
timely filed, with a copy of the Asset Acquisition Agreement and Board
Resolution ratifying the Agreement provided as exhibits thereto.
On April 7, 2009, the Company changed its name to Cannabis Science, Inc.,
reflecting its new business mission: Cannabis Science, Inc. is at the forefront
of medical marijuana research and development. The Company works with world
authorities on phytocannabinoid science targeting critical illnesses, and
adheres to scientific methodologies to develop, produce, and commercialize
phytocannabinoid-based pharmaceutical products. In sum, we are dedicated to the
creation of cannabis-based medicines, both with and without psychoactive
properties, to treat disease and the symptoms of disease, as well as for general
health maintenance. The Company obtained a new CUSIP number as well. Cannabis
Science Inc. has also launched its new website www.cannabisscience.com
reflecting its new name.
On May 7, 2009, the Company common shares commenced trading under the new stock
symbol OTCBB: CBIS.
On May 8, 2009, the Company signed a Share Purchase Agreement to acquire
Rockbrook, Inc., a Colorado medical cannabis dispensary. Due to regulatory
changes that prevented a non-Colorado resident from owning a dispensary within
the state, the Company signed a mutual termination agreement with Rockbrook on
July 27, 2010 to retroactively cancel the acquisition.
On April 27, 2011, the Company was advised by the principal of Rockbrook, Inc.
that the current licensing agreement was no longer in effect and that a new
license agreement would be signed once new terms could be agreed upon. Despite
this notification from Rockbrook, Inc., a legally signed license agreement is
still in effect between the Company and Rockbrook. As of June 30, 2013, the
Company is re-assessing the license agreement with Rockbrook and how to move
forward in a cohesive arrangement with the other license agreements and
acquisitions the Company is working on.
On February 9, 2012, the Company signed a license agreement with Apothecary
Genetics Investments LLC. to produce several Cannabis Science Brand Formulations
for the California medical cannabis market. As well, Apothecary will provide
research and development facilities with full circle operations including a
California laboratory facility for internal research and development, along with
16 unique genetic strains specifically generated and maintained by a cancer
survivor who recognizes the importance of proper growth and breeding. The
Company earned a $25,000 license fee under the agreement for the period ended
June 30, 2013.