Cannabis Science CEO Goes up in Smoke
July 9, 2009 by Stephen Kersey
Filed under Business
Being the CEO of Cannabis Science Inc. sounds like a groovy gig. But apparently, Steven Kubby wasn’t the man for the job. Kubby was ousted as Cannabis Science’s CEO on Thursday.
Cannabis Science is a startup in San Francisco that is attempting to develop a treatment for hypertension. What’s the catch? The treatment features a cannabis lozenge.
According to the San Francisco Business Times, a filing with the SEC by Cannabis Science stated that Kubby “failed to conduct his duty in the manner that … is in compliance with his fiduciary duties to preserve shareholder value and corporate integrity.” The company says that Kubby will remain a director and could have an additional future role.
Replacing Kubby as the King of Cannabis will be Dr. Robert J. Melamede. Previously, Melamede was Cannabis Science’s Chief Science Officer.
If Cannabis Science can clear the smoke and get back on track, it is estimated that the oral cannabis medications industry could bring in $6 billion per year.
That could buy a lot of Cheetos.
Having Cheetos is better than having hypertension (Image: Flickr)
Except this is *not* what happened.
This is, according to Kubby, a fraudulent takeover. He’s resigned.
And told the truth about these frauds.
Wear this shirt & express your support for Medical Marijuana 420 cannabis http://bit.ly/18CsKh (Please RT)
Good to see more and more people embracing Cannabis as the plant itself has so many uses. Uses such as fuel, books, clothing, building houses, etc.