CANNABIS SCIENCE, INC.
FORM 8-K
(Current report filing)
Filed 07/14/09 for the Period Ending 07/14/09
Address 548 MARKET STREET
SUITE 16645
SAN FRANCISCO, CA 94101
Telephone 1-888-889-0888
CIK 0001024626
Symbol CBIS
SIC Code 1311 - Crude Petroleum and Natural Gas
Industry Biotechnology & Drugs
Sector Healthcare
Fiscal Year 12/31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): July 14, 2009
CANNABIS SCIENCE, INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation or organization)
91-1869677
(I.R.S. Employer Identification No.)
000-28911
(Commission file number)
548 Market Street, Suite 16645, San Francisco, CA 94101
(Address of principal executive office)
1-888-889-0888
(Issuer's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously Satisfy the filing obligation of the registrant under any
of the following provisions:
( ) Written communications pursuant to Rule 425 under the Securities Act
(17CRF 230.425)
( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CRF 240.14a-12)
( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CRF 240.14d-2(b))
( ) Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CRF 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement of Certain
Officers.
With the Special Board Meeting held on July 10, 2009, the Board has received
and has accepted the resignation of Steven W. Kubby as a member of the
Board of Directors.
The Board has received and has accepted the resignations of Ray Carr, Mary
Ruwart and Lee Wrights from all previous positions held in the Company.
The Board hereby authorizes an internal investigation and review by counsel
of Mr. Kubby's apparently fraudulent activities using the position he held
as President & CEO as his authority to carry out these activities that
damaged the Company and its shareholder value, including but not limited to:
a. Mr. Kubby's inappropriate and unauthorized signing of a financial
and share agreement with Mary Ruwart and Ray Carr, which were not disclosed
to nor approved by the Board, using unauthorized company shares as collateral
or consideration for his personal gain.
b. Mr. Kubby's inappropriate and unauthorized signing of a financial
and share agreement with a private party, which was not disclosed to nor
approved by the Board, using unathorized company shares as collateral or
consideration for his personal gain.
c. Mr. Kubby's inappropriate and unauthorized signing of a financial
and share agreement with an independent financial group, which was not
disclosed to nor approved by the Board, which could have significantly
diluted and damaged shareholder interest.
d. Mr. Kubby's inappropriate and unauthorized acceptance of funds
into a company account to which he had blocked and removed access by other
officers and directors without approval or resolution.
e. Mr. Kubby's apparent inappropriate and unauthorized distribution of
Company funds for his personal gain, while leaving essential obligations of
the Company unmet.
f. Mr. Kubby's libelous accusation against the Company's Directors and
a key consultant, while misrepresenting his own actions to the public and
the media in a manner injurious to the Company's interests.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CANNABIS SCIENCE, INC.
By /s/ Robert Melamede
Date : July 14, 2009 ----------------------------------
Dr. Robert Melamede
CEO & Secretary