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Sunday, September 5, 2010

Hempfuture.com? Medical Marijuana Inc. Scam?

 Hempfuture.com the new brainchild of Medical Marijuana, Inc?
"Pre-enroll today for the August 28th launch and secure your position now! The enrollment fee is from $39 to $100 and up. Enrollees will receive quality hemp products, and will NOT be charged until September when they can log into their account, choose the products they like, update all info, and place an order for their initial product basket.

This sign up is by invitation only, and you must have a sponsor to get started. This is the best time to reserve your position as one of the first members in The Hemp Network, get in on the ground floor and receive hemp products! Sign up today to become a member of this network that is part of the first public company in the medical marijuana industry."
What is Medical Marijuana Inc?
However, upon close examination, an investor would realize that they are buying into nothing more than smoke and mirrors. Medical Marijuana Inc. is taking advantage of the fact that stock investors know very little about the medical marijuana arena, and on the flip side those that are knowledgeable in medical marijuana have very little knowledge about the stock market. With such a large gap between the stock investors and the medical marijuana industry, very few have called out Medical Marijuana Inc. for what they really are; a scam.
Why I don't buy Medical Marijuana Inc.
Medical Marijuana Inc. (MJNA) is truly a forward looking company.
Looking back, it began in 2003 as Berkshire Collection, Inc. (BKCL) of Ontario, Canada.  According to a complaint filed 12 Jun 09 by the U.S. Securities Exchange Commission (SEC) against Blackout Media (BKMP) and its principal Sandy Winick of Toronto, Berkshire Collection was one of 59 subsidiaries spun off from Blackout Media Corporation, formerly known as First Canadian American Holding Corporation, (FCDH).
The SEC complaint alleges these 59 subsidiaries had no legitimate business purpose and were just "public company shells", and that Winick profited at least $3.2 million from selling shares in these "shells" from 2004 through 2007.

Salon.com; As medical marijuana booms, a notorious dope smuggler makes a bid for legitimacy. But the game just ain't the same

If he does, the attendees won't hear from either Richard Cowan or Bobby Tuna Platshorn, two of the big attractions in L.A. who Perlowin said were considering deeper involvement in MMI's plans. Now, both have disavowed any connection to MMI; they are concerned that Perlowin exaggerated their involvements with the company in order to make it more appealing to potential investors.

"Frankly, I was a little bit disturbed at the conference when two different people came up and told me that they'd been told that MMI was going to acquire Cannabis Science," Cowan said. "There have been no -- zero -- conversations about that. They told me that Bruce was the source of that statement and that did not please me at all … There were too many statements made [about a relationship between MMI and Cannabis Science] that were not factual."

Likewise, Platshorn said he felt that there was "a lot of blue sky and smoke" being used to promote MMI in the hope of energizing its stock and wooing investors.

"I always had the feeling that what they were doing was a 'pump and dump,'" he said, referring to businesses that hype their stock to create the impression of a buying frenzy that allows shareholders to sell at a high price. In the case of MMI, most of the stock is held by only a handful of shareholders, most of whom are former drug runners. Buyers of pump and dump stock are usually left with worthless shares in a shell company.
"I didn't want the legal liability and, very honestly, I didn't like the idea of basically scamming people, if not intentionally, then inevitably," Platshorn said. "[There's] no substance in the business. They want to sell learning centers, which is their default product now, but there wasn't so much as a training manual, a teaching manual, a business manual. There was nothing. Bruce wanted to take money from some of these people who wanted to buy territories. Maybe some of them decided [to invest] after they heard me speak. I hope not, because I told them I was not connected to MMI but was there to negotiate possible employment."
 Safe to say I will not be sending Hempfuture.com any of my hard earned dollars.

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