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0 206

Dennis Arsenault couldn’t believe what he was seeing. When his company, OrganiGram Inc., made its debut on the TSX Venture Exchange this summer, the shares suddenly shot up.

Such a high valuation didn’t make sense – not even to Mr. Arsenault, and he was the company’s chief executive officer.

Just a few weeks earlier, OrganiGram, an upstart producer of medical marijuana based in Moncton had been valued privately at just over $40-million. But on the open market, speculators feverishly drove up the total value of shares to nearly $120-million in late August.

It wasn’t that Mr. Arsenault didn’t believe in the future of his business. OrganiGram is one of only 15 companies to land a highly coveted federal licence in Canada’s new medical marijuana sector, touted as a potential multibillion-dollar industry in the years to come.

But the company hadn’t made a dime yet. OrganiGram was probably a year away from pulling in meaningful revenue – and it was already worth nine digits in the stock market.

“I was just shaking my head,” Mr. Arsenault said of that first week of trading.

What happened was exuberant, if irrational, and OrganiGram wasn’t the only company feeling the surge.

Read the rest of the article here.

0 156

Easton Pharmaceuticals Executes Letter of Intent and Provides Details on Green Patient Network’s Business Plan

TORONTO, ON–(Marketwired – Dec 12, 2014) – Easton Pharmaceuticals (OTC: EAPH) announces it has executed a letter of intent with Canadian Medical Marijuana Club Inc and initiated negotiations to enter the Legal Medical Marijuana prescription access business.

Easton is negotiating a first of its kind in the Canadian medical marijuana industry by having Green Patient Network offered to the public. Green Patient Network should see synergies that present itself from Easton’s Vaporizer customers and the overlap in users which can directly help reduce current patient acquisition costs. Any prospective patient wishing to become a legal Canadian Medical Marijuana Card holder and member can find great value in the services offered by becoming a member of Medical Marijuana Club / Green Patient Network(GPN). Current Market targeted scope will include the major metro area’s in the Canadian marketplace (Vancouver, Calgary and Toronto). In march 2014 there were approximately 40,000 Legal Medical Marijuana Prescription holders in Canada. (Source Health Canada) Currently it is believed that number has increased to 60,000-70,000 patients. Growth in the patient population is being hampered as potential marijuana patients find it is still not an open acceptable subject to discuss their needs with their healthcare provider. Some MMPR un-informed doctors will not easily prescribe Medical Marijuana to their patients due to undue scrutiny placed on them by Health Canada, the RCMP and other regulators.

These underserved patients who suffer from Autism, Epilepsy, Dementia, Diabetes, Glaucoma, Tourette Syndrome, Cancer, PTSD and other ailments are in search of services such as the one being negotiated as a supplement to their current plan of care.

What the Green Patient Network Service Provides :

– Provides Canadian patients looking to obtain legal access with specialized online physician consultations via tele health.

– Connects underserved patients with a trusted network of doctors who advocate working with Licensed Providers within the framework of Canada’s MMPR network.

– Marijuana Licensed Provider prescription management and Marijuana batch number tracking services. This removes the stress of patients having to worry about losing their prescription or having to monitor if any recall’s are made by their LP provider.

– Nursing support line for any patients/ Members who have an adverse reaction to any Marijuana related product.

- Pre Qualification Questionnaire that helps make the entire process easy to understand for the patient.

Costs of this service: membership dues for a single are $375 annually or $150 initial and $30 each monthly subscription model.

Easton Pharmaceuticals Plans to provide updates on these fast moving negotiations in the Legal Medical Marijuana prescription access business within the next 7 to 15 days.. These negotiations are in no way detracting from other negotiations that are being done in the Medical Marijuana space in the United States or other business segments which we plan to divulge within the next week to 10 days.

In other news Easton Pharmaceuticals plans to update its shareholders on prior partnerships made and progress made with AMFIL Technologies and its GrowZone joint venture. Its current adoption has been proceeding well and revenue recognition is slated for this quarter on shipments made within the second Quarter of 2015.

In other news Easton and / or its representatives plans on attending the upcoming Emerald Cup.

About Easton Pharmaceuticals

Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic / cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 49% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of Cannabidiol extracts.

For More Information Visit:

http://www.eastonpharmaceuticalsinc.com

http://finance.yahoo.com/q?s=eaph

https://twitter.com/eastonpharma

Safe Harbor

This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when certain words or phrases such as “hope”, “positive”, “anticipate,” “pleased,” “plan,” “confident that,” “believe,” “expect,” “possible” or “intent to” and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative and may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company’s products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company’s financial reports and filings.

Contact:
Carla Pepe
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: info@eastonpharmaceuticalsinc.com

0 120

Easton Pharmaceuticals Initiates Discussions With Canadian Medical Marijuana Association / Club

TORONTO, ON–(Marketwired – Dec 10, 2014) – Easton Pharmaceuticals (OTC: EAPH) announces it has started discussions with a Canadian Medical Marijuana Club.

Alongside its other business segments, Easton has been seeking acquisition targets in the areas of legal marijuana grow operations, patient access, patentable marijuana plant strains in the United States as well as Canada. As a result, Easton has initiated discussions with a Private Medical Marijuana Club, located in Toronto, Canada regarding a direct capital investment. This Club currently has a database of members as well as existing relationships with MMPR Licensed providers. The Marijuana club currently contains a database of members / patients with medical diagnosis and prescriptions who are able to match and provide patients with appropriate strains of Marijuana as well as match provider’s who might have those strains available for sale at the time. The club can be more efficient at contacting and informing any members if a batch is recalled providing a layer of safety to its members.

Easton Management believes that having access to patients will be the key to being successful in the Canadian Marketplace. Health Canada has taken a very draconian stance on MMPR’s and how they are allowed to market Marijuana as it’s scheduled as a narcotic in Canada.

Health Canada has issued warning letters to nearly every MMPR license holder towards their marketing practices.

“On November 25, 2014, Health Canada issued warning letters to 20 licensed producers regarding their advertising practices. These warning letters are in follow-up to an advertising bulletin sent to all licensed producers on June 30, 2014, that outlined the general prohibitions against the advertising of Cannabis contained in the Marihuana for Medical Purposes Regulations (MMPR), the Food and Drugs Act (FDA) and the Narcotic Control Regulations (NCR).

As a result of these prohibitions, the information provided by licensed producers to the public should be limited to basic information for prospective clients such as the brand name, proper or common name of the strain, the price per gram, the cannabinoid content, and the company’s contact information.

The licensed producers listed below have been given until January 12, 2015, to come into compliance with the advertising prohibitions following which, Health Canada will initiate appropriate enforcement action. Health Canada will update this list as licensed producers become compliant.

Clients should be aware that licensed producers who do not comply with the provisions in the FDA or the NCR can be subject to compliance and enforcement action, including suspension and possible revocation of the license or possible prosecution.”

http://www.hc-sc.gc.ca/dhp-mps/marihuana/info/list-eng.php

Licensed producers for which Health Canada has issued warning letters

The companies listed have been issued warning letters and have until January 12, 2015, to come into compliance.

  • Bedrocan Canada Inc.
  • Broken Coast Cannabis Ltd.
  • CannMedica Pharma Inc.
  • CanniMed Inc.
  • Delta 9 Bio-Tech Inc.
  • In the Zone Produce Ltd.
  • MariCann Inc.
  • MedReleaf Corp.
  • Mettrum Ltd.
  • OrganiGram Inc.
  • Prairie Plant Systems Inc.
  • The Peace Naturals Project Inc.
  • ThunderBird Biomedical Inc.
  • Tilray
  • Tweed Inc.
  • Whistler Medical Marijuana Corp.

Additional Information on Easton Pharmaceuticals Inc can be found at

About Easton Pharmaceuticals

Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic / cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 49% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of Cannabidiol extracts.

For More Information Visit:

http://www.eastonpharmaceuticalsinc.com

https://finance.yahoo.com/q?s=eaph

https://twitter.com/eastonpharma

Safe Harbor

This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when certain words or phrases such as “hope”, “positive”, “anticipate,” “pleased,” “plan,” “confident that,” “believe,” “expect,” “possible” or “intent to” and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative and may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company’s products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company’s financial reports and filings.

Contact:
Carla Pepe
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email: info@eastonpharmaceuticalsinc.com

0 244

Easton Pharmaceuticals Finalizes and Forwards Its 2013 Audited Financials to an Existing Medical Marihuana Acquisition Target and a Health Canada Medical Marijuana for Medical Purposes (MMPR) Applicant

TORONTO, ON–(Marketwired – Dec 1, 2014) – Easton Pharmaceuticals Inc. (OTC: EAPH) announces it has arranged to have its completed 2013 audit to be handed over to two American and Canadian based Medical Marihuana Growers whom the company has had ongoing communications with. As previously stated, grower details are expected to be disclosed within the second week of December as per allowances made on due diligence documentation and agreements.

Easton has been considering entering the lucrative Medical Marijuana industry mainly through the acquisition route. Current acquisition candidates have insisted on an independent audit on its 2013 year end financial statements prior to considering and accepting restricted shares of Easton Pharmaceuticals common stock as part of its ongoing negotiations. Current auditor has been vetted by the candidates to ensure that standards would be acceptable to all parties.

In other developments involving Easton’s current Canadian medical marijuana facility / initiative, the applicants have undergone communications with Health Canada and are hoping to be one of the next few company’s processed by health Canada. There have been expectations that Health Canada would review, inspect and finalize applications by end of year and start approving applicants early into the new year (2015). Easton Pharmaceuticals has received a full financing commitment through an accredited private Canadian investor, contingent on receiving an MMPR license. In addition a second investor option from a New York based accredited investor have provided Easton with a commitment for up to $5,000,000 in financing who have previously financed the company in the amount of $1,000,000 .

Easton Pharmaceuticals is striving to become not just another player in the industry but a potent company that will deliver a great value proposition to its shareholders and partners.

About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company involved in various pharmaceutical sectors and others industries such as medical marijuana. The Company previously owned an FDA approved wound healing drug and currently owns topically-delivered drugs and therapeutic / cosmetic healthcare products focused on cancer and other health issues geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions that are all in various stages of development. The company has ventured into the potentially lucrative medical marijuana industry through an investment into AMFIL Technologies and their groZONE anti-bacterial system and the exclusive option to purchase up to 50% in a medical marijuana grow-op business / facility which has received a letter to build from Health Canada. The company’s gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of Cannabidiol extracts.

For More Information Visit:
http://www.eastonpharmaceuticalsinc.com

Safe Harbor
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The “Act”). In particular, when used in the preceding of discussion, the words “hope”, “anticipate,” “pleased,” “plan,” “confident that,” “believe,” “expect,” “possible” or “intent to” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals would be classified as speculative. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company’s products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company’s financial reports and filings.

Contact:
Carla Pepe
Easton Pharmaceuticals Inc.
Tel: +1(416) 619-0291
Tel: +1(347) 284-0192
Email:
info@eastonpharmaceuticalsinc.com

0 265

Chuma Contracts Capital Canada as Exclusive Canadian Financial Advisor

LOS ANGELES, CA / ACCESSWIRE / November 26, 2014 / Chuma Holdings, Inc. (OTCBB:CHUM) (“Chuma” or “the Company”) is pleased to announce that it has contracted Capital Canada Limited (“Capital Canada”) to act as its exclusive Canadian Financial Advisor in connection with raising equity financing for Chuma from Canadian investors.

Capital Canada is a recognized leader in providing investment banking services to predominantly mid-market companies. For over 35 years, it has focused on providing clients with financial advisory services, including equity private placements.

Capital Canada will provide Chuma with ongoing access to Canadian investors and institutions. Capital Canada will manage Chuma’s capital raise in the Canadian marketplace on a best effort basis, coordinate meetings with potential investors and institutions, evaluate proposals, and ensure the timely closure of Chuma’s financing opportunities. The engagement between Chuma and Capital Canada is for a period of one (1) year and subject to renewal by the parties’ mutual agreement.

“Canadians are familiar with our regulated marijuana industry. We are looking forward to presenting Chuma’s unique business strategy to savvy Canadian investors.” said Chuma President Kevin Wright, “To date we have seen very few publically-listed, American companies that allow Canadian investors the opportunity to gain exposure to US legal medical marijuana opportunities. As a Canadian, I have seen the solid rise in interest in this sector in Canada. I believe the Chuma model, in the billion dollar California medical marijuana market, offers a similar opportunity.”

Mr. Jack Steckel, Managing Director, Capital Canada stated “the Chuma business model provides financing and service solutions to lawfully organized medical marijuana companies that offers investors a business driven value proposition. Chuma has a ‘meat and potatoes’ financial model our investors will understand and endorse. We are looking forward to working with the top caliber team at Chuma to bring this story to the Canadian investment community.”

The appointment of Capital Canada as the exclusive Canadian financial adviser to Chuma took effect October 3, 2014 which then included prerequisite due diligence and tours of the Company’s dispensary and production contracts, and meetings with key management. Capital Canada performed and managed the due diligence process including operational, financial, and corporate governance reviews of Chuma.

Interested Accredited Canadian investors are invited to contact Mr. Steckel. Proceeds of the financing will be applied to Chuma’s ongoing business development operations in the legal California medical marijuana market.

About Chuma Holdings Inc.

Chuma (CHUM) and our wholly-owned subsidiaries provide turnkey financing and support solutions to the rapidly evolving and growing legal cannabis industry. We provide “seed to sale” key business services including financing, compliance consulting, dispensary solutions, banking and payment processing solutions, and marketing and sales consulting. Chuma’s experienced team has over thirty-five years combined experience in the lawfully organized cannabis industry in California, and we are currently generating revenue from existing financing and service solutions. We are planning on expanding throughout California and bringing our array of services to each new state that legalizes the use of cannabis. For more information, please visitwww.chuma.us.

About Capital Canada Limited

Capital Canada Limited is an independent investment banking firm providing expert, financial advice to corporations with a focus in the private capital markets. Capital Canada brings to bear the application of innovative and independent financial skills, targeted towards the unique characteristics of its clients. Capital Canada recognizes that effective corporate finance requires evaluation of financial needs, an understanding of corporate goals, awareness of market attitudes, knowledge of funding sources, as well as an ability to develop the best financial structure for each client. For over 35 years, Capital Canada has built a reputation for performance with one clear goal: complete the best transaction for the client. For more information, please visit www.capitalcanada.com.

Safe Harbor Statement

This release contains “forward-looking statements” that include information related to future events and future financial and operating performance. The words “may”, “would”, “will”, “expect”, “estimate”, “can”, “believe”, “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: the ability of Chuma to secure appropriate funding to implement its business plan, the demand for Chuma’s services, Chuma’s ability to maintain customer and strategic business relationships, the regulation of legal cannabis on both state and federal levels, the impact of competitive products and pricing, growth in targeted markets, and other information that may be detailed from time-to- time in Chuma’s filings with the United States Securities and Exchange Commission. Chuma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Kevin Wright
President, Chuma
www.chuma.us
(702) 751-8455

Jack Steckel
Managing Director, Capital Canada
www.capitalcanada.com
(416) 598-7700

SOURCE: Chuma Holdings, Inc.

3 1513

The que to establish a Canadian legal marijuana business is getting unruly as applicants struggle to keep their dreams of selling med pot growing.

Written By: Matt Mernagh

This week licensed producer New Age Medical Solutions Inc. launched a lawsuit seeking a federal judge review their denial. http://www.cbc.ca/news/politics/medical-marijuana-applicant-takes-health-canada-to-court-1.2823362

 

The business waited a year and spent approximately one million dollars Canadian before Health Canada nixed their application. The company is part of a growing list of applicants who have spent a considerable sum and are in an approval quagmire.

 

Many are designated growers under the old program who have teamed up with investors and require to submit to extensive RCMP background checks. Long suspecting these growers are earning income from illegal sales – the RCMP is possibly using this as an opportunity to punish via slowness.

 

You’ll never prove beyond a shadow of a doubt they’re not moving paperwork quick enough because of political reasons, but they’re notoriously slow on regular background checks and blame staffing levels.

 

Having faced numerous constitutional challenges (including my own R v. Mernagh) – the agency responsible for overseeing licensed producers appears to have established their medical marijuana program with one eye on the courtroom.

Denied applicants may re-apply by fixing the identified problem – it’s alleged by Health Canada New Age Medical Solutions needs to hire a qualified quality assurance specialist.

 

Who is exactly qualified to be a quality assurance specialist for cannabis?

 

I have a book and held a court ordered exemption to grow cannabis – does that make me qualified.

 

A federal judge decision on that question could be years away and in the meantime the production facility sits empty.

 

Currently some 1,100 businesses have applied to sell medical marijuana to approximately 10,000 people. This number is growing as more doctors appear willing to sign paperwork. (I’m registered with Peace Naturals – which is not listed on TSX).

 

Health Canada claims about 291 businesses are in process of approval, but when will they be approved?

There’s a fairly impressive backlog of applicants and it includes a company headed by a former prime minister (John Turner) and another by a former Ontario provincial Liberal cabinet minister (George Smitherman.)

One would think a former prime minister would have some approval sway, but it doesn’t appear to be the case.

 

The snail’s pace approval is most likely somewhat intentional on government’s part. Unfortunately intentional government incompetence is a challenge to measure and if you’re one of 291 about to be approved – do you risk the agency’s ire by launching a lawsuit or speaking out.

 

To applicants and advocates it’s obvious pot hating Conservatives have slowed down the licensed producer application process to a God Bud couchlock.

 

Is this government incompetent business as usual or is an extra layer of personal dislike thrown in for good measure?

 

The Conservatives 2012 federal budget was described as “tough times for federal civil servants” with approximately 19,000 government employees given pink slips or retired out. The federal government shrank 4.8 percent and its effects are being felt everywhere, including medical marihuana approval.

 

Paper is not being pushed as quickly as applicants wish, probably because Health Canada doesn’t have adequate resources. Every business that qualifies will be granted a license, but Health Canada needs to have staff in place to manage all that Conservative created paperwork and oversight.

 

Will positive political muscle make a difference in moving paperwork?

 

The Mayor of Campbellton New Brunswick has come forward seeking the approval pace be quickened for Zenabis – which has promised a remarkable 400 weed jobs – when they open in his community. Campbellton’s been hard hit by unemployment and approximately 1400 people have applied for weed employment.

 

Is local Conservative MP Bernard Valcourt more interested in upholding prohibition or job creation?

It’s not uncommon for an MP to lobby on behalf of a business in their community that promises job creation – so why isn’t he going to bat for Zenabis?

The Conservative’s believe they are getting a two-for-one political ideological deal – smaller government and maintaining pot prohibition – but should be viewed as hampering job creation and investment.

Investors have tied up their cash flow in an investment that may or may not pay off. Many companies’ are bleeding money before they have even opened their doors. The approval uncertainty is finally causing investors to examine the possible payout more diligently.

Cannabis conspiracy theorist need look no further than Health Canada not having enough staff as to why more companies are not retailing medical cannabis than any other theory being floated.

 

0 451

Canada Will Tax Marijuana Just Like Tylenol

Cannabis Investment Expert Joins Supreme Pharmaceuticals

Supreme Pharma (SL-CSE) (SPRWF-OTCBB)

Interview with Brayden R. Sutton, Executive Vice President

VANCOUVER, British Columbia, Oct. 31, 2014 (GLOBE NEWSWIRE) — Tax Court Justice Campbell Miller just ruled that marijuana will be subject to federal Goods & Services Tax (GST) like Tylenol, cough drops and other over-the-counter drugs. The ruling confirms the government’s intent to legalise, regulate and tax medical marijuana in Canada. This is an important ruling, given that recent legislative changes have created a nascent medical marijuana industry in Canada that could be valued at over $1 Billion dollars in just a few years.

The creation of this newly commercialized industry creates a great opportunity for savvy investors to be early entrants and gain substantial returns. However, there are currently dozens of publically traded companies applying for permits to grow marijuana. The challenge is to pick the winning horse. With a space this cluttered it is instructive to see where the experts are placing their bets.

Supreme Pharmaceuticals (SL.V) (SPRWF) has just landed one of those experts, Mr. Brayden R. Sutton, President and CEO of CannabisHealth.com. Mr. Sutton joins Supreme as one of the most prominent cannabis investment experts in Canada, with nearly a decade spent covering the field from operational and public markets perspectives. As Executive Vice President of Supreme, Mr. Sutton will oversee facility design, operations, marketing, financing and business development.

“Being an early mover in the cannabis space, I was sought after and extended offers from almost every cannabis-related company in Western Canada as they all tried to position themselves in the marketplace,” stated Sutton in an exclusive interview with Financial Press, “Some of the offers were very tempting but I was truly looking for a company that checked all the boxes — the one that is providing Health Canada precisely what they’re looking for in the MMPR, one that could provide good value to their patients as well as their shareholders, and one that I felt will be around 10 years from now. I’m not interested in being a small player in the space or making a quick buck in a new sector – I want to take Supreme, the best company in the space in my opinion, to the finish line; and really set it up to be the dominant, low-cost, high-quality producer here in Canada.”

“Supreme received its ready-to-build permit back in January of this year,” stated Sutton, “Our facility has been fully retro-fitted to exceed the requirements of the Health Canada. It’s large, it’s secure, it’s in the right area, and we have local political support — on all levels. From local MP’s, the Mayor, and the town itself. We truly couldn’t be in a better town than Kincardine, Ontario. The 16-acre property, which houses the 7-acre facility, is located on the Bruce Energy Centre and has been independently appraised with an ‘in-use’ value of just under $22 million. We were fortunate enough to secure it for only $4.5m on very favourable terms. And frankly, we’ve yet to find a facility in Canada that is as more ideally suited to the MMPR as this one is, particularly when considering the local support, available skilled labour pool and heightened law enforcement presence due to our proximity to the Bruce Nuclear Power Plant. Our final phase of security is underway as we speak with Marcomm Systems Group and our Security Director, former OPP Drug Investigator Alan Roberton. We expect them to be complete by early November, at which point we will be ready to invite Health Canada to our facility for the inspection.”

Supreme’s Southern Ontario greenhouse is state-of-the-art, high tech facility utilizing advanced agricultural automation methods and applying them to the production of medical marijuana. It’s a 342,000 square foot greenhouse, which is the size of six NFL football fields. In addition, it is perfectly designed for medical marijuana production: it is built out of mould resistant tempered glass and steel, has sealed concrete flooring and is a “low top” design which reduces the facility’s heating and cooling requirements.

“We’ve employed Thaddeus Conrad, who is one of Canada’s leading producers of medical marijuana. Mr. Conrad is a leading breeder of innovative medical marijuana varieties, varieties which have earned him the title of North America’s most awarded marijuana breeder. As a result of this, Mr. Conrad is incredibly well-known under the name ‘Med-Man Brand,'” stated Sutton. “It is an honour to have him exclusively, as he brings with him decades of practical experience as well as a large and loyal patient following for early patient acquisition out of the gate. He is now collaborating with our team of greenhouse technicians, which includes one of Canada’s top agricultural experts who is a researcher at a well-known local University. At Supreme we have three elements: in our greenhouse we acquired the ideal facility, in Mr. Conrad we retained the best medical marijuana cultivator and breeder in the country and in our agricultural team we have some of the leading experts in pharmaceutical agricultural production. By doing this, we feel we will truly have the best value in the marketplace to offer our clients top-quality medicine, consistently, at a very affordable price.”

Sutton stresses that Supreme’s facility is far from a “grow-op” – it’s a high-tech pharmaceutical-grade greenhouse that is ideally suited for medical marijuana production. Health Canada has stated numerous times that it wants a regulated, standardized, automated production system that will turn out a consistent, and most importantly, safe product that meets their very stringent quality assurance measure, and we intend to give them just that. Supreme’s facility provides that; a large volume producer, with a design and operational plan designed for standardization and safety and sufficient economies of scale to implement robust quality control and quality assurance procedures. Supreme also benefits from favourable energy rates, due to the proximity of the local power plant, and most importantly the sun, which will provide up to 60% of the energy needed to produce high-quality medical marijuana.

Supreme is quickly checking off items required to be implemented prior to inspection: the razor-wire topped security fence is in place, the level-9 vault has been installed, the growing areas have been constructed and extensive electronic security and surveillance systems are being implemented right now. Once the final security systems are in place and the production areas are finalized, Supreme will be ready for its inspection by Health Canada. Mr. Sutton states that Supreme anticipates being ready for the inspection by mid November.

“What is unique about our greenhouse is that there is a large concrete structure in the center which houses the vault and high security processing areas. The greenhouse itself provides 4 quadrants of actual growing area, 340k sq. ft. in total, with our controlled rooms being 3,520 sq. ft. each. Even the flow of the building is ideal, in terms of the steps required from the trimming of the plant, to the shipping of it out the door. Employee and product flow has been meticulously designed to increase efficiency and reduce the risk of contamination. There will be an assembly line of sorts, where the production staff will be sealed off from the rest of the operation, allowing them to move the product down the line, while not interfering with anyone who is hands on inside of the actual grow space.”

Supreme Pharma has just raised $2.6M from a recent financing and currently undertaking an additional raise. And is more than capitalized to go right into production and start fulfilling patient orders.

Through economy of scale, Sutton anticipates drastically reducing the market price of cannabis.

“Our goal is to use the extensive medical marijuana expertise our management team has to shake up the marketplace. We will achieve this by using a gradient pricing model, which allows us to target multiple market segments while maintain transparency and credibility with our patients and doctors. We will sell the majority of our products for around $5.00 per gram. From there, premium parts of each crop will be given the ‘royal treatment’ and sold for upwards of $8.00 per gram, to those who can afford it. On the other end of the spectrum, smaller buds and shake will be sold for $2 and $1 respectively. Its all good medicine, but you have to be honest with the doctors and patients about what you are providing. The low cost options are also essential because a large proportion of our patients are very cost-sensitive, and currently expend a great deal of their monthly income on their medicine. The low cost model also improves our ability to pressure insurance providers to provide benefits for medical marijuana.”

Sutton is also very focused on patient acquisition, “The part of the business that many companies are struggling to find an effective way. We are very happy to say that we have roughly 500 patients on stand-by, with many more contacting us daily.” Mr. Sutton reports these patients come from existing relationships held by Supreme’s management team, as well as many individuals living or working near the facility, “and that has all been organic so far, as we’ve not yet had to pay one dime for patients. I have some long-standing relationships with cannabis-friendly physicians, and our hope is to be able to work closely with them, to better educate the public in what is very much going to be an industry driven part of Canada’s Health Care.” This is a benefit for Supreme, as this early patient acquisition is achieved without expending capital to acquire initial patients. In addition, Mr. Sutton reports that Supreme has had strong interest from a number of potential producers to provide marijuana on a wholesale basis. “This is the perfect market opportunity for Supreme, where we can supply others with wholesale marijuana and increase our revenues faster than we can acquire our own patients. Also, when you consider that less of an expense is required to sell wholesale medical marijuana as compared to retailing to individual patients, the profitability of our wholesale division is on par with the retail side.”

“We are in the final stages of completing of the requirements for our Southern Ontario growing facility,” stated Sutton, “I have a decade of experience in this field that tells me when something is going to work. Supreme Pharmaceuticals is that something. In my opinion, it is a question of ‘when’ not ‘if’ it becomes one of the dominant providers in this exciting new sector.”

Supreme Pharmaceuticals is currently trading at $.47 with a market cap of $28 million.

Legal Disclaimer/Disclosure: A fee has been paid for the production and distribution of this Report. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this article should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. Financial Press makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of the authors only and are subject to change without notice. Financial Press assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this article and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this article.

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Contact:

Supreme Pharmaceuticals
Suite #430, 580 Hornby Street
Vancouver, BC
V6C 3B6
Email: info@supremepharmaceuticals.com
Phone: 604.674.2191

0 886

Relax & Eat Cookies!

The Canadian medical marijuana program is setting a precedence that many hope the US will soon follow.  However, being the first country in North America to federally legalize marijuana means that the Canadian program also has a few flaws.  Some of the weaknesses of MMPR include prohibiting Licensed Producers (LPs) from advertising which dampens market growth.  It requires all sales to be made by mail thus eliminating dispensaries which have the potential to up-sell many cannabis products at the point of sale.  And, more prominently, MMPR completely overlooks regulations for the edibles and extracts markets.  This means that in Canada, it is illegal for anyone to possess lotions or other products that may contain extracts such as edibles and nutraceuticals.

This oversight of regulation led to the ruling of a British Columbia Court of Appeals judge that deemed the law unconstitutional. The case began in 2012 when Owen Smith was arrested while baking marijuana infused cookies to distribute at a cannabis club for patients with severe illnesses.  He was charged with possession of THC with the intent to distribute—the THC being baked into the cookies! The original judge ruled in favor of Mr. Smith however, the government fought to appeal the ruling.

The British Columbia Court of Appeals August 2014 ruling is considered a minor victory since the issue has become even more complicated.  You see, since the original arrest and case in 2012, parliament has passed the MMPR, so the judge’s ruling that MMAR was unconstitutional does not apply to the new law.  The newer MMPR program simply replaced state-monopolized production and the ability for patients to grown their own supply with controlled and highly regulated licensed production, it still does not address the issue of extraction and prohibits consumption of any alternative methods such as edibles, oils, or capsules.  The law specifies that the only form permissible is the dried cannabis flower.

While many agree that the ruling is a pivotal case and positive sign for the cannabis industry.  Kirk Tousaw, a cannabis lawyer in British Columbia explained that LPs in Canada are prohibited from making edibles or concentrates but it will allow for a patient of an MMPR to make their own.  He points out that the normal extraction process requires the use of butane and is not safe to do in a residential area.  Even baking with cannabis should not be something attempted by an amateur.  It is difficult for a novice user to obtain proper dosing and could result in edibles that are too potent, causing adverse side effects when ingested.

In summary, the Canadian law was found unconstitutional on the grounds that enforcing only consumption of the dried cannabis plant imposes upon ones civil liberties.  People who have a prescription for marijuana should have the right to choose how they consume their medication.  If the true focus of the MMAR and MMPR is safety, it would go completely against the current arguments of the government to continue to ban LPs from producing extracts. Furthermore, if patients are to be granted legal access to derivatives, then it should be open for all to enter the industry and left to those who have sufficient knowledge and experience.  In the near future, one can expect that Canada will likely reform the current law to allow LPs to work with extracts but for the time being, the responsibility of extraction and creation of edibles is on the shoulders of the patient.

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Supreme Appoints John Fowler President & Director

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec 19, 2014) – Supreme Pharmaceuticals Inc. (“Supreme” or the “Company”) (OTC PINK:SPRWF)(CSE:SL) is pleased to report that at its annual meeting today John Fowler was elected to the board of directors and appointed as the President of the Company. The Company has also added Dr. Youbin Zheng to its advisory board.

Mr. John Fowler, previously Director of Operations, was elected to the board of directors, and will be assuming the position of President of Supreme. Mr. Fowler began working in the medical marijuana sector over ten years ago. He pursued a career in law to assist medical marijuana patients with legal issues ancilliary to medical marijuana use. Most recently, Mr. Fowler practiced law at a prominent Toronto law firm. Mr. Fowler is committed to providing Canadians access to high-quality, low-cost medical marijuana and working with the medical community to improve physician education and support for medical marijuana.

Dr. Youbin Zheng, PhD, MPhil, MAg, Bag, has been appointed as the newest member of the Company’s advisory board. Mr. Zheng is currently an Associate Professor and Environmental Horticulture Chair, at the University of Guelph. He has many years of experience in horticulture research, especially in vegetable and ornamental plant production in controlled environments (e.g. greenhouses) in Canada, England, Japan and China. Recent research projects include greenroofs, urban agriculture, organic vegetable production in greenhouses, CO2 enrichment and its effects on photosynthesis, respiration, transpiration, nutrient uptake and crop production, irrigation and water treatment for sustainable horticulture, and the development of sustainable plant production systems. Mr. Zheng is a highly distinguished expert in the field of horticulture and will be a key advisor to the Company and its grow operations moving forward.

The Company has agreed to settle certain payment obligations pursuant to a consulting agreement by the issuance of 390,000 common shares of the Company on January 2, 2015.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the up grading of the facility, the timing on completion of the MMPR License conditions and the start of production. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com and such factors as the Company failing to finish the upgrading of the facility and put the same into production in accordance within the terms of the MMPR license. This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995.

Contact:
Supreme Pharmaceuticals Inc.
Investor Relations
430 – 580 Hornby Street, Vancouver BC, V6C 3B6
604.674.2191
info@supreme.ca
www.supreme.ca

0 59

Form 10-Q/A for TAURIGA SCIENCES, INC.

19-Dec-2014

Quarterly Report

FACTORS” IN THIS “MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS” AND ELSEWHERE IN THIS REPORT. THE FOLLOWING DISCUSSION AND ANALYSIS SHOULD BE READ IN CONJUNCTION WITH “SELECTED FINANCIAL DATA” AND THE COMPANY’S FINANCIAL STATEMENTS AND NOTES THERETO INCLUDED ELSEWHERE IN THIS REPORT.ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

We are a Florida corporation formed on April 8, 2001. We were originally organized to be a blank check company.

On June 8, 2009, the Board of Directors approved the change of name to “Novo Energies Corporation”. As described in a report filed with the United States (“U.S.”) Securities and Exchange Commission on June 26, 2009, a majority of shareholders executed a written consent in lieu of an Annual Meeting (the “Written Consent”) effecting the change of the name of our business from “Atlantic Wine Agencies, Inc.” to “Novo Energies Corporation” on June 8, 2009 to better reflect what we then intended to be our future operations. We filed an amendment to our Articles of Incorporation on June 8, 2009 with the Florida Secretary of State to affect this name change after receiving the requisite corporate approval.

On June 23, 2009, the Board of Directors approved a 3-for-1 forward stock split. Accordingly, all share and per share amounts have been retroactively adjusted in the accompanying financial statements.

On July 30, 2009, Novo Energies Corporation (“Novo”) formed a wholly-owned subsidiary, WTL Renewable Energy, Inc. (“WTL”). WTL was established as a Canadian Federal Corporation whose business is to initially research available technologies capable of transforming plastic and tires into useful energy commodities. Simultaneously, WTL also intended to plan, build, own, and operate renewable energy plants throughout Canada utilizing a third party technology and using plastic and tire waste as feedstock. On May 8, 2012, the name was changed to Immunovative Canada, Inc.

On May 17, 2011, Novo entered into an exclusive memorandum of understanding with Immunovative Clinical Research, Inc. (“ICRI”), a Nevada corporation and wholly-owned subsidiary of Immunovative Therapies, Ltd. (“ITL”), an Israeli corporation pursuant to which the Company and ICRI intended to pursue a merger resulting in Novo owning ICRI.

In April 2012, the Board of Directors approved the change of name to “Immunovative, Inc.” As described in a report filed with the United States (“U.S.”) Securities and Exchange Commission on April 30, 2012, a majority of shareholders executed a written consent in lieu of an Annual Meeting (the “Written Consent”) effecting the change of the name of our business from “Novo Energies Corporation” to “Immunovative, Inc.” on April 2, 2012 to better reflect what we then intended to be our future operations. We filed an amendment to our Articles of Incorporation on April 30, 2012 with the Florida Secretary of State to affect this name change after receiving the requisite corporate approval.

On January 8, 2013, the Company received from ITL, a notice by which ITL purported to terminate the License Agreement dated December 9, 2011 between the Company and ITL (the “ITL Notice”), along with alleged damages. It is the Company’s position that ITL breached the License Agreement by delivering the ITL Notice and, that prior to the ITL Notice, the License Agreement was in full force and, on January 17, 2013 and that the Company had complied in all material respect with the License Agreement therefore the Company believes that there are no damages to ITL. As such, on January 17, 2013, the Company filed a lawsuit against ITL, which included the request for various injunctive relief against ITL for damages stemming from this breach.

On February 19, 2013, the Company and ITL entered into a settlement agreement whereby the parties have agreed to the following: (1) the Company will submit a letter to the Court advising the Court that the parties have reached a settlement and that the Company is withdrawing its motion, (2) ITL will pay the Company $20,000, (3) ITL will issue to the Company, ITL’s share capital equivalent to 9% of the issued and outstanding shares of ITL, (4) the Company will change its name and (5) the settling parties agree that the license agreement will be terminated.

On March 13, 2013, the Board of Directors approved the change of name to “Tauriga Sciences, Inc.” from “Immunovative, Inc.” We filed an amendment to our Articles of Incorporation on March 13, 2013 with the Florida Secretary of State to affect this name change after receiving the requisite corporate approval. The Company’s symbol change to “TAUG” was approved by FINRA effective April 9, 2013.

In March 2013, the Company signed a Memorandum of Understanding (“Marvanal MOU”) with Marvanal, Inc. (“Marvanal”), a company who is an approved vendor with the State of Connecticut public school food lunch program (“CT Food Program”). Marvanal’s lactose-free dairy products are authorized for the 2012-2013 CT Food Program and is currently developing a comprehensive line of dairy products utilizing a specific food-protein concentration-based technology. The Marvanal MOU was for the Company to acquire the exclusive marketing rights within the State of New York for Marvanal’s lactose-free, dairy product line. The Company is not pursuing the Marvanal MOU.

In May 2013, the Company signed a Memorandum of Understanding (“Constellation MOU”) with Constellation Diagnostics, Inc. (“Constellation”). Constellation is a developer of camera-based technology with the goal of preventing skin cancer through early detection. Under the terms of the Constellation MOU, the Company and Constellation will establish a joint venture partnership to develop and commercialize a novel, imaging-based diagnostic technology for use in predictive and preventative oncology. Constellation has already begun product development in collaboration with professors at the Massachusetts Institute of Technology (“MIT”) and Harvard University. The Company made an initial investment in Constellation of $100,000 for a 2% equity stake. The Constellation MOU provides the potential of the Company earning an equity stake in Constellation of up to 35% with up to $1,000,000 in investments.

On May 31, 2013, the Company signed a Licensing Agreement with Green Hygienics, Inc. (“GHI”) to enable the Company on an exclusive basis for North America, to market and sell 100% tree-free, bamboo-based, biodegradable, hospital grade wipes, as well as other similar products.

On October 29, 2013, the Company entered into a strategic alliance agreement with Bacterial Robotics, LLC (Bacterial Robotics), hereinafter referred to as the “Parties”. Bacterial Robotics owns certain patents and/or other intellectual property related to the development of genetically modified micro-organisms (GMOs) and GMOs tailored to perform one of more specific functions, one such GMO being adopted to clean polluting molecules from wastewater, such GMO being referred to herein as the existing BoctoBot Technology (the BR Technology). Bacterial Robotics is developing a whitepaper to deliver to the Company for acceptance. Upon acceptance by the Company, the Parties will form a strategic relationship through the formation of a joint venture in which the Company will be the majority and controlling owner which will use the NuclearBot Technology to further the growth of the nuclear wastewater treatment market. The intent is for Bacterial Robotics to issue a 10 year license agreement.

On November 25, 2013, the Company executed a definitive agreement to acquire Pilus, a developer of alternative cleantech energy platforms using proprietary microbial solutions that creates electricity while consuming polluting molecules from wastewater (The wastewater is a $10 billion industry). Pilus is converging digester, fermenter, scrubber, and other proven technologies into a scalable Electrogenic Bioreactor (“EBR”) platform. This transformative technology is the basis of the Pilus Cell�. The EBR harnesses genetically enhanced bacteria, also known as bacterial robots, or BactoBots�, that remediate water, harvest direct current (“DC”) electricity, and produce economically important gases. The EBR accomplishes this through bacterial metabolism, specifically cellular respiration of nearly four hundred carbon and nitrogen molecules. Pilus’ highly metabolic bacteria are non-pathogenic. Because of the mediated biofilm formation, these wastewater-to-value BactoBots resist heavy metal poisoning, swings of pH, and survive in a 4-to-45 degree Celsius temperature range. Additionally, the BactoBots are anaerobically and aerobically active, even with low BOD/COD. On January 28, 2014, the acquisition was completed. Pilus will operate as a wholly-owned subsidiary of the Company. As a condition of the acquisition, Pilus will get one seat on the board of directors, and the shareholders of Pilus will receive 100,000,000 shares of common stock of the Company, which represented a fair market value of approximately $2,000,000. In addition, the Company paid Bacterial Robotics, LLC (“BRLLC”), formerly the parent company of Pilus, $50,000 at closing. In total, the Company paid BRLLC $125,000, which is inclusive of fees contractually owed for strategic alliance, definitive agreement, and the completion of Pilus.

The Company has signed Memorandum of Understandings (“MOU”) and/or Letter of Intents (“LOI”) with various groups and/or companies and is currently negotiating for completion of the respective agreements to include one or more operations into the Company. These MOUs and/or LOIs have all been released as public information through a Form 8-K and/or a press release. There are no guarantees that the outstanding MOUs and/or LOIs will be finalized.

The following Management Discussion and Analysis should be read in conjunction with the consolidated financial statements and accompanying notes included in this Form 10-Q.

RESULTS OF OPERATIONS

Three months ended December 31, 2013 compared to the three months ended December 31, 2012

Revenue. The Company is currently developing its business, and as a result has no products or services to offer and no revenues.

Selling, General and Administrative Expenses. For the three months ended December 31, 2013, selling, general and administrative expenses were $1,162,138 compared to $2,703,686 for the same period in 2012.

Impairment of advances to Immunovative Therapies, Ltd. for future stock ownership. For the three months ended December 31, 2013, the impairment expense was $0 compared to $885,000 for the same period in 2012. The Company, under the license agreement with Immunovative Therapies, Ltd., advanced funding to facilitate research and development. The Company impaired the advances as the value was undeterminable at the time.

Other income (expense) decreased $266,536 compared to $3,410 for the three months ended December 31, 2013, as result of an increase in interest expense of $104,473, offset by a gain in the change of the derivative liability.

Net Loss. We generated net losses of $924,269 for the three months ended December 31, 2013 compared to $3,592,683 for the same period in 2012, a decrease of 74.3%.

Nine months ended December 31, 2013 compared to the nine months ended December 31, 2012

Revenue. The Company is currently developing its business, and as a result has no products or services to offer and no revenues.

Selling, General and Administrative Expenses. For the nine months ended December 31, 2013, selling, general and administrative expenses were $4,460,880 compared to $5,479,420 for the same period in 2012. The expense for 2013 is primarily composed of a stock-based compensation ($3,101,043), accounting fees ($103,015), legal fees ($207,748), and consulting fees ($272,568).

Impairment of advances to Immunovative Therapies, Ltd. for future stock ownership. For the nine months ended December 31, 2013, the impairment expense was $0 compared to $2,714,049 for the same period in 2012. The Company, under the license agreement with Immunovative Therapies, Ltd., advanced funding to facilitate research and development. The Company impaired the advances as the value was undeterminable at the time.

Other income (expense) decreased $245,407 compared to $5,922 for the nine months ended December 31, 2013, as result of an increase in interest expense of $291,088, a loss on conversion of debt of $321,000 offset by change in the derivative liability of $435,256.

Net Loss. We generated net losses of $4,760,293 for the nine months ended December 31, 2013 compared to $8,207,636 for the same period in 2012, a decrease of 33.2%.

Liquidity and Capital Resources

We continue to fund our operations through private placement offerings and other financings.

During the nine months ending December 31, 2013, the Company sold 4,569,248 shares of common stock for a total of $141,350.

During the nine months ending December 31, 2013, the Company issued Convertible Notes aggregating $1,515,138.

At December 31, 2013, we had cash and cash equivalents of $67,628 compared to $143,034 at March 31, 2013.

Cash Flows

Net cash used in operating activities amounted to $4,885,906 for the period from December 12, 2011 (inception of Development Stage) to December 31, 2013. Net cash used in operating activities for the nine months ended December 31, 2013 and 2012 was $1,505,163 and $2,519,916, respectively.

During the nine months ended December 31, 2013, we used $243,884 in investing activities, primarily the acquisition of the license agreement.

During the nine months ended December 31, 2012, we used $2,675,883 in investing activities primarily related to the advances to Immunovative Therapies Ltd., for future stock ownership.

During the period from inception December 12, 2011 (inception of the Development Stage) to December 31, 2013, we generated $8,548,506 net of $643,956 in cash paid for commission and issued 5,335,000 shares of the common stock for commission paid with stock.

During the nine months ended December 31, 2013, we generated cash from financing activates of $1,656,488 primarily from the sale of common stock. During the nine months ended December 31, 2012, we generated cash from financing activities of $4,644,803 primarily from the sale of common stock.

We do not believe that our cash on hand at December 31, 2013 will be sufficient to fund our license agreement requirements if all the conditions of the license agreement required of the licensor are met. We will continue to seek additional equity financing. However, there is no assurance that we will be successful in our equity private placements.

Going Concern Qualifications

The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company had no revenue and net losses of $4,760,293 for the period ended December 31, 2013 compared to sales of $0 and net loss of $8,207,636 for the nine months ended December 31, 2012. As discussed in Note 1 to the financial statements, since inception of the Development Stage (December 12, 2011) the Company had losses of $20,501,968 and there are existing uncertain conditions which the Company faces relative to its obtaining financing and capital in the equity markets. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company had working capital deficit and accumulated deficit during the development stage of $1,975,918 and $20,501,968 respectively, at December 31, 2013, and used cash in operations of $1,505,163 in the nine months ended December 31, 2013. The Company is highly dependent on its ability to continue to obtain investment capital from future funding opportunities to fund the current and planned operating levels. The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company’s continuation as a going concern is dependent upon its ability to bring in income generating activities and its ability to continue receiving investment capital from future funding opportunities. No assurance can be given that the Company will be successful in these efforts.