Category: Teri Buhl – Regulated Cannabis & Hemp Industry Investigative Journalism

Canadian cannabis stocks hide compensation consultant fees

Canadian cannabis company CEOs have been making big pay packages over the last few years coinciding with net losses. But, they have not been disclosing details required by Canadian law about who they employ to come up with the pay formulas and how much these consultants are paid.

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SEC Inquiry starts at CBD company Folium Biosciences Post Failed Australis Merger

U.S. cannabis company Australis called off its reverse merger with Colorado-based CBD wholesale company, Folium Biosciences, this month stating their due diligence found new information that made them want to back-out of the deal. Australis ($AUSA) didn’t explain in the press release what that new information was but Cannabis Law Report reviewed private communication from an Aurora board member that said Australis parent company, Aurora, was alarmed at Folium’s recent massive layoffs and their was real concern that the accusations in one former employee’s lawsuit, filed in Federal court, against Folium could lead to “catastrophic loss”.

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Press Release: Australis Capital Announces Termination of Merger Agreement with Folium Biosciences

Feb. 18, 2020 /PRNewswire/ – Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) (“AUSA” or the “Company”) previously announced on, December 11, 2019, a proposed merger by and among AUSA, Folium Equity Holding LLC (“Folium”) and Folium Merger Sub, LLC by which Folium would become a wholly owned subsidiary of AUSA, and AUSA would be rebranded as and carry on the business of Folium. AUSA recently discovered new relevant information with regard to Folium and, on that basis, AUSA has decided to not proceed with the merger.

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Another Cannabis Farm Another Alleged Ponzi Scheme

Cannabis farm near Anacortes was center of alleged $4.85 million Ponzi scheme reports the Seattle Times. Surprise surprise look what they’ve been spending other people’s money on, according to the report. “Meanwhile, Russell and his partner, a small-time California film executive named Guy Scott Griffithe, spent $3.5 million of the investors’ money on luxury cars, a 65-foot yacht and other “extravagant luxuries, inappropriate personal expenditures, and unrelated business ventures”

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“Bury My Heart At Wounded Folium” – The Chief Hopes To Ride Into The Sunset With Australis Merger

The final part of our 3 part series by Teri Buhl about Colorado CBD outfit Folium Biosciences. The CEO of Folium Biosciences, Kashif Shan, is accused of violating a cease and desist order issued by the Colorado Spring fire department who had attempted to shut down the company’s CBD extraction plant because many regulations and safety codes were being ignored by the company and its senior management team. Brett Lacey, CS Fire Marshall, confirmed for Cannabis Law Report that his staff had tried to serve Shan a summons for a criminal misdemeanor for continuing to extract THC from their industrial hemp when under the C&D order but Shan dodged the summons for a year and the statute of limitations  subsequently ran out.

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CO Hemp Clone Farm, “National Hemp Exchange”, Used Client’s Money For Own Investment Purposes

Teri Buhl writes for Cannabis Law Report, “A real estate entrepreneur from Texas, Robert W. Mertz, is being accused of civil theft and conspiracy for keeping hundreds of thousands of dollars from the sale of unhealthy hemp clones to a Colorado farm and using the money to improve his hemp farm infrastructure so the two year old farm could be flipped and sold. In September, MTN Botanicals, based in Fort Collins Co., sued Mertz, his head grower, head of sales and the company which is known as National Hemp Exchange in Colorado district court in the county of Rio Grande. Since the lawsuit the entire crop of clones sold by National Hemp Exchange, worth around $600,000 resulted in a loss and MTN Botanicals now wants triple damages. The lawsuit accuses Mertz of basically running his hemp farm as a Ponzi scheme.”

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USA: SEC Obtains Touting & Fraud Judgement Against Colorado Cannabis Stock Promoter,

Washington, D.C., Dec. 9, 2019 – A Colorado stock promoter and two of his companies agreed to pay $4.2 million to settle the U.S. Securities and Exchange Commission’s charges for fraudulently promoting and trading a cannabis stock. On Dec. 5, 2019, the U.S. District Court for the District of Colorado entered the final judgment. The SEC have revealed in a press release today.

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Sol Global Now In The Business Of Putting Lead In Their Hemp / CBD Products Beware of The Brand TRUWOMEN

Sol Global has ownership in the company HeavenlyRX and negotiates a lot of their contracts and one of their brands TRUWOMEN has put out a number of products, bars & proten powder that has been found to contain lead according to tests undertaken by The Environmental Research Center in San Diego. We have pictured these products for you so you know what to avoid . There are currently two lawsuits in play.

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FBI Sting Catches Cannabis Stock Manipulators: PotNetwork Holdings Exposed

Teri Buhl writes for Cannabis Law Report, ” Three South Florida men have been arrested as part of a ring of cannabis stock manipulators by the Northern Ohio Department of Justice. Charles Vaccaro, Eli Taieb, and Dror Svorai were all charged with securities fraud, wire fraud, and conspiracy after two FBI agents went undercover posing as bad actors willing to funnel the trio’s illegal stock gains back into their U.S. bank accounts.”

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