RNBI ... Fast and Easy research ..

RNBI popped up on my nightly scanner because it spiked from ¢.15 to ¢.30 today. Looking at the chart it was at ¢.09 last week before that it hadn't traded since 3/28. Yep, March 28th, 2014, it is May 5th today. So, I look up the company on Yahoo Finance and find out it's description:

Rainbow International Corp., a development stage company, acquires and explores mining properties in Turkey. The company primarily explores for lead, zinc, copper, silver, and gold.

Anytime the company description has "development", "explores" I am thinking fake and just a shell to pump and dump, plus it is in Turkey, not like any of us are going to go check out the areas they are "exploring".

So I try to figure out why it has spiked and why the volume all of a sudden, from Stocks to Trade I see that the company filed a Form 8-K, so I read the form, this guy moves shares here, sells to this guy..bla bla... thinking pre promo maybe, getting ready to change the ticker, split some shares.
However, at the bottom of the form it is explaining who the guy is that will control 70.54% of the company now, a Mr. Corn.

On May 1, 2014, Donald Corn was appointed the sole officer and director of the registrant.  Mr. Corn has an extensive business marketing background and has been involved in developing leading edge product offerings in several industries, including the first BioTech Online database for medical researchers; the HUD HomeSource for real estate, and targeted mobile platform applications.  Since then, Mr. Corn has worked as a private investor.  Mr. Corn graduated from USMA in 1971.   From 1971 to 1976, Mr. Corn had a distinguished career as an Officer in the Armed Forces, where he managed the largest supply and maintenance facility in the US Army; later engaged a second career as an IBM computer sales and marketing professional.   Mr. Corn grew up in a large farming operation in Kansas and the Company believes he has a sufficient background to implement both hemp farming operations along the Front Range of Colorado, as well as a production/distribution and nationwide market organization to capitalize on these new growth industry.  

WOW! This is one global company huh? Precious metal mining in Turkey (excuse me, developing and exploring) one day then hemp farming in Colorado the next. Mr Corn "believes" he has the background for hemp farming, so the stock is running on blind faith in his belief.

This DUE DILIGENCE took me all of 5 minutes, if a certain "pack" gets hold of this as the next "weed" play will everyone bother to do the same? For the sake of their accounts I hope they all do.

DISCLAIMER : I HAVE NO POSITION IN RNBI, I WILL NOT BE BUYING OR SHORTING THIS TICKER