Freedom Lawyers of America

> http://www.cannabisculture.com/articles/3041.html
>
> Marijuana mail-order
> by Bianca Sind (29 Jul, 2003) Three Canadian companies
> offer buds for sale over the Internet.
>
> One sign of Canada's growing acceptance of cannabis is
> the increasing number of marijuana delivery services
> springing up across the country. These businesses
> offer nationwide access to fine buds through the magic
> of mail-order.
>
> Doobie Central
>
> Canada's oldest pot-selling website is Doobie Central.
> Now celebrating their two-year anniversary, Doobie
> Central offers half-ounces for $150 and ounces for
> $250, plus $10 for shipping. They accept cash only.
>
> Their website also offers rolling papers and t-shirts
> for sale as well as cannabis. As a further sign of
> their success, Doobie Central has even started
> offering "Doobie Points" with each purchase, which can
> be collected and cashed in for gift items.
>
> * Doobie Central: www.doobiecentral.com
> * Watch a Doobie Central interview on Pot-TV:
> www.pot-tv.net/archive/shows/pottvshowse-2018.html
>
> Marijuana Home Delivery
>
> The Canadian Marijuana Party sells "therapeutic
> marijuana" through their website at
> marijuanahomedelivery.ca. The site declares that their
> goal is to "provide service to those communities and
> individuals unable to access Canada's established
> compassion clubs."
>
> Their procedure requires clients to become a member
> before placing an order. Membership requirments
> include a doctor's letter or sworn declaration that
> the client suffers from a medical condition treatable
> by cannabis. They accept checks and money orders only.
>
> Marijuana Home Delivery offers a 2 gram trial for $30,
> and 10 grams for $120.
>
> * Marijuana Home Delivery:
> www.marijuanahomedelivery.ca
> * Marijuana Home Delivery in the media:
> www.mapinc.org/drugnews/v03/n210/a07.html
>
> Bud Buddy
>
> A new online pot dealer is Bud Buddy, which recently
> starting advertising on the Cannabis Culture website.
> Based in Vancouver, Bud Buddy offers 3 grams for $45
> and half ounces for $140, shipping included. They
> accept cash only.
>
> Bud Buddy doesn't require a doctor's note or sworn
> declaration, but their order form does include simple
> checkboxes for buyers to declare their use to be
> medicinal, with the broad range of ailments including
> PMS, insomnia and anxiety.
>
> All of these sites state firmly that they only ship
> their buds within Canada, and that orders from the USA
> or other countries will not be filled.
>
> These three services have a good reputation for
> filling their orders and delivering high-quality
> ganja. Undoubtedly these are the first of what will be
> a quickly expanding segment of Canada's cannabis
> economy.
>
> * Bud Buddy: www.budbuddy.biz
>

> An important issue for Stock Options Alert has just been posted.
> You can access the issue on the Internet in Acrobat PDF format at
> http://www.stock-options-alert.com/soaspec0729.pdf
> or you can read the issue in its entirety in text format below.
>
> --------------------------------------------------------------------------
--
>
> July 29, 2003
>
> The party's over -- consumers are calling it quits!
>
> Sometimes we feel sorry for Wall Street's cheerleaders.
> They're all set to pop the champagne and party at the first
> sign of economic improvement. But consumers aren't
> coming -- and without them, the party is over before it
> starts. It's a bitter slap in the face for the bulls, who are
> left to cry in their bubbly and dream of what might have
> been.
>
> Here's the scoop on why consumers aren't buying what
> the bulls are selling -- and what it means for stock prices ...
>
> * Consumer confidence plummets. The Conference
> Board's Consumer Confidence Index fell 8% to 76.6 in
> July from 83.5 in June. Not only is this way below
> expectations, but it's also the lowest reading in
> four months.
>
> (Chart Not Available in Text Format)
>
> Take a look at this chart -- consumer confidence is sliding
> despite the fact that the major combat in Iraq ended on
> May 2, that we've had no more terrorist attacks, that Uday
> and Qusay are dead -- what are consumers afraid of? In a
> word, the economy!
>
> * Job outlook is grim. Unemployment claims hit a
> nine-year high of 6.4% in June, and has consistently
> remained above the 400,000 threshold, signaling weakness.
> And despite dipping under the 400,000 mark last week, July
> data is always shaky due to seasonal auto-manufacturer
> shutdowns and startups.
>
> Furthermore, the weak job market will continue to weigh
> on consumer confidence for months to come. In fact,
> the consumer confidence report showed consumers are
> concerned about future economic trends. The present-
> conditions index fell to 61.9 from 64.2, while the
> expectations index fell to 86.4 from 96.4.
>
> Plus, the number of consumers anticipating an increase in
> jobs in the next six months dropped to 16.8% from 18.9%.
> Those expecting fewer jobs increased to 19.8%. People
> are terrified they'll lose their jobs as companies ship more
> and more work overseas.
>
> As we told you in last week's issue, computer professionals
> are rapidly being replaced by cheaper employees in India
> and China. According to market researchers at Gartner,
> 500,000 information technology (IT) jobs -- that's 1 out of 20 --
> will be transferred overseas in the next 18 months.
>
> And it's not just IT -- everything from call centers to human
> resources is also being outsourced overseas.
>
> In this kind of job environment, no wonder consumers feel
> nervous. Pessimism reigns, and since consumer spending
> accounts for two-thirds of ALL economic activity in the
> United States, curtailed spending is a massive stumbling
> block for the tripping economy.
>
> * Rising interest rates will crush debt-heavy households!
> The economic doldrums of the past three years have been
> marked by historically low interest rates that fueled rising
> home prices. But now, 30-year fixed-rate mortgages are
> soaring. They rose a fourth consecutive week to hit 5.99%
> on Friday, according to Bankrate.com. And rates are just
> lifting off the launch pad!
>
> With mortgage rates rising, this is slamming the door on
> the housing boom. The Mortgage Bankers Association
> also reported the mortgage applications fell 31% during
> the week ending July 18.
>
> * Bankruptcy looms for more and more consumers. In
> every recession since WWII, the ratio of household debt to
> assets has fallen! But in the most recent official recession,
> the household debt-to-asset ratio rocketed to more than
> 18% in the first quarter of this year. US households are
> not prepared for a rising interest-rate environment, and
> that spells bad news for the economy.
>
> In most recessions, bankruptcy rates fall because people
> tighten their purse strings and stop spending. But during
> this recession, bankruptcy filings have surged to record
> levels, rising 9.5% from last year. Take a look at this chart ...
>
> (Chart Not Available in Text Format)
>
> As interest rates continue to rise, debt-heavy Americans
> are going to feel the pinch. And when they go bankrupt,
> consumer lenders -- banks and loan companies -- will foot
> the bill.
>
> What's more, nearly every company depends on consumers
> in one way or another. If consumers sit on their wallets,
> corporate earnings will head south. Speaking of which ...
>
> * Better-than-expected corporate earnings aren't as sweet
> as they seem! About 65% of the top 500 US companies
> have reported earnings, with 66% beating analyst
> expectations, 22% met expectations and 12% fell short.
> Sounds great, doesn't it? But these earnings increases
> have little to do with top-line growth and more to do with
> cost-cutting efforts and the fact that the dollar is tanking
> against foreign currencies -- boosting the revenues of US
> companies that do business overseas.
>
> Dazzled by these superficially high earnings, analysts
> have jacked up their forecasts for the second half of the
> year. They expect third-quarter earnings to increase
> 13.6% and fourth quarter earnings are expected to rise
> by 21.6%, according to Thomson First Call. It's time for
> a reality check!
>
> The bottom line is that wishful thinking can't fool the
> economy into a recovery, and the indicators we are looking
> at say we have a long way to go before the long-awaited
> upturn. But this disconnect between the market and reality
> is an excellent set-up for profits in options. So stay tuned --
> we'll send more recos your way soon.
>
> Best wishes,
>
> Larry and Martin
>

An article in Monday's Washington Times reports that, "About 165
communities nationwide have passed resolutions condemning the USA Patriot
Act. But one little city in northern California has taken its opposition a
step further, making it a misdemeanor for city employees to cooperate in
enforcing the federal antiterrorism measure."
http://www.washingtontimes.com/national/20030720-115938-3269r.htm

CBS.MarketWatch.com Quotes & News:
Market Overview 12:06 pm ET Jul 17, 2003
DJIA 9,065 -29.20 S&P 985 -8.69
NASDAQ 1,710 -37.48 10Yr 4.00% +0.051

Crystallex saga heads for resolution
Trading halt presents buying opportunity, say some

By Thom Calandra, CBS.MarketWatch.com
Last Update: 11:54 AM ET Jul 17, 2003
SAN FRANCISCO (CBS.MW) - The so-called "cheap paper" of small gold miner Crystallex International may get even cheaper when trading resumes in the embattled Toronto company, but not for long.

The potential operator of the vast Las Cristinas gold deposit in Venezuela is in the midst of an accounting review of tricky gold derivatives on the Crystallex balance sheet. A review by new auditors Deloitte & Touche likely will be completed in the next week or 10 days.

Until then, shareholders who own Crystallex shares in Toronto (KRY) or on the American Stock Exchange (KRY) must play the waiting game, hoping against hope the shares are not savaged after the second trading halt this year.

Those who understand the enormous worth of the company's Las Cristinas concession will be buying more shares in Crystallex when Canadian regulators -- the Ontario Securities Commission and the B.C. Securities Commission -- give the green light on trading, regardless of the scope of restatements from accountant Deloitte & Touche.

That's because, quite simply, even the harshest of all possible restatements of the way Crystallex executives treated call contracts and the forward sale of gold produced from working mines in Venezuela and Uruguay in 2000 and 2001 and possibly 2002 will have little or no material impact on operations.



"The asset is unaffected," said Richard Sacks, a large shareholder, referring to Las Cristinas. "Their hedge book is their hedge book, no matter what the notional gain or loss they have to restate," says Sacks, from Phoenix Advisory Services in Chicago.

Or as another large shareholder told me, "You don't own this because of earnings or gold production or restatements. You own it because of 10 million ounces in Venezuela."

Gold miners, among them the world's largest, Newmont Mining (NEM), have restated their treatment of the derivatives that miners use to squeeze extra income from gold sales during a span of flat to falling bullion prices. The difference here is that Newmont and others calculated their restatements and published them in official filings at the same time they alerted the public to new numbers.

Crystallex's restatements almost surely will address the "mark to market" calculations of call options and other derivatives used to manage the sale of gold. Crystallex this year already has restated once

To be sure, large shareholders and some analysts are calling for the resignation of CEO Marc J. Oppenheimer, who has excellent relations with government figures in Caracas but no standing at all within the gold industry. Oppenheimer did not return my telephone calls this week.

"There is a people issue here," says Robert Bishop, the savvy mining analyst who believes the company will change hands at some point soon. "The market does not like Oppenheimer," says Bishop of Gold Mining Stock Report, who along with subscription service The Calandra Report still sees a far higher stock price for Crystallex shares in coming days, weeks and months.



Bishop expects investors "will be buying the stock at some point after it starts trading, whatever the restatement of the restatement turns out to be. The company is in play." See: Crystallex and The Calandra Report.

Some fund managers who own the stock expect new chief operating officer Ken Thomas to take over leadership of Crystallex, with Oppenheimer relegated to nurturing his relationships with Venezuela authorities. Thomas helped develop South American gold properties for Barrick Gold (ABX), among the world's largest bullion producers.

Others expect the company to anoint an investment banker to accelerate a corporate transaction. At Crystallex, company spokesman Richard Marshall said company executives were forthright in their dealings with regulators. "We told the Securities & Exchange Commission in April our financials would change, and after further review, we decided to restate,' Marshall told me this week.

John C. Doody, veteran analyst at Gold Stock Analyst, explained the company's mark-to-market loss on so-called hedges was $18 million at year-end 2002. Crystallex, says Doody, "has been operating under a black cloud for quite a while. Oppenheimer has zero credibility due to a history of misleading announcements, hiding the size of the hedge book until recently, missing public production forecasts by miles."



Doody told me this week he expects Glamis Gold (GLG), a mid-sized gold miner, to pay between $3 and $5 a share for Crystallex. In June, Bishop at Gold Mining Stock Report was first to report to The Calandra Report the sighting of CEO Oppenheimer at the Glamis shareholder meeting.

As for how much a hungry gold miner, eager for the 10 million or so proven and probable gold ounces of Las Cristinas, would pay for Crystallex, Doody notes that Placer Dome (PDG) just paid $100 per proven and probable ounce for a property in Tanzania. That property just began operating at $200-per ounce cash cost, with projected production of 220,000 ounces per year.

"Las Cristinas doesn't have a production facility, but its cash costs will be lower, so assume that's a wash," says Doody. Some 9.5 million ounces at $100 per ounce, divided by approximately 110 million fully diluted Crystallex shares, is $8.64 per Crystallex share. This will never fly unless there is an aggressive bidding war. Figure a 50 percent discount due to Venezuela and its (political) issues. Looks like $4.32 a share, plus or minus $1.

Doody predicts "shareholders will jump with joy. I see Glamis the buyer due its very richly valued paper."

Those who read The Calandra Report know exactly where I stand on the Crystallex story. It's a drama that won't end until the company changes hands, most likely before the New York Institutional Gold Conference set for early September in New York. The stock market is valuing an approximately 21-million-ounce Las Cristinas resource, some 9.5 million ounces of that considered a proven reserve, at roughly $6 an ounce.



Gold miners these days have few choices for such rich pickings in a vast resource. Potential projects of comparable scale are few and far between and include Bema Gold's (BGO) Kupol project in Russia, where early drill results are projecting astonishingly high levels of mineralization.

Crystallex International shares before they stopped trading were selling for $1.54 on the American Stock Exchange. When they resume, expect the shares within minutes or hours or at the most, a day or two, to trade higher.

For more, see Thom Calandra's StockWatch: Crystallex to see light of day

An article in Tuesday's Detroit News reports that, the national-do-not call list "grew to more than 10 million phone numbers in the four days following its launch Friday." According to the article, "The telemarketing industry estimates the do-not-call list could cut its business in half, costing it up to $50 billion in sales each year, said Louis Mastria, a spokesman for the Direct Marketing Association."
(Detroit News)

***************************************************

Memorandum to our Members:

As many of you know, the American Bar Association has challenged in federal district court in the District of Columbia the FTC's view that lawyers who provide real estate, tax and any other financially related advice to individuals are covered by the privacy provisions of the Gramm-Leach-Bliley Act ("Act"). I attended the oral argument a few weeks ago, it went well for
us and I am optimistic about the outcome.

Last Friday the Court advised us that it would be releasing its opinion in mid-July but that it was "concerned" about the July 1 deadline for filing annual privacy notices. To address this concern, our lawyers have prevailed upon the FTC to issue a letter stating that it will not bring an enforcement
action against any lawyer for failing to comply with the notice provisions of the Act prior to the Court's forthcoming decision.

You can read the letter yourself at
http://www.abanet.org/poladv/glbfactsheet/amnestyletter.pdf, but as I read the FTC's letter, it means that if you missed the July 1 deadline this year for sending notices of your "privacy policy" to your individual clients, you will not be subject to an enforcement action by the FTC--even if its interpretation is eventually sustained by the courts.

Of course, I am hopeful that the FTC's view that lawyers are covered by the Act will be struck down by the DC federal court and upheld on appeal. I will let you know as soon as the court renders its opinion.
Alfred P. Carlton, Jr.
President, American Bar Association
For more information on Gramm-Leach-Bliley Act please go to
www.abanet.org/poladv/glbfactsheet.html