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Medical Marijuana, Inc : Medical Marijuana, Inc Captures Market Share in 3 More Counties in California

^{Published on 2009-06-30 01:33:37, Last Modified on 2009-06-30 01:34:23 - Market Wire}
 

MARINA DEL REY, CA--(Marketwire - June 30, 2009) - Medical Marijuana, Inc (PINKSHEETS: [ MJNA ]) continues its expansion with four additional collectives agreeing to use Medical Marijuana, Inc's tax remittance card. Dianna Kaplan, the marketing consultant assisting MMI says, "The addition of these collectives shows their intent to comply with tax laws and provides a more solid basis to build their business on."

The Healing Centers 1 & 2 in Orange County, California, 2 Green Thumbs in Tuolomne County, California and Mother Nurture Collective in San Diego County, California plan to implement the tax remittance card in September 2009.

Medical Marijuana, Inc is the first public company to recognize the vast and unequaled opportunities that exist in the rapidly expanding Medical Marijuana market. The scientific recognition of marijuana as a powerful medicine has brought marijuana to a new status and opened the door for investment and opportunity.

Tax Collection

The Stored Value Platform System will provide verifiable solutions to manage the difficult task of revenue and taxation collection. The "Point of Sale" (POS) system will recognize the dispensary's tax ID number, state and local tax rates and then provide "Automated Clearing House" (ACH) settlement of the taxes to the proper financial institutions. The customers of the dispensary are issued a plastic debit card or medical revenue card. The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction.

Internal Management

All collectives/dispensaries in the U.S. are cash businesses. This presents a number of challenges. For the dispensary owner, he must be there all the time or his employees could be selling their own marijuana to the customers, and keeping the cash. With our Stored Value Card, Dispensary owners are more comfortable knowing all transactions are made with a stored value card. This reduces the losses associated many times with cash transaction businesses. For the investor looking to open more than one dispensary, this card allows him the ease of mind knowing all transactions are accounted for in all of his locations.

Solutions

Medical Marijuana, Inc is developing a suite of solutions to deliver an efficient and secure infrastructure for the Medical Marijuana Industry that will provide the tools to industry operators to effectively manage their businesses with the confidence that they are in full compliance.

About The Healing Centers

The Healing Centers of Laguna Hills and Irvine, California in Orange County began operating because of the foresight they had in assisting qualified patient access to medical marijuana. The Healing Center embraces all aspects of the professional operation of medical marijuana collectives from staff to education in the medical marijuana industry.

Safe Harbor: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.