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Medical Marijuana, Inc.: Medical Marijuana, Inc. Signs the First Cannabis Collective in Venice, California to Use Tax Remittanc

^{Published on 2009-07-02 01:34:49, Last Modified on 2009-07-02 01:34:54 - Market Wire}
 

MARINA DEL REY, CA--(Marketwire - July 2, 2009) - Medical Marijuana, Inc. (PINKSHEETS: [ MJNA ]) expands into Venice, California by signing "99 High Art Collective," which will begin to implement Medical Marijuana, Inc.'s tax remittance card in 4th quarter 2009. "The high energy marketing efforts of our Agents are building major momentum, moving us full steam ahead, as we now have 13 Cannabis Collectives who have agreed to use our Tax Remittance Card," says Rob Griffin, Chief Operations Officer of Medical Marijuana, Inc.

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. Dispensary owners risk employee theft and possible competition for sales with unsupervised employees. Our stored value card also eliminates the risks of carrying cash. For the investor looking to open more than one dispensary, this card allows him the ease of mind of 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 Malibuddha, Inc./"99 High Art Collective" and Their Grand Opening

High Art, High Love, High Quality Medicine. A Cutting Edge Art Gallery Opens Up In Venice Beach With Light Paintings of Psychedelic Pioneers By Dean Chamberlain. Breaking away from the typical gallery model, "99 High Art Collective" will open its doors on July 3rd, 2009, not only as a high art gallery, but also as a Medicinal Cannabis dispensary with world renowned artists, and according to their proprietor and patients, "...very high quality art, love and organic medicine."

"The '99 High Art Collective' is honored to align itself with great luminaries in art, society and health," says co-proprietor, Sam Boyer. The premiere exhibit for the "99" grand opening will be "Portraits of Psychedelic Pioneers," by renowned Venice Beach artist, Dean Chamberlain. The Chamberlain exhibit will run for three months and features light paintings of psychedelic pioneers including Timothy Leary, Ram Dass, Albert Hoffman, Terrence McKena, and Laura Huxley.

A portion of art sale proceeds will go to benefit MAPS, The Multidisciplinary Association for Psychedelic Studies, who have supported medical marijuana research since 1986.

The "99 High Art Collective" proprietors are hopeful that their new "hybrid" gallery/collective will inspire people and heal them. "We believe that art and healing are inseparable," says artist, activist and 99's name sake, Yvonne, aka 99. "Our vision is to bring healing and art together in an environment that will inspire people to reach higher levels of health, consciousness, compassion, and love. We're doing this so people like my mother, who needed medical marijuana, can feel good, inspired and safe."

Grand Opening of the "99 High Art Collective" and the Dean Chamberlain exhibit, July 3rd, 2009, 6-11 pm at 1108 Abbot Kinney Blvd., Venice Beach, California, 90291, followed by a V.I.P. after party from 10-4 am at the Stronghold Speakeasy at 1625 Abbot Kinney Blvd. For V.I.P. after party tickets and info visit [ www.99collective.com ].

For more information on "99 High Art Collective" contact [ info@99collective.com ] or visit [ www.99collective.com ] or 310-450-8699. For more information on MAPS visit [ www.MAPS.org ].