Science & Technology
Science and Technology
Science and Technology
Mon, August 17, 2009 Medical Marijuana, Inc.: Medical Marijuana, Inc. Recognized by Forbes as a Solutions Provider for the Medical Marijuana Industr
MARINA DEL REY, CA--(Marketwire - August 17, 2009) - Medical Marijuana, Inc. (
The article entitled "ObamaCare's Medical Marijuana" by Rachel Ehrenfeld, 08.13.09, 04:00 PM EDT also recognizes that
George Soros has been pushing for legalization of marijuana for the past 16 years.
MJNA intends to be one of the organizations to submit a proposal to The National Institute on Drug Abuse (NIDA) which Forbes says is venturing into the distribution and production of marijuana cigarettes. According to the Aug. 5 solicitation for proposals, the selected organizations will be controlled by the Drug Enforcement Administration (DEA), and will have to comply with FDA regulations.
The articles also points out that "the government is soliciting organizations that can grow marijuana on a 'large scale,' with the capability to 'prepare marijuana cigarettes and related products ... distribute marijuana, marijuana cigarettes and cannabinoids, and other related products' not only for research, but also for 'other government programs.'"
The article states "A revenue collection system is already in place to ensure the tax revenues for the states that allow 'medical marijuana.' The system, developed by Medical Marijuana, Inc., boasts, 'The Stored Value Platform System, a point-of-sale system, is a hallmark element of Medical Marijuana's business solutions package.' The company has already signed on many marijuana collectives, and lobbies heavily to sign on the City of Oakland, Calif., which is the first city in the nation that voted in favor of collecting tax proceeds from marijuana sale, 'as part of the solution to Oakland's longstanding budget shortfall.'"
MJNA also intends to introduce products and services that will diminish any negative aspects (incorrectly covered in the article) and enhance the positive aspects benefiting medical marijuana patients; however, while MJNA appreciates the recognition by Forbes, we do not endorse all of the opinions and conclusions stated in the article. To see responses to this article on a third party medical marijuana advocacy web blog, visit:[ http://blog.mpp.org/medical-marijuana/idiocy-at-forbes-com/08132009/ ]
About Rachel Ehrenfeld
Rachel Ehrenfeld is the author of "Funding Evil: How Terrorism is Financed and How to Stop It," and she is director of the American Center for Democracy.
ABOUT MEDICAL MARIJUANA INC.
Medical Marijuana, Inc. (
Medical Marijuana, Inc. has developed a suite of turnkey business and management solutions for the fledgling medical marijuana collective industry in California. An expanding number of states that have legalized the use of medical marijuana have yet to establish a system for the legalized commercial production and sale of the medicine. These regions are also strong potential targets for Medical Marijuana, Inc.'s products and services down the road. It is likely that other states will follow California's basic lead as the Golden State more specifically defines the regulations and protocol that are shaping the supply-side of the legal medical marijuana sector.
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.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
