Science & Technology
Science and Technology
Science and Technology
Wed, October 21, 2009 Medical Marijuana, Inc.: Medical Marijuana, Inc. Launches Seminar and Training Program
MARINA DEL REY, CA--(Marketwire - October 21, 2009) - Medical Marijuana, Inc. (
Among significant topics to be covered are clarification of State, City and County laws and ordinances governing Medical Marijuana collectives in regard to dispensaries and cultivation. This is tied into Medical Marijuana, Inc.'s transparent patent pending Tax Remittance and Closed Loop Inventory Tracking Systems to ensure total compliance. Also discussed are the cottage industries that will sprout from the core medical marijuana industry beyond cultivation and collectives; cannabis kitchens and bottling companies, testing facilities, distribution and logistics, delivery services, security and more.
REVENUE
The seminar series signals a significant new revenue stream for MMI as schedules will expand to the other 13 states where Medical Marijuana use is legal. In addition to the fees earned initially at the 2 day seminar, MJNA will continue to earn income as these attendees go on to open collectives and use the MJNA tax collection and tracking systems.
An additional revenue stream that MMI will offer is turnkey solutions to those interested in going on to the next step. Paramount to the turn key solution is the ability to cultivate. To that end, MMI will offer grow solutions in part or whole including hydroponic and airponic indoor systems and peripherals. MMI's paid seminar attendees are likely to take advantage of in-house expertise and materials.
MEDICAL MARIJUANA, INC.'S TURNKEY COLLECTIVE SOLUTION
Medical Marijuana, Inc.'s Turnkey Collective Solution ensures that collectives operate within the guidelines of all laws and regulations regarding the tracking of the marijuana from grow cycle to final distribution. By employing Medical Marijuana, Inc.'s closed loop tracking system, it can be shown to authorities and collectives alike that the source of their supply was an active member of the collective. Medical Marijuana, Inc.'s Regulatory Module provides officials with a comprehensive reporting tool that allows them to remotely audit the industry in real time to ensure regulations are being properly followed. This audit function can be performed online and remotely from the regulators desktop anywhere in the world, making the process more efficient and cost effective for governments to monitor and regulate the industry. Medical Marijuana, Inc. believes that tools to regulate the industry and collect tax revenue are necessary to gain nationwide acceptance and legalization of medical marijuana. Further, Medical Marijuana's Tax Remittance Platform could not only cost-effectively implement the necessary infrastructure to collect on every sale made within city limits by licensed collectives and collect those taxes on a daily basis, but eliminate the cash problem by using a tax remittance, credit, debit, or proprietary card. The POS system automatically recognizes the collective's tax ID number, state and local tax rates and then provides Automated Clearing House settlement of the taxes and routes the amount to the City's appointed financial institution. Taxes can be collected on a daily basis, providing an economic windfall for the city of Los Angeles and any other municipality recognizing the advantages of this model.
Tax Collection
The Stored Value Platform System will provide verifiable solutions to manage the difficult task of revenue and taxation collection. 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 system also eliminates the legal and practical risks of carrying cash.
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 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 industry. The scientific recognition of marijuana as a powerful medicine, and as an effective, non-narcotic pain reliever, has brought legalized marijuana use to the forefront of mainstream discussion thus opening the door for safe and lucrative investment opportunities.
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.
