Friday, April 3, 2009

Medical Marijuana, Inc. Formerly Club Vivanet (OTC: CVIV) Files Patent Application to Satisfy Governmental and Medical Marijuana Dispensary Needs

MARINA DEL REY, CA--(MARKET WIRE)--Apr 3, 2009 -- Medical Marijuana, Inc. formerly Club Vivanet (Other OTC:CVIV.PK - News) announced today that it filed a patent application for its invention, that potentially satisfies various governmental and the medical marijuana dispensaries' needs for tax collection in the medical marijuana industry.

Tax Remittance

Using this new invention, the "Point of Sale" System will recognize the dispensary's tax ID number and the tax rates for state and local taxes as well as provide "Automated Clearing House" (ACH) settlement of the taxes to the proper financial institutions. The state sales tax amount is sent to a database and at the end of the day all money in the sales tax database is cleared and posted through an "Automated Clearing House" (ACH) to the state and other appropriate governmental agencies for that day's collected sales tax. The remaining funds are sent to the dispensary's account or other designations.

The Company proudly introduces a Stored Value Platform System with a full slate of inter-active Financial Services made readily available through a patent pending delivery system, a Stored Value Debit Card.

This Stored Value Platform System will provide verifiable solutions for an inter-agency approach to manage the difficult task of Revenue and Taxation Collection for the Emerging Medical Marijuana Industry.

Taxability of Medical Marijuana Transactions

In February 2007, the California State Board of Equalization (BOE) issued a Special Notice confirming its policy of taxing medical marijuana transactions, as well as its requirement that businesses engaging in such transactions hold a Seller's Permit. According to the Notice, having a Seller's Permit does not allow individuals to make unlawful sales, but instead merely provides a way to remit any sales and use taxes due. BOE further clarified its policy in a June 2007 Special Notice that addressed several frequently asked questions concerning taxation of medical marijuana transactions.

About the Company

Medical Marijuana, Inc. (currently undergoing a 1=10 forward split and symbol change to reflect its new name in the stock market) is positioned to take advantage of opportunities as they appear in the emerging legal medical marijuana industry through an enhanced payment gateway introducing verifiable levels of enhanced security. A trend is in place that clearly indicates medical marijuana is quickly becoming a legal enterprise in need of various solutions in numerous areas.


Plastic debit cards or medical revenue cards are supplied to the Medical Marijuana Dispensary (or Collective/Co-op as they are legally designated in California). The customers of the dispensary are issued the closed loop "Stored Value Card" (SVC). This "Stored Value Card" (SVC) is loaded for the customer by tendering cash to the Dispensary clerk. The Dispensary clerk will load up the new card for the customer using the "Point of Sale" (POS) System which will also recognize the dispensary location, as well as tax rates for the appropriate government agencies.


Having a secure platform for the full service engagement of all financial services directly accessed through on integrated system, allows for a much more secure and confident transaction between customer, vendor and supplier.

The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction. Users are empowered, operators are empowered and Government Agencies are more confident in assuring their collection of taxes and fees while secure in the function of financial interactions.

Operators have the benefit of establishing deeper and more meaningful relationships with their customer base. As such, the operators' ability to enhance their revenue generating capabilities is much greater with the full access to the suite of financial services provided by our vast networked platform. This enables full creative expansion within any sector to a retail operator of which these facilities may choose to engage.

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