Medical Marijuana, Inc. Begins Procedures to Be Quoted on OTC Bulletin Board

MARINA DEL REY, CA — AUGUST 13, 2009 — Medical Marijuana Inc. (Other OTC: MJNA) announced today that it is undertaking the necessary measures to position its stock for quotation on the regulated, OTC Bulletin Board (OTC BB). MJNA has retained a PCAOB-registered CPA firm to begin preparing to have the company’s financial statements audited, according to GAAP.

This move is being done as part of Medical Marijuana Inc.’s effort to become a fully transparent corporation, one that will be attractive to a wider audience and more sophisticated investment interest. OTC BB quotation status for MJNA will also enable market markers to make their own markets in our stock –greatly enhancing MJNA shareholder liquidity.

The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information for over-the-counter (OTC) securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange.

Although the OTCBB does not have any listing requirements per se, to be eligible for quotation on the OTCBB, issuers must remain current in their filings with the SEC. Market Makers are not permitted to begin quotation on the OTCBB of any security whose issuer has not met this filing requirement.

Medical Marijuana, Inc. will be providing further updates to its shareholders as various milestones related to the process are met.

Click on title to go to the full story.....