Tuesday, September 1, 2009

Medical Marijuana, Inc. Signed 5 More Collectives - Total of 28 In 5 States & 2 Countries

MARINA DEL REY, CA--(Marketwire – September 1st, 2009) - Medical Marijuana, Inc. (OTC: MJNA) expands further by signing VM Enterprises in Woodbridge, NJ; Medical Cannabis Management in Cardiff, CA; Sacred Herb Cooperative in Newport, MI; Morning Star Collective in Detroit, MI and the first in the State of Washington, Botanical Urban Dispensary in Everett, WA. These collectives will be using the tax remittance system developed by MJNA, showing their intent to comply with proper business practices regarding tax remittance to the proper agencies. These collectives will be in full compliance with one of the most crucial aspects of proper distribution of Medical Marijuana.

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 new investment opportunities.

Tax Collection
The Stored Value Platform System will provide verifiable solutions to manage the 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 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, which present various challenges, such as risk of theft for Dispensary owners and risks of carrying cash. Customers are issued a debit card or medical revenue card for use at the dispensaries. The POS system can even monitor multiple locations.

Medical Marijuana, Inc is developing a suite of solutions and tools for the Medical Marijuana Industry that will enable efficient tax compliance and business management, delivered in a secure (patent pending) infrastructure.

For further details on Medical Marijuana, Inc. contact:

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