Medical Marijuana, Inc. (PINKSHEETS: MJNA) announced that on Saturday, May 9, 2009 MJNA began its training program via conference calls for Master Agents that are engaged in offering the provisional patent, tax remittance, stored value card to dispensaries and co-ops in California and other states where medical marijuana is, or soon may be, legal. The conference calls explain the tax remittance card in regards to how it works as a solution for the taxing of medical marijuana and the numerous other features inherent in this technology. Over the weekend, MJNA trained Master Agents in California, Florida, Oklahoma, Michigan, Hawaii and Illinois.
Medical Marijuana, Inc. is now opening up these conference calls to its shareholders and interested parties as part of a corporate policy of transparency as to how the company is progressing in the medical marijuana industry. For anyone interested in listening in, and asking questions on how the tax remittance card works, you can do so any day this week at 4:20 PM California time, calling the conference call line via: 218-339-3600 PIN: 321677#.
For More Information, visit Medical Marijuana, Inc. http://www.medicalmarijuanainc.com
Tuesday, May 12, 2009
Wednesday, May 6, 2009
A budget cure: Marijuana taxes?
By John Dyer, MSN Money
Daniel Stein says the salvation of U.S. taxpayers could be marijuana.
As Washington breaks the bank on Wall Street bailouts, President Barack Obama's stimulus package and other spend-now, pay-later measures, most observers agree that politicians will eventually need to increase revenue or cut spending to cover the federal government's debts.
Stein believes Washington could begin to balance its books now if politicians would take a serious look at his industry. The owner of two retail outlets that he claims generate $1 million in revenue annually, Stein says he pays around $80,000 a year in sales taxes to the state of California. But the federal government, which does not acknowledge Stein's sales as legitimate commerce, gets nothing from his business.
Click on Title for full story and videos
Daniel Stein says the salvation of U.S. taxpayers could be marijuana.
As Washington breaks the bank on Wall Street bailouts, President Barack Obama's stimulus package and other spend-now, pay-later measures, most observers agree that politicians will eventually need to increase revenue or cut spending to cover the federal government's debts.
Stein believes Washington could begin to balance its books now if politicians would take a serious look at his industry. The owner of two retail outlets that he claims generate $1 million in revenue annually, Stein says he pays around $80,000 a year in sales taxes to the state of California. But the federal government, which does not acknowledge Stein's sales as legitimate commerce, gets nothing from his business.
Click on Title for full story and videos
Schwarzenegger: Time To Debate Legalizing Pot
In the last week or two, proposals to legalize medical marijuana have advanced in Minnesota, New Hampshire, and Rhode Island.
But Gov. Arnold Schwarzenegger has taken a significant step further, saying on Tuesday that it's time to debate legalizing marijuana for recreational use in California.
"I think it's time for debate," he said in response to a reporter's question. "I think all of those ideas of creating extra revenues -- I'm always for an open debate on it."
Thanks to a 1996 ballot measure, medical marijuana is already legal under California law, though local officials have substantial discretion. Although that conflicts with federal law, the Obama administration has chosen not to target California medical marijuana dispensaries.
"Most Californians support the idea of making marijuana legal," Aaron Smith, the California policy director for the Marijuana Policy Project, told CBSNews.com. "Right now, the state is in a budget fiasco that not going to go away soon... It's about time they look outside the box at ways of generating revenue."
State legislator Tom Ammiano, a San Francisco Democrat, introduced a bill in February to legalize recreational marijuana. Bill AB 390 would license "commercial cultivators of marijuana" and establish a complicated web of regulations and tax rules they and retailers must follow.
It could raise over $1.2 billion a year in new tax revenues, assuming a $50-an-ounce tax, according to one analysis.
"This is only going to increase the governor's popularity," Smith said. "We have solid polling data showing that a majority of Californians are ready for this. It's a good political move, though I don't think he necessarily did it for those reasons alone."
A Field poll (PDF) released on April 30th found that 56 percent of the state's registered voters support legalizing marijuana and taxing its proceeds.
CBSNews.com's Charles Cooper contributed to this report
But Gov. Arnold Schwarzenegger has taken a significant step further, saying on Tuesday that it's time to debate legalizing marijuana for recreational use in California.
"I think it's time for debate," he said in response to a reporter's question. "I think all of those ideas of creating extra revenues -- I'm always for an open debate on it."
Thanks to a 1996 ballot measure, medical marijuana is already legal under California law, though local officials have substantial discretion. Although that conflicts with federal law, the Obama administration has chosen not to target California medical marijuana dispensaries.
"Most Californians support the idea of making marijuana legal," Aaron Smith, the California policy director for the Marijuana Policy Project, told CBSNews.com. "Right now, the state is in a budget fiasco that not going to go away soon... It's about time they look outside the box at ways of generating revenue."
State legislator Tom Ammiano, a San Francisco Democrat, introduced a bill in February to legalize recreational marijuana. Bill AB 390 would license "commercial cultivators of marijuana" and establish a complicated web of regulations and tax rules they and retailers must follow.
It could raise over $1.2 billion a year in new tax revenues, assuming a $50-an-ounce tax, according to one analysis.
"This is only going to increase the governor's popularity," Smith said. "We have solid polling data showing that a majority of Californians are ready for this. It's a good political move, though I don't think he necessarily did it for those reasons alone."
A Field poll (PDF) released on April 30th found that 56 percent of the state's registered voters support legalizing marijuana and taxing its proceeds.
CBSNews.com's Charles Cooper contributed to this report
Tuesday, May 5, 2009
Medical Marijuana Stock Doubles After Changing Name (Update1)
April 28 (Bloomberg) -- A debit-card company that changed its name to Medical Marijuana Inc. more than doubled on its first day of trading on the over-the-counter stock market.
The former Club Vivanet Inc. said it plans to use prepaid cards to manage tax collection and payment processes for marijuana dispensaries in states that allow the drug to be used for medicinal purposes, according to a release sent by Market Wire. The company, trading under the ticker MJNA, will also split its shares 10-for-1, the statement said.
States including Oregon and California allow residents to use marijuana for diseases ranging from cancer to epilepsy and glaucoma. More than 20,000 Oregon residents are registered to use the drug, based on statistics from the state’s Web site.
“This is a sizzle product,” Bruce Perlowin, Medical Marijuana’s chief executive officer, said in a telephone interview from El Paso, Texas. “We eventually want to be the McDonald’s of marijuana.”
Click on Title for full story.
The former Club Vivanet Inc. said it plans to use prepaid cards to manage tax collection and payment processes for marijuana dispensaries in states that allow the drug to be used for medicinal purposes, according to a release sent by Market Wire. The company, trading under the ticker MJNA, will also split its shares 10-for-1, the statement said.
States including Oregon and California allow residents to use marijuana for diseases ranging from cancer to epilepsy and glaucoma. More than 20,000 Oregon residents are registered to use the drug, based on statistics from the state’s Web site.
“This is a sizzle product,” Bruce Perlowin, Medical Marijuana’s chief executive officer, said in a telephone interview from El Paso, Texas. “We eventually want to be the McDonald’s of marijuana.”
Click on Title for full story.
Monday, May 4, 2009
Is Mendicino County About to Tax Marijuana?
Perhaps embracing the national general discussion on the wasteful War on Drugs, marijuana, and the need for tax revenue, on Monday the Mendocino County Board of Supervisors took up a "zip tie" proposal at a special meeting but put off action until May 5.
In Mendocino County the traditional start of the marijuana outdoor growing season begins in April. Mendocino County Sheriff Tom Allman is reprising a program tested in 2007 - medical marijuana zip ties. Allman's office distributed 1,500 test zip ties in 2007 test.
Under the new proposal the zip ties would be sold by the Public Health Department in order to assure compliance with the privacy provisions of the Health Insurance Portability and Accountability Act (HIPAA).
Applicants would be required to present their California Medical Marijuana Card. They will be issued six zip ties unless their doctor recommends more. Allman is proposing that the charge be $25 per tie with a 50% discount for Medicare patients. The ties would be wrapped around the base of the plant and would be imprinted with "Mendocino County MMP" and a serial number.
In Mendocino County the traditional start of the marijuana outdoor growing season begins in April. Mendocino County Sheriff Tom Allman is reprising a program tested in 2007 - medical marijuana zip ties. Allman's office distributed 1,500 test zip ties in 2007 test.
Under the new proposal the zip ties would be sold by the Public Health Department in order to assure compliance with the privacy provisions of the Health Insurance Portability and Accountability Act (HIPAA).
Applicants would be required to present their California Medical Marijuana Card. They will be issued six zip ties unless their doctor recommends more. Allman is proposing that the charge be $25 per tie with a 50% discount for Medicare patients. The ties would be wrapped around the base of the plant and would be imprinted with "Mendocino County MMP" and a serial number.
Medical Marijuana Inc Patents Solution to a Taxing Problem
It is doubtless one of the largest stumbling blocks in the 'normalization' of the fast-growing American medical marijuana industry. Namely, how does Uncle Sam get his share of the big green pie?
But an entrepreneur from the United States has come up with a solution which he says, will not only make sure every dime bag sold pays into the cash-starved US administration, but it will also protect the people who are putting themselves in the firing line. Business people across the US who provide safe access facilities for the 25 million some-odd US citizens in 13 states, who have access to medical cannabis with a doctors recommendation.
Medical Marijuana Inc.
Bruce Perlowin is the CEO of Medical Marijuana Inc. A company which has come up with the solution to the problem, and it has recently filed a provisional patent application to protect its new concept.
The concept? To provide the ongoing management for what it calls its 'stored value platform'.
After filing for a provisional patent based on a revolutionary invention which its said, creates a solution in the tax remittance sector of the medical marijuana industry, Medical Marijuana, Inc. has now finalized the last two steps in bringing this product to a market place which is desperate for such a financial solution.
By finishing up the agreements with Club Vivanet to provide their processing platform and processing bank, Medical Marijuana, Inc. is now ready to take their tax solution to the Medical Marijuana dispensaries and collectives. The front line troops.
Club Vivanet's processing license allows Medical Marijuana Inc the flexibility to implement their newly created Point of Sale system, which will provide for the settlement of state and local taxes on the sale of medical marijuana. A market set to be worth a billion dollars PDQ.
Medical Marijuana Inc is set to start Beta testing its revolutionary payment platform beginning in June 2009. Which will include card production, card loading, hardware additions and ACH settlement to the depository bank and operating/tax bank accounts.
But an entrepreneur from the United States has come up with a solution which he says, will not only make sure every dime bag sold pays into the cash-starved US administration, but it will also protect the people who are putting themselves in the firing line. Business people across the US who provide safe access facilities for the 25 million some-odd US citizens in 13 states, who have access to medical cannabis with a doctors recommendation.
Medical Marijuana Inc.
Bruce Perlowin is the CEO of Medical Marijuana Inc. A company which has come up with the solution to the problem, and it has recently filed a provisional patent application to protect its new concept.
The concept? To provide the ongoing management for what it calls its 'stored value platform'.
After filing for a provisional patent based on a revolutionary invention which its said, creates a solution in the tax remittance sector of the medical marijuana industry, Medical Marijuana, Inc. has now finalized the last two steps in bringing this product to a market place which is desperate for such a financial solution.
By finishing up the agreements with Club Vivanet to provide their processing platform and processing bank, Medical Marijuana, Inc. is now ready to take their tax solution to the Medical Marijuana dispensaries and collectives. The front line troops.
Club Vivanet's processing license allows Medical Marijuana Inc the flexibility to implement their newly created Point of Sale system, which will provide for the settlement of state and local taxes on the sale of medical marijuana. A market set to be worth a billion dollars PDQ.
Medical Marijuana Inc is set to start Beta testing its revolutionary payment platform beginning in June 2009. Which will include card production, card loading, hardware additions and ACH settlement to the depository bank and operating/tax bank accounts.
Medical Marijuana Inc - Poacher Turned Gamekeeper
It would be fair to say Bruce Perlowin, CEO of Medical Marijuana Inc, (NASDAQ 'MJNA'), is something of an enigma. On the one hand the future looks extremely bright for him. In case you've been living under a rock, Perlowin has recently patented the first medical marijuana tax collection system in the world.
A debit card based concept, which deducts a person's state tax liability at source. Meaning not only is the medical marijuana dispensary owner covering his tail from the unwanted attentions of the federal bullies who are doing everything in their power to curtail the legitimate trade in medical marijuana, but the patient himself can be assured he is buying his medicine from a medical marijuana dispensary which is doing everything in its power to abide by the confusing 'state versus federal' medical marijuana laws which apply in thirteen US states currently, (it could be fourteen states - like I said, its confusing).
Rules and regulations, which it seems, are tied up in so much red tape and bureaucracy as to make them unfathomable even to District Attorney's and Senior Court Judges alike. And when you add the fact Perlowin’s company recently became public stock, which is listed, and trading healthily on the NASDAQ, allied to the fact Medical Marijuana Inc stock is attracting interest from Australia and New Zealand, Europe and Asia, as well as the emerging United States medical marijuana markets, "bright" would be a term which would sum up Bruce Perlowin’s future quite nicely.
Click on Story Title to read full story
A debit card based concept, which deducts a person's state tax liability at source. Meaning not only is the medical marijuana dispensary owner covering his tail from the unwanted attentions of the federal bullies who are doing everything in their power to curtail the legitimate trade in medical marijuana, but the patient himself can be assured he is buying his medicine from a medical marijuana dispensary which is doing everything in its power to abide by the confusing 'state versus federal' medical marijuana laws which apply in thirteen US states currently, (it could be fourteen states - like I said, its confusing).
Rules and regulations, which it seems, are tied up in so much red tape and bureaucracy as to make them unfathomable even to District Attorney's and Senior Court Judges alike. And when you add the fact Perlowin’s company recently became public stock, which is listed, and trading healthily on the NASDAQ, allied to the fact Medical Marijuana Inc stock is attracting interest from Australia and New Zealand, Europe and Asia, as well as the emerging United States medical marijuana markets, "bright" would be a term which would sum up Bruce Perlowin’s future quite nicely.
Click on Story Title to read full story
Friday, May 1, 2009
Medical Marijuana, Inc. Completes Banking and Processing Agreement
Medical Marijuana, Inc. announced today the completion of an agreement to implement MMI's provisional patent application and provide the ongoing management for the stored value platform.
After filing for a provisional patent based on a revolutionary invention last month involving a solution in the tax remittance sector of the medical marijuana industry -- Medical Marijuana, Inc. has now finalized the last two steps in bringing this product to the market place. By finishing up the agreements with Club Vivanet to provide their processing platform and processing bank -- Medical Marijuana, Inc. is now ready to take their tax solution to the Medical Marijuana dispensaries and collectives.
Click on Title for full story......
After filing for a provisional patent based on a revolutionary invention last month involving a solution in the tax remittance sector of the medical marijuana industry -- Medical Marijuana, Inc. has now finalized the last two steps in bringing this product to the market place. By finishing up the agreements with Club Vivanet to provide their processing platform and processing bank -- Medical Marijuana, Inc. is now ready to take their tax solution to the Medical Marijuana dispensaries and collectives.
Click on Title for full story......
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