CNBC's Trish Regan goes behind the scenes to explore the inner workings of this secretive industry, focusing on Northern California's "Emerald Triangle," now the marijuana capital of the U.S. In this scenic pocket of America, the pot business, much of it legal under state law, now makes up as much as two-thirds of the local economy.
The documentary reveals the staggering size of the illegal end of the business and an insight into the potential opportunities available to Medical Marijuana, Inc as legalization continues to sweep across America and MJNA seizes the opportunities to capitalize on every legal facet of this industry.
The show is being aired three days in a row, with future airings available on CNBC: http://www.cnbc.com/id/28281668
Tuesday, May 26, 2009
Thursday, May 21, 2009
Tuesday, May 19, 2009
Medical Marijuana, Inc. Tax Remittance Card Flyer
This is the best in depth description of the MMI card. It has many benefits to both the despensaries and the consumer, as well as satisfying the government regulations and taxes. For the full story.......click on the title
Medical Marijuana Inc Secures MOUs With Cannabis Collectives in New Jersey, Colorado, and California
Medical Marijuana, Inc. (PINKSHEETS: MJNA) announces that three more collectives in the states of New Jersey (pending Governor signature), Colorado, and California have signed Memorandums of Understanding over the weekend to use Medical Marijuana, Inc's patent pending, stored value, tax remittance card. Bruce Perlowin, CEO of MJNA says, "Things are going really well. We started the Master Agent program a few weeks ago for our agents to show dispensaries the advantages with using our Stored Value Card. These latest dispensaries that have signed up continue to show the acceptance of our tax remittance program. This shows the power of our Master Agent program as it sweeps the country."
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 investment and opportunity. States are increasingly passing legislation favorable to the development of a medical marijuana industry; and this progressive policy comes at the request of thousands of constituents with conditions that could be mitigated by the use of marijuana or its related products and reflects the growing body of valid scientific evidence supporting the use of marijuana as a safe and effective medication. Medical Marijuana Inc is the first company in the United States to enter this industry with the intent to consolidate and develop products and services to satisfy emerging markets. In 2009, 13 states have already legalized the medical use of marijuana by qualified patients. In addition AL, CT, DE, IL, IA, MN, NH, NJ, NY, NC, PA, and TN all have medical marijuana legislation currently under review in their state legislatures. It is the intent of Medical Marijuana Inc to remain a dynamic company and take advantage of new opportunities as they emerge.
Read More.....click on Title
Monday, May 18, 2009
Over half of Arizonans say they support medical marijuana
Arizona could soon be the next state to allow medical marijuana use.
The Arizona Medical Marijuana Policy Project is pushing for the issue to be on the 2010 ballot.
The Arizona Medical Marijuana Policy Project is pushing for the issue to be on the 2010 ballot.
Changing federal view of medical-marijuana laws creates opportunity
In March, President Obama's attorney general announced the federal government will no longer prosecute medical-marijuana clinics that operate in compliance with state laws. This means lawmakers in Olympia are now free to decide — without federal interference — how to regulate medical marijuana within Washington state. Click on Title for full story.
Medical Marijuana, Inc. Sponsors Podcasts on Time 4 Hemp Radio
Medical Marijuana is now the new sponsor on Time 4 Hemp's Podcasts - interviews and news related to the medical marijuana industry. Tune in daily to hear the latest...
http://www.time4hemp.com/index.html
Medical Marijuana, Inc. Signs 1st Medical Marijuana Collective to Use the Tax Remittance Card
Medical Marijuana, Inc. is happy to announce that it has signed the first Memorandum of Understanding with a marijuana collective in Southern California to use Medical Marijuana, Inc.'s patent pending, stored value, tax remittance card. Bruce Perlowin, CEO of MJNA, says, "This is just the beginning of a massive marketing program to educate the dispensary owners to the benefits of this program. There are close to 1,000 dispensaries in California today that our Master Agents have begun contacting regarding utilizing our card. With 14 states now going through a process to permit medical marijuana in their state, MJNA is set to capture a good piece of this market as states continue to permit medical marijuana. With revenue in the 4% area, and with the average dispensary doing 1 million dollars a year in sales, we project substantial earnings."
This follows our business plan which includes the Stored Value Card for tax remittance, a merchandising division to promote many of the cannabis related products, clothing lines, distribution, and the testing platform which we hope will standardize the industry with quality control.
Tax Remittance
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.
Using this new invention, the "Point of Sale" System will recognize the dispensary's tax ID number and tax rates for the state and local taxes as well as provide "Automated Clearing House" (ACH) settlement of the taxes to the proper financial institutions.
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.
Solutions
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.
Advantages
The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction. Users and 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.
Dispensary Owners are more comfortable knowing all transactions are made with a stored value card. This reduces the losses associated many times with cash transaction businesses.
MJNA conducts daily conference calls to its 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.
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 line via: 218-339-3600 PIN: 321677#.
This follows our business plan which includes the Stored Value Card for tax remittance, a merchandising division to promote many of the cannabis related products, clothing lines, distribution, and the testing platform which we hope will standardize the industry with quality control.
Tax Remittance
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.
Using this new invention, the "Point of Sale" System will recognize the dispensary's tax ID number and tax rates for the state and local taxes as well as provide "Automated Clearing House" (ACH) settlement of the taxes to the proper financial institutions.
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.
Solutions
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.
Advantages
The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction. Users and 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.
Dispensary Owners are more comfortable knowing all transactions are made with a stored value card. This reduces the losses associated many times with cash transaction businesses.
MJNA conducts daily conference calls to its 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.
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 line via: 218-339-3600 PIN: 321677#.
Group wants marijuana studies program on campus
With California getting serious about legalizing marijuana, can university business courses be far behind? No, believes the Treatments, Herbs and Cannabis Foundation. The recently founded Petaluma organization is lobbying for a “Marijuana Business Program” at Sonoma State University.
The program, which would initially offer a bachelor of science degree in business administration, would be “intended for the student who wishes to be involved in the evolution of today’s marijuana industry.”
The foundation, which favors the spread of medical marijuana clubs, also would like to see a “California Marijuana Research Program” and “Authorized/University Operated Production Facilities.” Such programs would help to “bring forward and cleanse an industry currently infiltrated by gangs, criminals and frauds.”
So far, job postings and program details have been placed on Craigslist, an invitation to join the cause is on Facebook and letters have been dispatched to Gov. Arnold Schwarzenegger, San Francisco D.A. Kamala Harris and Petaluma Police Chief Steve Hood, among others.
The program, which would initially offer a bachelor of science degree in business administration, would be “intended for the student who wishes to be involved in the evolution of today’s marijuana industry.”
The foundation, which favors the spread of medical marijuana clubs, also would like to see a “California Marijuana Research Program” and “Authorized/University Operated Production Facilities.” Such programs would help to “bring forward and cleanse an industry currently infiltrated by gangs, criminals and frauds.”
So far, job postings and program details have been placed on Craigslist, an invitation to join the cause is on Facebook and letters have been dispatched to Gov. Arnold Schwarzenegger, San Francisco D.A. Kamala Harris and Petaluma Police Chief Steve Hood, among others.
Subscribe to:
Posts (Atom)
