Medical Marijuana, Inc.
Medical Marijuana, Inc. (OTC: MJNA), an Oregon Corporation, was founded in March 2009 for the purpose of providing advanced business solutions to the rapidly expanding Medical Marijuana industry. [1] The corporation, formerly known as Club Vivanet Inc (PINKSHEETS: CVIV) decided on March 23, 2009 to forward split it's shares 10 to 1 and announce it will become the first public company to enter the Legalized, medical marijuana business.[2] Medical Marijuana, Inc develops a suite of solutions to deliver an efficient and secure infrastructure for the Medical Marijuana Industry that will provide the tools to industry operators to effectively manage their businesses with the confidence that they are in full compliance.
CEO/Founder
The current CEO and founder of Medical Marijuana Inc is Bruce Perlowin. In 2009, CNBC aired a feature called "Marijuana Inc" that featured information on the medical marijuana business and also featured a segment on Bruce Perlowin.[3]
Collectives/Co-ops
Shortly after going public, Medical Marijuana, Inc. hired agents to market their solutions to Collective/Co-ops in California. In the state of California, medical marijuana dispensaries are legally known as Collective/Co-ops.
Turn-Key Management Solutions
Medical Marijuana, Inc. offers turn-key management solutions to new investors and operators in the Medical Marijuana Industry. The company provides everything that is needed to get up and running and in full compliance from the start, from site location and negotiation, permits and licensing, dispensary design, contracts with suppliers and distributors, security systems and personnel, website design and management, compliance management, accounting services, inventory control, human resources, recruiting, training, marketing, community programs and more.
California Medical Marijuana Taxing
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.
Stored Value Card
Medical Marijuana, Inc. began signing collectives and Co-Ops to help them develop a Stored Value system. These Plastic debit cards or medical revenue cards are supplied to the Collective/Co-op. 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.
President Barack Obama's Federal Announcement
On October 19th, 2009 President Barack Obama released new guidelines regarding the way the federal government handles medical marijuana raids. The memorandum[4], signed by Attorney General Eric Holder, gave clear guidelines to federal attorneys on how they handle legal medical marijuana growers in states that legally allow the growth and sale of medical marijuana.[5]
Dispensary owners reported a significant increase since President Obama took office. The number of ailing people turning to medical marijuana to ease their symptoms has spiked in 2009, say dispensary owners in some of the 13 states where it’s legal.
Requests have jumped anywhere from 50 to 300 percent, they say, since President Barack Obama took office and signaled this message.
In the past few months, marijuana co-ops, clubs, businesses and even lawyers who have advocated for looser marijuana regulations say they’ve been inundated with requests for information and certifications that permit people to use marijuana for medical purposes.
Testing and Gradation
Medical Marijuana Inc. is currently in discussions to acquire an institutional level testing and grading solutions company and its products.
The company intends to provide testing and grading products and services to the Medical Marijuana Industry, from personal test kits for safety to institutional level testing and grading to determine quality and potency, as well as to identify potential contaminants.
Medical Marijuana Inc. testing equipment and services will soon be available to individuals, growers, dispensary operators and government institutions for public safety.[6]
Medical Marijuana States
States legalizing the growth, sale, and/or use of medical marijuana[7]:
| State | Year Passed | How Passed | Possesion Limit |
|---|---|---|---|
| Alaska | 1996 | Ballot Measure 8 (58%) | 1 oz usable; 6 plants (3 mature, 3 immature) |
| California | 1998 | Proposition 215 (56%) | 8 oz usable; 18 plants (6 mature, 12 immature) |
| Colorado | 2000 | Ballot Amendment 20 (54%) | 2 oz usable; 6 plants (3 mature, 3 immature) |
| Hawaii | 2000 | Senate Bill 862 (32-18 House; 13-12 Senate) | 3 oz usable; 7 plants (3 mature, 4 immature) |
| Maine | 1999 | Ballot Question 2 (61%) | 1.25 oz usable; 6 plants (3 mature, 3 immature) |
| Michigan | 2008 | Proposal 1 (63%) | 2.5 oz usable; 12 plants |
| Montana | 2004 | Initiative 148 (62%) | 1 oz usable; 6 plants |
| Nevada | 2000 | Ballot Question 9 (65%) | 1 oz usable; 7 plants (3 mature, 4 immature) |
| New Mexico | 2007 | Senate Bill 523 (36-31 House; 32-3 Senate) | 6 oz usable; 16 plants (4 mature, 12 immature) |
| Oregon | 1998 | Ballot Measure 67 (55%) | 24 oz usable; 24 plants (6 mature, 18 immature) |
| Rhode Island | 2006 | Senate Bill 0710 (52-10 House; 33-1 Senate) | 2.5 oz usable; 12 plants |
| Vermont | 2004 | Senate Bill 76 (22-7) HB 645 (82-59) | 2 oz usable; 9 plants (2 mature, 7 immature) |
| Washington | 1998 | Initiative 692 (59%) | 24 oz usable; 15 plants |
References
- ^ http://www.medicalmarijuanainc.com
- ^ http://www.marketwire.com/press-release/Medical-Marijuana-Inc-968687.html
- ^ http://www.cnbc.com/id/28281668
- ^ http://blogs.usdoj.gov/blog/archives/192
- ^ http://www.norml.org
- ^ http://www.medicalmarijuanainc.com
- ^ http://medicalmarijuana.procon.org/viewresource.asp?resourceID=000881
Jkrenselewski (talk) 00:53, 10 November 2009 (UTC)