MARINA DEL REY, CA, Sep 01, 2009 (MARKETWIRE via COMTEX) -- Medical Marijuana, Inc. (PINKSHEETS: 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 as developed by MJNA. These collectives are showing their intent to comply with proper business systems regarding tax remittance to the proper agencies. This puts these collectives with compliance in one of the most crucial aspects of Medical Marijuana and its proper distribution.

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.

Tax Collection

The Stored Value Platform System will provide verifiable solutions to manage the difficult 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 customers of the dispensary are issued a plastic debit card or medical revenue card. The ease of 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. This presents a number of challenges. Dispensary owners risk employee theft and possible competition for sales with unsupervised employees. Our stored value card also eliminates the risks of carrying cash. For the investor looking to open more than one dispensary, this card allows him the ease of mind of knowing all transactions are accounted for in all of his locations.

Solutions

Medical Marijuana, Inc. is developing 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.


Source and for More Info:
info@medicalmarijuanainc.com
Medical Marijuana, Inc. - Official Website
Medical Marijuana, Inc. - Twitter
Medical Marijuana, Inc. - MySpace
Medical Marijuana, Inc. - Tax Remittance Card Flier

Safe Harbor:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Disclaimer:
Past performance is not indicative of future results. Trading securities involves extreme risk and professional guidance. Medical Marijuana, Inc. does not give specific trading advice nor claims that a thorough analysis of our stock Medical Marijuana, Inc. has been conducted. We are not Financial Analysts, Investment Brokers or Financial Advisers. You should discuss the asset allocation and risk tolerance level which is appropriate for your personal situation with a professional broker/financial planner/adviser. You should also not make any trades or decisions with regard to investments without consulting a professional broker/financial planner/adviser. Medical Marijuana, Inc. has purchased advertising from 420 Magazine in exchange for stock of Medical Marijuana, Inc., and employees and other affiliates of this publication might own Medical Marijuana, Inc. stock. The President and Founder of 420 Magazine is also the Chief Operating Officer of Medical Marijuana, Inc.

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What I freely have been given let me freely share

Oh God!

Please send me to California!

thx, flower puss

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I am an herb!!

uh... there is no provision in WA state law for this. I'm wondering how they plan to get around this problem and why they think it's worth the risk to venture into a state that will not be welcoming them with open arms?!?

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Medical Marijuana Inc. (MJNA) is truly a forward looking company.

Looking back, it began in 2003 as Berkshire Collection, Inc. (BKCL) of Ontario, Canada. According to a complaint filed 12 Jun 09 by the U.S. Securities Exchange Commission (SEC) against Blackout Media (BKMP) and its principal Sandy Winick of Toronto, Berkshire Collection was one of 59 subsidiaries spun off from Blackout Media Corporation, formerly known as First Canadian American Holding Corporation, (FCDH).

The SEC complaint alleges these 59 subsidiaries had no legitimate business purpose and were just "public company shells", and that Winick profited at least $3.2 million from selling shares in these "shells" from 2004 through 2007.

On 23 May 05 Berkshire Collection changed its jurisdiction to Oregon, at the same time issuing a 1 for 1,000 reverse split.

I have never before in my life seen a 1 for 1,000 reverse split. A reverse split is typically a last ditch effort to prevent a company from being delisted on an exchange. According to MSN Money, "reverse splits are like a message from management that the underlying business trends are so rotten, they won't be enough to get the stock price up to snuff." Small shareholders, those holding less than 1 share after the reverse split, are cashed out. They're lucky if they get a penny on the dollar.

On 31 Jan 2007 Berkshire Collection changed its name to My Newpedia Corp (MYNW). This incarnation lasted until June of 2008 when it issued 211,926,840 shares of common stock, realizing $100,000. Then My Newpedia changed it's name to Club Vivanet, exchanging 12 shares of MYNW for 1 share of CVIV. Then the merged entities, now named Club Vivanet (CVIV), "took back" 210,117,998 shares in a 1 for 20 reverse split and posted a stunning net profit of $26,040 for 2008.

The Statement of Operations found on page 16 of the Annual Report for Club Vivanet for 31 Dec 08 states that it spent $751,359 on sales and marketing in order to post a profit of $26,040 on revenue of $818,992. While this was more than double the net profit of $12,624 for the previous year, it doesn't seem particularly forthcoming to term the growth "meteoric" as Perlowin does repeatedly.

In April of 2009 Club Vivanet (CVIV) became Medical Marijuana Inc. (MJNA):

We thought at first we'd call our corporation Marijuana Inc. But when you say to someone ... you're in the Marijuana Business, you do get that weird, kinda strange look. But when you say 'We're in the Medical Marijuana Business' ...I don't care where I am, everyone's interested. Not only are they interested, sometimes they're passionately interested because they've heard the stories and they think people should have the freedom to choose the medicine that really does help them.

On 25 Mar 09, the day the name change was filed, the stock was worth 4 cents. The name change and 10 for 1 forward split occurred on 28 Apr 09. The day before the split and name change CVIV closed at 22 cents. The day after, MJNA closed at 62 cents. It has trended downward since.

Perlowin explains it like this, pointing out he got out of prison 19 years ago:

I was the largest marijuana smuggler in West Coast history. The media dubbed me the King of Pot. As the newspapers said, I had a fleet of boats larger than most country's navies, and that was probably true. Made $100 million bucks by the time I was thirty. And then I went to jail for nine years and got out and made some huge businesses in the phone card and international telecom business. We've always had meteorically growing businesses after I got out of prison. Well, before I got out of prison too...

Just look at what happened to our stock from day one and you can see we sort of know know what we're doing in this industry.

He explains that he is "monetizing" the public's desire to legalize marijuana and that buying stock in his company is casting a vote for the legalization of marijuana.

When Obama and the attorney general Holder said that they'd no longer interfere with state laws on marijuana issues, all of a sudden dispensaries and collectives and co-ops started popping up like weeds all over California ... and, all of a sudden, legitimate business people started getting involved and wanting to get involved. And then "we" come along...

This is one of those statements were you don't really know where to begin.

What is this "all of a sudden" legitimate business people are getting involved? Is he saying those dispensaries and co-operatives that have been doing it for years and who built the industry he finds so exciting are not "legitimate business people"? What does this say about The Green Cross - in business in San Francisco for five years and featured in June as an example of how medical marijuana had become mainstream? And, by the way, they've all been using plastic cards of all kinds for years: debit, credit, stored value, ID, and so forth. A manager of one dispensary told me 5 years ago, "Bank of America loves us."

Are we also supposed to believe that the "legitimate business people" who have been waiting for Obama to start the green rush before they got involved will not have the wherewithal to set up a business account with, oh, Bank of America or Wells Fargo, but instead will be "cash based"?

While Perlowin wasn't really sure if New Mexico had passed a medical marijuana law or not and was astonished at what he found when he came to California in February and told his doctor he had insomnia so he could get in a dispensary and see what it was like, he assures us he is the one to tell us all how to do it.

I actually believe New Mexico is one of the places - don't quote me on that because my big focus is on marijuana, on California - but I think New Mexico is one of the places where it's legal. You can look at any of the movement websites like NORML or MPP.org - that's a great one, MPP.org - and they really keep you up-to-date on what's going on in each state. So I think it is. And in some places you can have co-ops, like in Colorado and California, and some places you're allowed to grow your own. There's no standardized laws or rules, which for a public company like us makes it really lucrative, or potentially lucrative. Because we can help come in and standardize the industry and help regulate the industry. Again, from the bottom up. Typically a company like this can move much quicker than the government can.

It's all a mish-mash. Every county in California is different from every city. And every state has different rules. And if you standardize it - it will take a few years - but that's one of the things that we're here to do, is to help standardize it. And again, starting with the most lucrative of all, the tax remittance.

And he's going to begin by re-assembling his old organization, from administering taxes paid by the sick and dying for medicine. When asked if he has any plans to own a dispensary:

"If Nevada ever legalizes it - it'll be on the ballot in 2012, November - I would love to have a dispensary inside a casino, growing the marijuana plants..."

Obviously, Medical Marijuana Inc. CEO and King of Pot Bruce Perlowin didn't have "medical marijuana" in mind when he said this. When the host points out this has the appearance of exploitation he replies:

Yeah. So in that case, yeah. In the beginning. no. In the beginning all we want to do is provide all the tools for the dispensaries or the co-ops. In fact, we're going to be doing seminars on how to open up a dispensary and we want management contracts with the dispensaries, not just for the tax card but for inventory control, for grading and standardizing the marijuana for software, for the doctors to use, and evaluating whether sativa or indica should be used for glaucoma vs. cancer vs. MS vs. headaches..."

In the meantime, he hopes to buy "homesteads" of 1 to 5 thousand acres all over the country and grow vegetables or something on them until hemp is legalized, and then convert them to hemp farms. All this from administering taxes paid by the sick and dying for medicine.

It's an intriguing business model. He states they've decided 60% of the profit will go to the company, and 40% to charity.

My job is to empower people, and specifically (because of another model) empower women. 40% of our profits goes to The Global Family and WE (Women Empowerment) because their job is to make sure this wealth goes all over the world to create a thousand millionaire women, who will create a thousand millionaire women each, and then they take over the world in what's known as a global coup, but it's really a coochie coo..

Again, it's difficult to figure out where to begin. Seems a bit sexist (not to mention boorish) to me, but what do I know? Besides there are more pressing issues. For instance, just ten minutes previously he stated 40% of "revenues" would be going to the local community: 10% to schools and or the women's council (because women won't take bribes and kick-backs, but men will); 10% to another local problem like fire or police (speaking of bribes); 10% to another city in America; and 10% to some international problem.

Obviously, how much of what goes where isn't really important. All that's important is that 40% of the stockholders earnings from administering taxes paid on medicine by the sick and dying will go to some charity somewhere. No doubt medical marijuana patients will get a warm glow knowing their disability stipend is going to increase the supply of female millionaires in third world countries.

Among a nebulae of disconnects is that it never occurred to Medical Marijuana Inc. that there are medical marijuana patients that can't afford medicine, that are losing their jobs and their homes, that can't pay lawyers and court costs. And a lot of them are men.

Perlowin says he doesn't smoke marijuana, except rarely.

My prescription's for insomnia. And I don't know if I have insomnia, I'm so excited about what we're doing I can't sleep at night so I jump up and email. I go to sleep. I wake up. I email. And so I'm thinking, 'I really want to go see these dispensaries but you can't get in without a medical condition and I don't want to lie about a medical condition. I won't do that. I'm CEO of a public company, I've got to keep everything really straight. So, I'm thinking, 'wait a minute...' and if I don't have my computer I'm sitting there awake all night, just thinking. So that's clinical insomnia. That's insomnia. So I got my medical marijuana card for being too excited. But I haven't used my marijuana medicine yet because if I do I won't answer my emails all night.

As for the morality of taxing medicine? As for what happens when The Medical Marijuana Patient Protection Act (HR 2835) is passed? As for the fact that you don't get a "prescription" for medical marijuana, you get a "recommendation"?

HR 2835 will move marijuana from the Controlled Substances Act's Schedule I to Schedule II. Among other things this will mean marijuana will meet the legal definition of medicine and that doctors can prescribe it the same as pharmaceuticals. And this means it will not be taxed in states such as California where the people think there's something sleazy and just plain wrong about taxing medicine.

Well, maybe by then Perlowin will have his upscale pot emporium in some swanky Las Vegas casino.

Source: http://www.examiner.com/x-14883-Santa-Cruz-County-Drug-Policy-Examiner~y2009m9d2-Agonizing-over-Medical-Marijuana-Inc

All I can say about SSI is it's impossible to tell who's doing what to who and how come.

They have a troubled recent history, to say the least.

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-Michael

So they have developed some custom POS software, and a bundle of services that are very 'franchise like.'

At first glance, the article in the OP describes nothing that a person can't do with:

• A programmable cash register.
• A good CPA.
• Having the owner actually manage the store.

I'm just not impressed. And the fact they signed up a WA dispensary, when WA law does not allow dispensaries, doesn't speak well for Medical Marijuana Inc. imho.

They seem to be a solution looking for a problem... and a company that wants to just make money off other companies by selling them services that they genuinely don't need (assuming that the dispensary owners have an ounce of knowledge and motivation).

Just my $.02

Oh, you have no idea, Jack. They booted their CEO not long ago... the guy is a semi-famous activist by the name of Steve Kubby. He, apparently, suffered some sort of confusion when it came to which accounts should be used to pay for what, if you know what I mean. There was a great deal of controversy and strife. Their stock tanked, too, of course, because it became obvious that the place was being looted.

The CSO (Chief Science Officer), Dr. Bob Melamede (who is one of the few living, breathing people I admire), then took over as both CEO and CFO. All this happened before the date on this post.

Here's what I find interesting: CSI is a pharmaceutical company. So, this little venture can only be explained a revenue-generating measure, probably a last ditch effort before the whole ship sinks.

Personally, I was very excited about this company when I first found out about it. That's why I happen to know something about the situation. Believe me when I tell you it's not pretty... and it really sucks that Dr. Bob's good name is gonna be permanently tarnished by what has happened. Maybe it's naivete or personal bias, but I can't imagine him being anything other than 100% genuine and committed to his work as a molecular biologist and cannabis researcher. I love that guy.

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-Michael