Oct 20 2009
Medical Marijuana, Inc. (PINKSHEETS: MJNA) is the ONLY company that provides the specific solutions the government is seeking in order for all collectives and co-ops to be in total compliance with state laws and city/county ordinances. Their revolutionary patent pending Tax Remittance Card and patent pending Inventory Management System and Supply Chain Network provides all of the tools necessary for regulatory authorities and industry operators alike to manage compliance efficiently and effectively.
The Obama administration will not seek to arrest medical marijuana users and suppliers as long as they conform to state laws, under new policy guidelines sent to federal prosecutors yesterday.
Fourteen states allow some use of marijuana for medical purposes: Alaska, California, Colorado, Hawaii, Maine, Maryland, Michigan, Montana, Nevada, New Mexico, Oregon, Rhode Island, Vermont and Washington.
MEDICAL MARIJUANA, INC.'S TURNKEY COLLECTIVE SOLUTION
Medical Marijuana, Inc.'s Turnkey Collective Solution ensures that collectives operate within the guidelines of all laws and regulations regarding the tracking of the marijuana from grow cycle to final distribution. By employing Medical Marijuana, Inc.'s closed loop tracking system, it can be shown to authorities and collectives alike that the source of their supply was an active member of the collective. Medical Marijuana, Inc.'s Regulatory Module provides officials with a comprehensive reporting tool that allows them to remotely audit the industry in real time to ensure regulations are being properly followed. This audit function can be performed online and remotely from the regulators desktop anywhere in the world, making the process more efficient and cost effective for governments to monitor and regulate the industry. Medical Marijuana, Inc. believes that tools to regulate the industry and collect tax revenue are necessary to gain nationwide acceptance and legalization of medical marijuana. Further, Medical Marijuana's Tax Remittance Platform could not only cost-effectively implement the necessary infrastructure to collect on every sale made within city limits by licensed collectives and collect those taxes on a daily basis, but eliminate the cash problem by using a tax remittance, credit, debit, or proprietary card. The POS system automatically recognizes the collective's tax ID number, state and local tax rates and then provides Automated Clearing House settlement of the taxes and routes the amount to the City's appointed financial institution. Taxes can be collected on a daily basis, providing an economic windfall for the city of Los Angeles and any other municipality recognizing the advantages of this model.
Tax Collection
The Stored Value Platform System will provide verifiable solutions to manage the difficult task of revenue and taxation collection. 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 system also eliminates the legal and practical risks of carrying cash.
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.