http://globalinvestmentwatch.com/2009/04/07/smoke/

Did You Hear that there is Money to be made in Marijuana? Dude, it’s Legit!

by Erika Yost on April 7, 2009

marijuana arches1 210x300 [see attached]


Did You Hear that there is Money to be made in Marijuana? Dude, its Legit!

Recently a company called Medical Marijuana, Inc.
announced that it is the first public company to enter the legalized, medical
marijuana business. While it does not trade on a major exchange, the stock does
trade over-the-counter under the ticker CVIV. Bruce Perlowin is serving as the
company’s new Chairman and CEO.  He has been referred to as the “King of Pot” in
various articles and was recently interviewed on CNBC’s most popular feature called
“Marijuana, Inc.”

Is this a good sign that the archaic and costly criminalization of marijuana is slowly
going by the wayside? Let’s hope so!

The following is taken from the press release issued by Medical Marijuana, Inc. on
April 3:

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.

About the Company

Medical Marijuana, Inc. (currently undergoing a 1=10 forward split and symbol
change to reflect its new name in the stock market) is positioned to take advantage
of opportunities as they appear in the emerging legal medical marijuana industry
through an enhanced payment gateway introducing verifiable levels of enhanced
security. A trend is in place that clearly indicates medical marijuana is quickly
becoming a legal enterprise in need of various solutions in numerous areas.

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

Having a secure platform for the full service engagement of all financial services
directly accessed through on integrated system, allows for a much more secure and
confident transaction between customer, vendor and supplier.

The ease of access to certifiably secure transactions lessens the risk of loss at each
level of the transaction. Users are empowered, 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.

Operators have the benefit of establishing deeper and more meaningful relationships
with their customer base. As such, the operators’ ability to enhance their revenue
generating capabilities is much greater with the full access to the suite of financial
services provided by our vast networked platform. This enables full creative
expansion within any sector to a retail operator of which these facilities may choose to
engage.



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