SOURCE: Medical Marijuana Inc

March 17, 2010 07:20 ET

Medical Marijuana Inc Forms Medical Products Division and Research Committee to Examine Medical and Health Benefits of Cannabis-Based Products

LOS ANGELES, CA--(Marketwire - March 17, 2010) -  Medical Marijuana Inc (PINKSHEETS: MJNA) is pleased to announce that Stuart W. Titus, PhD has been selected to head the Medical Marijuana Inc Search Committee to formulate a full-scale Medical Products Division. This Division's focus is to research and develop the medicinal, health and wellness benefits of a variety of cannabis-based products. 

Medical Marijuana Inc plans to explore the development of proprietary products into the pharmacological marketplace. The company plans to institute medically based research to eventually formulate medical products that will withstand the FDA approval process. Though this is a futuristic goal and the medical approval process is a lengthy one, various stages of progress on medicinal properties will be made public over time.

Other products that are perhaps less "medical" in nature will also be considered by the Division for public marketing. Progress reports will also be regularly made on the development of products that may foster health and wellness benefits. All products require certain studies be formally conducted in order to make claims of any benefit so derived and the Company's Medical Products Division will be so charged with evaluation and study.

"I am very pleased to be on the cutting edge of research into the numerous derivatives of a widely used product that is gathering acceptance by the public, certain State and even Federal Legislators. We feel there is significant opportunity to work with medical and pharmaceutical interests to bring forth products that may well establish a new paradigm in medicine. Our division will hopefully add one piece to the full scope of the business with Medical Marijuana Inc," said Dr. Titus at company headquarters this afternoon.

Educational Symposiums

Medical Marijuana Inc's Educational Symposiums are a multifaceted approach designed to educate anyone interested in entering this emerging multibillion dollar industry. MJNA also offers a complete menu of services including Turnkey Management Solutions and products and services that can be resold through city, regional and state partners who team up with us to hold these Educational Symposiums throughout the country.

Medical Marijuana Inc's Educational Symposiums provide education on topics that include the history of cannabis, cutting edge cultivation, current laws and ordinances, tax compliance, therapeutic uses, caregiver requirements, establishing dispensaries/collectives, and a vast array of business protocols. One can sign up for our upcoming Educational Symposiums via our web site: http://www.medicalmarijuanainc.com.

Dr. Stuart Titus is available at our next seminar at the San Diego Convention Center on March 27 to answer questions related to the Medical Marijuana Products Division. Tickets are available at: http://www.medicalmarijuanainc.com.

Solutions

Medical Marijuana Inc has developed 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.

Quality Control

The long range view of genetically enhancing Medical Marijuana is for MJNA as a national pharmaceutical producer to meet the growing needs of patients demanding Medical Cannabis for relief of specific illnesses. In this situation, collectives are able to specify those patients that have requested a certain strain that we produce. With the use of our Supply Chain Management System, we are able to remain within the strict guidelines as set out by various governments, yet at the same time, satisfy the needs of patients. 

Medical Marijuana Inc's Turnkey Collective Solution ensures that collectives operate within the guidelines of all laws and regulations. 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. Further, 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.

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 ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction.

About Medical Marijuana Inc

Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding medical marijuana industry. The scientific recognition of marijuana as a powerful medicine, and as an effective, non-narcotic pain reliever, has brought legalized marijuana use to the forefront of mainstream discussion thus opening the door for safe and lucrative investment opportunities.

Forward Looking Disclaimer 

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.