SOURCE: Medical Marijuana Inc

Medical Marijuana Inc

July 12, 2011 08:30 ET

Medical Marijuana Inc on Track to Go Fully Reporting

SAN DIEGO, CA--(Marketwire - Jul 12, 2011) - Medical Marijuana Inc (PINKSHEETS: MJNA) is pleased to announce that as of July 12, the company has made substantial progress towards achieving fully-reporting status. The OTC Pinksheets have reclassified the standing of the company by withdrawing the yield sign, which was formally on its webpages featuring MJNA's OTC stock listing. (

Medical Marijuana Inc has secured the services of Securities Attorney Frank J. Hariton in matters involving compliance with regulatory standards and reporting practices. Hariton's opinion letter with respect to current Information was released online to the public on July 6 and can be accessed in the financial section of the MJNA OTC listing.

MJNA intends to release financial data for the second quarter ending June 30, 2011 on or before August 1, 2011. Additionally, MJNA plans to release quarterly financial data no later than fifteen business days following the conclusion of the preceding quarter. To correlate with the quarterly and annual financials MJNA is in the process of selecting an auditing firm to aid the company in streamlining internal controls, policies, procedures, governance and to address specific reporting requirements as well as commencing MJNA's first financial audit. Firms currently under consideration include Deloitte, KPMG US, and PriceWaterhouse Coopers.

Medical Marijuana Inc is also pleased to report the completion and first round of updates to its corporate and Hemp Network websites. These changes focus on improvement in shareholder interaction as well as increased transparency in areas such as governance and internal financials. The next round of updates unfolding over the course of the third quarter of 2011 will bring MJNA closer to its goal of greater accessibility to its online materials. Such site improvements include links to the new corporate Facebook and Twitter pages as well as the completion of the company's LinkedIn profile.

Beginning August 2011, MJNA will hold conference calls with shareholders scheduled for the second Tuesday of each month. To aid in this process MJNA currently has several investor relations firms as candidates under consideration in providing the company with tools to improve, maintain, and sustain the quality of shareholder relations. More details are forthcoming.


Our mission is to be the world's premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present, and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.


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.