SOURCE: Medical Marijuana, Inc

June 23, 2009 04:20 ET

Medical Marijuana, Inc Signs Two More Collectives: First in San Diego County, CA and First in Berkeley, CA

MARINA DEL REY, CA--(Marketwire - June 23, 2009) - Medical Marijuana, Inc (PINKSHEETS: MJNA) continues to sign collectives for a total of eight that have agreed to use Medical Marijuana, Inc's tax remittance card. Members Only Collective in San Diego County is the first collective in that county to sign up for the tax remittance card, and Fresh Starts Inc. in Berkeley is MMI's first collective in Alameda County, California. Both collectives will implement Medical Marijuana, Inc's tax remittance card in August 2009.

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. For the dispensary owner, he must be there all the time or his employees could be selling their own marijuana to the customers, and keeping the cash. With our Stored Value Card, Dispensary owners are more comfortable knowing all transactions are made with a stored value card. This reduces the losses associated many times with cash transaction businesses. For the investor looking to open more than one dispensary, this card allows him the ease of mind knowing all transactions are accounted for in all of his locations.


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.

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.

Contact Information