Medical Marijuana Inc. now trading on NASDAQ

SOURCE: Medical Marijuana, Inc.
Mar 31, 2009 15:59 ET
Medical Marijuana, Inc., Formerly Club Vivanet (PINKSHEETS: CVIV), Today Announced That It Is the First Public Company to Enter the Legalized, Medical Marijuana Business and Has Changed Its Name to Medical Marijuana, Inc.
MARINA DEL REY, CA--(Marketwire - March 31, 2009) - Medical Marijuana, Inc. (PINKSHEETS: CVIV)
Name Change and Pending Forward Split
Club Vivanet, Inc. changed its name to Medical Marijuana, Inc. with the State of Oregon on March 24, 2009, and has resolved to forward split its shares 10 for 1 effective upon NASDAQ changing the company's symbol from CVIV to reflect the name change and forward split. CUSIP has already changed the CUSIP number to 38463A105 to reflect the name change and forward split and the company is anticipating receiving the new symbol effecting the name change and forward split within the month of April.
Pending Spin Offs
In conjunction with the name change, the company is spinning off two subsidiaries on a share for share basis (pre 10 for 1 forward split) of the shares of Club Vivanet, Inc. (a Florida corporation) and MyNewPedia Corp (a Colorado Corporation). While the company has set April 3, 2009 as the record and effective dates, NASDAQ is responsible for establishing an ex-dividend date and up to that date; shareholders and those that buy and hold till the ex-dividend date will be entitled to the forward split and to receive the spin off shares. The spin off shares will be restricted until the subsidiaries register those shares with the SEC or there is an exemption from registration made available.
Change in Management
Furthermore, as a part of these corporate actions, Bruce Perlowin has accepted to serve as the company's new Chairman and CEO, replacing Don Steinberg. Don Steinberg's resignation will become effective on the 2nd of April but he will continue to run and operate Club Vivanet, Inc. (a Florida Corporation). Charles Larsen has accepted to serve as President of the company and Jim Hancock is simultaneously resigning on April 2nd, 2009, yet Jim will also continue to serve as an officer of Club Vivanet, Inc. (a Florida corporation).
Incoming Chairman and CEO
Bruce Perlowin -- Chairman & CEO
Recently interviewed on CNBC's "Marijuana, Inc.," the most watched CNBC TV program in its history, Bruce Perlowin has been noted as the "King of Pot" in various articles for the past 15 years.
On March 23, 2009, Bruce Perlowin launched the first public corporation (PINKSHEETS: CVIV) solely based on the Medical Marijuana Industry. Through the public company (which was granted on March 24, 2009 by the Secretary of State of Oregon, the official name, Medical Marijuana, Inc.) he intends to legitimize this industry, as a part of his decades of advocating the benefits of legalization of medical marijuana. He also intends to provide solutions to governments and communities that will ensure efficient regulation, and to ensure and profit from better monitoring and taxation of the Medical Marijuana Industry.
In the early 90s, Bruce Perlowin co-founded Globalcom 2000. This company was primarily in the prepaid phone card business, which at that time was a virtually unknown market, with only a few producers. That company became the fastest growing, and one of the largest, phone card companies in the U.S. Among the many 1st accomplished in that business, was the 7-11 account, which was captured as the 1st phone card in the U.S. with a corporate logo.
Throughout the past 4 decades, Bruce participated in the network marketing industry and currently holds three world records in that industry. One, for the second largest commission check in the industry, when he earned $176,000 in a company called MyiBiz in 2001. Earlier in 1994, working with One World Communications, he opened 187 training centers around the world, in only 9 months (before the internet or emails were in popular use); a record that is still in effect today.
Incoming President
Charles Larsen -- President
After serving 8 years in the United States Coast Guard, Mr. Larsen began his career in the investment industry in 1989 with Peskin & Associates, a commodity trading advisor in Chicago managing client billing, regulatory monitoring and reporting, internal trading operations and floor broker communications. In 1991 he joined IDS, a software development firm in Los Angeles as a development and implementation consultant to the largest institutional investment advisors on Wall Street. In 1995, Mr. Larsen joined Tower Asset Management, a boutique investment advisory firm in Beverly Hills, assuming management responsibility of trading, technology and operations, also contributing substantially to a successful restructuring effort and helping grow the firm from $90 million to over $600 million. Mr. Larsen left Tower in 2006 as Senior V.P. of Operations & Business Development to join Financial Management Advisors, a $1.6 billion investment advisory firm in Century City as CFO, COO & CCO. Mr. Larsen attended Pepperdine University and served two tours in the United States Coast Guard.
About the Company
Medical Marijuana, Inc. is positioning itself to profit from the emerging opportunities as they appear in the quickly changing legal medical marijuana industry.
Look for our announcements soon regarding our leading edge services to government agencies and others in the industry in the 13 currently legalized U.S. states. We are in direct contact with the most significant and effective organizations for medical cannabis.
Our mission is to create a rewarding financial opportunity for our shareholders, partners and employees.

Here's a few links to more information:

Medical Marijuana, Inc. (MJNA) Stock Message Board

Medical Marijuana, Inc.

Sounds like these guys want to control the medical marijuana industry. I, for one, wouldn't put a fricking dime into their corporation. They sound too much like Wall Street Profiteers. :jointsmile::thumbsup:

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Originally Posted by gypski

Sounds like these guys want to control the medical marijuana industry. I, for one, wouldn't put a fricking dime into their corporation. They sound too much like Wall Street Profiteers. :jointsmile::thumbsup:

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I totally agree with that, It seems as if Bruce is in it for the profit big time.

Medical Marijuana, Inc. Signs 1st Medical Marijuana Collective to Use the Tax Remittance Card

MARINA DEL REY, CA--(MARKET WIRE)--May 15, 2009 -- Medical Marijuana, Inc. (Other OTC:MJNA.PK - News) is happy to announce that it has signed the first Memorandum of Understanding with a marijuana collective in Southern California to use Medical Marijuana, Inc.'s patent pending, stored value, tax remittance card. Bruce Perlowin, CEO of MJNA, says, "This is just the beginning of a massive marketing program to educate the dispensary owners to the benefits of this program. There are close to 1000 dispensaries in California today that our Master Agents have begun contacting regarding utilizing our card. With 14 states now going through a process to permit medical marijuana in their state, MJNA is set to capture a good piece of this market as states continue to permit medical marijuana. With revenue in the 4% area, and with the average dispensary doing 1 million dollars a year in sales, we project substantial earnings."

Symbol Price Change
MJNA.PK 0.55 +0.05

This follows our business plan which includes the Stored Value Card for tax remittance, a merchandising division to promote many of the cannabis related products, clothing lines, distribution, and the testing platform which we hope will standardize the industry with quality control.

Tax Remittance

This Stored Value Platform System will provide verifiable solutions for an inter-agency approach to manage the difficult task of Revenue and Taxation Collection for the Emerging Medical Marijuana Industry.

Using this new invention, the "Point of Sale" System will recognize the dispensary's tax ID number and tax rates for the state and local taxes as well as provide "Automated Clearing House" (ACH) settlement of the taxes to the proper financial institutions.

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.

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

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

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.

MJNA conducts daily conference calls to its Master Agents that are engaged in offering the provisional patent, tax remittance, stored value card to dispensaries and co-ops in California and other states where medical marijuana is, or soon may be, legal. The conference calls explain the tax remittance card in regards to how it works as a solution for the taxing of medical marijuana and the numerous other features inherent in this technology.

For anyone interested in listening in, and asking questions on how the tax remittance card works, you can do so any day this week at 4:20 PM California time, calling the conference line via: 218-339-3600 PIN: 321677#.

About Western Caregivers Group Co-operative

Western Caregivers Group Collective (WCGC) was reopened by a group of patients that believe in the efficacy of Medical Cannabis and the need for small storefront locations for people in need to come and not only get Safe Access to the medicine but also enter into a social environment that can help make a sick persons quality of life improve (and operates as a not for profit cannabis collective).

"We believe that there is something almost magical about the right environment and cannabis that makes for the best outcome for all patients involved. We support the MMJ Movement Actively on a regular basis. We have been active in helping to form regulation in Los Angeles and have participated in almost every rally and protest since 2004 and will continue to do so until we see effective change in local, state and federal law regarding MMJ." Lenny Fisher, WCGC Director.

About the Company

Medical Marijuana, Inc. is the first publicly traded company in US history to enter the medical marijuana industry and is positioned to take advantage of opportunities as they appear in the emerging and legal medical marijuana arena.

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:

For further details, contact:
Bruce Perlowin
Email: Email Contact
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Medical Marijuana Inc Secures MOUs With Cannabis Collectives in New Jersey, Colorado, and California

On Tuesday May 19, 2009, 4:20 am EDT


MARINA DEL REY, CA--(MARKET WIRE)--May 19, 2009 -- Medical Marijuana, Inc. (Other OTC:MJNA.PK - News) announces that three more collectives in the states of New Jersey (pending Governor signature), Colorado, and California have signed Memorandums of Understanding over the weekend to use Medical Marijuana, Inc's patent pending, stored value, tax remittance card. Bruce Perlowin, CEO of MJNA says, "Things are going really well. We started the Master Agent program a few weeks ago for our agents to show dispensaries the advantages with using our Stored Value Card. These latest dispensaries that have signed up continue to show the acceptance of our tax remittance program. This shows the power of our Master Agent program as it sweeps the country."

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. States are increasingly passing legislation favorable to the development of a medical marijuana industry; and this progressive policy comes at the request of thousands of constituents with conditions that could be mitigated by the use of marijuana or its related products and reflects the growing body of valid scientific evidence supporting the use of marijuana as a safe and effective medication. Medical Marijuana Inc is the first company in the United States to enter this industry with the intent to consolidate and develop products and services to satisfy emerging markets. In 2009, 13 states have already legalized the medical use of marijuana by qualified patients. In addition AL, CT, DE, IL, IA, MN, NH, NJ, NY, NC, PA, and TN all have medical marijuana legislation currently under review in their state legislatures. It is the intent of Medical Marijuana Inc to remain a dynamic company and take advantage of new opportunities as they emerge.


For further details contact:
Bruce Perlowin
Email: Email Contact
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Medical Marijuana (MedMarijuanaInc) on Twitter

their nasdaq code should be BUDS so the reporters can say Oh buds are up 15% today john