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Medical Marijuana Inc (MJNA/MJNA.PK) Wrap Up:

Medical Marijuana, Inc. provides various business solutions for the medical marijuana industry in the United States. The company offers integrated tax oversight and collection solutions to local, state, and federal governments; and business management solutions. Its tax collection and payment solutions include stored value debit card to the medical marijuana dispensary. The company was formerly known as Club Vivanet, Inc. and changed its name to Medical Marijuana, Inc. in March 2009. Medical Marijuana is based in Marina Del Rey, California.
www.medicalmarijuanainc.com
3 Employees

Medical Marijuana, Inc. (MJNA:OTC)

Market Cap
28.1M
Total Revenue
823.0K
EBITDA
--
DILUTED EPS TTM
0.00
P/E
45.3x
P/S
3.0x
Return On Asset
--
Return On Equity
--
K = Thousands  M = Millions  B = Billions

MJNA Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

Key developments for Medical Marijuana, Inc. (MJNA)

Medical Marijuana Inc. Signs Agreements with Additional Collectives in Northern California to Implement Stored Value Platform System

Medical Marijuana Inc. announced that MOU agreements are now in place with an additional four medical marijuana collectives from different counties in the Northern California region. All four collectives have signed on to implement MJNA's Stored Value Platform System in their respective businesses. The Stored Value Platform System, a Point-of-Sale system, is a hallmark element of Medical Marijuana's business solutions package. This stored value-based system, once in place, helps businesses that are dispensing medical marijuana more efficiently and securely manage the tasks of revenue and taxation collection. The ease of access to certifiably secure transactions lessens the risk of loss at each level. Both provider and patient benefit greatly from this revolutionary program designed by MJNA. The addition of collectives within the top half of the Golden State is also important to Medical Marijuana Inc. as part of its effort to persuade at least one major Bay Area municipality to join in discussions with the company regarding its automated tax collection solutions. The Stored Value Platform System will provide verifiable solutions to manage the difficult task of revenue and taxation collection. The 'Point of Sale' system will recognize the dispensary's tax ID number, state and local tax rates and then provide 'Automated Clearing House' 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.

Medical Marijuana Inc. Expands Internationally to Canada and Continues to Add More Collectives in California

Medical Marijuana Inc. expands internationally by signing Growers with Gardens in Victoria, British Columbia, Canada. MMI has also added five additional collectives in the United States as follows: Soultree Art of Healing Co-Op in Daly City, California; Netexdive Products in Valley Center, California; Chron Don's Clinic in Garden Grove, California; Association for Alternative Therapy in Westminster, California; and Better Health Group in San Rafael, California.

Medical Marijuana Inc. Captures Market Share in 3 More Counties in California

Medical Marijuana Inc. continued its expansion with four additional collectives agreeing to use Medical Marijuana Inc.'s tax remittance card. The Healing Centers 1 & 2 in Orange County, California, 2 Green Thumbs in Tuolomne County, California and Mother Nurture Collective in San Diego County, California plan to implement the tax remittance card in September 2009.

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MJNA Competitors

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Industry Analysis

Valuation MJNA Industry Range
Price/Earnings 45.3x
Price/Sales 3.0x
Price/Book 17.8x
Price/Cash Flow 926.3x
TEV/Sales 34.1x

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More Recent News About Medical Marijuana Inc

More news for MJNA

Medical Marijuana Inc Completes First Income Producing Educational Seminars

MARINA DEL REY, CA--(Marketwire - 11/12/09) - Medical Marijuana Inc (Pinksheets:MJNA - News) completed its initial two day weekend Educational Seminar held Saturday and Sunday November 7 and 8 in Ukiah, CA. Attendees arrived from Oregon, Arizona, and California, including San Francisco and Mendocino County, which is ground zero in the Medical Marijuana debate.Noted speakers included attorney and hemp expert Don Wirtshafter, Editor of Mendocino Country Journal, Richard Johnson, Airoponics cultivation expert Wayne Zallen, trademark and patent consultant John Blue, MJNA - CEO Bruce Perlowin, and other speakers in various categories in the medical marijuana industry.The Educational Seminar was well received and recorded on video for future webinar ventures. "This signals the beginning of a new revenue stream as MJNA continues the weekend seminar series in Ukiah -- the county seat of Mendocino County -- until the end of the year -- with an even broader forum on the Medical Marijuana industry, which goes above and beyond the traditional curriculum offered in this arena," said Bruce Perlowin, the CEO of Medical Marijuana, Inc.Medical Marijuana Inc.'s educational seminar series continues this weekend at The Discovery Inn located at 1340 State St in Ukiah, CA, beginning at 10 am on Saturday and Sunday, November 14 and 15 and will continue every weekend until year's end excluding the Thanksgiving and Christmas holiday weeks. Included in this schedule is free Informational Seminars every Tuesday and Thursday night at 7 p...
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Medical Marijuana Inc Begins Licensing of Its Patent Pending Tax Remittance Technology

MARINA DEL REY, CA--(Marketwire - 10/22/09) - Medical Marijuana Inc (Pinksheets:MJNA - News) has entered into discussions with a publicly traded coffee distribution company for licensing of its patent pending tax remittance solution. Medical Marijuana Inc's tax remittance technology was originally designed to be industry and product neutral; it can be implemented in any industry. Execution of this agreement will launch phase one of Medical Marijuana Inc's multi-industry implementation strategy. Once daily tax remittance becomes standard practice in the medical marijuana industry, government officials are likely to have a strong interest in implementing Medical Marijuana Inc's patent pending technology across all industries. The windfall to the government could be enormous, with sales taxes being delivered to government coffers on a daily basis versus the currently accepted practice of submitting taxes every ninety days or more.Tax CollectionThe Stored Value Platform System will provide verifiable solutions to manage the difficult task of revenue and taxation collection. The daily cumulative amount of taxes that are allocated to tax accounts for every business, every transaction with every swipe of the card can be allocated to government tax accounts on a daily basis using ACH transfer or other electronic transfer method that is acceptable to local, state and federal governments.Medical Marijuana Inc's Turnkey SolutionsMedical Marijuana Inc's Turnkey Solutions ensure that collectives operate within the g...
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Medical Marijuana, Inc. Launches Seminar and Training Program

MARINA DEL REY, CA--(Marketwire - 10/21/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) is currently offering Informational Seminars in Mendocino County, CA. These one hour seminars will culminate in an initial series of two day paid seminars beginning November 6 &7, 2009 at the Discovery Inn in Ukiah, California hosted by MMI CEO and King of Pot, Bruce Perlowin, who was featured in CNBC's most watched television documentary "Marijuana Inc." Among significant topics to be covered are clarification of State, City and County laws and ordinances governing Medical Marijuana collectives in regard to dispensaries and cultivation. This is tied into Medical Marijuana, Inc.'s transparent patent pending Tax Remittance and Closed Loop Inventory Tracking Systems to ensure total compliance. Also discussed are the cottage industries that will sprout from the core medical marijuana industry beyond cultivation and collectives; cannabis kitchens and bottling companies, testing facilities, distribution and logistics, delivery services, security and more.REVENUEThe seminar series signals a significant new revenue stream for MMI as schedules will expand to the other 13 states where Medical Marijuana use is legal. In addition to the fees earned initially at the 2 day seminar, MJNA will continue to earn income as these attendees go on to open collectives and use the MJNA tax collection and tracking systems.An additional revenue stream that MMI will offer is turnkey solutions to those interested in going on to the next step...
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Medical Marijuana, Inc. Completes Custom Programming and Prepares for California Rollout of Its Tax Compliance System

MARINA DEL REY, CA--(Marketwire - 10/08/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) continues to execute its business plan with the next step of their Tax Compliance System now in place. MJNA now has over 30 collectives in 3 states and Canada signed on to use this tax system. These collectives are showing their intent to comply with proper business systems regarding tax remittance to the proper agencies. This puts these collectives in compliance with one of the most crucial aspects of Medical Marijuana and its proper distribution. Charles Larsen, President of MJNA, says, "With our fully scalable, robust processing platform, we are able to meet the most stringent requirements of any Government agencies requesting our system for their municipalities." 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 CollectionThe 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...
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Medical Marijuana, Inc. Has Signed Five More Collectives for a Total of 28 in Five States and Two Countries

MARINA DEL REY, CA--(Marketwire - 09/01/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) expands further by signing VM Enterprises in Woodbridge, NJ; Medical Cannabis Management in Cardiff, CA; Sacred Herb Cooperative in Newport, MI; Morning Star Collective in Detroit, MI and the first in the State of Washington, Botanical Urban Dispensary in Everett, WA. These collectives will be using the tax remittance system as developed by MJNA. These collectives are showing their intent to comply with proper business systems regarding tax remittance to the proper agencies. This puts these collectives with compliance in one of the most crucial aspects of Medical Marijuana and its proper distribution. 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 CollectionThe 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...
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Medical Marijuana Inc. May Assist Collectives to Keep Within the Guidelines of California Proposition 215

MARINA DEL REY, CA--(Marketwire - 08/25/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) offers tracking and management solutions that keep collectives within the boundaries of CA Proposition 215 and SB 420 in regard to supply side and distribution. According to The Metropolitan News-Enterprise, on August 18, 2009, California's Fourth District Court of Appeals reinstated felony charges against Stacy Hochanadel, John Campbell and John Bednar, the operators of CannaHelp, a medical marijuana dispensary located in Riverside County, CA.The decision that a Superior Court judge erred in ruling that CannaHelp was a "primary caregiver" under Proposition 215 gave prosecutors a new opportunity to convict the defendants.Judge Gilbert Nares explained that it is not sufficient for a person or entity to be designated a primary caregiver by an authorized medical marijuana user. There must be an independent relationship between the parties aside from and preceding the supplying of medical marijuana. "There is no evidence that CannaHelp or the defendants had such a relationship with the customers who purchased marijuana from them," Nares wrote. "A storefront dispensary that merely provides walk-in customers with medical marijuana does not provide the type of 'consistent' relationship necessary to achieve primary caregiver status."A collective, Nares explained, cannot operate for profit and cannot sell marijuana obtained from other than its own membership. And, he continued, the fact that CannaHelp operated on a cash-only ...
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Medical Marijuana, Inc. Recognized by Forbes as a Solutions Provider for the Medical Marijuana Industry

MARINA DEL REY, CA--(Marketwire - 08/17/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) announced today Forbes' recognition that Medical Marijuana, Inc. offers solutions for the emerging medical marijuana industry. (See: http://www.forbes.com/2009/08/13/george-soros-marijuana-legalization-opinions-contributors-rachel-ehrenfeld.html) The article entitled "ObamaCare's Medical Marijuana" by Rachel Ehrenfeld, 08.13.09, 04:00 PM EDT also recognizes thatGeorge Soros has been pushing for legalization of marijuana for the past 16 years.MJNA intends to be one of the organizations to submit a proposal to The National Institute on Drug Abuse (NIDA) which Forbes says is venturing into the distribution and production of marijuana cigarettes. According to the Aug. 5 solicitation for proposals, the selected organizations will be controlled by the Drug Enforcement Administration (DEA), and will have to comply with FDA regulations.The articles also points out that "the government is soliciting organizations that can grow marijuana on a 'large scale,' with the capability to 'prepare marijuana cigarettes and related products ... distribute marijuana, marijuana cigarettes and cannabinoids, and other related products' not only for resea...
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Medical Marijuana, Inc. Begins Procedures to Be Quoted on OTC Bulletin Board

MARINA DEL REY, CA--(Marketwire - 08/13/09) - Medical Marijuana, Inc. (Pinksheets:MJNA - News) announced today that it is undertaking the necessary measures to position its stock for quotation on the regulated, OTC Bulletin Board (OTC BB). This includes having retained a PCAOB-registered CPA firm to begin preparing, according to GAAP, to have the company's financial statements audited. This move is being done as part of Medical Marijuana's effort to become a fully transparent corporation, one that will be attractive to a wider audience and more sophisticated investment interest. OTC BB quotation status for MJNA will also enable market makers to make their own markets in our stock -- greatly enhancing MJNA shareholder liquidity.The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information for over-the-counter (OTC) securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange.Although the OTCBB does not have any listing requirements per se, to be eligible for quotation on the OTCBB, issuers must remain current in their filings with the SEC. Market Makers are not permitted to begin quotation on the OTCBB of any security whose issuer has not met this filing requirement.Medical Marijuana, Inc. will be providing further updates to its shareholders as various milestones related to the process are met.ABOUT MEDICAL MARIJUANA, INC.Medical Marijuana, Inc. is the first pu...
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