Wednesday, May 20, 2009

MM debit cards?

Medical Marijuana, Inc. has signed a Memorandum of Understanding with an (unknown) New Jersey medical marijuana cooperative to provide their "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."

It also shows that the MM movement has gotten so strong that financial entrepreneurs see opportunities to make a lot of money. Very American.

If anybody is interested, Medical Marijuana, Inc. is conducting phone conferences this week to discuss their business. See the link above for more information.

By the way - The New Jersey legislation does not use the term "medical marijuana cooperatives". The Senate version of the bill (S119) allows "alternative treatment centers" which operative somewhat like non-profit cooperatives, but with very strict rules on how much they can grow per patient.

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