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I used to live in CO. Not sure I like all the changes I see there today though? Looking to get the hell out of NC today, as this State has gotten so bad, my small business is now in a 35% tax bracket and strangling us badly trying to keep in business and be "legal"... Something has go to give here in NC.
But regarding BIG Pharma, they really did a good one with the Opioids huh? According to Narcanon only like 10% of all Opioids actually going to real patients! This is sickening and shows the epidemic going on out there so many refuse to accept and deal with... In essence, BIG pharma has "legally" made majority of USA citizens drug addicts and it has been "legal"...
see last thoughts and some other opportunities.
I-MAN - That is great to hear word is getting out more an more each day - I don't get it why this is so hard to understand other than a major shifts in who controls the $$$ - Big Pharma, etc. Colorado is prime example of $$$ that can be made and then funneled back in to the "system"
Side note take a look at these two OTCs: PAOG and RSII - they're related and right in the middle of the opioid issue. Good stuff
I have a position in both and Ihub has boards...
I'm still in wait and see mode with this one.
Cheers - FX
"IF" they tie this into what Dr. Oz went on air about other day on Fox News, regarding using legal medical MJ as way "out of opioid epidemic" as a treatment/exit out of hard drug usage, rather than people thinking it is a "gateway drug", you could see REFG and others move triple digits no lie...
Could well be reason the new client in AZ is keeping quiet right now and testing may well have been going on in this direction if what Dr. Oz states is true...??
Dr. Oz on TV other day stating what nobody else has regarding opioid epidemic in USA today, and that it to use medical MJ as and "exit out of drug abuse" instead of how everyone out there is looking at it like a "gateway drug" to harsher drug use...
He is trying to address Govt and pharma industries about this and also put out a book or publication as well as He is the only medical expert top have researched and come to this conclusion so this may well have HUGE impact on REFG and others going forward...
REFG states their new client does not want to be named just yet because they don't want their locations flooded with people until the system is proven, which make sense. So I wonder which one it is: Reef Dispensaries - 6 locations between NV & AZ; BLUM - five locations, etc. these are two groups with more than 2 locations.
Here is a pot guide for dispensaries located in NV:
https://potguide.com/nevada/marijuana-dispensaries/
I wonder what the system licenses for? An up front fee and monthly fees, monthly only fees based on a flat rate or a fee based off a percentage of revenues - so the fee grows as the client grows, etc. Knowing this would help determine current and future revenue...
Cheers FX
From an insurance industry Magazine: Insurance Journal:
Colorado Tells Sessions That Pot Industry Is Working And Can Be Better -August 29, 2017
Colorado’s legal marijuana industry is working – and can work better with federal collaboration, the state’s governor and Republican attorney general told U.S. Attorney General Jeff Sessions in a letter.
Gov. John Hickenlooper and Attorney General Cynthia Coffman urged Sessions to collaborate with recreational pot states on law enforcement and on providing the industry access to the federal banking system.
The pot industry relies on cash because the federal government considers the drug illegal.
They told Sessions, who has floated the idea of a crackdown on marijuana legalization, that Colorado’s first-in-the-nation recreational industry is robust. The state has taken steps to crack down on black market sales, diversion to other states, and youth use, they said.
“Colorado’s system has become a model for other states and nations,” Hickenlooper and Coffman wrote. Voter-approved sales began in 2014.
Sessions recently sent letters to the governors of Colorado, Alaska, Oregon and Washington – the first four states to legalize recreational marijuana – detailing his concerns with how effective state regulatory efforts are. All have defended their efforts.
Hickenlooper and Coffman addressed several of Sessions’ concerns:
•Diversion: They noted that Colorado has sophisticated seed-to-sale tracking, has capped individual plant cultivation, banned pot growing cooperatives and provided $6 million this year for local police actions targeting the black market.
•Minors: They insisted that several surveys suggest marijuana consumption by youth has not increased since legalization _ and that one federal report, sponsored by the U.S. Department of Health and Human Services, suggests it has declined. Colorado has spent more than $22 million on education, they said.
•Motor vehicle fatalities: Hickenlooper and Coffman reported the number of drivers considered by the state’s highway patrol to be pot-impaired dropped by 21 percent over the first six months of 2017, compared to the same period last year.
“We stand ready to work with our federal partners to fortify what we have built,” they wrote.
Hey I-Man, I looked back at my records and saw I owned a five thousand share two years ago and go out, with a little profit, realizing things were not moving that fast then. Now I can get back in at low pp.
As we both know the business environment has changed since then.
See you at the finish line!!!
Cheers FX
I have held large position from loong ago for the future.. YES, these folks are ramping up for next phase of exposure and revenues, and as I have seen in fast on other certain type specialty stocks (EX: SPNC from late 90's), when this does, you need to be in it to win it... Otherwise it will move so damn fast into higher multiples, most will miss out if not acting like an Investor...
Your right it might be time to hop back in. Been following this one for awhile.
Cheers FX.
I'm loading. I really hope it flashes to the .01 mark for a few days. Saving some powder incase that happens. Great POTential here. Not to mention, several bidders have been laying down 10-20k orders over the last 2 or so weeks. Ppl are loading.
Good luck!
Wow they finally published their product. Great news for them and us. Maybe it is time to take a position.
Thanks for the Update - I guess that PR needs to be placed in the sticky notes - I don't know hhow to do that... Sorry
Cheers FX
FINCEN compliant. Revenue generation to begin with new customer contract ID to be forthcoming...
Here you go. System in place in Las Vegas.. Revenue generation begins.
>>>>>>>>>>>>>>>>>>>>>>>>>
Medical Cannabis Payment Solutions Announces First Payment Processing Customer
6:00 am ET August 24, 2017 (Globe Newswire)
Medical Cannabis Payment Solutions (OTC - REFG), a state-of-the-art merchant processing and financial services provider to state-sanctioned cannabis, today announced a contract with a vertically integrated marijuana establishment in Las Vegas, its first customer for its closed-loop banking and payment processing solution, StateSourced.
"We've completed our transition from development stage to revenue stage," said Jeremy Roberts, CEO of Medical Cannabis Payment Solutions. "We have just started our business development efforts and the market is responding very well. We anticipate having many more, similar releases."
During the initial installation and integration period, the client has asked Medical Cannabis Payment Solutions to wait to disclose their name, "They'd like to avoid having customers rush to use a system that isn't quite deployed in each of their locations," added Roberts. The client has a Nevada license for cultivation, production and a dispensary.
"We are very pleased to have secured our first contract," stated Mr. Roberts. "The industry wants the type of security, simplicity and compliance we offer. We're excited to be the solution to their concerns. When customers are made aware of our ability to comply with FINCEN, avoid the problems spelled out in the Cole Memo, they're telling us there isn't an alternative; we're it."
Medical Cannabis Payment Solutions (OTC Pink, REFG), specializes in state-of-the-art financial services structured to serve the cannabis and banking industry, issues a shareholder letter to update investors on recent advancements, and how its emerging corporate vision continues developing.
Hey I-man, No I did not. Interesting use of old space. Their new web site looks good if you have not looked yet. I wonder if they have any beta users of their software out there yet. I'll keep an eye on this puppy and see what "crops" (LOL) later this summer.
Cheers and have a great 4th
Did you all hear about that Toronto, Canad Hersheys plant idled, they now have refurbbed into a medical MJ manufacturing facility... And a former steel town in PA (Braddock, PA) is also considering doing what the Canadiens have done???
Interesting.
I-man I had not heard of the other company your mentioned but your comments about REFG eventually hitting mainstream with the work they have performed so far can be interesting for sure.
I was in it at one time and got out - maybe now is the time to reinvest. The next year or two will be very interesting
Cheers!
the numbers I provided came straight from the interim financial report issued by the company itself. not hard to find accurate info.
Yes JFX, this one actually kind reminds me of the old SPNC (Spectranetics Corp) when I lived in Colorado Springs back in 90's, who then originally listed OTC and I invested at like 9-15 cents then... If you followed that one, it uplisted to larger exchange, I believe traded in the upper $20.00 range eventually, etc...
This could well be like that one, quiet, only one in their position, only locals buying long term, then once its technology hits mainstream it takes off big time never looking back...
I am not a drug purveyor, but with what REFG has done last several years on State to State basis, plus they are only ones in this unique position and now with recent update to banking payment system compliance...
TD Ameritrade shows 75.2 million shares outstanding on market as of today's date. Just a FYI here...
Did any of you not read yesterday's release yet? You'd think someone with a CNBC account would send this to them and see if ti gets airtime?
Medical Cannabis Payment Solutions Prepares for Launch of State of the Art Industry Compliant Payment Processing System
10:10 am ET June 6, 2017 (Globe Newswire) Print
Medical Cannabis Payment Solutions (OTC Pink, REFG), specializes in state-of-the-art financial services structured to serve the cannabis and banking industry, issues a shareholder letter to update investors on recent advancements, and how its emerging corporate vision continues developing.
In March of last year, we mobilized to bring to market the first and only first-tier merchant processing operation of its kind; a comprehensive structure which tracks sales and tax collection, and empowers businesses with an outstanding state-of-the-art client management system through the development of "StateSourced," a wholly-owned subsidiary structured to manage the development and marketing of our highly advanced proprietary industry specific payment processing system. Our StateSourced administration system is designed to be a robust, instrumental, closed loop merchant processing system, in response to the industry's overwhelming need to have a private and encrypted digital solution to serve the rapidly growing legal cannabis industry.
At this point, financial institutions have generally not been able to provide banking access to the cannabis industry. This is, in part, because financial institutions have not been able to integrate necessary due diligence requirements. StateSourced has developed a unique proprietary system to address these issues, and has committed to make 2017 an evolutionary year for the implementation of a financial structure for the advancing legal cannabis marketplace.
Our forward-looking goals for the remainder of the 2017 Calendar year are as follows:
-- Growing sales and profitability through solidifying agreements with dispensaries and medical related businesses in the cannabis industry.
-- Partnering with public officials and government agencies to expand the medicinal cannabis legal landscape
-- Strengthening management strategies to assist in the formation of an industry leading legal framework that will fortify financial security and structure in the rapidly developing medicinal marketplace.
-- Developing and maintaining a profitability rate that is among best-in-class cannabis vendors, as measured by Adjusted EBITDA as a percentage of net sales, thus improving return on invested capital, and maximizing total shareholder return.
Since the commencement of operations in July 2013, significant time and resources have been invested into product development, market research, and brand strategy, in preparation for anticipated growing consumer demand in state-legalized cannabis. This approach has strategically positioned the Company finely to service the industry and emerging economy.
According to a report from New Frontier Data, its forecasted that tax revenues in states with legalized marijuana will reach $1.8 billion, of which $1.4 billion will be from cannabis specific taxes. North American legal marijuana sales totaled $6.7 billion in 2016, and in another report by cannabis market research firm New Frontier Data projects the industry will top 255,000 jobs by 2019 and reach $24.5 billion in sales by 2025.
As the market continues to open, creating evolving new industry demands, Management is keenly focused on using the momentum gained to solidify our position as an incumbent pioneer in the emerging Marijuana financial sector. If these statistics hold true, we will have a monumental opportunity to expand and as markets continue to open, Nationwide. For now, we are determined to continue Building substantial momentum and grow where we are firmly rooted.
About Medical Cannabis Payment Solutions: Our mission is to provide end-to-end management, across multiple management systems, for medicinal marijuana operations. Many medicinal marijuana companies have experienced such rapid growth that they are finding it difficult to manage all aspects of their operation. In order to become a successful and compliant medicinal marijuana operation, effective management must depend on many different systems. REFG solves the fragmentation problem by identifying tools that are important to dispensaries, and customizing those tools specifically catered to the industry. We strive to create awareness within the medicinal marijuana industry and to develop an environmentally friendly, economically sustainable business while increasing shareholder value. For more information, please visit the company's website at: www.refg.co
FORWARD-LOOKING STATEMENT: 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 REFG to be materially different from the statements made herein.
Jeremy Roberts
Jeremy@Refg.co
702-706-7011
thats a 2013 number
Total Shares authorized as of March 31, 2017: 490,000,000 shares of common
stock and 10,000,000 shares of preferred stock, including 250,000 shares of Series
A Convertible Preferred Stock
Total Shares outstanding as of March 31, 2017: 221,592,818 shares of common
stock and 35,000 shares of Series A Convertible Preferred Stock.
They have a new web site that clearly spells out what they do. This stock is on my 2nd tier watch list. I'm in the B2B software application business and their concept sound great but until the Fed loosens up the rules, I'm not sure what value this group brings to the table right now. The board seems to have a lot of law makers on it. Did they add another name that was high up in government recently?
Who shorted on this release yesterday? This is very good and more positive for this corp?? They are going to launch 1st US banking compliant payment system!!
Why is this not on CNBC???
>>>>>>>>>
Medical Cannabis Payment Solutions Prepares for Launch of State of the Art Industry Compliant Payment Processing System
10:10 am ET June 6, 2017 (Globe Newswire)
Medical Cannabis Payment Solutions (OTC Pink, REFG), specializes in state-of-the-art financial services structured to serve the cannabis and banking industry, issues a shareholder letter to update investors on recent advancements, and how its emerging corporate vision continues developing.
In March of last year, we mobilized to bring to market the first and only first-tier merchant processing operation of its kind; a comprehensive structure which tracks sales and tax collection, and empowers businesses with an outstanding state-of-the-art client management system through the development of "StateSourced," a wholly-owned subsidiary structured to manage the development and marketing of our highly advanced proprietary industry specific payment processing system. Our StateSourced administration system is designed to be a robust, instrumental, closed loop merchant processing system, in response to the industry's overwhelming need to have a private and encrypted digital solution to serve the rapidly growing legal cannabis industry.
At this point, financial institutions have generally not been able to provide banking access to the cannabis industry. This is, in part, because financial institutions have not been able to integrate necessary due diligence requirements. StateSourced has developed a unique proprietary system to address these issues, and has committed to make 2017 an evolutionary year for the implementation of a financial structure for the advancing legal cannabis marketplace.
WHat drove this to 20cents last year???
Hey Tracing, new ID I see.
State of SC today has legalized hemp growth there now...
More good news and no.
Vending machines that is too cool. Do you have a link or picture?
State of NC now placed MJ sales on next voting session in fall.
Did you guys see those "test market" vending machines out right now that serve booze and legal marijuana (weed) in them ! Unreal...
Says they have 75 Million shares out there. Would not be too hard for someone or small eager group to amass majority of those and take over this company here...?
This is kind of news that could have a positive affect this company as I noted in my last post.
Is their web site up finished yet?
Cheers!
"Congress is blocking the Justice Department from spending any money that interferes with state medical marijuana laws, again.
Known as the Rohrabacher-Farr amendment, it is a provision included by lawmakers that allows states to continue controlling their own medical cannabis policies and agenda without fear of intervention from the federal government. The bill, which funds the government through the end of September 2017, is expected to pass this week. "
This was posted on another board NWAV and I read it on another web site that I can't remember at the moment. TOO FUNNY.
Cheers.
I had this stock on my watch list and dropped it but now that things are heating up I will keep a closer eye on it. Seeing that their software has a strong regulation module in it, me thinks some news from the government about leaving states to themselves will help this puppy. AS the MJ market becomes more commercialized, new regs are bound to follow...
Well put "time will tell"
Cheers.
Will this little Gem clear its previous 52 week HIGH ??? Only time will tell...
Colorado Governor: Sessions Finds Obama-Era Marijuana Policy ‘Not Too Far’ Off
A federal crackdown on pot doesn’t appear to be looming, Hickenlooper says.
By Matt Ferner
http://www.huffingtonpost.com/entry/colorado-marijuana-laws-governor-jeff-sessions_us_59026029e4b0bb2d086c4485?ref=yfp
Yes I know. I am amazed how many States now are on board with this industry... banks are crooks and love money, so if one of them is instrumental with changing federal RICO laws so that MJ funds can be transacted thru banking industry systems, this and other stocks would see few extra 0's to left side of the current PPS IMHO...
if the feds can stop trying demonize mj by ignorantly comparing its effects to opiods, then perhaps the pps may rise. But the orangemen have really thrown a wrench into the machine at the moment with their veiled threats. However, the genie's outta the bottle. States are making way too much money to let things return to a reefer-madness climate.
Seattle wonder if this will break $1.00 this year ??? I have to admit, since this time last year, many more States now passing new regs for sale of this product for multiple uses...
Hey Pot Heads, today South Carolina entering legislation to be voted on expanding medical MJ usage commercially now... Thought you'd like to know.
Now Illinois next State to apprrove purchasing MJ retail saying it will raise $700M per year in new tax money Illinois desperatly needs to pay its debts...
I got call into HQ in AZ. I am surprised to see PPS so low especially after recent PR they put out...
I'm new here. What's the readers digest on this stock please?
YES gotw, now NC legislature is looking at bill for "industrial hemp" growth here, and I already know large farm that is in-process of converting fields to underground irrigation piping and prepping right now for industry as a whole....
Interesting article regarding pot companies and banking. Not overwhelmingly positive but this is postured fantastically after even a little clarification on what the Federal government intends to enforce or update. Pot Banking Under Trump
pj, CEO puts out PR two days ago and this thing gets shorted to sh!!T again... Ridiculous. I do not condone any drugs myself of any kind, but as far as legitimizing banking system for legal cannabas purchases, REFG is the ONLY one out there some years now working with many State Legislatures and US banking commission to allow this type of Trade to be conducted "legally"; yet you'd never know by its PPS today... Unbelievebale.
LOOK at SNAP, Inc and what happened there? Makes no sense. SNAP is nothing, REFG is actually something (a commodity actually too), yet seemingly overlooked by many Investors still...
My two cents worth here of course...
seattle, new PR release 3/6/2017 ::
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Medical Cannabis Payment Solutions Adds Former Oregon State Senator to Advisory Board, Plans Engagement in Oregon
4:30 pm ET March 6, 2017 (Globe Newswire)
Medical Cannabis Payment Solutions (OTC Link, REFG) president and CEO, Jeremy Roberts, recently announced it has added former Oregon State Senator Bruce Starr to its advisory board, joining former New Mexico Governor Gary Johnson, Jim Gray, former presiding judge of the Superior Court of Orange County, and Curt Bramble, a Utah State Senator. Mr. Starr replaces Richard Kasteler, who has served over two years on the company's advisory board.
"We are incredibly grateful to Mr. Kasteler for his service. He has served us during a crucial period in the company's development," said Jeremy Roberts. "We are also very anxious to begin working with Mr. Starr in Oregon and other states to expand our footprint. This represents a very exciting development."
Bruce Starr is a native to Oregon. Bruce, strongly committed to public service, served as a State Senator in the Oregon Legislature, first elected in 2002 and re-elected in 2006 and 2010. Prior to his senate service, Bruce served two terms in the Oregon House of Representatives and a four year term on the Hillsboro City Council.
During his legislative service, Bruce was active in the National Conference of State Legislatures serving in a variety of leadership positions within the Conference. His NCSL service culminated in 2013-2014 when he served as President of the organization. Currently, he is on the board of the NCSL Foundation for State Legislatures.
"Having addressed the regulatory and financial problems facing not just Oregon but other states who've engaged in state-sanctioned cannabis, I am certain Medical Cannabis Payment Solutions is the answer to the banking nightmare faced by all participants," said Mr. Bruce Starr. "Our payment solution solves the challenges states are facing."
The company also announced it will begin working with policymakers and regulators in Oregon to deploy its services.
"I am confident in our company's team, vision and strategic direction," concluded Mr. Jeremy Roberts.
About Medical Cannabis Payment Solutions, Inc.
This company is Legitimate as are its Directors!
I am sad to see this sitting so low still and not growing to where I felt it would already be at as far as valuation/PPS...
This company has been at forefront of US banking industry & many State legislatures last several years for Cannibis transactions payment solutions for the entire industry, yet seems not to get the respect it deserves...
Came across this stock & this article tonight. Advisory board looks pretty legit. How this stock been running for the rest of you?
$REFG Adds Former Oregon State Senator to Advisory Board, Plans Engagement in Oregon
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