Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I know this stock has been performing poorly lately but believe this article may have had something to do with the most recent action. Most of the stocks mentioned did not seem to suffer as much as MWIP, however, so something else may be going on. A part of this article read:
"Squander No. 2: Inhale medical marijuana stocks
Your Baby Boomer friends from pot-legal Colorado are telling you that investing in medical marijuana companies is a can't-lose proposition. And everyone's doing it! Get in before it's too late!
Granted, the industry is budding, pun intended, but the over-the-counter stocks are so thinly traded and without track records, it’s best not to inhale just yet. "Just say no" to: Medical Marijuana Inc. (MJNA +1.31%), GreenGro Technologies (GRNH -4.15%), Growlife (PHOT +5.11%), Cannabis Science (CBIS -3.01%), MediSwipe (MWIPD +24.71%) and CannaVest Corp. (CANV 0.00%)."
http://money.msn.com/top-stocks/post--5-ways-to-squander-your-nest-egg-in-2014
I remember reading in the filings that 800 Commerce would trade at .033 or maybe .0033 a share. I'll have to go back and look.
No, not yet. I have two N/A listings that when rolled over with the cursor will show Mediswipe or 800 Commerce but no symbols or share count.
Would anyone like some good news?
http://www.nbcphiladelphia.com/video/#!/news/local/Inside-NJ-s-Medical-Marijuana-Facility/228862721
Will it really be all that dilutive?
"PLEASE NOTE THAT THE REVERSE STOCK SPLIT WILL NOT CHANGE YOUR PROPORTIONATE EQUITY INTERESTS IN THE COMPANY, EXCEPT AS MAY RESULT FROM THE ISSUANCE OF SHARES PURSUANT TO THE FRACTIONAL SHARES."
and...
"The principal effect of the Reverse Stock Split will be the reduction in the number of shares of Common Stock issued and outstanding from 448,378,661 shares as of October 9, 2013, to approximately 44,837,866 shares. The Reverse Stock Split will affect all of our Stockholders uniformly and will not affect any Stockholder’s percentage ownership interest in the Company or proportionate voting power, except to the extent that the Reverse Stock Split results in any of our Stockholders holding a fractional share of our Common Stock."
Sounds like much ado about nothing. I was not a big fan of the original 1 for 10 split a while ago and I'm glad this is reverting back.
Most of John Q. Public are ignorant as the day is long concerning MMJ. I know this letter mentions a different ticker quite a bit but the changes initiated by the DOJ are sweeping through an industry of which MWIP is a member and 100% relevant. I plead for some leniency. Fortunately, the people who count have a differing opinion:
An Open Letter from Sterling Scott, CEO, GrowLife, Inc., Regarding the DOJ Position Change Regarding Marijuana
Last update: 9/11/2013 8:00:00 AM
WOODLAND HILLS, Calif., Sept. 11, 2013 /PRNewswire via COMTEX/ -- GrowLife, Inc. (PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, is pleased to provide its investors with an open letter from Sterling Scott, CEO, GrowLife, Inc.
Dear Investors,
Throughout its history, GrowLife has taken a very measured and conservative approach to the scope of our core business activities, focusing on manufacturing and retail marketing of the sophisticated "picks and shovels" required for the indoor gardening market--including the marijuana market in the U.S.A. I believe that the recent statement by the Department of Justice (DOJ) represents the most dramatic policy change for the medical and recreational marijuana industry in its history and requires comment by the CEO of the largest fully reporting marijuana related public company in the country.
At GrowLife we do not traffic in hyperbole but I cannot underscore the importance of this paradigm shift by the DOJ. This is the watershed event that GrowLife, among other public companies, has been awaiting.
Briefly, in layman's terms, the DOJ position paper released August 29, 2013 gives all 50 states the green-light to implement reasonable marijuana programs, either medical or recreational (or both.) No doubt this will accelerate activities in the 21 states that already have such programs on the books without fear of federal intervention or reprisal. Moreover, it is likely to reduce the resistance to similar initiatives in the remaining states. A state legislator who wishes to introduce a cannabis friendly bill now is empowered with the understanding that his law, his state, can set the rules to govern themselves as long as they respect the DOJ's stated eight federal interest priorities. In my estimation, this is a catalyst the likes of which the industry has never seen before.
In its position paper, the DOJ has identified the specific federal interests that are vital in such programs. For the U.S. marijuana industry, this may well be the equivalent of the removal of a major section of the "Berlin Wall." Information and knowledge should begin now to flow freely, and the misguided stereotypes are likely to fade. Major media forces are already active in correcting the misinformation analogs of the "iron curtain" with notable persons like Dr. Sanjay Gupta acknowledging to a national audience the value of a much closer look at the medicinal properties of marijuana. We thank these honest souls for their pioneering reporting.
Importantly, for major participants in the equipment and expendables supply to the marijuana industry such as GrowLife, which expects to book over $5,450,000 million in revenue in 2013, the DOJ's position paper has two almost immediate benefits. First, it very positively affects our core business opportunities, as I will detail below. Second, it affords several new opportunities for expansion of GrowLife and its revenue producing activities.
GrowLife's Core Business
GrowLife's core business of retail merchandising of company brands along with the thousands of other products that we sell which constitute the sophisticated "picks and shovels" of the marijuana gold rush, may be uniquely and dramatically enhanced by the DOJ position paper. The reasons are very simple. (1) The DOJ has removed the major obstacle to the infrastructure investment and build cycles, which was the threat of some unrestrained federal interference with the industry. (2) As a result of lowered risk, many cannabis industry infrastructure build plans became active and funded almost within days of the DOJ publication of its position. (3) Even sectors of the industry that were already growing rapidly such as Colorado, suddenly went into overdrive as evidenced by the recent near doubling of commercial real estate prices and rental rates in many areas around Denver that are suitable for large scale grow operations. It is a trend that we expect to see repeated in emancipated states across the country. (4) For the first time, the DOJ position has made it very clear that marijuana produced in legal operations that are "...demonstrably in compliance with a strong and effective state regulatory system" and produced in one state will not in the near term be permitted to cross state lines. This determination has the desired effect of making marijuana related programs almost purely a state issue, while retaining flexibility in the position of the federal government.
Taken together, the DOJ clarifications on policy and practice are expected to have the very desirable effect of allowing the required infrastructure to be built in each and every state. In that GrowLife is primarily in the supply business for that infrastructure and sustainment, it is unlikely that a more favorable scenario is possible for the Company and its shareholders. The DOJ position validates GrowLife's laser focus on infrastructure and supplies. In our view, the DOJ position statement has kicked off the largest infrastructure build cycle in the history of the cannabis industry. GrowLife is very well positioned for the start of that build cycle as it grows across the country and does so with company brands and infrastructure established prior to this catalytic event.
GrowLife's Business Expansion Opportunities
The DOJ position clarification also appears to have opened a host of new related business opportunities for GrowLife's focus on "operations" that are fully permitted, licensed and taxed in states across the country. Like almost all businesses, the legal marijuana business in the U.S. is about relationships that have been cultivated for many years with growers, dispensers, advocates and critics. GrowLife has many competitive advantages in this regard because our core customers and relationships are the regional growers and dispensers in legal states through our network of retail stores, on-line stores and subject matter experts. Specifically, we are pre-positioned to participate in cultivation operations with our customers and have abundant opportunities to extend our wholesale and retail operations to every form of permissible and fully permitted, licensed and taxed cannabis oriented business. Our expanding network of stores (GrowLife has announced expansion plans for more than doubling its store footprint in the next 18 months) may be readily redeployed to support more than simply retailing of grow gear.
Announcement of Advisory Board
In order to ensure that the best minds are actively involved in guiding our business on a continuing basis, and in light of the industry expansion heralded by the DOJ's recent policy statement, GrowLife is pleased to announce the formation of an Advisory Board to guide the expansion of GrowLife into new business opportunities. The Advisory Board will specifically advise the Company on acceptable types of new operations and will include legal, medical, political, financial and industry specific advisors with the initial membership acceptances to be announced in groups over the next several weeks.
In my tenure with GrowLife and as an industry advocate in this great country, I have never been more excited. I look forward to the challenge of effectively stewarding GrowLife through this tremendous opportunity.
Sincerely,
Sterling ScottCEO, GrowLife, Inc.
Holder scheduled for tomorrow?
Everything being pushed back because of Syria it seems.
Washington, DC—(ENEWSPF)—September 9, 2013. On Tuesday, the Senate Judiciary Committee will hold a first-ever Senate hearing on the issue of marijuana legalization and the tension between state and federal marijuana laws. Last November, Colorado and Washington became the first political jurisdictions in the world to approve the legal regulation of marijuana. Twenty states and the District of Columbia have also approved the medical use of marijuana. On August 29, the Department of Justice issued a directive to federal prosecutors instructing them not to interfere with state marijuana laws – as long as a number of stipulations are adhered to, such as preventing distribution to minors.
“On the one hand, it’s hard to fathom why the Senate had to wait until twenty states had legalized marijuana for medical purposes, and two more had legalized it more broadly, before taking up this issue for the first time,’ said Ethan Nadelmann, executive director of the Drug Policy Alliance. “But, that said, Senator Leahy’s leadership on this issue is highly welcome, and suggests that the Senate at last is acknowledging the remarkable shift in public opinion and state laws involving marijuana.”
More than 750,000 people were arrested for marijuana in the U.S. in 2011, the last year for which data is available. Of those arrests, 87% were for mere possession. Polls show that a majority of Americans support legalizing and regulating marijuana like alcohol, and support is rising across the political spectrum. It is likely that more states will legalize marijuana between now and November 2016.
Support is increasing in Congress for changing federal marijuana policies. Last week, Senator John McCain (R-AZ) made headlines when he said, “Maybe we should legalize [marijuana]. We're certainly moving that way as far as marijuana is concerned. I respect the will of the people.” Senate Judiciary Chairman Patrick Leahy (D-VT) has said the federal government “ought to respect” states that legalize and regulate marijuana. Senator Rand Paul (R-KY) has suggested decriminalizing all drug users, including marijuana users. A number of senators voted to prohibit the Drug Enforcement Administration (DEA) from spending any money undermining state medical marijuana laws when they were members of the U.S. House – Senators Jeff Flake (R-AZ), Christopher Murphy (D-CT), Mazie Hirono (D-HI), Martin Heinrich (D-NM), Tammy Baldwin (D-WI).
Meanwhile, in the House, nine bipartisan marijuana law reform bills have been introduced, including two bills that would end federal marijuana prohibition. 163 Representatives voted last year to prohibit the DEA from undermining state medical marijuana laws, including 28 Republicans. Earlier this year 225 House members approved a successful amendment allowing colleges and universities to grow industrial hemp for research purposes, if it’s legal under state law.
In late August, Attorney General Eric Holder announced that he informed the governors of Washington and Colorado that the Department of Justice will allow the states to implement their ballot initiatives that legalized the production, distribution, and sale of marijuana for adults. Deputy Attorney General James Cole also issued a memo to U.S. attorneys across the country outlining priorities for federal prosecutors enforcing marijuana laws. In a surprising twist, the memo notes that state regulation may further federal interests by reducing organized crime and making marijuana less available to youth.
“Legalizing marijuana and shrinking the number of people behind bars in the U.S. is an issue the left and right can join together on,” said Bill Piper, director of national affairs for the Drug Policy Alliance. “Like the repeal of alcohol prohibition, the repeal of marijuana prohibition will save taxpayer money, put organized crime syndicates out of business, and protect the safety of young people.”
Source: www.drugpolicy.org
http://enewspf.com/latest-news/latest-national/latest-national-news/46025-tuesday-historic-u-s-senate-hearing-on-marijuana-legalization.html
No, nothing yet. But I'm getting fed up with TDA anyway. NASDAQ too, another glitch today.
It's the same story with ER*B. Way too many shares available.
Senior editor of High Times coming up on CNBC next.
To discuss latest Colorado and Washington news.
Some webpages on Facebook are public and you don't need an account or login. Just go and look.
https://www.facebook.com/pages/Mediswipe-Inc/162141873966391
Is a unit a single drink or a case?
Las Vegas, NV -- (SBWIRE) -- 08/20/2013 -- MediSwipe Inc (OTCMKTS:MWIP) has announced as of August 16th 2013 that the company has received a purchase order through company’s state distributor for over 10,000 units of "Chillo," the company's Hemp based energy drink.
MediSwipe Inc.’s CEO, B. Michael Friedman stated that this would probably be the most important branding opportunity company has to date to introduce the brand “Chillo” to the mass market over a few days. MediSwipe Inc anticipates Chillo sales and awareness to be increased. Their people will be in the marketing campaign, selling drinks, giving away shirts and increasing the market share.
Segment on marijuana on CNBC right now.
Maybe there was a conflict of interest that would come back to haunt them later. MWIP is trying to create revenue and profit while Michigan Compassion is a non-profit organization. Keep in mind many states approved MMJ only under the condition that it be more of a humanitarian gesture and there was no profiteering involved.
Have you noticed that since Mediswipe started selling it under their name the price on C+ Swiss is less than half of what Nutricity wanted for it? I hope Chillo will come in 12 packs soon.
And share with your friends of FB!!!
Better yet, share with your friends of FBI!
But seriously, I just went to order on Amazon and got this:
Sign up to be notified when this item becomes available.
Looks like a sellout already. Better keep this in my Wishlist.
I see C+ Swiss on Amazon but it's not being sold by Mediswipe. Over $42 for 12 pack? That's $3.50 per can vs. $1.45 ($35/24) for Chillo from MWIP. Someone's gouging and if exclusive e-commerce rights apply to both products Mediswipe needs to give Nutricity a warning shot.
C+ Swiss on Amazon
It looks that way but we don't know how much of that is profit because we don't know how much it costs Mediswipe per can.
They've spent nearly eight months visiting marijuana grow houses, studying the science of getting high and earning nicknames like "the queen of weed." Now, officials in Washington are taking their first stab at setting rules for the state's new legal weed industry.
The state is releasing preliminary draft rules Thursday afternoon, possibly covering an array of topics ranging from how pot should be grown, labeled and tested for quality assurance to what types of security should be required at state-licensed pot businesses.
But some of the most interesting questions — such as how much marijuana will be grown and how many retail stores will be licensed — aren't likely to be answered yet. The state's official pot consultant is still working to estimate how much marijuana people here use, and those estimates will help determine how much pot gets produced.
"It's been a lot of long hours," said Brian Smith, the spokesman for the Liquor Control Board. "We are doing the groundwork. We're trying to be as thorough as we can as we go through this initial several months since the election."
Last fall voters made Washington and Colorado the first states to legalize the sale of taxed marijuana to adults over 21 at state-licensed stores.
In Colorado, devising rules for the pot industry fell to the Legislature, which has passed a series of bills laying out how marijuana should be grown, packaged and taxed. Gov. John Hickenlooper is expected to sign the bills May 28.
Washington's measure directed the Liquor Control Board, led by three voting members, to set parameters for the industry. Dozens of board employees divided into 11 teams, each researching different areas — licensing, contracting, legal and policy, enforcement — to inform the board's decisions. The teams meet weekly to keep apprised of each other's progress.
The board's comptroller, Mike Steenhout, has worked with testing labs and experts from around the world to determine how the pot should be tested to ensure that it's safe and consistent when it reaches store shelves.
The board held eight public forums around the state to hear what pot growers, prospective retailers and others had to say. More than 3,000 people attended; few were shy about airing their views.
Now, the board is taking what it has learned and setting out what amounts to a draft of its draft rules for the industry. After allowing people to comment on the rules it releases Thursday, it will propose its official draft rules in about month, and take public comment on those. The final rules aren't expected to be adopted until this summer, with applications for pot growing, processing and retailing licenses accepted in September.
Marijuana sales at state-licensed stores should begin in early 2014 — unless the Justice Department has something to say about it. Pot remains illegal federally, and the DOJ could sue to try to block the licensing schemes in Washington and Colorado from taking effect.
So far, the Liquor Control Board has given few hints about what the rules will entail. Board Chairwoman Sharon Foster — who began a speech at a recent conference by saying, "My friends now call me the queen of weed" — has said that the board probably won't allow open-field marijuana grows, because they're too hard to control. There won't be any pot delivery companies to take weed from a dispensary and deliver it to customers, because the law does not provide for licensing of pot delivery companies. People who have old pot-related convictions probably won't be barred from obtaining licenses.
But many other questions remain. How does the state plan to collect taxes, when federally insured banks won't let marijuana businesses open accounts? How much pot-related advertising will be allowed, if any? Will there be caps on the numbers of growers and processors licensed to provide pot and pot products to the stores? What should be done with all the plants — stalks, roots and leaves — after harvest?
Cale Burkhart, who makes marijuana-infused topical creams under the Vita Verde brand, said he hopes the board doesn't limit the number of growers and processors.
"It's an emerging industry, and it's one that most anybody, as long as they can have their ducks in a row, can break into," he said. "It should be open to people, so that grandma, or a high school dropout, can have the opportunity to start a business and be successful. I'm excited to see if that's how they're going to do it."
http://abcnews.go.com/US/wireStory/wash-set-release-draft-rules-pot-industry-19190680#.UZVax0psKpB
Congratulations on making a clean getaway. A number of MMJ stocks had gains today, many double digit percentages. Our turn is coming.
LOS ANGELES, May 7, 2013 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a data management solutions company for the medicinal marijuana and health care industry, today announced that the Company has signed a term sheet with a Chicago based private equity firm to receive up to $600,000 in funding over the course of the next nine months as working capital. The Company is expected to receive the first $200,000 in funding within the next seven days under the terms of the agreement.
"These funds will provide the capital necessary to fund our planned growth, nurture expansion into untapped areas of the medicinal market, including our MediSwipe DMS product now being deployed, operation of our certification centers and develop markets for our new Hemp based energy drink "Chillo" and "C+ Swiss Tea" national distribution network. Adding yet another institutional partner to our team further validates our business model as we move closer toward profitability and creating meaningful shareholder value," stated B. Michael Friedman, CEO for MediSwipe Inc.
Just read a typo this morning from SBWire:
"MWIP’s total market capitalization is $19.85 billion, along with 444.17 million shares outstanding."
I wish it were true but it should be a market cap of 19.85 million. Maybe someday.
A budget discussion involves how much money is being spent versus how much is coming in. Taxation of MMJ (or for recreational use) is a potentially large source of revenue for the gov't.
April 05, 2013 11:00 | Source: MediSwipe, Inc.
LOS ANGELES, April 5, 2013 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com) (MWIP), a patient security solutions and financial products company for the medicinal marijuana and health care industry, today announced that the Company's proprietary digital patient management and tracking software application developed for the medicinal marijuana sector "MediSwipe DMS", is now available to patients, caregivers and dispensaries to sign up and trial at www.MediSwipe.com. Those seeking to test the system must click on the banner and register to receive a log-in for the system. The MediSwipe DMS application includes patient registration, digital records management and tracking of all caregiver transactions including log-in time, date stamp and quantity and type of medication. Users under agreement will pay monthly licensing fees for access to the program.
"We are continuing our installation process of the MediSwipe DMS at the first five locations between Detroit and Ann Arbor, and are looking forward to releasing comments and feedback from operators once the system is in place over the next few weeks, giving them the opportunity to work with it and scan all patient files. We truly believe the MediSwipe DMS will prove to be the leading solution having the ability to track 'seed to sale', and allow us the opportunity to show legislators in every regulated state the immediate benefits of the MediSwipe DMS as a mandated solution for patient registration, tracking of medication and auditing of taxable state revenues," stated B. Michael Friedman, CEO for MediSwipe.
The company will also be appearing at the 42nd annual Hash Bash in Ann Arbor rally for marijuana reform on the University of Michigan Diag. This year's speakers include state Rep. Jeff Irwin, D-Ann Arbor, and Ann Arbor City Council Member Sabra Briere, D-1st Ward.
Irwin has attracted statewide attention recently for his push to end the debate over medical marijuana in Michigan by decriminalizing cannabis in the state. Briere has worked closely over the past few years to help craft a set of local regulations for medical marijuana dispensaries operating in Ann Arbor. The Hash Bash rally on the Diag takes place from noon to 1:30 p.m. April 6th.
Other speakers expected to address the crowd include statewide reform leaders and representatives from Americans For Safe Access, Michigan NORML, Michigan Moms United, Michigan HEMP, Students For Sensible Drug Policy and the Ann Arbor Medical Cannabis Guild. MediSwipe will be making appointments for patients for their new Certification Centers in Detroit and Ann Arbor during the day long Monroe Street Fair as well as registering new dispensaries and provisional centers for the Company's industry applications.
I (JUST) HEARD A RUMOR...
Great, that's my favorite Bananarama song!
Yes, but it's gone now.
I almost wet myself...
when I received this Google Alert:
MediSwipe Inc., (OTCBB:MWIP) trading at $0.29.
Turns out they made a mistake in the article and were talking about MJNA. Maybe someday.
http://www.investorideas.com/news/2013/Agriculture/02271.asp
Has anyone else noticed that the "1" share size is no longer present on L2 for ERBB and MJNA but was there during the downturn?
And all bouncing nicely today. Let it continue.
ERBB going nuts today. Low = $.0097 on 220M shares. Anyone notice this all started at precisely 1:30 p.m.? And can anyone tell me what the "1 share" signal means to MM's, if anything? Thanks.
Looks like ERBB and other MMJ stocks turning down as well. Buy the dips?
Ironically, I read marijuana is legal in North Korea.
I wanted to diversify and buy some other stocks in the MMJ sector but ran into a snag today. Tried to buy some MJNA and got the DTC "chill" message. Anyone else run into this? I use TD Ameritrade and people who use Scottrade tell me no problems.
Anyone else have trouble buying this stock because of the DTC "chill"?
You can try this Yahoo! chart:
http://finance.yahoo.com/echarts?s=MWIP+Interactive#symbol=mwip;range=5y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;
Some sites don't publish the older historical data since MWIP changed from OTC:BB to Pink Sheets.
And they're not just for healthcare, they want to operate in many diverse areas.
From the S-1 filing:
"The Company operates and will seek to trademark the following domains and brands:
www.800commerce.com
www.my800doctor.com,
www.my800realtor.com,
www.my800creditrepair.com
www.my800lawyer.com
www.my800homeloan.com
www.my800travel.com and others."
"The first “MY800” portal launch under the 800 Commerce platform will be “My800DOCTOR.com."
"The Company has been approved by the Common Short Code Administration for use and operation of the international short code “MY800” (69800) as proprietary intellectual property with the use of unlimited keywords."
I think it was just a bubble and a low volume one at that. An article at Seeking Alpha had some good info on it:
Just when it seemed sanity was returning to Medbox (MDBX.PK). A month ago the shares had risen 3,000% for no fundamental reason whatsoever and its rise was merely due to a brief mention in an article in the Marketwatch section of the Wall Street Journal, reminiscent of irrational euphoria of the 1990s dot com era. Literally over night, MDBX.PK became a multi-billion dollar market cap company trading at over $200 per share for no rational reason. The next morning, MDBX.PK warned in a press release:
"While we are pleased by the share attention, Medbox shares have traded between $2.75 and $3.45 over the past several months. Our fundamentals and market potential are improving, especially with the potential of our new Rx product line, but we temper investor expectations at present price points."
The founder, Vincent Mehdizadeh, even logged onto a message board and warned: "I hope no one buys at $35 per share, even as the founder of the company, I feel that's way inflated."
MDBX.PK shares came crashing back to Earth, opening down over 50% and closing down over 90% that day. Other than the dead cat bounce that followed probably from day traders playing with it amid its newfound attention, MDBX.PK continued to drift and slowly fade into the background now that its 15 minutes of fame were over
Then, it happened again -- MDBX.PK got a very brief mention on CNBC for just a few seconds, and very little of anything mentioned about MDBX.PK specifically other than its previous 3000% price rise and fall. Shares shot up anyway nearly $9 per share in just a few minutes rising from around 50% from just under $23 to $34 per share. After getting another very quick mention by CNBC mocking its market value saying "take that Facebook (FBN)!" It closed right around $30, up 32% on the day.
Here's what's really odd: MDBX.PK had a press release 3 hours before the CNBC show that had bad news, yet shareholders apparently didn't even blink. The release stated in part "Utilizing its strong stock price, which has recently settled into the $20 range and boasting a market capitalization of over $245 million, the company is actively pursuing select strategic acquisitions..." and "To avoid dilution to shareholders, the company's executives, founders, and affiliates, who possess over 90% of the company's stock will be contributing up to 2,000,000 shares of Medbox stock, valued at approximately $45,000,000, back to the company to support acquisition activity."
Sounds like good news, right? Wrong! Read between the lines! The company is all but saying "Our stock is vastly overvalued so what better way to take advantage of this fact and use it to acquire other companies that will add fundamental value to our business since there's no way these ridiculous prices are going to hold long term. In fact, we're so confident that they won't hold and us insiders can't even sell at these levels that we're willing to gift $45 million worth for nothing." At least that's my take on it.
Nobody gives away $45 million for the heck of it. Nobody. Management basically is saying, by implication, that MDBX.PK is heading for another nosedive. Which shouldn't come as a surprise. The non-SEC-reporting company filed something resembling a 10Q with otcmarkets.com revealing barely over $1.3 million in sales last quarter and a net income of $78,584.26. That's not a typo. The market cap is over $300 million with a net income of 78 and a half grand for the quarter or for all intents and purposes -- zero.
Buyer beware.
http://seekingalpha.com/article/1052971-medbox-rises-from-cnbc-mention-despite-bad-news-earlier
How did you arrive at the 127 to 1 ratio? Thanks.
MediSwipe Inc. Announces New Corporate Headquarters in Michigan
New State Legislation Favoring Medical Marijuana and Medical Dispensaries Offers Company Growing Business Opportunities
LOS ANGELES, CA--(Marketwire - Jan 3, 2013) - MediSwipe Inc. (www.MediSwipe.com) (OTCQB: MWIP), a patient security solutions and financial products company for the health care industry, announced today that the Company has relocated its corporate headquarters from South Florida to Birmingham, Michigan effective immediately. The Company made the decision to relocate to Michigan based on recent and favorable state legislation regarding medical marijuana and dispensary laws as early as two weeks ago in December 2012.
While Colorado, Washington and Massachusetts have grabbed the spotlight during the elections, the state of Michigan made plenty of headway as well, though in an indirect way. Voters in four cities -- Detroit, Grand Rapids, Flint and Ypsilanti -- backed initiatives to decriminalize marijuana or make cannabis a low priority for law enforcement officials.
Key members of the MediSwipe leadership team, including President B. Michael Friedman and legal counsel, will be based in the state as well as some of the Company's largest shareholders. As one of the fastest growing medical marijuana states, Michigan will also provide a strong community of support for the growing Company.
Michigan's recent legislation adds clarification and restrictions to the voter-approved medical marijuana act of 2008 and got the required support from three-fourths of legislators. The changes are the result of many months of meetings with stakeholders and committee hearings with testimony from law enforcement officials, doctors, medical marijuana caregivers and patient advocates.
Two main bills got 29-9 and 30-8 votes in the Republican-led Senate. Shortly after, the GOP-controlled House voted 98-7 and 100-5 to send them to Gov. Rick Snyder.
HB 4834 requires a driver's license or state ID card to obtain medical marijuana patient registration cards, extends the card's expiration from one to two years, and attempts to address a backlog of card applications by calling for the state to contract with a private company to help process and issue registration cards.
It also would allow the Department of Licensing and Regulatory Affairs to verify the validity of registry cards to members of law enforcement, without disclosing more information than necessary.
HB 4851 adds conditions for a "bona fide physician-patient relationship," which is required for medical marijuana cardholders.
"I felt this move was a necessary and important move for the Company, and will allow us to keep a close pulse on the industry as we continue to introduce innovative products to businesses and patients in Michigan and surrounding states proposing similar legislation. While the states out west including Colorado and Washington figure out total legalization, we would prefer to focus on and be the dominant player within the east coast and Midwest markets like Michigan, New Jersey, Massachusetts and potential new emerging markets like Ohio and Vermont, keeping our east coast roots as well as remaining close to our investment banking partners on Wall Street," stated B. Michael Friedman.
"Right now, MediSwipe can offer server or cloud based patient record scanning and record storage through our DigitalID software, bill pay and cashless payment kiosks for alternative payment solutions as well as mobile platform solutions for coupons, prescription alerts and renewals. Any dispensary or healthcare operation seeking more information on the MediSwipe suite of products may call our offices at 561.296.6393," further stated Friedman.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides a terminal based service packages and an integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and alternative medical Financing.
FORWARD-LOOKING DISCLAIMER
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 MediSwipe Inc. to be materially different from the statements made herein.
http://www.marketwire.com/press-release/mediswipe-inc-announces-new-corporate-headquarters-in-michigan-otcqb-mwip-1742141.htm