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.
U.S. Going Green?
Here's an MMJ website oriented to the business side of the industry.
http://mmjbusinessdaily.com/2012/12/13/us-going-green-more-than-a-dozen-states-could-consider-marijuana-legalization-next-year/
Capital gains taxes could rise as high as 25% for "high income" individuals ($250,000+).
I more worried about this fiscal cliff. No vote tonight, nothing will resume until after Christmas. Markets may tank big time tomorrow making it difficult for any stock to move up. We shall see.
MDBX did have some crazy "runs" but on dangerously thin volume. At least there is real liquidity here. Once again we topped major companies like C and AAPL in volume.
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1355518800000&chddm=7429&chls=IntervalBasedLine&q=PINK:MDBX&ntsp=0&ei=hYfOUJjBO8fb0QGxtwE
Stocks Traders Should Be Looking Out For: otcqb:MWIP
MarketWatch
MediSwipe Inc. (otcqb:MWIP), a provider of online and wireless merchant payment solutions in the U.S. and internationally, is continuing to rally in mid-day trading today. At last check, MWIP was trading 14.08% higher at $0.0081 on volume of 19.25 million, which is more than three times the daily average volume of 6.04 million.
MWIP has gained more than 88% in the last three trading sessions. The stock has been rallying on the back of some major announcements. On Wednesday, MWIP announced the launch of its proprietary security software application for digitization of medical marijuana patient records. On Thursday, the company updated shareholders on 800 Commerce Inc., and S-1 registration statement filing.
MWIP has broken through after trading sideways for nearly a month. Technical indicators suggest that the rally will continue.
http://www.marketwatch.com/story/stocks-traders-should-be-looking-out-for-pinksheets-nsrgy-otcqb-mwip-2012-12-14
I remember those days. Before the split there was an intraday high of $1.22 and it closed around $1.10 that day.
Marijuana USA on CNBC again tonight. They should make a new program to keep up with all the new changes.
The volume is so thin I can read a newspaper through it. Looks ripe for manipulation.
About to talk about marijuana legalization on Larry Kudlow's show, CNBC.
Not that many shares being distributed?
They registered 18M shares but I also found this in the filing:
"The Company is planning on filing a registration statement, whereby the Company will be registering the six million shares of common stock owned by Mediswipe. Once the registration statement has been declared effective by the appropriate regulatory bodies, Mediswipe will be distributing the six million shares of common stock, on a pro rata basis to the Mediswipe shareholders as of a record date to be determined."
Can we calculate an approximation for the dividend?
We know two things, outstanding shares:
1. MWIP 444,167,878
2. 800 Commerce, Inc. 18,000,000
HEMP and MJNA also did well today. Why doesn't someone create an ETF for microcap medical marijuana related stocks? Cover everything at once.
More news leaks on the Ipad mini - 16 different models and only black or white?
http://www.the-digital-reader.com/2012/10/14/ipad-mini-shoiws-up-in-the-stock-system-for-a-german/#.UHsxN2f5OSo
I received another volume alert over the weekend. Just note that MWIP is not listed as OTCBB anymore.
Volume Alert Issued For The Following Stocks: (PINKSHEETS: BZRT), (OTC: FMCC), (OTCBB: MWIP), (OTCQB: EPAZ), (OTCBB: ARIS)
InsideBulls.com MacReport Media
Your online resource for microcap stock news and information, Insidebulls.com offers a free newsletter featuring some of the best penny stock picks available. Our sole purpose is to find the best penny stock picks and keep you informed with fast moving penny stocks. To receive our amazing penny stock newsletter and alerts go to http://insidebulls.com/
***The following Penny Stocks are active this week:***
MediSwipe Inc. (OTCBB: MWIP) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector For the Best Penny Stock Picks Subscribe to http://www.insidebulls.com/
I don't see any changes in the actual numbers. Seems to be some contradictory information on the par value of common shares, $.001 or $.01 depending on where you look.
What's new in the 10-Q/A? Can't read the XML files.
http://www.sec.gov/Archives/edgar/data/1040850/000126493112000658/0001264931-12-000658-index.htm
Is the Knight Capital Group, whose stock is taking a major pounding today, related in any way to the NITE (Knight Execution & Clearing Services LLC) that I see in L2 when watching MWIP? They don't seem to be, will search some more.
With a little more digging I find the Jersey City address does match up (3rd Floor, 545 Washington Boulevard, Jersey City). Looks like they are up for sale already.
A county judge has put a halt to a state Department of Health Services rule that is preventing the approval of a would-be medical-marijuana dispensary.
White Mountain Health Center wants to open a dispensary in Sun City, but it can't get the county to acknowledge or reject its request for zoning information. A state DHS rule requires such information for its dispensary applications.
Today, Maricopa County Superior Court Judge Michael Gordon put that state rule on hold for White Mountain, enjoining the state from rejecting the company's application for not complying with that rule.
Gordon's ruling is also something of a rude awakening for County Attorney Bill Montgomery, a conservative opponent of medical marijuana, and the Board of Supervisors.
In September of 2011, acting on advice from Montgomery, the five-member Board of Supervisors voted to disallow zoning for any marijuana dispensaries unless the plant is approved by the feds. The county refuses to set any zoning regulations for dispensaries, inspect any potential dispensary sites or even provide documentation acknowledging the dispensary's request. Montgomery told reporters just last month that if SB1070 is unconstitutional, so is the medical-marijuana law.
Without any zoning info, White Mountain had no way to complete its application, and the clock is running: The DHS is currently evaluating the applications it received and hold a drawing for the competitive districts on August 7. So, the company sued.
Gordon, unlike Montgomery or Governor Jan Brewer, is treating the Arizona Medical Marijuana Act like the state law that it is.
Gordon wrote in his ruling that he has "serious questions" about whether DHS director Will Humble or his agency have the legal authority to deny White Mountain's application based on the zoning rule.
Yet Gordon notes that it's the county causing this "incurable" deciency.
The county doesn't dispute that it has "categorically refused to examine whether Plaintiff's proposed site meets zoning requirements or if there are such requirements at all," Gordon wrote. "Thus, it will not provide any documentation. Without the documentation, Plaintiff cannot cure its deficient application."
The injunction against the state will apply until further court order.
Presumably, this means that when White Mountain's clinic gets approved by the state, it'll be rammed down the county's yaw, like it or not, and zoning be damned.
According to Humble's DHS blog, the state is finalizing the review process for 460 applications, out of the 486 it had originally received. Only three applications have been denied, and five were withdrawn. The other 18 applications are on temporary hold as the applicants attempt to comply with various rules, such as the one that encourages a dispensary company to have $150,000 in the bank.
Last week, Humble told New Times that several applicants were allowed some time to transfer the $150,000 from investment accounts to a bank in order to comply with the state's request. Having the money isn't a requirement, but companies that do have that much cash will be favored during the selection process, Humble says.
It seems likely that more lawsuits will crop up by the losers in this process, and Gordon's ruling implies that the state's rules might not be on solid ground.
In any case, Humble says that, in theory, one or more dispensary companies might meet all the requirements and be ready for a DHS inspection by late August, meaning that the state could see its first open dispensary as soon as September 1.
http://blogs.phoenixnewtimes.com/valleyfever/2012/07/medical-marijuana_rule_put_on.php
Will a Crackdown on Medical Marijuana Hit Cannabis Stocks Like SPER, RFMK, MWIP & HEMP
The government is cracking down on California's massive medical marijuana and cannabis industries by targeting Harborside Health Center, which calls itself the largest medical marijuana dispensary in the World, meaning it might be a good time to look at medical marijuana or cannabis stocks like SearchCore (PINK: SRER), Rapid Fire Marketing (PINK: RFMK), MediSwipe (OTC: MWIP) and Marijuana, Inc. (PINK: HEMP) that provide the industry with various services (See my previous article: Does a Crackdown on Medical Marijuana Limit the Growth of Cannabis Stocks CBIS, MDBX & MJNA?). Specifically, Federal prosecutors have filed civil forfeiture actions against Harborside Health Center in Oakland. According to the US attorney for the Northern District of California, the larger the marijuana dispensary operation, the greater the likelihood that the state's medical marijuana laws are being abused (Harborside Health Center says it serves more than 100,000 “patients”). That means there is probably a growth limit for individual medical marijuana dispensaries but what about medical marijuana and cannabis stocks like SearchCore (SRER), Rapid Fire Marketing (RFMK), MediSwipe (MWIP) and Marijuana, Inc. (HEMP) which provide services to such dispensaries?
Starting with SearchCore (PINK: SRER) which was formerly known as General Cannabis, Inc., it combines web properties, digital marketing, custom software and tech based business services for qualified niche markets – namely the medical marijuana and cannabis industries. SearchCore’s major asset would be the website WeedMaps.com, which is apparently well known by marijuana users and its recently launched GrowShops.com for the indoor marijuana growing community. Back in May, SearchCore reported that 1Q2012 revenue rose 78% to $3.6 million while EBITDA came in at $0.9 million verses ($0.1) million and net income (including a pre-tax, non-cash gain) rose from a net loss of $0.1 million to net income of $3.4 million. SearchCore did end the quarter with cash and cash equivalents of $1.4 million, total debt of $7.9 million and non-cash earn-out liability of $15.7 million – meaning its in better shape than many other OTC stocks and certainly any other stock in the medical marijuana or cannabis industry. On Wednesday, SearchCore closed at $0.51 on low trading volume (SRER has a 52 week trading range of $0.38 to $3.40 a share) for a market cap of $42.5 million.
Meanwhile, Rapid Fire Marketing (PINK: RFMK) owns two subsidiaries inBionicCigs.com, a retailer of electronic cigarettes; and Medical Cannabis Management (MCM), a company providing marketing, consulting and management services to the medical cannabis industry in California. Back in April, Rapid Fire Marketing provided an update about its plans to go from a non-reporting OTC company to a fully reporting one along with its plans for growth. Rapid Fire Marketing could use some growth as its reported revenues of $0.05M (2011), $0.06M (2010), $0.05M (2009) and $0.03M (2008) for the past four years; net losses of $1.19M (2011), $4.00M (2010), $0.25M (2009) and $2.91M (2008); and had $0.07M in cash to cover $0.08M in total liabilities. So at least Rapid Fire Marketing is not loaded up on debt but its also probably diluting shareholders to stay afloat. On Wednesday, Rapid Fire Marketing rose 9.09% to $0.0012 (RFMK has a 52 week trading range of up to $0.03 a share) for a market cap of $896,302 but the stock is down 64.7% since the start of the year, down 81.2% over the past year and down 99% since early 2009.
Moving on to MediSwipe (OTC: MWIP), which was formerly known as Cannabis Medical Solutions Inc., it offers a complete line of merchant services for a medical dispensary – presumably a medical marijuana dispensary. However, a quick glance at MediSwipe’s current website does not show mentions of cannabis or medical marijuana but a deeper look does reveal a mention that the chief element of the company’s credit card processing solution is tailored medical marijuana dispensaries. Hence and perhaps MediSwipe is trying to move away from being too closely associated with the medical marijuana industry. On Wednesday, MediSwipe rose 7.69% to $0.0014 for a market cap of $543,252 – less than the value of a Bay Area building housing a medical marijuana dispensary. MediSwipe is also down 63.2% since the start of the year and down 87.8% over the past year.
Finally, Marijuana, Inc. (PINK: HEMP), which has just changed its name to Hemp, Inc., is not involved in the cultivation or marketing of medical marijuana but instead its focused on the peripheral businesses created by the medical marijuana and hemp industries with its major asset being Hemp.com. However, it should be noted that Hemp, Inc. has an unsolicited quote warning on OTCMarkets.com because no firm is making a market in the stock. Nevertheless and on Wednesday, Hemp, Inc. closed at $0.0147 for a market cap of $10.77 million and the stock still has a trading volume of around 100,000 shares per day. Hemp, Inc. is also up 17.6% since the start of the year, up 47% over the past year and up 194% since the start of 2011.
The Bottom Line. Risk adverse investors who are not smoking something would probably want to avoid medical marijuana or cannabis stocks like SearchCore (SRER), Rapid Fire Marketing (RFMK), MediSwipe (MWIP) and Marijuana, Inc. (HEMP) but traders could find a way to get a high off of them.
John Udovich is a paid contributor of the SmallCap Network. John Udovich's personal holdings should be disclosed above. You can also view SmallCap Network's complete disclaimer and disclosure.
http://www.smallcapnetwork.com/Will-a-Crackdown-on-Medical-Marijuana-Hit-Cannabis-Stocks-Like-SPER-RFMK-MWIP-HEMP/s/via/3414/article/view/p/mid/2/id/15/
Tremendous volume lately, MWIP traded almost as many shares as Apple today. Yet, if this stock goes anywhere it's downward.
Now it makes sense:
"We are extremely excited about the opportunity to become a part of MediSwipe and leverage the great technology that 800 Commerce has developed," stated Erick Rodriguez, CEO of SweetMD and MediSwipe President.
I assume this aquisition will be under Mediswipe rather than 800 Commerce. If not could it be another delay in the spin-off?
Maybe sooner? Saw another OTC stock run up about 3000% the other day. It only gets a fraction of the volume MWIP gets. Scary to think what this stock might do.
http://ih.advfn.com/p.php?pid=squote&symbol=MBDE
For a quarterly I think it's 5 days.
NT-10Q filed.
Looks like we'll have to wait a few more days.
A mega-volume day, all time low and an earnings 10-Q due? Not adding up well at all. This might be the first time I post my doubts about the prospects of this company. This is disconcerting to say the least. Almost couldn't log in today. Was that 6.95M trade a buy or a sell?
Not bad but spending more than they take in. The 2012 Q1 financials will be here before you know it, should give us a better picture.
Intuit Cancels Medical Marijuana Consultant’s Merchant Account
Intuit, the financial software giant behind Quicken and Quickbooks, has revoked the merchant services account of Alternative Medical Choices Inc. (AMC), a medical clinic in Portland that offers consultations with doctors for the approval of medicinal cannabis use under Oregon law, claiming that service is an “unacceptable business practice”.
Iva Cunningham, owner of AMC, says her company had been approved for use of Intuit’s Merchant Services. The service allowed the clinic to bill for services by credit or debit card. The clinic had successfully billed for a number of appointments until Intuit informed Mrs. Cunningham they were terminating the account because AMC is “involved with medical marijuana”.
She explained to the Intuit representative that medical cannabis was not sold nor kept at the business.
Intuit responded that the decision to drop AMC was due to “unacceptable businesses practices”, charging that Cunningham had not mentioned medical marijuana in her application for services. She responded that nothing in Intuit’s application required that disclosure and that her service is a “medical consultation” and just one of many medical and educational services the clinic offers.
The Intuit rep continued to explain that they had discovered AMC’s involvement with medical marijuana by looking up the clinic’s web site. She asked why her clinic was being singled out and would they be shutting off the accounts of the 3,000 plus doctors in the state who have legally recommended medical cannabis use.
Intuit responded that they wouldn’t and that AMC’s case is different because medical marijuana is featured on the website. “So if we were to take down all reference to medical marijuana on our website, would you then reinstate our account?” Mrs. Cunningham wondered.
“No, because now we know,” was the Intuit rep’s reply.
Mrs. Cunningham contends that the choice by Intuit to terminate merchant services for a lawfully-operating medical clinic offering cannabis as a medical option is purely a moral prejudice that should not be tolerated. “If Intuit decided homosexuality and abortion were immoral and then terminated services with HIV/AIDS clinics and Planned Parenthood clinics, they’d be blasted for their intolerance,” she suggested.
“Our patients are suffering with cancer, AIDS, multiple sclerosis, neuropathic pain and so on,” she continued. “For many patients it is the best treatment option and for some who are allergic to certain pharmaceuticals like me, it is the only option. We require extensive medical documentation of a legally-qualifying condition before the patient even sees the doctor. We deserve the same business respect as clinics that provide any consulting service, whether it’s weight loss counseling, couples therapy, or legal permission to use a medicinal herb.”
Intuit’s decision to reject medical marijuana referral clinics is just one financial service that has refused to do business with legal businesses that aren’t buying, selling, or growing cannabis.
Like to tell them what you think? Intuit’s Corporate Headquarters are located at 2632 Marine Way, Mountain View, CA 94043. They can be reached by telephone at 650-944-6000.
And best of all there are some dandy alternatives to their software packages.
http://newspirates.com/?p=11832
But it looks like the shares have existed for some time now:
On October 1, 2011, 800 Commerce, Inc, (the Company’s majority owned subsidiary) issued 1,000,000 shares of its common stock to Mr. Friedman, in lieu of salary. The shares were valued at $0.10 per share, the price of a private placement that 800 Commerce, Inc. sold common stock.
On October 1, 2011, 800 Commerce, Inc, (the Company’s majority owned subsidiary) issued 178,000 shares of its common stock to Mr. Hollander, in lieu of salary. The shares were valued at $0.10 per share, the price of a private placement that 800 Commerce, Inc. sold common stock.
How long has the MediSwipe website been down? Seems like days now.
In this instance the dispensaries are themselves to blame. If you're state governed and not for profit the Feds pretty much leave you alone. But setting up shops so close to schools when you should already be aware of the penalties illegal dealers face if they are caught selling near schools is just idiotic.
Yes, I remember this as well:
On ThursdayAugust 11,2011, MediSwipe Inc (OTC:MWIP), a spearheading company which offers reliable merchant payment solutions,Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions and financial products for the medical health care industries,has announced the rectification of its previous release stating the Company’s plan of retiring 26 million common shares to the company’s treasury. The corrected release affirmed that MediSwipe is actually planning to retire 36 million common shares.
This deal will be beneficiary to the company as well as the shareholders as it would decrease the number of outstanding shares and lessen dilution.This retirement which constitutes ten percent of the prevailing outstanding shares is a pre-planned deal and brought to effect by a recent resolution of the board.
B. Michael Friedman, CEO of MediSwipe Inc. exclaimed that the company has no intention of issuing any stock or save for any transaction neither does the board has to effect any merger or acquisition to elevate the value of the company.the only plans that the company is intending to executive are to file their 10 Q on time by the 15th of this month,which is completed now, the completion of S-1 spin-off of our subsidiary, 800 Commerce, by the end of September and once the holdings of the shareholders are effective they would be offered a dividend share each.An updation of the implementation of this process will be provided to the shareholders.
http://www.headlineotc.com/20110812488/otc-headlines/rectified-replacement-mediswipe-inc-plans-to-retire-36-million-shares-to-treasury-lowering-outstanding-shares-by-almost-10/
Looks like Breakwater lost, but the township may not have the final word:
Upper Freehold moves to block medical marijuana growing facility In New Jersey's long road to becoming a medical marijuana state, it turns out that passing the Compassionate Use Medical Marijuana Act was just the beginning. Two years later, the controversy has moved from the Statehouse in Trenton into the halls of municipal complexes, where approved medical marijuana treatment centers have encountered local resistance. On Thursday, the five-person township committee for the small, rural town of Upper Freehold, in Monmouth County, gathered at Stonebridge Middle School, in Allentown, to enact a local law that would effectively ban a proposed medical marijuana growing center in their town. The law, which passed unanimously, prevents local approval for any applications that explicitly violate federal law -- which, of course, includes growing marijuana. An overwhelming majority of residents who turned out for Thursday night's meeting were there to express, in no uncertain terms, their desire to see the proposed facility, Breakwater Alternative Treatment Center, run out of town.
UPPER FREEHOLD — Officials unanimously passed an ordinance tonight tailored to block the construction of a pot-growing greenhouse in the community, dealing another setback to the state’s medical marijuana program.
The measure approved by the township committee prohibits the town from considering any applications, such as zoning permits, which violate federal law.
Even though some states are creating medical marijuana dispensaries and cultivation sites, the substance is still illegal by the federal law. Federal officials have, for the most part, ignored the clinics, conceding their oversight to the states.
Tonight’s result came as no surprise to either side of the debate in Upper Freehold. The vote also creates yet one more hurdle in the state’s efforts to get the medical marijuana program going almost two years after it was signed into law.
The township committee voted after a robust amount of public input at Stone Bridge Middle School in nearby Allentown. About 75 people filled the auditorium to speak about the plans of Breakwater Alternative Treatment Center, one of the state’s six proposed medical marijuana centers.
“We have a big, 800-pound gorilla that no one wants to tackle,” said Mayor LoriSue Mount just before giving her vote. “And that’s the New Jersey state government. They’re the ones that licensed you. They’re the ones that have created this fiasco. Take your argument to them. Take your threats of lawsuits to them.”
Mount’s comments weren’t the only heated ones. Most residents spoke in opposition of Breakwater’s plans, and the vote was greeted with a partial standing ovation.
“You need to leave,” said Heather Oehlmann, 35, an Upper Freehold resident, directing her speech to Breakwater officials. “No means no.”
Jon Fisher, one of the founders of Breakwater, pleaded with the township committee to “take a step back.” In Wednesday’s paper, The Star-Ledger reported that Breakwater officials are considering legal action to overturn the ordinance.
“I’m not saying you’re wrong … what I’m saying is, don’t be hasty,” Fisher said. “Meet with us. Talk with us.”
After the vote, Fisher said he had gotten word from health department officials today to “take whatever action you need” to move forward with development plans. He said he had not yet decided if Breakwater would file suit, but said he was disappointed because it seemed like town officials had their minds made up before the meeting.
Opponents of the construction plans have circulated a petition in the past weeks, garnering nearly 900 signatures. Most of the questions were about the security of the greenhouse. Upper Freehold has no local police force and relies on State Police , and that concern was brought up several times.
pot-marijuana.JPGDavid McNew/Getty ImagesVarious types of marijuana are on display at a nonprofit cooperative medical marijuana dispensary, in October 2009, in Los Angeles, California. Upper Freehold's council tonight passed an ordinance intended to block the construction of a pot-growing greenhouse in the community, another setback to the state's fledgling medical marijuana program.
One of the leaders of the opposition movement, Kim Lima, 40, hinted that the townspeople were ready for a long battle, even if it means a court fight.
“Most of us in our core group that are opposing you, we’re marathoners,” she said. “If you want a marathon, we’re ready.”
There were a few voices of dissent in the crowd. Elliot Wiesner, an Upper Freehold resident, called the ordinance a “knee-jerk reaction.” Others talked about sick relatives who benefited from medical marijuana.
In the original application to the state, Breakwater officials said a site in Manalapan was their planned dispensary, which is where patients would actually go to get their marijuana. Manalapan Mayor Andrew Lucas said, as far as he knows, the plans are still in place, but he added that site has not gone through the zoning approval process.
© 2011 NJ.com. All rights reserved.
http://blog.nj.com/ledgerupdates_impact/print.html?entry=/2011/12/upper_freehold_council_blocks.html
Unfortunately, we've run into some opposition here in New Jersey:
Upper Freehold prepares for showdown over proposed N.J. medical marijuana greenhouse
Published: Thursday, December 15, 2011, 6:00 AM
Updated: Thursday, December 15, 2011, 12:33 PM
Amy Brittain/The Star-Ledger By Amy Brittain/The Star-Ledger
Upper Freehold residents and politicians will face off tonight over whether to approve an ordinance deisgned to thwart plans to a establish a greenhouse in the township.
UPPER FREEHOLD — Residents here describe their township as a community with lots of horses and green pastures, where turkey vultures take care of the roadkill and residents know to watch out for cyclists who flock to the friendly roads.
Town talk usually centers on the kids’ sporting events, weekend plans and what’s going on at the high school.
But now the residents have a new topic — and it’s a hot one.
The small township has become the unlikely epicenter of a showdown over medical marijuana. Its residents and politicians are mounting a fierce challenge to a proposal to open a marijuana cultivation site in their community of about 7,000 residents.
In a meeting scheduled for tonight, the township committee is expected to approve an ordinance designed to thwart plans by Breakwater Alternative Treatment Center, one of the state’s six planned medical marijuana centers, to establish a greenhouse in Upper Freehold to grow the pot it will be selling in a dispensary planned for Manalapan.
The ordinance would prohibit local approval for any applications, such as zoning permits, that violate federal law. After a period for public comment at the meeting, it is expected to pass unanimously, making it township law. In most states that allow medical marijuana, it’s considered unlikely that federal authorities would take action against the clinics, even though they violate federal law. But Upper Freehold is hanging its argument on the chance that such federal action could happen.
"If it’s against the law, it’s against the law," said Mayor LoriSue Mount, who said she’s hoping to talk with Gov. Chris Christie about her concerns. She says she is worried the state program could leave municipalities vulnerable against federal action.
But tonight’s vote may not be the end of it. Breakwater has tossed around the idea of a lawsuit that would contend that the municipality overstepped its authority by enacting law that goes against the state’s Compassionate Use Medical Marijuana Act.
For the state’s medical marijuana program, now nearly two years in the making, the litigation would be the latest headache in a series of delays, problems and complications. Of the six proposed centers, the majority are still without finalized locations.
Jon Fisher, one of Breakwater’s founders, said initial conversations about a cultivation site with Upper Freehold officials were cordial but that was before "everyone got wound up."
Responding to Breakwater’s hints at incoming litigation, Mount said it’s "unfortunate" that Breakwater officials have had a recent "change of tone."
"Listen, this ordinance leaves me no choice," said Fisher, who is an attorney but said he would seek outside counsel to handle the potential case. "I either leave or sue … The last thing I want to do is enter into a lawsuit."
Mount said her major concern is the cost of a legal fight.
"We don’t have the money to be the guinea pig on this," she said, adding that taxpayers will have to pick up the tab for legal fees, which have already amounted to nearly $10,000.
She brushed off the merits of a potential lawsuit, saying, "Anybody can sue anybody these days."
MISPERCEPTIONS
After word got out that Breakwater had submitted five applications for zoning approval of potential growing sites in Upper Freehold, the opposition steadily grew. Fliers have been posted in doctor’s offices, online message boards are dominated by the discussion and a petition of opposition has circulated, garnering nearly 900 signatures.
Some residents opposed to Breakwater’s plans say they’ve been unfairly portrayed by advocates and local media as fear-mongering folks who lack compassion, the type of people who would carry pitchforks and run the outsiders out of town.
"It’s obviously a very emotional situation. There’s a lot of opinion," said resident Chris DuBois, 41. "All we’re saying is, there’s better places to do this. When you start questioning someone’s compassion and selflessness, that’s kind of going over the line a little bit."
DuBois said he can’t speak for everybody in the township but estimates that the majority are not against medical marijuana.
"We’re just not happy about the way this was thrown into our lap by the state without any direction," he said.
Another resident, personal trainer Larry Chiaravallo, 55, also questioned the lack of guidance, saying residents have been doing their own research about how the state’s program has failed to get off the ground.
"Right now it seems like: Let’s just throw stuff at the wall and see if it sticks," said Chiaravallo.
POINTS OF CONTENTION
Medical marijuana's future in New Jersey With so little information about how New Jersey's program will work, The Star-Ledger visited two states with very different cannabis laws -- New Mexico, which the New Jersey Legislature looks to as a model of a responsible medical marijuana program, and Colorado, which has lax laws and is seen by some as a state that has lost control. (Video by John Munson / The Star-Ledger)
Among the township’s concerns: security for the site, the reliance on State Police in the absence of a local police force, the visibility of the greenhouse along major thoroughfares and the oversight of the state’s program.
Fisher said much misinformation has been spread.
For instance, the group is seeking only one cultivation site, but some residents assume they are planning five locations because five zoning proposals were submitted.
Other frustrations include security plans and the aesthetics of the building, Fisher said.
"There’s this belief that we’re planning on building something that looks like a prison and is an eyesore for the community," he said. "We’re hoping to build something as inconspicuous as possible. Our hope is that someone would drive by and not know we’re there."
Fisher also said he’s been surprised about the state’s "hands-off" approach to the volatile situation.
The spokeswoman for the state health department, Donna Leusner, did not answer specific questions about the Upper Freehold situation but said it’s the responsibility of the centers to work with local officials.
"As with all applications for permits or licenses before the department, we defer to local governance," said Leusner. "By way of familiar example, when a hospital or surgery center applies to the department for a license to operate, the department does not attend municipal meetings on its behalf."
Breakwater’s separate dispensary, which is where patients would actually go to get their marijuana, is still planned for Manalapan, although the center has not yet met local zoning approval there either, Mayor Andrew Lucas said Wednesday.
© 2011 NJ.com. All rights reserved.
http://www.nj.com/news/index.ssf/2011/12/upper_freehold_prepares_for_sh.html
It looks like $.10 per transaction plus a monthly fee:
"Our revenue model for the system will involve a monthly gateway fee to merchants and a transaction fee of approximately .10 cents each time a purchase takes place.".
MediSwipe Inc. Announces Launch of Mobile Payment and Loyalty Solution
Mobile Payment and Loyalty Application Now Available to Download at iTunes, Android and Limited Websites
LOS ANGELES, Dec 12, 2011 (GlobeNewswire via COMTEX) -- MediSwipe Inc. ( www.MediSwipe.com ) MWIP -2.86% , a merchant payment solutions and financial products company for the medical health care industry, and its wholly owned subsidiary 800 Commerce Inc. ( www.800Commerce.com ), a leading enabler and turnkey e-commerce solution provider including mobile payment solutions, today announced that the Company has launched sales of its mobile payment and loyalty solution for Rx Pharmacies, wellness centers and retail merchants thoughout selected areas of the United States. Through its previously announced agreement with SparkBase and the use of the mobile payment PayCloud application, MediSwipe clients will now be migrated to the new mobile payment system offering a next generation form of payment for prescriptions, goods and services as an alternative to traditional credit card purchases and cash transactions.
Once the free PayCloud application is downloaded via the iTunes or Android stores online by the customer, they will then have access to all merchant locations via a geographical locator and map, showing all participating merchants on the system and network. The client or patient will need to register with a specific location, receive a branded loyalty and payment card and fund the card under traditional means. Once enrolled, after the first transaction, the customer may use a mobile smart phone device for transactions going forward using a mobile "e-wallet", and have complete access to all transactions going forward through our white label portal.
From the merchant side, for those seeking to enroll in the program, a specialized sensor is placed on any existing credit card terminal. Once the PayCloud software is downloaded to the terminal and the merchant is enrolled in our network, the location will appear in the geographic locator on the PayCloud application to thousands of new potential clients. Our white label branded card system allows for easy enrollment of existing and new clients extending the merchant brand with your logo on the card. Further, through a special audio transmission between the smart phone and terminal, customers may use their mobile phone to complete financial transactions without the use of any card present, and allowing the merchant to offer loyalty push programs to the mobile users similar to Groupon or Living Social for goods and services once enrolled in the network, creating store loyalty and building a strong customer database.
"We are anticipating tremendous response from this mobile payment and loyalty solution through our partnership with PayCloud. Already we are in negotiations to move thousands of patients for several pharmacies onto the system. We are also in the process of migrating our existing client base onto this sytem after the first of the year. We believe this next generation form of payment will allow MediSwipe to stay ahead of the technology curve and deal with the limitation issues presently involved with traditional credit card and cash transactions. Our revenue model for the system will involve a monthly gateway fee to merchants and a transaction fee of approximately .10 cents each time a purchase takes place. Those merchants interested in more information on the mobile payment and loyalty solution for their business should contact us at 615.252.4099," stated Michael Friedman, CEO of MediSwipe Inc.
http://www.marketwatch.com/story/mediswipe-inc-announces-launch-of-mobile-payment-and-loyalty-solution-to-rx-pharmacies-wellness-centers-and-retail-merchants-2011-12-12
Yeah, you're right. Looks like a Google problem. Sorry for the false alarm.
Not trading as MWIP anymore?
On the pink sheets now. This could be good news (the S-1 is coming) or very bad news. Listed as PRIVATE on Google finance.
http://www.google.com/finance?q=PINK:MWIP
I hope everyone has the shares they wanted as the option to accumulate more has just been yanked out from underneath our feet.