Agritek Holdings Inc. (AGTK)

[McBisco]

Company to Immediately Expand Operations in California as Proposition 19 Vote Approaches

http://finance.yahoo.com/news/Cannabis-Medical-Solutions-pz-2722517832.html?x=0&.v=1

LOS ANGELES, Oct. 4, 2010 (GLOBE NEWSWIRE) -- Cannabis Medical Solutions Inc. (http://www.cannabismedsolutions.com/) (OTCBB:CMSI - News), a leading company specializing in merchant payment solutions and products for the medical marijuana industry, today announced on Thursday of last week, California Governor Arnold Schwarzenegger (R) signed into law, a bill that decriminalizes the possession of up to one ounce of marijuana. The bill reduces simple possession from a misdemeanor to an infraction. Under the bill signed last week, SB 1449, by Sen. Mark Leno (D-San Francisco), marijuana possession will be treated like a traffic ticket. The fine will remain at one-hundred dollars, and there will be no arrest record. The law goes into effect January 1, 2011.

"Gov. Schwarzenegger deserves credit for sparing the state's taxpayers the cost of prosecuting minor pot offenders," said California NORML director Dale Gieringer. "Californians increasingly recognize that the war on marijuana is a waste of law enforcement resources."

"This act is further affirmation of CMSI's business strategy within this sector as a provider of financial security products on behalf of the medical marijuana industry, eliminating cash only transactions often leading to theft and fraud. We will continue to offer financial software applications that prove these medical transactions can be properly tracked, licensed and can create taxable income for states with approved legislation, while paving the way for further approvals in additional states. We expect our business model to eventually expand into all areas within the medical marijuana sector not only including financial security applications, but ownership, infused beverages, edibles and nutraceuticals through our client dispensary networks in California, Colorado and Montana,"stated Michael Friedman for CMSI.