$CANA General Cannabis Aims to Improve Medical Marijuana Policy
Date: December 21, 2010 7:46 PM Publisher: Brittney Barrett Categories: uscannibis, World Markets Tags: (OTCPK:CANA) equities, general cannabis, marijuana policy, medical marijuana, the equities group
Discrepancies in medical marijuana policy have been causing uncertainty since 1996, when the herb was legalized for medical use in California. 13 years later, pot dispensaries across the 15 states that have approved the use of Medical Marijuana are still struggling with establishing a solid legal infrastructure by which they can abide. Washington is the latest state to capture media attention for this issue. Washington has the largest population of medical marijuana card holders in the country and yet there is still a question of the rules that can be applied to dispensaries by the state. The Washington Department of Revenue has launched a statewide effort to collect sales tax from medical marijuana dispensaries but prosecutors around the state have differing perspectives on whether or not this is fair.
The state Health Department in Washington maintains that the marijuana dispensaries are of questionable legality while the revenue department seeking taxes from the dispensaries declare making this determination is not their responsibility, only collecting revenue is.
For a pot dispensary, attempting to exist within the law is a difficult task when not even agencies of the law are in agreement on its status. The fragmented nature of the medical marijuana industry is also at fault for this, opening itself up to be evaluated on an individual rather than collective basis. The combination of these factors indicates an overall lack of communication both between governments and within the medical marijuana industry itself.
Estimated between $45bln and $110bln the medical marijuana industry is too large and too lucrative to continue to exist in limbo. Greater communication between the different levels of government as well as between dispensaries and government needs to take place. The latest confusion in Washington only provides more evidence in favor of this.
General Cannabis (CANA), is one of the first publicly traded companies to support the medical marijuana market through management services, internet verticals, financial services, lobbying and policy and begin the effort to increase communication. Their objective is to demonstrate to government that cannabis can be mutually beneficial, something they hope to achieve through lobbying and public policy organization. From a management stand point they would begin a conversation with government that would insure that any dispensary or medical office under their leadership was within the law, eliminating situations like the one we’re seeing in Washington. Initiating a relationship and a line of communication with authorities would legitimize and help to streamline an industry that is too established for ambiguity.
The capital that medical marijuana could yield for government, local economies and larger companies is enormous and General Cannabis is laboring to making that a reality.
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