About Cannabis Medical Solutions;EXCERPT; MWIP recently entered the medical marijuana space as a prominent player by offering its pre-paid and ID card program with state licensed medical marijuana dispensaries and collectives in California, Colorado, New Mexico, Montana and New Jersey.
In an effort to keep these collectives within the guidelines of CA Proposition 215 and SB 420, the CMSI financial services including credit card processing, financial secure payment systems, ATM's, Insurance and pre-paid debit/stored value ID card will offer a unique cash alternatives to these regulated dispensaries.
Under new legal guidelines to be issued by the Obama administration, authorities no longer seek prosecution of medical marijuana users or suppliers as long as they conform to state laws.
MWIP presently processes transactions for over ten medical marijuana dispensaries and is adding approximately two additional locations per week.
Gross processing volume from medical marijuana dispensaries is approximately exceeding 10M annually and growing.
Fourteen states presently allow some use of marijuana for medical purposes. California is unique among those for the widespread presence of dispensaries - businesses that market and sell marijuana.
Presently, there are an estimated 300,000 to 400,000 medical marijuana patients in California and the figure is rapidly growing. There are also about 700 medical marijuana dispensaries now operating in California that openly distribute the drug.
In Colorado, there are approximately 60,000 registered medical marijuana patients spending an average of $100.00 a week on medication. Cash generated from sales in Colorado alone now exceed $6,000,000 a week. CMSI expects to receive 3-5% of these transactions over the next 90 days.
MWIP has also signed an agreement to acquire all licenses in Colorado necessary for the operation of private labeled dispensaries both bricks and mortar and online delivery service for medical marijuana within the state. CMSI expects to open its' first physical dispensary in May 2010.
MWIP is the only company presently handling this sector of business with respect to the payment processing and loyalty card. Medical Marijuana Inc. (OTC: MJNA.PK) has a POS system but it does not have the loyalty and payroll card for suppliers that CMIB offer.
MWIP's pre-paid/ID card may be loaded through a PCI compliant gateway, Internet, POS system or PayPal. The card could be used as a member's photo ID which also contains the member's name, medical ID number and membership expiration date.
Each card MWIP issued will generate $4.00 to $10.00 per patient each month. The Company expects to have at least 30,000 patients by the end of June 2010. This will translate to $120,000 to $300,000 in additional monthly revenues for MWIP.
Projected Revenues
HTTP://800Commerce.com will provide packages for business starting at $149 per month, which will include credit card processing, a corporate website, web hosting and emails, and online marketing. This will provide revenues to CMIB through the recurring charges of $149.00 a month per each client contracted for. The Company's goal is to have at least one thousand clients contracted with the portal in its first year providing over $1M in revenues.
EXCERPTS; Share Structure / PAR VALUE $0.01 --- QB FILER OTC Market Tier OTCQB [-chart]www.otcmarkets.com/content/doc/otcm/tier/logo/small/10.png[/chart]
MWIP Security Details Share Structure Market Value1 $931,289 a/o May 29, 2012 Shares Outstanding 388,036,925 a/o May 11, 2012 oops it is less? 1,704,744 less? wonder why it is less o/s Float Not Available Authorized Shares 500,000,000 a/o May 10, 2010 Par Value 0.01
MediSwipe Inc. (http://www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry, today announced that the Company has signed a binding agreement to acquire all the assets and outstanding common stock of a unique telemedicine and online healthcare platform portal SweetMD.com (www.SweetMD.com). The transaction is expected to be completed within the next 30 days subject to the customary legal and closing conditions.
About MediSwipe Inc. MediSwipe Inc. (www.MediSwipe.com) 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
About SweetMD.com SweetMD (www.SweetMD.com) has developed a program to bring affordable healthcare services to individuals, families and small businesses. Our Membership is a great alternative to costly health insurance for businesses, uninsured and insured individuals and families and provides great savings