Replies to post #136513 on Medical Marijuana Inc (MJNA)

[@LaughinPaulRyan]

... Medical Marijuana, Inc. ...

At MJNA's inception, its focus was on providing educational seminars on medical marijuana and supporting the industry through technology, with its patent pending tax remittance card and compliance tracking software. Today the company has made significant advancements within a challenging industry.  In the beginning MJNA's market was made up of mom and pop dispensaries, collectives and trade shows, which were seen as the "hot gold rushes". Like many rapidly emerging industries, it seemed as if every ancillary business was a good investment opportunity. Today however, MJNA has honed its focus on several aspects of the medicinal and industrial markets and has laid a solid foundation for its growth worldwide.

One of the most exciting aspects of this industry is the fact that it already exists. This is not a new industry, but one that has been around for thousands of years, we have taken the time to understand the applications of marijuana and hemp, from its medical properties to its industrial applications, from legal process to political hurdles, and have chosen a very straight forward approach to investing in this industry. We are acquiring and developing businesses that already exist and support the industry. We do not see the negative headlines on marijuana dispensaries as a deterrent to investing in legally produced hemp products. We actually see this constant negative as a positive for MJNA's growth, because it deters others from looking past the surface of the industry and allows MJNA to purchase these cash flow positive businesses without real competition. The market is fractured, an example is that there is over five thousand hydroponics stores worldwide and no major chain, there are millions of patients and little to no services, there are only a hand full of builders using industrial hemp to build, yet it is the most sustainable ecofriendly building material, the largest in the industry currently only does four and a half million dollars per year. What all of these businesses have in common is the fact that hemp is used, its growing in demand and there is not a centralized vehicle in which the industry can grow, we believe that MJNA is that vehicle. - source

"The biggest issue that you're going to face is the conflict between federal law and state law. Even though medical cannabis is legal under Illinois laws now, cultivating and distributing it is completely illegal under federal law," said DeAngelo of the Harborside Health Center.DeAngelo also says that the feds typically go easier on states with tight regulations, and Illinois will be heavily regulated.Ed Rodriguez, who's thinking of getting into some facet of the marijuana business, says based on what he heard today, it won't be easy."It's going to be a lot of networking. A lot of networking. You're not going to be able to come into this on your own," said Rodriguez.

DeAngelo said his dispensary is now scrambling to find another solution and that the move will create a host of challenges. Harborside used armored trucks to transport money twice a day, mainly to pay vendors and suppliers as well as the city and state, which take a share of its revenues.“The federal government appears willing to do anything that will turn this inherently safe plant into something dangerous, no matter the impact on public health or safety,” DeAngelo said. “In 2011 they closed our bank accounts, which forced us to handle and store cash on site. Now they have denied us any secure way to transport that cash to those whom we owe money—like the City of Oakland and the California Board of Equalization. The reduction in security caused by this federal action endangers not only our patients and staff, it endangers the entire public — including state and city employees.”The National Cannabis Industry Association, a trade group for marijuana businesses, said it is aware of several dispensaries in Colorado that also had their armored car services suspended, “reportedly following a visit from the DEA and pressure from the agency to discontinue services.”Aaron Smith, NCIA’s executive director, echoed DeAngelo’s concerns over increased security risks.“This is a major threat to public safety intentionally engineered by the administration,” Smith said in a statement. “This reckless and shameful policy not only puts the lives of dispensary operators and patients at risk, it threatens the safety of thousands of employees, contractors, and state officials who receive payments from our industry every day.” - source

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