Difference between revisions of "Medical Marijuana, Inc."

Latest revision as of 19:16, 5 February 2015

Medical Marijuana, Inc. (OTC: MJNA), was founded in March 2009 for the purpose of providing business solutions and partnerships to the medical marijuana and related consumer products industry. The company was founded by Bruce Perlowin, who also served as Chief Executive Officer until 2011. Medical Marijuana, Inc. was the first public company to enter the legalized, medical marijuana business.

Medical Marijuana, Inc. serves as an investment partner in several related ventures and subsidiaries, including KannaLife, Real Scientific Hemp Oil (RSHO), Cibaderm, Cibdex, Dixie Botanicals, and through their Red Dice Holdings partnership, Dixie Elixirs.

The company was named by Money magazine as one of the largest in the medical marijuana and hemp field. It was also featured, along with Perlowin, on a 2009 CNBC special program entitled Marijuana Inc.

Management

Bruce Perlowin served as CEO until 2011. The current Chief Operating Officer and Chairman is Michelle Sides, and President is Tripp Keber. Keber is also the CEO of Dixie Elixirs, which operates dispensaries and markets consumer-grade products (beverages, baked goods, etc.) in Colorado, where recreational marijuana use has been decriminalized at the state level.

Collectives/co-ops

Shortly after going public, Medical Marijuana, Inc. hired agents to market their solutions to Collective/Co-ops in California. In the state of California, medical marijuana dispensaries are legally known as Collective/Co-ops. The company began working with California Collective/Co-ops to develop a Stored Value system. This system makes use of closed-loop debit cards, called Stored Value Cards. The customer tenders cash to the dispensary clerk who loads the card for the customer using their point of sale, which will also recognize the dispensary location, as well as tax rates for the appropriate government agencies.