Welcome!

Agile Computing Authors: Martin Verwijmeren, Yeshim Deniz, Elizabeth White, XebiaLabs Blog, PagerDuty Blog

News Feed Item

Medical Marijuana Inc. Anticipates Increased Opportunities For Its Portfolio Company with Colorado Voters Passage of Amendment 64, Becoming First State to Legalize Marijuana for Recreational Use

SAN DIEGO, Nov. 7, 2012 /PRNewswire/ -- Medical Marijuana Inc. (OTC: MJNA), a leading hemp industry innovator, commends the millions of Colorado voters who helped pass Amendment 64 by about 66 percent in the November 6 elections. The positive vote, which crossed partisan lines, marked history by making Colorado the first state in the U.S. to remove prohibition and legalize marijuana for recreational use for adults over 21. The decision will allow large-scale commercial production and sales, is expected to bring both jobs and significant tax revenue to the state economy. The regulation will be overseen by Colorado's Department of Revenue.

According to The Denver Post, "The amendment will allow those 21 and older to purchase up to one ounce of the drug at specially regulated retail stores. Possession would be legal but not public use. Adults could grow up to six marijuana plants at home. It sets up a direct challenge to federal drug law, which regulates it as an illegal substance. Federal authorities have not said how they will respond."

State criminal penalties for possessing the drug won't disappear until the election is certified, which could take up to two months, and questions about regulation and enforcement still need to be worked out, according to The Denver Post, which also states that the first recreational stores would be slated to open in January 2014 and would be separate from existing medical marijuana dispensaries.

In addition to Amendment 64 passing, voters in Fort Collins, CO approved an ordinance that would allow medical marijuana businesses to once again operate in the city. The vote came a year after a city election that shut down the businesses. The ordinance allows dispensaries to reopen, but it includes some restrictions, such as capping the number of dispensaries at one per 500 registered medical marijuana patients, according to The Coloradoan. Additionally, voters in Berthoud showed support Tuesday for Herb's Medicinals, the town's only medical marijuana dispensary, that would have been forced to close its doors in ballot Question 300 had they not opposed the measure and successfully won.

These winning votes in Colorado, along with other successful initiatives across the country, have clearly set a precedent for the medical marijuana industry. Months before the November 6 elections, CNBC had already reported that pending marijuana legislative decisions "could set up a State vs. Federal debate similar to President Obama's health care bill, which made it all the way to the Supreme Court."  The winning vote in Colorado now positions medical marijuana even more so as a critical issue facing the country. It also encourages additional states pursuing legalization efforts to forge ahead with their propositions. "Marijuana legalization has become an issue that defies the stereotypes of party lines, garnering the support of key progressives and conservatives in Colorado, Washington and Oregon," said a November 6 Huffington Post story. "Colorado's Amendment 64 would mark a true watershed for the fractious and often hapless legalization movement, a motley crew of potheads, civil libertarians, and billionaires that's been set back many times before but has the wind of public opinion at its back," according to The Atlantic's Oct. 9 story on legalization.

The decision to pass Amendment 64 in Colorado opens the doors for a significant customer base expansion of MJNA portfolio companies such as Red Dice Holdings, parent company of the Dixie Elixirs & Edibles brand, which is already known as the leading manufacturer of edibles supplying most of the 500 plus dispensaries in Colorado. According to the Associated Press, analysts project that that tax revenue in CO could generate somewhere between $5 million and $22 million a year in the state. An economist whose study was funded by a pro-pot group projects as much as a $60 million boost by 2017.

"We are thrilled that Amendment 64 has passed in Colorado and that voters in Fort Collins successfully lifted their medical marijuana ban after nearly a year. We eagerly await the opportunity to open additional manufacturing facilities, as well as stores, throughout the state," said Tripp Keber, President of Red Dice Holdings. "Studies have indicated that our market in Colorado will increase from 110,000 patients to over one million customers."

It is important to note that although this legislative victory is a milestone for all industrial hemp and medical marijuana advocates, the outcome will not impact the future corporate strategy of MJNA. As a company, MJNA continues to primarily focus on hemp oil, derived from seed and stalk, with a strong concentration on the cannabinoid, CBD (cannabidiol).

"This decision marks quite an exciting achievement for the medical marijuana industry. For MJNA, the passing of Amendment 64 and lifting bans in Fort Collins and Berthoud will undoubtedly open new avenues and licensing partnerships for our portfolio companies, as well as bring awareness and acceptance to the industry in general. That is surely a benefit to us as we continue to focus our main attention on branding our Hemp-based products," says Ted Caligiuri, President and CEO of Medical Marijuana, Inc.

About Medical Marijuana,Inc.

Our mission is to be the premier hemp industry innovators, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value.

Medical Marijuana Inc. does not grow, sell or distribute any substances that violate United States Law or the controlled substance act.

For more information, please visit the company's website at: www.MedicalMarijuanaInc.com

FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration (FDA). These products and statements are not intended to diagnose, treat, cure, or prevent any disease.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.

Corporate Contact:

Medical Marijuana, Inc.
Toll Free: 888-OTC-MJNA (888-682-6562)
www.medicalmarijuanainc.com
www.facebook.com/mjnainc

Investor Relations Contact:
Stuart T. Smith
SmallCapVoice.Com, Inc.
P. 512-267-2430
F. 512-267-2530
Email: [email protected]
Skype: SmallCapVoice.com

SOURCE Medical Marijuana Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buyers...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, will posit that disruption is inevitable for c...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that SD Times | BZ Media has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and commercial UAV markets.
Now that the world has connected “things,” we need to build these devices as truly intelligent in order to create instantaneous and precise results. This means you have to do as much of the processing at the point of entry as you can: at the edge. The killer use cases for IoT are becoming manifest through AI engines on edge devices. An autonomous car has this dual edge/cloud analytics model, producing precise, real-time results. In his session at @ThingsExpo, John Crupi, Vice President and Eng...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...