INDUSTRY NEWS

Featured Sources

FINRA Warns Investors of Marijuana Stock Scams

August 20, 2013 WASHINGTON—The Financial Industry Regulatory Authority (FINRA) issued a new Investor Alert called Marijuana Stock Scams to warn investors about potential related scams. Medical marijuana is legal in almost 20 states, and recreational use of the drug was recently legalized in two states. As a result, the cannabis business has been getting a lot of attention – including the attention of scammers. Like many investment scams, pitches for marijuana stocks may arrive in a variety of ways – from faxes to email or text message invitations, to webinars, infomercials, tweets or blog posts.

 

The con artists behind marijuana stock scams may try to entice investors with optimistic and potentially false and misleading information that in turn creates unwarranted demand for shares of small, thinly traded companies that often have little or no history of financial success. The scammers behind these “pump and dump” scams can then sell off their shares, leaving investors with worthless stock.

 

“Investors considering investing in a heavily touted, thinly traded company should question why a total stranger would tell them about a really great investment opportunity. In reality, there is likely no true opportunity. Investors should always find out whether the promoter is licensed using FINRA BrokerCheck, and check out the investment using the Securities and Exchange Commission’s EDGAR database of company filings,” said Gerri Walsh, FINRA’s Senior Vice President for Investor Education.

 

One company highlighted in Marijuana Stock Scams was touted on the Internet through the use of sponsored links, investment profiles and spam email, including one promotional piece claiming the stock “could double its price SOON.” Yet the company’s balance sheet showed only losses, and the company stated elsewhere that it was only beginning to formulate a business plan.

 

Marijuana Stock Scams also includes smart tips to help investors spot and avoid these potential scams.

 

FINRA is the largest non-governmental regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms, writing and enforcing rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and registered firms. For more information, please visit our website at www.finra.org.

  

Contact:

Nancy Condon (202) 728-8379

Read the FINRA Marijuana Stock Scams Alert and more FINRA Fraud and Scam alerts.

Read More

CNBC; ‘High’ taxes

Washington will tax pot anywhere from 25-50 percent at the production and processor level, another 25 percent at retail. CNBC’s Jane Wells reports Washington says it could raise up to $2 billion in pot taxes over 5 years.
Tags: Video

Read More

ProMap Acquires Advanced Cannabis Solutions

COLORADO SPRINGS, CO, Aug 15, 2013 (Marketwired via COMTEX) — Promap Corporation (OTCBB: PMAP) announced today the acquisition of Advanced Cannabis Solutions, Inc. (ACS), a privately owned Colorado-based company that plans to become a national leader in the rapidly emerging, regulated marijuana industry.

The combined companies will operate as Advanced Cannabis Solutions and will soon implement a name, management and stock trading symbol change to reflect the new direction and business plan of the company.

As part of the first phase of the ACS business plan, the Company will develop, build, own, and lease growing facilities to licensed marijuana growers and dispensary owners for their operations.

ACS plans to provide cutting edge facilities, solutions and services to the fast-growing cannabis industry in Colorado, with the goal of enhancing and improving current yields and quality. ACS will not grow or dispense marijuana, pursuant to requirements under state and federal law.

“Advanced Cannabis Solutions plans to to become a leader in what many believe will be a multi-billion dollar industry,” observed ACS president Robert Frichtel. “As a public company, ACS will have access to the capital markets necessary to fund the company’s aggressive growth plans and we believe the opportunities are significant.”

Most industry experts believe the legal marijuana industry is poised to experience dynamic expansion. Twenty states plus the District of Columbia have now approved medical marijuana and eight others are expected to follow. Experts predict that the current growth trend will accelerate and that the regulated, domestic cannabis market could grow from $1.5 billion to $20 billion over the next five years.

The ACS management team and its advisors have gained invaluable first-hand experience in virtually all areas of the cannabis business. Management members have been working with Colorado’s medical marijuana industry for several years.

Colorado voters first approved medical marijuana in 2000 and the state has been recognized as a national leader in the industry for over a decade. Under the provisions of recently passed Amendment 64, the Colorado market will be expanded in January 2014 to include adult, non-medical use.

Marijuana revenues in Colorado are expected to triple in 2014, growing from $200 million to over $600 million, according to a study conducted by Colorado State University. The study did not include the potential sales from the expected 65 million tourists who will visit the state and may purchase marijuana.

Many experts predict that other states will follow Colorado and Washington in enacting legislation or approving ballot measures that expand the permitted use of cannabis.

Mr. Frichtel added that “We believe the state of Colorado will serve as a model in the regulated marijuana industry for other states going forward, and we plan to capitalize on this unique growth opportunity. Our goal is to build ACS into a national industry leader.”

For further information, please contact Robert Frichtel, President ACS at (719)-590-1414 or [email protected].

Tags: 

Read More

MediSwipe Inc. Announces Exclusive Agreement for Distribution of Hemp Based Energy Drink “Chillo” and C+ Swiss Tea to Canada

Company Unveils New Corporate Website at www.MediSwipe.com in Preparation of Independent Sales and Marketing Network for Hemp Based Products

LOS ANGELES, CA–(Marketwired – August 09, 2013) – MediSwipe Inc. (www.MediSwipe.com) (OTCQB: MWIP), a patient security solutions and software development company for the medicinal marijuana and health care industry today announced that the Company has expanded the exclusive license to sell and market its Hemp based energy drink “Chillo” and C+ Swiss ice tea into western Canada. Under the terms of the agreement with Chill Drinks LLC, MediSwipe is now the exclusive licensee for the medicinal industry in 20 states and certain territories in Canada including select retail locations.

“We are extremely pleased that our progress with this division is gaining momentum in as little time as three months. When you have a great product, it makes things that much easier. With expansion into the medicinal space throughout Canada, we are now setting up shipping logistics that will help us gain access not only for our drink division in Canada, but with our other products and services providing additional revenue streams from dispensaries and caregivers in Canada where we believe is a rapidly growing marketplace for our Company,” stated B. Michael Friedman, CEO of MediSwipe Inc.

The Company has additionally unveiled its’ new corporate website this week allowing for the purchase of the beverages directly from the site, and will soon allow dispensaries, caregivers and patients the ability to sign up as independent distributors and participate in profit sharing of sales within their network. A select amount of independent distributorships are still available for non-patients and caregivers. Inquiries may be made directly to the Company.

CHILLO, with its distinct trademark orange can, carries the chill of hemp seed extract with the added punch and perfect blend of caffeine, vitamins B6 and B12 for the ultimate drink experience.

The popular energy drink is now for sale with the world’s largest online retailer on Amazon.com Marketplace exclusively through MediSwipe. The Company also offers its brand of hemp-based tea C+ Swiss. C+SWISS is popularly known as the original hemp based ice tea approved for sale in the United States, with distribution already in Whole Foods and major markets nationally. The hemp based drink comes in eco-friendly, recyclable packaging that stands out to the health conscious target customer. C+SWISS contains all natural ingredients including non-gmo beet sugar, concentrated lemon juice, hemp seed extract, black tea extract, and natural flavoring consisting of fruit and plant extracts. 

Both brands are available in medical dispensaries and select retail locations across the country or exclusively through MediSwipe by calling 248.262.6850. If you are interested in becoming a distributor, please contact MediSwipe through email at [email protected].

Visit the Company on Facebook, and for every 420th “Like” the Company will give away a free Chillo and C+ Swiss gift pack to that lucky friend.

About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides terminal-based service packages and an integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts Receivable Financing.

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 MediSwipe Inc. to be materially different from the statements made herein.

Tags: 

Read More