INDUSTRY NEWS

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.

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

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].

Mediswipe, Inc. (MWIP) has announced availability of CHILLO Hemp Energy Drink and C+SWISS Hemp Tea on Amazon.com

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

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After a year of working on the CNN documentary “Weed“, CNN’s Chief Medical Correspondent Dr. Sanjay Gupta has changed his previous position on marijuana. Further, in an August 8th CNN article titled “Why I changed my mind on weed“, Gupta offers the following apology; “We have been terribly and systematically misled for nearly 70 years in the United States, and I apologize for my own role in that.”

Apology accepted, Dr. Gupta.  And all due respect for your willingness to learn and then speak out publicly about your findings. Maybe some politicians and government officials will be inclined to do their own homework on this issue now.

Weed will replay Sunday, August 11th at 11:00 pm ET and Monday, August 12th at 2:00 am ET.
Dr. Gupta has created quite a stir, as reported from various angles below.