Canadian Marijuana Stock Prices are on the Rise

Posted on October 1, 2014 by admin

Canadian marijuana stock price are on the rise. Yes, stocks, as in Wall Street-type stocks. Canada has taken advantage of the booming industry, by letting it become publically traded, and so far it looks like a successful venture for brokers and traders. While the US is surely years off from making legalized marijuana mainstream, this does show promise.

Far into the future, this may become a reality one day for us in the lower portion of North America. However, if marijuana is anything like legalized alcohol or tobacco, there will always be a group that is 100% against it. Take into account that in early 2014 the state of Georgia tried to pass a bill to legalize cannabis oil for autistic and terminally ill children – cannabis oil, which we know is different than actual cannabis – and the bill failed. If lawmakers are not going to help sick children, do you think they would capitalize on the public trading of marijuana? Well, money talks in the United States. In the meantime, small merchants are taking advantage of the legalized marijuana boom in the United States. All it takes is a business mindset, determination, and a product. Oh, and a marijuana merchant account provider.

For that last part, you need the services of us here at www.marijuana-merchant-account.com. We know that it is a tricky, perhaps even risky business to get into, yet it can help many people. It not only allows people to get their medically-prescribed marijuana, or get their recreational high legally, but it also helps build the local economy by employing, paying taxes, and creating a tourist stop, that many would otherwise not take. This is the perfect time to get into the industry, and we at Marijuana Merchant Accounts are here to help you.

For more information about starting your own legalized marijuana business, or to set up a cannabis merchant account, contact us today!

New York to approve limited Medical Marijuana Use

Posted on June 27, 2014 by admin

The state of New York has nearly come to an agreement on a pilot program to give access to marijuana to ill residents of the state. This came after several days of negotiations which could made the state the 23rd in the United States to accept the use of marijuana for its medical properties.

The process to approve medical marijuana was full of intense negotiations between Governor Cuomo and the state legislature. The final agreement, which will be voted on by the senate and passed by the week’s end, was reached after several caveats were elaborated.

First, and most notably, no smoking of the drug will be permitted. Medical marijuana patients can use edibles and tinctures in lieu of smoking marijuana though patients can inhale the drug by using vaporizers, which are similar to e-cigarettes.

Another caveat is that only a limited number of illnesses could potentially qualify a patient for medical marijuana usage such as AIDS, cancer, epilepsy and other serious degenerative diseases.

Also, the marijuana will be grown in the state of New York and all sales will be taxed at a rate of 7 percent.

The State Health Department will be in charge of overseeing the program as a whole. The department has a provision allowing it to end the program at any time. The governor cited the opt out clause as necessary in order to maintain public health and safety. There is also a clause that puts a seven year lifetime on the bill unless re-approved by lawmakers.

The department will have as much as 18 months to create regulations that govern the use of medical marijuana. This will include the entities that will be permitted to dispense it, which will be limited to five organizations initially. It has yet to be seen which organizations will handle the dispersion of the drug or how they will accept payment from customers though a marijuana merchant account could greatly improve the effectiveness and sales of medicinal facilities.

While the Assembly has passed five bills to support medical marijuana they were always essentially killed in the senate. In recent weeks, republicans and democrats have come together to support the bill in an effort to provide patients with a form of relief from treatments such as chemotherapy.

Supporter’s of the use of medical marijuana, while pleased with the bill criticized its limitations and methodologies, specifically regarding not allowing the drug to be smoked.

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Will E-Cigarettes Aid in the Fight against Alzheimer’s

Posted on June 27, 2014 by admin

While nicotine has been associated with smoking and the dangers therein recent studies have found that nicotine could be beneficial for patients with neurological diseases such as Alzheimer’s.

The surgeon general’s annual report stated that over 20 million people have died from causes associated with smoking. 87 percent of lung cancer deaths are caused by smoking. As such there has been an effort to educate smokers regarding the risks of smoking cigarettes.

New studies though, conducted by Dr. Paul Newhouse of Vanderbilt University’s Center for Cognitive Medicine, have connected nicotine and improved brain function. The patients in the study had mild cognitive impairment, which is considered a precursor to Alzheimer’s.

The results suggest that nicotine might provide medical benefits when not smoked as a traditional cigarette. Nicotine is a stimulant which activates cholinergic neurons that are common in the central nervous system. Alzheimer’s causes those same neurons to die.

Dr. Peter Whitehouse, a neurologist at Case Western Reserve University in Cleveland, became one of the pioneers in research of how nicotine receptors impact memory. He suggested that if stimulated, nicotine receptors could have a positive effect on patients with neurological disease.

Dr. Newhouses’ recent study found that using nicotine patches on nonsmokers allowed patients to regain 46% of their age-adjusted normal long-term memory. Those patients who did not receive the patch experienced memory decline of 26%.

These results were consistent with a previous study conducted by Dr. Newhouse which found that receiving nicotine intravenously improved memory in Alzheimer’s patients. All of the results were confirmed by memory tests.

While these results seem quite consistent no research has been conducted regarding e-cigartettes and their role. E-cigarettes deliver nicotine in an inconsistent manner and this could change the positive effects seen in the trials where patients had a patch or intravenous injections. In addition, the vapor of e-cigarettes contains traces of carcinogens which are toxic.

A big challenge in proceeding with research is to change how nicotine is perceived. While scientific research has improved how the public perceives marijuana, it might take more time and research before the same happens with nicotine.

Tobacco research by pharmaceutical companies could aid as happened with drug developers, like Solvay Pharmaceuticals and Solvay Pharmaceuticals and GW Pharma, which have all used marijuana to synthesize marijuana cannabinoids (THC) for cancer patients and diabetics.

Because the pharmaceutical companies were able to change perception laws were changed and people began to use medical marijuana. Medical marijuana facilities needed a safe and easy method for processing payments for patients. The marijuana merchant account is a great solution that allows a secure and quick transaction.

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Medical Marijuana Gets Some Help…From Washington DC

Posted on June 26, 2014 by admin

Lawmakers in Washington DC are considering loosening the region’s tight rules concerning medical marijuana. At the moment, there are only four ailments for which a doctor can prescribe medical marijuana. With this change, a doctor can prescribe medical marijuana as they see fit, regardless of the patients’ ailments. This is fantastic not only for patients, but also for those in DC who have thought about opening a medical marijuana dispensary.

There are many reasons to get into the medical marijuana business, from helping the community to the simple fact that it is lucrative. However, while it is a sure moneymaker, finding a processor to process payments can be tricky. The vast majority of banks and traditional processors will not cater to medical marijuana merchants, even in areas where the business is accepted. This can be challenging, however there are processors that specialize in medical marijuana payment processing. One of the leading companies is MMJ, or marijuana-merchant-account.com.

MMJ is not new to the medical marijuana business. We have been in business for over 10 years, providing the absolute best software, security, and terminals to our clients. We know that security is of utmost importance to medical marijuana dispensaries, and we provide the best. We also provide wireless terminals, which are streamlined and easier to manage if you have a small workspace, or if you would like to move throughout your business to do your transactions. Our services are 100% legal, and we have over 10 years of happy clients to back us up. While not all areas accept medical marijuana, if you are in area that does, it is a great business to be associated with. When you decide to become a dispenser, you need to turn to MMJ for your medical marijuana processing needs.

Hopefully Washington DC will loosen their restrictions on who can benefit from medical marijuana. The changes will not only benefit those in need of the product, as well as those who are medical marijuana merchants. This change can totally transform the industry, and you need to be prepared, regardless if you are a current or prospective medical marijuana dispensary operator. You need the best marijuana payment processor in your corner. You need MMJ.

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Cannabis Legalization Having Interesting Effects on the U.S.

Posted on June 11, 2014 by admin

MMJ BUSINESS AND BANKS

There is a perception that major banking institutions avoid payment processing for Marijuana merchants. This perception is false, however, as more banks are now revealing their dealings with marijuana merchants since the Obama administration released new guidelines on how financial institutions can legally do business with cannabis dealers. Recently the chief executive officer of a Nevada bank reported that they would do business with dispensaries that will be opening there.

John Sullivan, president and chief executive officer of First Security Bank of Nevada, told KNPR, “Frankly, I didn’t personally follow any of this until about two months ago… (but then) we began to get phone calls from attorneys, and they represented some very influential people in Las Vegas with a long history of being strong supporters of the city.” He continues, “These are not the sort of people that are in dark shadows or they’re coming in from somewhere else…these are local people who have spent their life here and they have an unblemished reputation in all ways.”

Sullivan admitted that he was skeptical at first of the growing cannabis banking trends, but after reviewing research on the industry and reading the recent banking guidelines set out by the federal government, he and the First Security Bank of Nevada board decided to proceed.

After looking at all of the facts, Sullivan noted, ““It became clear that the attitudes of the federal government – both the bank regulatory agencies as well as the Department of Justice – are quickly changing.”

First Security Bank of Nevada hopes to be able to start payment processing for Marijuana merchants soon. As the first bank in Nevada to openly admit to dealing with cannabis dealers, other banks contemplating doing business with marijuana merchants will be watching their interaction with the government carefully.

PITCHING POT

New government regulations have started a flood of applications from aspiring cannabis businesses into Nevada. As marijuana becomes legal in states throughout the nation, each one is left to decide how to process and grant licenses. In Clark County, Nevada, applicants will be required to organize a six minute pitch to the county commissioners and the public over a three day period. The commissioner board will then select 18 finalists and forward them to the state for final approval.

SEC WATCHING CANNABIS STOCKS

Cannabis stock trading is coming under scrutiny by the SEC as the industry is starting to boom. After temporarily suspending five cannabis-related stocks, the SEC warned investors about committing fraud within the sector. A year ago there were only a dozen publicly traded companies in the cannabis market, now there are more than 100.

Now the SEC is keeping a close watch on a sector that is used to coloring outside of the lines. With reports of shady investors, fudged financial numbers, and questionable business practices. Most marijuana merchants are frustrated by these practices. They note if the marijuana industry wants to be taken seriously, it must clean up its act.

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Medical Marijuana is Projected to be Nevada’s Next, Big Crop

Posted on June 6, 2014 by admin

Medical marijuana could be Nevada’s next big cash crop. Where other crops need so much water in order to see profit, the marijuana plant is relatively light when it comes to water requirements. According to an article by MMJ Business Daily, “Alfalfa earns $100 profit per acre-foot of water, while golf courses earn $5,000-$7,000 per acre-foot of water.” Because of the little water that marijuana requires, its growth in the desert can be justified.

Professor Dale Devitt of UNLV told the Las Vegas Review Journal that the relatively low water requirements of medical marijuana and the high retail price will place it ahead of the other crops in the area in terms of profitability per acre-foot of water.

With the lower amounts of water used (lower production costs), medical marijuana businesses have great hopes for high profits. Terra Tech, a publicly traded firm, has estimated that it will produce 75 pounds of marijuana each week. According to MMJ Business Daily’s report, that means a yield of $15 million to $25 million in annual sales.

With low water requirements and high estimated profits, speculators have already begun to line up. With proposals flooding in in Clark County, The Las Vegas Review Journal reported that the wide range of applicants include medical professionals, business people, and former politicians.

In addition, marijuana advocates are launching petition drives in hopes of placing the cannabis legalization bill on the 2016 ballot. According to MMJ Business Daily, those in favor of the industry making headway in Nevada foresee it becoming even larger than the current market in Colorado.

As the market expands and prospers in Nevada, sources for high risk merchant accounts will become more and more sought out. Marijuana-merchant-account.com offers such options for the merchants in the industry. According to their website, “We have helped hundreds of medical marijuana dispensaries with payment processing services. Our retail locations choose our solution because there are no processing fees, discount rates, or Interchange fees.”

To get your Marijuana Merchant Account started, click on the button below

Banking progress for Marijuana Merchant Accounts in Colorado and Washington

Posted on May 22, 2014 by admin

For those servicing the new commodity in Colorado and Washington, things are beginning to work out for the better. A long time coming are some banking options that were not available a year ago.

Colorado speed bumps

In Colorado co-ops will be created that are to service accounts specific to the needs of the market with marijuana buyers and growers. Sellers might have a bit of an issue for a time, but all the other elements are falling into place. Marijuana Merchant accounts will be over seen by the state’s financial services commissioner.

Each co-op will do business very similar to that of a credit union, without the requirement of deposit insurance: Thereby, leaving each new business owner without that extra FDIC insurance, through the federal government, in case the institution fails. Deposit insurance is that little extra kick all other consumers get when they deposit money, and it seems a bit out of the ordinary for Colorado to set up these new businesses, with the expectation of failure.

Washington as well

Washington has stepped up the bar a bit further. They are already using well established credit unions through Numerica Credit Union. They don’t want to offer accounts to the recreational stores but will work with the processors and the growers.

On the other hand, they won’t let them have more than five million dollars in any account.

-They won’t let them have debit or credit cards for their accounts.

-They won’t let them deposit any check remotely.

-All deposits must be done in person and they won’t let them deposit in the night deposit.

-Of the 17 branches that Numerica has, the person with the new medical marijuana account, must live in the area in order to even have an account.

And last, but not least……. They won’t let them make deposits or withdraw their own money from other credit unions that are part of the same credit union network.

Progress

Indeed, it is being made….. but at what expense? The person trying to run their new business will have to move to the right county and make any deposits in person. They can’t access their own money but in person and not from other atm machines. Indeed, progress. But is it really?

Who has the “Fix” for Marijuana Payment Processing?

Posted on April 9, 2014 by admin

There are so many companies coming forth now saying they have the answers to all of the banking and processing dilemmas that marijuana dispensaries are facing.

The most current solution being offered is the Bitcoin / PotCoin a crypto-currency that will target the medical marijuana dispensaries and the recreational cannabis stores like those located in Colorado and Washington State.

On March 17^th 2014 there was an announcement made that two companies Bitcoin ATM Franchise Corporation (“Company”) a wholly-owned subsidiary of First Bitcoin Capital Corp. and Bitcoin ATM manufacturer InterWallet, LLC teamed up to supply the medical marijuana dispensaries. Then on March 3, 2014 Solpower Corporation filed documents with the state of Nevada changing the name of the company to Bitcoin Collect, Inc. setting it up to be the “premier billing platform for the medical marijuana industry.”

Is this really the “Fix” the medical marijuana dispensaries need?

Well there are some very knowledgeable professionals who do not think the Bitcoin is the solution.

Michael Rupkalvis the president of the payment processing firm The Transaction Group said “I would rather bank out of a trash bag in my closet than use the Bitcoin or a Bitcoin ATM”.

Rupkalvis has been around the credit card industry for some time now and he has worked with hundreds of dispensaries. He cautions MMU businesses about using digital currency at this time like the Bitcoin, Potcoin or whatever else they can come up with.

Some think there are some benefits while others think there are drawbacks. The drawbacks make you question the “Fix”.

Digital currencies can fluctuate like crazy
Bitcoin prices are determined by supply and demand. They have fallen about 50% since November.
Digital currency is not recognized so they are a very big risk.
They are not insured by the U.S government so there is no protection for cannabis businesses or patients if the business goes under.
Digital currency is not something that consumers really use (so far only a few customers use the dispensaries)
Marijuana even in all of its forms is still illegal federally.
Digital currencies can be high jacked.

Digital currencies are very vulnerable to hackers and recently one of the largest Bitcoin exchanges had to file for bankruptcy protection. They had to stop trading virtual currency after they were attacked by hackers who found a glitch in their technology and around half a billion dollars just disappeared.

Currently, executives are questioning whether or not they want to work with the cannabis industry because the ATM operators would still have to rely on a traditional banking infrastructure. The cannabis industry is trying to come out of the shadows of the dark under world and deal openly with the legal system and the legal issues that surround the medical marijuana dispensaries, as well as the cannabis manufacturers.

Is it time for everyone to come to the table and brainstorm solutions on how to effectively use Digital Currencies?

For Marijuana Payment Processing contact us today!

U.S. Attorney General Gives the Green Light for Banks to Process Legalized Marijuana Money

Posted on February 12, 2014 by admin

The Obama administration will soon announce regulations to make it easier for banks to do business with legal marijuana sellers, Attorney General Eric Holder said Thursday. This is fantastic news for the many businesses that searching for a marijuana merchant account.

Holder did not specify whether the rules would apply only in the states that have broadly legalized marijuana, or also to states that have legalized it for medicinal use. In August 2013, the attorney general announced the Obama Administration would not seek to overturn the Colorado and Washington state measures. He said federal drug agents would continue to leave most drug law enforcement to local authorities and would focus on large drug operations, setting priorities that appeared to make it unlikely the feds would engage in aggressive enforcement in the states that have legalized pot.

The federal banking accommodation, being worked out jointly by the Justice and the Treasury departments, comes in the wake of decisions by voters in Colorado and Washington State to legalize the sale and possession of pot. The moves have created legal tensions, since marijuana remains illegal under federal law. One particular problem has been the refusal of banks and merchant account services to deal with legalized marijuana businesses out of fears they will be accused of violating money-laundering laws. This fear is now in the past. Even so, it can still be hard to find a marijuana merchant account provider, since these businesses are classified as “high risk”. This is not necessarily a shameful thing, and it is not something that the average customer will know about to judge. It simply means that your business is at a higher risk of failure in comparison to other businesses.

Many marijuana merchants will find that the majority of merchant account services that will accommodate their company have higher fees. While this seems to be the norm, with dedication and research you will find that there are companies that cater only to “high risk” merchants, and these processors tend to have more streamlined fees.

The legalized marijuana craze is a great way to break into the small business industry. Thanks to Attorney General Eric Holder’s statement that banks would not be penalized for accepting funds from these businesses, it is now easier to find business bank accounts, as well as merchant accounts. However, finding a marijuana merchant account service is still tricky, so be sure to research each company thoroughly before deciding.

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