Sir Hemp

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Its official, the Regulate, Control and Tax Cannabis Act of 2010* is now also known as California Proposition 19. This initiative will be on the November 2, 2010 statewide ballot. The purpose of the proposition is to legalize the recreational use of cannabis by adults 21 years of age or older. It would strip away certain criminal and civil penalties associated with cannabis production, distribution, and sale. Local governments would be allowed to impose and collect a tax on cannabis.

If Proposition 19 passes this November local governments will have to look outside the box for answers on how to tax and regulate cannabis consumption. It would be wise for cities to start making partnerships with companies like Medical Marijuana Inc. (OTC: MJNA) that have created tax collecting strategies which could allow cities to watch revenue flow from the cannabis industry on a daily basis.

Speaking of Medical Marijuana Inc. their newest division, The Hemp Network**, is set to launch August 28, 2010. So the countdown begins. Be sure not to miss out, The Hemp Network’s “soft-launch” is still continuing until August 28th and it is still just $100 to sign up and secure your spot in the power leg of the network. For more information regarding The Hemp Network, please join in to the conference calls taking place Monday through Thursday at 6 PM (PST) from now until the pre-launch on August 28, 2010.  The phone number and pin to join a conference call is as follows: (218) 339-3600 PIN: 321677#

Back on track, I’m still very impartial to Proposition 19. On one side of the issue I would really prefer that we step back and address the medical marijuana issue first. Dispensaries are being shut down left and right, there are still many cities that are not allowing dispensaries to operate, and the lack of regulation will continue giving the medical marijuana industry its stigma. But, I cannot deny that prohibition of cannabis in this country or any country is absolutely ridiculous. It is unfathomable that any individual or group of individuals would think that they have the power to criminalize nature.

Because of the attention that Proposition 19 has been getting, especially more recently by larger news agencies, I feel the initiative will be facing a grim result this November.

As an idea for dispensary owners, (if it is feasible) do your best to team up with a business like Cannabis Medical Solutions Inc. (OTC: CMSI) which specializes in electronic payment processing.  By doing so, it would allow you to keep less cash on the premises and more money in your pocket to continue delivering and developing services for medical marijuana patients.

*The Regulate, Control and Tax Cannabis Act of 2010 was made possible by the advocacy group Tax Cannabis 2010.

**When signing up for The Hemp Network, you must have a sponsor.  To sign up just visit http://thehempnetwork.com and use phone number (661) 618-3277 as your referral to the Network.