Thursday, March 14, 2013

The Perfect Time?!?!?!

Well kids there is a little meeting coming up in Washington that would love to hear from us and the Cannabis Industry. The hearing will take place on Tuesday, March 19, 2013, in Room 1100 of the Longworth House Office Building, beginning at 10:00 A.M.. This meeting is about Tax Reform and Tax Provisions affecting states and local governments! Doesn't this sound like something we have been trying to change with the Cannabis Industry for years. We all know tax codes are not in our favor of this industry. Is this not the place to ask about tax codes when it comes to the industry? I wish I could make this meeting and ask myself. I am probably reading into this to much but this sounds like a great place to ask about reforming the tax codes on Cannabis to me. This part of the release is why I think it would be a great topic at this meeting. “As we continue to work toward comprehensive tax reform that significantly lowers rates and makes the code fairer and simpler so that we can spur a climate for job creation, higher wages and better benefits, we must better understand how various aspects of the tax code affect stakeholders. To that end, it is important that the Committee hear directly from those who are familiar with the impact of Federal taxation on State and local governments before considering any proposals as part of comprehensive tax reform.” Chairman Camp

Here is a link to the Hearing Advisory Here.

This is also where US HB501 SITS look at the summary of the the bill Marijuana Tax Equity Act of 2013 - Amends the Internal Revenue Code to impose an excise tax on: (1) the sale of marijuana by producers or importers of such drug equal to 50% of the sales price, and (2) each person who is engaged in a marijuana enterprise. Defines "marijuana enterprise" to mean a producer, importer, manufacturer, distributor, retailer or any person who transports, stores, displays, or otherwise participates in any business activity that handles marijuana or marijuana products. Requires any person who engages in a marijuana enterprise to obtain a permit to engage in such business. Imposes civil and criminal penalties for violations of the requirements of this Act.

Monday, March 11, 2013

My 3 positions $INO $CBIS $PHOT

I am holding 3 positions from Friday's close. $INO $CBIS $PHOT. All three of them I plan holding for a couple of weeks for a little swing. $CBIS & PHOT are just waiting on Feds. Then $INO priced 15.1 million of common stock and warrants on Frida at .55 cents causing a nice 25% drop. Buying and volume looked strong for it on Friday though and I continue to see all the shares offered at .55 to be picked up by the end of the week. Good luck everyone. Oh ya sorry $MJNA had to let ya go on Friday it has been fun

Friday, March 8, 2013

$MJNA & KannaLife Game Changer

This quote was taking from Medical Marijuana Inc. $FB page about KannaLife move.
"From KannaLife's exclusive license with NIH to its years in development of standardization in packaging cannabis based products, lends a perfect fit for the Medical Marijuana Inc., family of companies. Particularly, the NIH exclusive license in our opinion is a true industry game changer. Our investment in KannaLife helps further build our pipeline of patented cannabinoid based medical products. In the very near future, it is patents such as this that we believe will determine a company's future success in the cannabis based pharmaceutical industry."
Here also is the link to the the PR HERE

Wednesday, March 6, 2013

The Slow Slide

The volume has basically dried up in the Cannabis Sector as of late. With no news really coming out of Washington we still sit in limbo waiting for the word. We know more and more Americans are in favor of Cannabis both recreationally and medically! Even the GOP is on board to get Hemp re-classified so that farmers can start cleaning up the industrial side of things. In the Oversight Meeting today committee chair Sen. Leahy of VT said that it is a waste of resources to go after people possessing small amounts of Cannabis. REALLY PEOPLE? Until the Feds come out with a concrete plan to either help aid or to shut down this giant sector it is slowly growing a whole faster than anyone thinks. If you truly think they will allow Cannabis in any way you are a fool for selling any company that involves itself with this sector. If you think the Feds will shut down this sector as a whole and put a stop to recreational and medical uses of Cannabis then sell all your shares. Guess what, I will buy them. Just wish I had an ATM with endless funds to keep buying some of these wonderful publicly traded companies.

WOW He did Ask!!!

The question was brought to Holders attention by Sen Leahy in response to Colorado and Washington legalization efforts. Leahy said with all the budget cuts it makes NO SENSE to go after people in possession of small amounts of Cannabis. Holder responded by saying that they are very close in making a public statement on the issue. STILL WAITING!!!!

No comment

So far Sen. Grassley has not mentioned anything about the Cannabis Industry and it looks like he is not going to! When are we going to get a statement?

Who to Contact

Today could be one for the history books but that all depends if AG Eric Holder is even asked about the issue of medical and recreational cannabis. Here are a list of the people that should be contacted early tomorrow morning to let them know you would like a response from the federal government. Here is that list of Committee Members putting him on the hot seat.
Change can not happen unless YOU change!!!

Tuesday, March 5, 2013

Is the Wait Finally Over!!!

“Oversight of the U.S. Department of Justice”
DATE: March 6, 2013 TIME: 09:30 AM ROOM: Dirksen 226
Click here for Webcast
OFFICIAL HEARING NOTICE / WITNESS LIST: February 27, 2013 NOTICE OF COMMITTEE HEARING The Senate Committee on the Judiciary has scheduled a hearing entitled “Oversight of the U.S. Department of Justice” for Wednesday, March 6, 2013 at 9:30 a.m., in Room 226 of the Dirksen Senate Office Building. By order of the Chairman. Witness List Hearing before the Senate Committee on the Judiciary On “Oversight of the U.S. Department of Justice” Wednesday, March 6, 2013 Dirksen Senate Office Building, Room 226 9:30 a.m. The Honorable Eric H. Holder Jr. Attorney General U.S. Department of Justice Washington, DC

Tripp Keber of Dixie Elixirs Hitting the Big Apple $MJNA

The ladies and gentlemen at Dixie were nice enough to share with us that Tripp and gang are busy and getting ready for an upcoming trip to NYC. Tripp Keber will be speaking at the Medical Marijuana Business Daily event in New York City next week. Here is a link to the EVENT!!

4 Bills in the Illinois House and Senate

Here are summaries of the bills that are trying to pass though Illinois. Taking from email sent by NORML House Bill 1: This would provide safe and legal access to medical cannabis for sick people with one of the specific conditions listed in the legislation. It also details how patients will acquire their medicine and the regulations for those businesses. This bill is NOT perfect but a product of a decade of debating this issue and failing to legally protect medical cannabis patients in Illinois. If this bill passes other medical conditions can be added to the list that qualify, patients’ home cultivation could eventually be added and it can be improved upon. If this bill doesn’t pass we have the status quo. House Bill 2332: This bill would decriminalize personal possession of cannabis in Illinois, meaning that a ticket would likely be issued instead of an arrest for those found in possession of a personal amount of cannabis. We are working with the sponsor to expand the definition of a personal amount of cannabis and we are hoping to have that amendment attached to the bill prior to the hearing on Wednesday (see below). House Bill 2668: This bill would make a distinct definition for industrial hemp in the Cannabis Control Act of Illinois. Essentially this would allow farmers to grow hemp in Illinois if the federal government were to make the same change in their definition of cannabis. Senate Bill 1234: This bill would add saliva to the types of tests automobile drivers would consent to in Illinois. We are hoping to have the sponsor amend this bill to include a revision of our zero tolerance per se DUID law.

Monday, March 4, 2013

$PHOT with some Charts

Looks like the the whole Cannabis sector has been consolidating. Most of the charts look the same. PHOT also had another down day and this is after announcing a few days ago with their plans to continue progress with their one stop shopping site with everything relating to Cannabis. Friday we closed @ .0722 and opened below that today @.0701. Volume was light like entire sector with only 5.66 million shares traded and closed @ .0689. I look for volume to stay low until the FEDS get off their butts.
Weekly Chart Here
Daily Chart Here
30 Min Chart Here

CannaLabs Results of Dixie Elixirs "Natural Dew Drops" $MJNA

Dixie is proud to be one, if not the largest tester of medical cannabis in the State of Colorado. If it's not tested - it's not medicine. Link of test results Here.

$MJNA today with some charts

Looks like we are still waiting on a response from AG Eric Holder on the Feds stance on Cannabis. Volume has been very light of late but looks like some nice consolidation for the past week. We closed on Friday @ .315 and opened down today .305 reaching a low of .28 with light selling. Looks like we saw a bounce after the Euro close and went up and down all day but closed higher than we opened but still red for the day closing .308 with 7.2 million shares traded. Short volume did look like it was down from Friday also. Still would like to see a comment from MJNA about all the recent claims. I know Tripp addressed some of the issues but a formal PR release would be nice. Long and strong MJNA Weekly, Daily, and 30 Min charts with 13SMA 50SMA 200SMA
Weekly Click Here
Daily Click Here
30 Min Click Here

Friday, March 1, 2013

Update to US HB499

Looks like US HB499 has again been referred to the Subcommittee on Crime, Terrorism, Homeland Security, And Investigations. You can view the full bill on the blog

MJNA Sell of Assests

This morning we were delighted to see that Medical Marijuana Inc. entered into a agreement with CannaVEST corp to sell certian assets. CannaVEST Corp filed Form 8-K with the Securities and Exchange Commission on February 13, 2013. Hopefully the shorts start to see that this company is on it's way up like it has been for months now. You can't stop change all you can do is adapt to the changes. Here is the press release from Medical Marijuana Inc CLICK HERE. Here are the copies of the 8-K CLICK HERE. As always long MJNA