Pt2 Hi-fidelity quotes from Q&A. This post continues the careful transcription of Q&A highlights from the original audio source. Pt2 offers quotes not found in Pt1 and, in other cases, expands quotes from Pt1. It is designed to be read as a companion piece to Pt1.
From the September 12, 2013 Q&A
http://www.medicalgreens.com/docs/Audio/SKTO_CC_001.mp3
Kevin Allyn on Phamajanes: Pharmajanes is providing an online marketing platform that connects patients and collectives. Pharmajanes is not handling product. It is not taking product risk and is not being paid for product. We're providing a platform that enables patients and collectives to transact business.
Jeff Benz on branching interstate: Yes, we are starting in California because it makes sense to, and we think this is really great opportunity to begin what we're setting out to do. We are, however, looking to branching out to other states, but we cannot put a date or even a time estimate of when we will do that. Our goal is to be nationwide, but we also need to follow the law in this area, and crossing state lines creates additional regulatory complexity for some aspects of what we would like to do, such that we are being very conservative and careful in our approach. As soon as we branch into other states, we will let you know.
Benz on private banking: We are not financing dispensaries. That does not mean that, in the future, if it is legally permissible, we might not consider that. But, at the moment, we are not doing it. The reference to private banking on the website is a reference to our efforts to launch the Simple Prepay program that allows greater ease of transactions between patients and collectives, in a manner that gets us around federal restrictions on the use of credit cards in collectives. Watch for more to follow in the very near future.
Allyn on future business plans: Our business plan is constantly evolving. That's one of the things that's really exciting about this space. We will disclose additional elements of it, as and when we are required or when we are able to do so. But do not expect us to divulge the company's plans for the future because that could cause a competitive disadvantage for us. I can say that we are looking at and intend to be growing the company both with acquisitions and with organic internal growth. Suffice it to say, I think we are on to some exciting ideas that will transform this (MMJ) space.
Allyn on Larry King, media requests, and promotion: It (King interview) is something I want to make sure we do when the time is right. Larry King has agreed to interview me in my first on camera interview, which I am really excited about. He's a legend; he's a global icon.
With respect to other media interviews, we have been approached by a number of media outlets to discuss the company. But we are also being very careful about who we do this with and how we do it
We are not looking to promote this stock or have not done so in the traditional use of "promote." But we are looking to ensure that our public relations plan is strategic and enhances the company's value. Watch for more on these subjects in the very near future.
Benz on SK subsidiary Medical Greens management of collectives: Someone has to be involved in running the collectives under California law. California law does not appear to restrict in any way those who own or manage collectives from seeking outside assistance for their efforts in managing their business. So, much like they are able to consult with lawyers, financial advisors, book keepers, accountants and the like, they can also contract with companies like Medical Greens to provide related services to their businesses. It's lawful for them to pay for those services and lawful for providers like us to provide those services. We (i.e., subsidiary Medical Greens) are not owning or forming collectives nor do we intend to do so.
Benz on disclosure: We're a company that's traded in the public capital market, and that status provides us with legal restrictions on what we can say and how we can say it as a result. What the federal government does or does not do or might or might not do (regarding MMJ) has nothing to do with our disclosure of information concerning our business. Disclosure is about following the applicable rules and regulations for public companies and protecting the company's confidential information from being traded on inappropriately by competitors or others. I'm not sure I can say much more than that, except to say we're going to follow the law. And we're going to do it in a way that also protects our confidential information.
From the September 12, 2013 Q&A
http://www.medicalgreens.com/docs/Audio/SKTO_CC_001.mp3
Kevin Allyn on Phamajanes: Pharmajanes is providing an online marketing platform that connects patients and collectives. Pharmajanes is not handling product. It is not taking product risk and is not being paid for product. We're providing a platform that enables patients and collectives to transact business.
Jeff Benz on branching interstate: Yes, we are starting in California because it makes sense to, and we think this is really great opportunity to begin what we're setting out to do. We are, however, looking to branching out to other states, but we cannot put a date or even a time estimate of when we will do that. Our goal is to be nationwide, but we also need to follow the law in this area, and crossing state lines creates additional regulatory complexity for some aspects of what we would like to do, such that we are being very conservative and careful in our approach. As soon as we branch into other states, we will let you know.
Benz on private banking: We are not financing dispensaries. That does not mean that, in the future, if it is legally permissible, we might not consider that. But, at the moment, we are not doing it. The reference to private banking on the website is a reference to our efforts to launch the Simple Prepay program that allows greater ease of transactions between patients and collectives, in a manner that gets us around federal restrictions on the use of credit cards in collectives. Watch for more to follow in the very near future.
Allyn on future business plans: Our business plan is constantly evolving. That's one of the things that's really exciting about this space. We will disclose additional elements of it, as and when we are required or when we are able to do so. But do not expect us to divulge the company's plans for the future because that could cause a competitive disadvantage for us. I can say that we are looking at and intend to be growing the company both with acquisitions and with organic internal growth. Suffice it to say, I think we are on to some exciting ideas that will transform this (MMJ) space.
Allyn on Larry King, media requests, and promotion: It (King interview) is something I want to make sure we do when the time is right. Larry King has agreed to interview me in my first on camera interview, which I am really excited about. He's a legend; he's a global icon.
With respect to other media interviews, we have been approached by a number of media outlets to discuss the company. But we are also being very careful about who we do this with and how we do it
We are not looking to promote this stock or have not done so in the traditional use of "promote." But we are looking to ensure that our public relations plan is strategic and enhances the company's value. Watch for more on these subjects in the very near future.
Benz on SK subsidiary Medical Greens management of collectives: Someone has to be involved in running the collectives under California law. California law does not appear to restrict in any way those who own or manage collectives from seeking outside assistance for their efforts in managing their business. So, much like they are able to consult with lawyers, financial advisors, book keepers, accountants and the like, they can also contract with companies like Medical Greens to provide related services to their businesses. It's lawful for them to pay for those services and lawful for providers like us to provide those services. We (i.e., subsidiary Medical Greens) are not owning or forming collectives nor do we intend to do so.
Benz on disclosure: We're a company that's traded in the public capital market, and that status provides us with legal restrictions on what we can say and how we can say it as a result. What the federal government does or does not do or might or might not do (regarding MMJ) has nothing to do with our disclosure of information concerning our business. Disclosure is about following the applicable rules and regulations for public companies and protecting the company's confidential information from being traded on inappropriately by competitors or others. I'm not sure I can say much more than that, except to say we're going to follow the law. And we're going to do it in a way that also protects our confidential information.
