Management of QED Connect, Inc. (OTC Pink: QEDN) (PINKSHEETS: QEDN) today is providing further information of the California's Medical Marijuana industry in regards to its wholly owned subsidiary, Emerald Med Farm, LLC.
California's Proposition 215 was the first statewide medical marijuana voter initiative adopted in the USA. Proposition 215 (HS 11362.5) was passed in 1996 by a 56% majority of California voters in November 1996. The California Supreme Court has ruled that marijuana is as legal as any prescription drug under State law.
On January 1, 2004, the California Senate Bill 420, the Medical Marijuana Program Act (MMP), became law. The law requires the Department of Public Health (DPH) to establish and maintain a program for the voluntary registration of qualified medical marijuana patients and their primary caregivers through a statewide identification card system. Under California law, medical marijuana patients may "associate within the State of California in an order collectively or cooperatively to cultivate marijuana for medical purposes." The collective provides a means for facilitating or coordinating transactions between members including growing and distribution. As is the case when growing for your own personal use, a collective operation should produce no more than is medically necessary for the members of the cooperative. However, there is no limit to the number of people who can be members, and not all members have to participate in the actual cultivation. The collective must operate on a non-profit basis as set forth in the Attorney General's Guidelines.
California, and each county within the state originally had specific guidelines about how many plants a patient could grow at any one time. However, in 2010 the California Supreme Court ruled that these guidelines were illegal, and that patients could possess or grow as much marijuana as is reasonably related to their medical needs. The basic rule of thumb is that you can grow as much as you legitimately need to treat the medical condition for which you have the doctor's recommendation.
A dispensary is a storefront operation distributing medicine to the patient members of the collective. A medical marijuana dispensary must be organized as a non-profit.
The Company's wholly owned subsidiary, Emerald Med Farms LLC, is a lease holder of land, and maintains operates equipment, facilities and employees to grow and harvest crops to be used in the medical marijuana industry. Emerald Med Farms will be a contractor and provide goods and services to the not-for-profit medical marijuana cooperative.
Under the Chapter 9.31, MEDICAL MARIJUANA CULTIVATION REGULATION of the Mendocino County Code, individuals cannot cultivate more than 25 plants per parcel of land without prior consent from the governing authority. However, a grower can attain an exemption, if the parcel of land exceeds nine acres, and all the members managing the marijuana crop are adults, with no previous felony charges against them. Emerald Med Farms meets these criteria.
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED acquired StockProfile.com. In April 2014, the Company entered into an agreement to acquire Emerald Med Farms, LLC; a California based medical marijuana company. www.emeraldmedfarms.com. QED's business model helps to achieve its goals by expanding its overall revenue and profits potential through multiple market segments. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors.
For more information contact:
Tel: (603) 425-8933
Fax: (561) 764-6180
SOURCE: QED Connect, Inc.