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REFG (Medical Cannabis Payment Systems, Inc.)


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refgMedical Cannabis Payment Solutions (REFG) is a software technology company who provides end-to-end management solutions for the rapidly expanding medicinal marijuana industry.

With medical cannabis being increasingly accepted within the U.S, REFG is assisting all market participants, both producers and distributors, by providing an integrated, one stop solution, yet to be seen in the market, that will document and assure compliance with all the state regulations and laws needed to establish the business. As such, the company’s Seed-to-Sale Technology Solution is made to serve as a management and compliance technology for all growers, dispensaries, and caregivers that will work with government agencies and public officials to expand the acceptance of medical marijuana as well as maximize the market potential. For example, the state of Illinois utilized the company’s software for all state licensed dispensaries and will be Assisting the Utah Legislature

In addition, REFG also provides other essential tools to the dispensaries that will be customized to their needs that can include the following:

  • Greenhouse Management
  • Data Collection
  • Inventory Management, Grading, and Transfer
  • Automatic State Limit Enforcement
  • Customer Loyalty Program
  • Billing and Invoicing,
  • Patient Management
  • Website and Marketing Integration
  • Online Order Forms

Furthermore, the company has additionally developed the Only Mobile Application Platform in the industry ,known as “Ghost”, that will create dispensaries with the capability of creating their own mobile app on Apple and Android devices with features that include push notifications, third party integration, in-app messaging, e-commerce, multimedia, and social media integration.

 

Symbol: REFG  [ Current PPS: $0.153  Outstanding Shares: 111.2M  Float: 15.1MM  – a/o September 24, 2013 ]

refg chart

Website(s): www.medicalcannabispaymentsolutions.com

Market

  • The use of cannabis as a natural remedy is said to have begun over 4,000 years ago and has since then been utilized as a globally known medicine specifically in China, India, and the Middle East to treat malaria, rheumatism, and constipation.
  • The renowned Dr. Oz and CNN Dr. Sanjay Gupta have become recent supporters of Medical Marijuana
  • New York has become the 23rd state to approve medical marijuana
  • Current research predicts 14 additional states could legalize marijuana for recreational use.
  • The U.S House and Senate is currently aiming to change the medical cannabis laws
  • The New York Times recently released an article comparing the medical marijuana market as the new “repealing prohibition” era.
  • According to ArcView Market Research, the U.S Cannabis Industry increased 64% in 2013, is expected to total $2.34 billion by the end of 2014, and increase to $10.2 billion by 2019.
  • In April 2014, the Marijuana Business Daily predicted that U.S retail cannabis sales has the potential to total $7.4 – $8.2 billion by 2018.
  • In 2013, over $1.43 billion worth of legal marijuana was sold between medical cannbis retailers, processors, and dispensaries and is expected to increase 64% to $2.34 billion by 2014
  • Colorado shop owners estimate they generated over $1 million in collective sales on the first day of legalization.
  • The state of Colorado also expects tax revenue of marijuana sales to total $91 million.
  • Colorado estimates the industry could generate the state $600 million in revenues for 2014.
  • A recent article by CNBC details “How legal marijuana could be the next great American industry”

 

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