Medical Marijuana Inc Shareholder Update And Letter
In the meantime, we are actively searching for other qualified individual(s) to fill the vacant board seat(s). Specifically, we are looking for the right individuals who will bring valued experience and guidance in the growth of our Company. We will announce the director appointments at the proper time.
CANCHEW GUM PRODUCT LAUNCH AND NEW CORPORATE CANCHEW BIOTECH SITES:
The Company has successfully launched of the CanChew Gum website ( www.canchewgum.com ) and is taking sales and product requests. We experienced a delay in the launch of the products due to last minute changes and approvals that we required from attorneys involved to ensure that all marketing and packaging was done correctly and in compliance with the appropriate regulatory bodies. The Company launched its new Canchew Biotechnologies ( www.canchewbiotech.com ) website on April 20 th, 2013. This is the informational website for the anticipated MedChewRX gum being clinically developed by Canchew Biotechnologies, with clinical trials in Europe set to begin in the 3 rd quarter 2013.
DEPOSITORY TRUST COMPANY (DTC) CHILL UPDATE:We received notification from the Depository Trust Company ("DTC"), that a deposit transaction restriction had been placed on MJNA to prevent additional share deposits until certain information was received. The DTC provided a list of over 140+ issuances that they were requiring supporting documentation for, as well as legal opinion letters relating to the same. As the issuances in questions were made prior to take over of management of the Company, we experienced significant difficulty obtaining the supporting documentation from former shareholders and officers. However, we have now been able to accomplish the task with the assistance of our Transfer Agent. The Company hired an attorney in January who has had significant experience working with the DTC to prepare the relevant opinion letters. All of this information has been provided to the DTC on February 6, 2013, the DTC informed us that they would respond no later than March 27, 2013.
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