ezGreen Becoming Recognized as “Best-in-Class” for its HIPAA Compliant Point-of-Sale Solution
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) -- FinCanna Capital Corp. (“FinCanna”) (CSE:CALI) (FNNZF) a royalty company for the U.S. licensed cannabis industry, is pleased to announce that it’s portfolio company ezGreen Compliance has received endorsement from Dr. Francisco A. Ward D.O., Co-Chairman of the Maryland State Medical Society, medical cannabis task force, for its Point of Sale (POS) solution. ezGreen, designed by medical, data and security professionals provides state-of-the-art enterprise compliance POS software solutions for licensed cannabis dispensaries in the United States.
Dr. Ward whose areas of specialization include Pain Medicine has been involved in the Medical Cannabis industry as a physician since its onset. In a recent interview, Dr. Ward said that his interest is in protecting doctors and patients participating in the cannabis wellness market to comply with “medical and legal standards” required by HIPAA. He pointed out that ezGreen Compliance is a product that was created to address these important issues.
Specifically developed to address the needs of the licensed cannabis Industry, ezGreen Compliance is HIPAA Health Insurance Portability and Accountability Act (“HIPAA”) certified POS solution developed and supported by Automated HealthCare Solutions (AHCS). AHCS is a leading point-of-care tracking and dispensing software solution developed over the past 17 years which currently supports 3,500+ active physician operated clinics and dispensaries, all while maintaining HIPAA compliance following essential Health and Human Services standards in the United States.
Additionally, ezGreen has become a member of the Maryland Medical Dispensary Association (MDMDA) whose purpose it is to support the common interests and goals of Medical Cannabis Dispensaries in the state with the mission to provide the safest and most secure way for Maryland patients to access Medical Cannabis.
Mike Coner, President of ezGreen stated, “the endorsement from an established and experienced medical doctor of the stature of Dr. Ward is a validation of everything ezGreen represents. HIPAA compliance is on its way and we are ready.“
Compliance is a major issue for cannabis dispensaries and businesses that collect confidential patient information as fines arising from violations of HIPAA can be significant. Depending on a dispensary’s level of negligence, fines can be as high as US$50,000 per violation for a maximum penalty of US$1.5 million.
“This endorsement from a respected medical professional further supports ezGreen as a “best in class” provider of compliant Point of Sale software,” said Andriyko Herchak, CEO of FinCanna Capital. “ezGreen delivers a “must have” solution that appears to be very well positioned as they begin their roll out in the Maryland market.”
Maryland's medical marijuana program became operational in Dec. 2017 recording more than 2 million transactions during the first year to total ~ $95 million in sales. That total surpassed first-year cannabis sales in Illinois, Massachusetts and New York, combined. An initial patient base of nearly 11,000 grew 191% over seven months, finishing out 2018 with more than 50,000 certified patients. State regulators expect the patient base to grow to 200,000. Maryland began medical sales with 10 dispensaries and ended the year (2018) with 71. (Marijuana Business Daily, Jan. 2019)
About ezGreen Compliance
ezGreen Compliance, located in Fort Lauderdale FL, provides through its ezGreen software technology, a proven state-of-the-art enterprise compliance and Point-of-Sale software solution for licensed cannabis dispensaries. Navigating through state-by-state license, tax and compliance issues has been challenging for the legal cannabis industry. ezGreen Compliance helps its customers comply with both the Health Insurance Portability and Accountability Act (“HIPAA”) and State Laws by ensuring patients’ confidential data is being handled properly, helping to protect from possible security breaches and financial and criminal liability resulting from potential violations. For more information around a HIPAA compliance strategy for the Cannabis industry, please visit www.ezgreencompliance.com.
About FinCanna Capital Corp.
FinCanna is a royalty company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. The Company earns its revenue from royalties paid by its investee companies that are calculated based on a percentage of their total revenues.
FinCanna’s scalable royalty model provides an attractive alternative or complement to debt or equity financing for its investee companies. FinCanna is focused on delivering high-impact returns to its shareholders by way of a strategically diversified investment portfolio.
FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
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Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the market for, and effectiveness of, ezGreen software, the ability of ezGreen Compliance to expand operations and generate sales and revenues, FinCanna’s ability to fund and source future projects, and FinCanna’s ability to earn and realize revenues from its investee companies. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.