LOS ANGELES, CA--(Marketwired - October 24, 2013) - MediSwipe Inc. (www.MediSwipe.com) (MWIP), the leader in Compassionate Care Technology Solutions for the medicinal marijuana industry, today announced that the Company has launched the first cooperative on behalf of licensed dispensaries, agriculture and grow operations in the state of Colorado. Those state approved operations qualifying for the program will pay MediSwipe a monthly fee starting at $499.00 and receive direct wholesale pricing on infrastructure costs and build out of operations through manufacturer relationships negotiated by MediSwipe.
"With continued regulation in Colorado and the tremendous surge in business expected through the recreational market here in 2014, the costs these businesses are left to deal with individually are extremely high. As a single dispensary or agriculture operation, you are left with annual licensing costs, taxes, and complete retail and infrastructure build out costs at retail prices. Through the MediSwipe cooperative Program in Colorado with plans to expand to Washington State, a single business can now have the buying power of 100, saving 30% to 70% on infrastructure and technology at direct wholesale and manufacturer pricing. We have already had the first 2 of 250 potential dispensaries in Colorado we now have relationships with seeking to join the program the first week of launch," stated B. Michael Friedman.
Those licensed operations in Colorado seeking application to join the new Medi-Cooperative may call the MediSwipe corporate offices at 248.262.6850 or email info@MediSwipe.com.
"With regard to our recent announcement of the corporate restructure and share consolidation of our Company, there has been much over reaction and unfortunate decline in our share price for an unknown reason. Simply put, the company could not survive or create meaningful value for its shareholders with an outstanding share pool of almost 500 million shares, equal to its authorized shares. We believe that this was a necessary move, although a hard decision, but one that would eventually allow us have a capital structure that would allow us to raise funds with reputable investment banks at a higher valuation and have shares available for merger and acquisition opportunities. The preferred shares to management have always been a part of this company since inception, and have been used for voting rights. To believe now that management would suddenly use the preferred option to dilute shareholders immediately simply goes against every trend that management has set forth since taking control of this company over the last three years," further stated Friedman.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions and is the leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides terminal-based service packages and integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and Accounts.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.