CARDIFF, Calif., April 19, 2011 /PRNewswire/ -- Rapid Fire Marketing (Pink Sheets: RFMK) announced an update to shareholders today. Rapid Fire Marketing has two wholly owned subsidiary companies. Medical Cannabis Management (MCM), which provides marketing, consulting and management services to the emerging medical cannabis industry in California and recently has been cleared through all legal channels to begin cultivation and growing of medical cannabis. Rapid Fire Marketing's second wholly owned subsidiary is Bioniccigs.com which is a retailer of electronic cigarettes and accessories.
Updates to each business are as follows:
MCM- In addition to offering Management Services, Marketing and Consulting to the Medical Cannabis sector, the Company has announced receiving legal guidelines to begin cultivation according to state laws. The company's business model is to network with the many cooperatives and dispensaries throughout California to provide the services and products they need. Additionally, MCM's management is looking ahead to find new ways to serve the medical cannabis business in any legal capacity.
This is significant because in a recent news article in Reuters, a study conducted by See Change Strategy for the American Cannabis Research Institute and Deal Flow Media, a financial research firm specializing in unusual assets, says 'that of the nearly 25 million Americans who are potentially eligible to use medical marijuana based on their diagnoses, fewer than 800,000 currently do.'
The report goes on to say that 'the U.S. medical marijuana market estimates the business already generates $1.7 billion in economic activity a year. But that market could grow fivefold in short order, researchers say, as the list of states that legalize pot for treating a variety of illnesses grows and as more patients try it and switch.'
Given this information, Rapid Fire Marketing is positioned well and early to establish rapid and long term growth in the medical cannabis business and significantly enhance shareholder value.
The Company's branded electronic cigarette "Bionic Cigarettes" is gaining recognition and increasing exposure throughout the United States. With the traditional cigarette marketing producing billions in sales annually, the electronic cigarette market is slowly gaining market share. As one of the top branded electronic cigarettes, Bionic Cigarettes are positioned for explosive growth and getting the attention of the traditional tobacco industry. Most sources believe that once electronic cigarettes gain enough market share, as to affect the sales of traditional cigarettes, that the tobacco companies will soon look to enter this market by buying out competitors with established brands.
"We see a lot of upside in our subsidiary businesses and we have seen significant growth in the marketplace over the last two weeks or so. It is important though, to stay ahead of the competition and outthink and outwork them to deliver on our goals for our companies and our shareholders," a Company spokesperson stated.
From time to time, the Company may issue news releases that contain "forward-looking statements" 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 may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
SOURCE Rapid Fire Marketing