PHOENIX, May 18, 2012 /PRNewswire/ -- Altitude Organic Corporation, a subsidiary of Tranzbyte Corporation (ERBB (OTC:PK), announced today that its corporate president, David Gwyther, has determined that conflicting federal and state policies continue to cloud Arizona's (and other state's) dispensary initiative process. Because of the current conflicting state and federal rules, Altitude Organic has been developing new and more effective strategies aligned with the needs of successful dispensary owner applicants following their certification by the states allowing the distribution of medical marijuana.
Mr. Gwyther states, "Focusing the company's resources on dispensary owners who have successfully navigated through the licensing process enables us to enter business relationships with a greater number of locations and exploit future opportunities coast to coast. Federal law still unrealistically lists marijuana as a Schedule 1 narcotic – in the same class as heroin. Although various initiatives are underway to change this, the US Department of Justice continues to prosecute dispensary owners in states authorizing its sale." (http://www.thedailychronic.net/2012/9464/feds-threaten-50-more-california-dispensaries-given-2-week-deadline-to-close/) A strong majority of Americans favor the legalization of medical marijuana. (http://www.usnews.com/news/articles/2012/05/17/americans-support-ending-federal-crackdown-on-medical-marijuana).
"In addition to the justice department conflicts, the Internal Revenue Service has gotten in the act and declared that dispensaries may not deduct the cost of growing (or the cost of their purchase) of marijuana when calculating their cost of doing business thus exaggerating the dispensary's profit and increasing its resulting tax liability," continues Gwyther. (http://bottomline.msnbc.msn.com/_news/2011/10/05/8153459-irs-ruling-strikes-fear-in-medical-marijuana-industry?lite)
In order to leverage the ambiguity in the current unstable dispensary marketplace, the company will endeavor to create supply relationships with hundreds of existing marijuana dispensary owners in all 16 states, rather than focusing on the pre-certification process in just a few.
One such innovative program in Altitude Organic's arsenal is its recently announced initiative called Zazzz™ - a counter-top display of highly unique products hand-picked specifically for the dispensary clientele. By first building profitable relationships with potentially hundreds of dispensary affiliates, the company will be able to leverage its position into future partnerships with some of the most successful ones. Quality dispensaries interested in learning more about becoming a Zazzz affiliate may contact Altitude Organic by calling its US headquarters at (480) 443-1600.
Tranzbyte continues to make headway in Hong Kong and China regarding its ProximaRF subsidiary and Tranzbyte division and expects to announce several significant trade relationships affecting its core group of companies and products this coming quarter.
ABOUT ALTITUDE ORGANIC CORPORATION
Altitude Organic Corporation www.altitudeorganix.com provides business product support services to independently-owned retail dispensaries in states that have approved the use of medical cannabis. AOC continues to drive innovation in the industry through its dispensary various services, point of sale and inventory management technologies, Zazzz™ unique retail product lines, and an growing family of brands designed to meet the demand of the burgeoning medical cannabis industry. Visit http://www.altitudeorganix.com today.
ABOUT PROXIMARF AND APPLIED RFID
Founded in 2006, Applied RFID and its operating subsidiaries, have a versatile and leading-edge portfolio of RFID reader, sensor tag and data logging products based on the ISO 15693 standard of high frequency (13.56Mhz) RFID.
The company has plans to increase its network of global distributors and value-added resellers. With its "Proxima RF" line of RFID readers, sensor tags, sensor probes and data logging products, the Company seeks out opportunities with partners who have a unique software offering within market verticals where the implementation of secure data collection and temperature sensing bring real and immediate ROI to users. These key markets include: food safety, cold chain logistics and healthcare/pharmaceutical as well as factory and field maintenance applications.
The Tranzbyte Corporation now becomes a driving force behind Altitude Organic Corporation. The company expects to continue its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as "dividend farming," Companies that qualify and decide to become public on their own will agree to carve out shares for Tranzbyte and their ERBB shareholders.
In February 2012, Tranzbyte acquired ProximaRF – a leading-edge company that produces a line of products supporting leading-edge RFID technology.
Tranzbyte also houses the company's 8-year-old technology division which is actively engaged in the sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum™ and FlixStix™ -- technologies that enable distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Company and Contact:
Victor J. Elias, President
ProximaRF Technology Holding Company
ProximaRF Corporate Office:
14220 N. Northsight Blvd.
Scottsdale, AZ 85260
SOURCE Altitude Organic Corporation