YiLoLife, Inc. - Commentary and News - January 31, 2017

Largest U.S. Banks Host Accounts for Marijuana Businesses, Says American Banker

Palm Beach, FL --January 31, 2017 -- A recent study1 commissioned by industry journal American Banker reveals that the nation’s four largest banks have opened accounts for pot shops and marijuana-related businesses. This is good news for companies like Cannabis Science Inc. (CBIS), Eco Science Solutions, Inc. (ESSI), Medical Marijuana, Inc. (MJNA), Marijuana Company of America Inc. (MCOA), mCig, Inc. (MCIG) and YiLoLife, Inc. – all of which provide a variety of services or interest to the marijuana community and would benefit from commercial banking services.

Conducted by MRB Monitor, a firm that helps financial institutions identify the risks associated with the marijuana industry, the study examined public records in the state of Massachusetts and found that 34 percent of businesses that filed to operate medical marijuana dispensaries in Massachusetts between June 2015 and September 2016 had one or more accounts at Bank of America, Citigroup, Wells Fargo, or JPMorgan Chase.

If a similar pattern of working with the marijuana industry takes hold in Washington D.C. and the U.S. states that have legalized marijuana, the prospect of financial services for cannabis outfits may not be as dire as it at first appears.

Bank of America seems to have been the most accommodating. Over half of the marijuana businesses included in the survey had accounts at the bank, though it previously told the Statesman Journal2 that “as a federally regulated financial institution, we abide by federal law and do not bank marijuana-related businesses.”

Guidelines issued by federal authorities in 2014 appeared to have offered financial institutions a legal avenue to provide their services to marijuana-related businesses (MRBs). Back then, the Financial Crimes Enforcement Network (FinCEN), part of the U.S. Treasury Department, provided guidance3 it said was meant to “enhance the availability of financial services for, and the financial transparency of, marijuana-related businesses.”

Yet, under the Controlled Substances Act (CSA), it is illegal to manufacture, distribute, or dispense marijuana, and marijuana - like heroin, LSD and ecstasy – remains a Schedule 1 substance under the statute.

In December 2016, U.S. Senator Elizabeth Warren, D-Mass, a member of the Senate Banking Committee, along with nine other senators sent a letter to FinCEN requesting guidance on how banking services might be offered to “indirect businesses” that “provide services to the state-sanctioned marijuana industry.”

Hopefully, after nomination season comes to a close, a response to that letter will be forthcoming; there’s a lot at stake. As ArcView Market Research wrote, “Cannabis is arguably the fastest growing industry in the world. Regulated marijuana sales in North America totaled $6.9 billion in 2016, a 30 percent increase from 2015. Sales are projected to increase to $21.6 billion by the year 2021 representing a 26 percent compound annual growth rate.”

YiLoLife is gearing up to reap this burgeoning marijuana harvest. The company recently offered up to 5 million shares of its Class A common stock, at a price of $3.28 per share, under a Regulation A+ filing. YiLoLife plans to use some $12 million from this share offering in adding capital assets, as well as toward the acquisition and development of cultivation, food processing and distribution facilities. A further $1.5 million will be expended on equipment, furniture and fixtures and $1.0 million will go to improve security. The remaining $1.9 million will be allocated toward bolstering working capital.

Other industry players are also positioning themselves. Cannabis Science (CBIS) is a biotech company that discovers and develops novel cannabinoid-based therapies to those critically in need of new treatments for life threatening and debilitating conditions. Eco Science Solutions, Inc. (ESSI) is a Hawaii-based technology company targeting the multi-billion dollar health and wellness industry.

Marijuana Company of America (MCOA) is a marketing and distribution company that plans to deliver all the benefits of cannabis by providing a wide range of services for cannabis businesses and entrepreneurs. The company focuses on leisure, wellness, health, and beauty-specific cannabis products.

And last but not least is mCig (MCIG). Driven by a management team with over 75 years of combined experience, this is a company that provides turnkey, durable, modular, ISO clean, high-yielding cultivation rooms to marijuana growers.

*Sources:
1. American Banker http://dtn.fm/VAWa8 
2. Statesman Journal http://dtn.fm/coPF7
3. FinCEN http://dtn.fm/SB8p6 

For more information on YiLo please visit the company’s crowd-funding page at http://www.yilo.com/stocks2850

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Source:  Dreamteamnetwork.com

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RECENT YILOLIFE DEVELOPMENTS AND ARTICLES

YiLoLife, Inc. Public Offering Gives General Public Ground Floor Opportunity to Invest In Legal Marijuana Market, Expected To Jump From $7 Billion to $40 Billion Over Next 5-10 Years

January 9, 2017 - YiLoLife, Inc., an expanding company providing management and support services to the legal medical marijuana (MMJ) industry, is now open for investment to the general public through an SEC approved Regulation A+ public offering. This represents a ground floor opportunity for investors as the first in three planned investment rounds:

1.First round is now approved by Security Exchange Commission with limited 5 million YiLo Shares for first public offering with a share value of $3.28

2.Second round with an approximate share value of about $8 – $10

3.Third round with an approximate share value of about $15

Arizona based YiLoLife was founded to address a significant unmet need in the medical marijuana industry. Products were being produced and sold with little concern for taste, proper standards, and selection. The fast growth of the MMJ market allowed lax quality, with businesses making money in spite of weak products. The YiLo™ brand was created to upgrade all aspects of the industry and its offerings. Today, the YiLo™ brand represents the top-of-the-line in product and operational quality, offering over 600 MMJ products and attracting a loyal customer base. With German quality standards ensuring consistent medical levels, and unsurpassed taste quality, it is now the fastest growing seed-to-shelf marijuana-related brand in Arizona. Natural Relief Clinic, Inc. (NRC), YiLoLife’s exclusive client, markets YiLo™ products through specialized dispensaries across Arizona and its MMJ YiLo Superstore located at 2841 W. Thunderbird Rd in Phoenix. In addition, YiLoLife intends to natively replicate its model by contracting with newly organized non-profit MMJ organization(s) on an exclusive basis, beginning with California.

This first round mini IPO-style public offering, under Regulation A+ of the Jobs Act, targets a $16.4 million fundraise, with net proceeds to be used for acquisition and development of cultivation, food processing, and distribution facilities, as well as for working capital. The offering gives the general public the opportunity to invest in YiLoLife’s rapid growth in providing services to the legal marijuana market, which is on pace to become one of the fastest growing industries in the United States.

See the YiLo crowdfunding platform at http://www.yilo.com/stocks2842, and the YiLoLife website at www.yilo.com.

Source:  YiLoLife, Inc.

YiLoLife, Inc. Supporting Arizona Bill to Legalize Recreational Use Despite Failed Vote

December 29, 2016 - Last month, Arizona narrowly rejected an initiative to legalize recreational marijuana use, but supporters of legalization are not discouraged by the failed vote and are already mobilizing to find alternative ways for the substance to become fully legal statewide. While a new proposition is being drafted for the next election, an Arizona lawmaker is considering a different approach that would get recreational marijuana use legalized through the state legislature, if successful, according to the Tenth Amendment Center blog.

The bill was prefiled for introduction during the 2017 legislative session by Rep. Mark Cardenas (D-Louisville), and if it is passed, it would mark a big step toward virtually annulling federal cannabis prohibition as well. Cardenas’s House Bill 2003 (HB2003) shares many similarities with Proposition 205, which was rejected in the November election by a narrow margin: 51.32 percent voted against recreational legalization and 48.68 percent voted in favor. Prop 205 was sponsored by the Coalition for the Regulation of Marijuana like Alcohol and supported by several dispensaries, medical marijuana manufacturers and other organizations, including YiLoLife, Inc., a holding company. The YiLo™ branded product line represents popular, top-quality MMJ products.

If successful, HB2003 would allow any individual age 21 or above to possess, use, display, purchase, consume or transport up to one ounce of marijuana, or up to five marijuana plants and the cannabis produced by those plants at their location. Additionally, any individual over the age of 21 would be permitted to transfer up to one ounce of marijuana and five immature marijuana plants to another person of legal age, without remuneration. The bill would also allow any individual of legal age to assist another person who is at least 21 in any of the acts listed above.

Furthermore, the bill would enforce an excise tax of $50 per marijuana ounce, with half the revenue so collected going to the general fund and the other half going toward health and educational programs. The Department of Health Services would be tasked with regulating the recreational cannabis industry in the state, while marijuana retailers and vendors would be required to register and get local and state officials’ approval for their business locations. Under HB2003, if any individual under 21 is caught possessing up to one ounce of marijuana, they would be required to either pay a fee of up to $300 or take part in a diversion program.

If the bill is successful during next year’s legislative session, Arizona will be the first state to legalize the recreational use of marijuana through its legislature instead of a ballot initiative process. In addition, passage of the bill would basically nullify the current federal prohibition on marijuana, with the Drug Enforcement Agency still listing cannabis among Schedule I controlled substances. Several states are already ignoring the prohibition, as more than two dozen allow medical marijuana use and eight others allow recreational use, as well.

In Arizona, YiLoLife remains a staunch supporter of legalization, constantly committed to educating the general public about the benefits of marijuana. The YiLo™ brand now offers an impressive, award-winning line of more than 600 medical marijuana products, available for patients suffering from various ailments, from glaucoma and Hepatitis C to cancer, HIV/AIDS, Alzheimer’s, Chron’s disease, PTSD, Amyotrophic Lateral Sclerosis and more.

Source:  YiLoLife, Inc.

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