GT Legend Automotive Holdings, Inc. in Conjunction With Compassionate Therapeutic Solutions, LLC Gains Credibility Subsequent to
05 Maio 2010 - 4:15PM
GT Legend Automotive Holdings, Inc. (Pink Sheets:GTLA) in
conjunction with Compassionate Therapeutic Solutions, LLC, reported
today that on April 20, 2010, the Colorado House passed a medical
marijuana bill (#1284) that placed strict regulations on the
medical marijuana industry.
Under the bill, the Department of Public Health and Environment
will promulgate new rules related to standards for issuing registry
identification cards, documentation for physicians who prescribe
medical marijuana, and sanctions for physicians who violate the
bill. Compassionate Therapeutic Solutions is in compliance with all
the regulations set forth in the bill, thereby increasing the
center's credibility (Source:
http://www.leg.state.co.us/CLICS/CLICS2010A/csl.nsf/fsbillcont3/0C6B6577EC6DB1E8872576A80029D7E2?Open&file=1284_ren.pdf).
CNBC estimates that the marijuana industry is a $40 billion a
year market (Source: http://classic.cnbc.com/id/36331495). Medical
marijuana is legal in 14 states: Colorado, California, Vermont,
Washington, Alaska, Montana, Nevada, New Jersey, New Mexico,
Oregon, Hawaii, Maine, Michigan and Rhode Island. Ballot measures
or legislation allowing medical marijuana are pending in 14
additional states including Alabama, Delaware, Illinois, Iowa,
Kansas, North Carolina, Pennsylvania, South Dakota, New York,
Missouri, Maryland, Massachusetts, Tennessee and Wisconsin (Source:
www.usatoday.com/money/industries/health/2010-04-20-medical-marijuana_N.htm).
The state of Colorado receives over 1,000 applications per day for
authorized marijuana permit cards, yielding $90,000 per day in
revenue from the registration fees (Source: Green Rights Radio
101.5, Denver).
Eugene Espinosa, President of Compassionate Therapeutic
Solutions, commented, "The Huffington Post stated in an article
that reactions from the medical marijuana community were varied
with regard to this bill. The Cannabis Therapy Institute called it
a 'monstrosity,' while Sensible Colorado called it 'a step in the
right direction.' We agree with the latter. We are an upstanding
medical center staffed with licensed therapists and professionals
who are prepared to offer the best possible care to our patients.
While this bill may cause some centers to close, it will allow us
to stay open due to our professional standing by licensure in the
field." (Article Source: "Colorado Medical Marijuana Bill Passes
House on 4/20, Moves to Senate for Approval", Posted 4/21/10,
www.huffingtonpost.com).
About Compassionate Therapeutic Solutions, LLC: Compassionate
Therapeutic Solutions, LLC is a multidisciplinary behavioral health
care practice that offers mental health, substance abuse and
primary caregiver services to communities of Colorado. The
company's focus is to provide cost-effective quality treatment and
to create, promote, and maintain a positive customer relationship
with clients, associates and the community. One of the functions of
the clinic is to provide comprehensive care to individuals who are
registered and authorized to utilize medical marijuana.
Forward Looking Statements: This press release contains certain
forward-looking statements. Investors are cautioned that certain
statements in this release are "forward looking statements" and
involve both known and unknown risks, uncertainties and other
factors. Such uncertainties include, among others, certain risks
associated with the operation of the company described above. The
Company's actual results could differ materially from expected
results.
CONTACT: GT Legend Automotive Holdings
Investor Relations Department
303-526-9315
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