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Wednesday, January 26, 2011

Hits From The Bong; Cuttino Mobley In The Medical Mary Jane Business

Ex-Clipper Cuttino Mobley is an investor, he's investing in the business of medical marijuana. Mobley is listed as the sole financier for the Summit Medical Compassion Center a proposed medical-marijuana compassion center and looks to reap the benefits of those needing compassion. I mean the lines are getting longer and longer at these centers now whether they are licensed or unlicensed users in line is another story but there seems to be a profit in it, legally.

W. Zachary Malinowski of Provo.com has the details of the booming investment in Rhode Island...

According to Summit's proposal, Mobley has made a binding commitment of $4 million toward the compassion center. The lump sum includes a $3.5-million line of credit and a $500,000 equity contribution that does not have to be repaid.

Summit officials project that they will finish the first year with $2 million in cash, $9.1 million in year two, and $24.8 million after the third year in business.

On Feb. 7, the Health Department has scheduled a public hearing in its auditorium on Capitol Hill. The state is expected to select up to three compassion centers, with the first one opening as soon as late spring or early summer.

It's just great to hear retired players making sound investments with their stacks. Cuttino averaged 16 points per game over his 10 year career with 4 teams.


MattMan said...

Half of the NBA will sign up if it works for him but not to invest