Several variations of formulations are used as a water base solution to disperse oil soluble pharmaceuticals, including cannabis extract, suitable for use with a VMN. Common elements include added small amount of sodium electrolytes to facilitate the nebulization process and ethanol in controlled amount as needed to dilute or dissolve thick waxy substances such as found in some cannabis extracts. Surfactants, co-surfactants and/or emulsifiers to include but not limited to Acconon™, ethanol, hydroxylated soy lecithin and/or sodium lauryl sulfate are used. The ingredients are sonicated to obtain a uniform respirable liposomal suspension that could be delivered in low micron range using a VMN for efficient absorption into the blood stream by oral inhalation.