The following is a summary of the main events in the last few weeks:
MedBox filed its form 10 with the SEC in January and will be an SEC filer, with all the burdens and benefits resulting from that condition, from the middle of March 2014. MedBox issued a special stock dividend to shareholders and which was announced by FINRA on February 03, 2014. MedBox continues to accept customers licensing clinic in Nevada, Illinois, Colorado, Washington and Oregon. Executives of the company clarified its position on the restatement of financial statements that accompanied the registration statement form 10 filed with the SEC as a maturation process in becoming a Cabinet sec."The company undertook a project to bring the functions of accounting at home and during that long process we discovered some errors in accounting since then we have corrected the last financial statements included in the form 10. The point is to hit and be fully transparent with our stakeholders at all times,"said Vincent Mehdizadeh, Chairman at Medbox, Inc."the company has, as part of these corrections, instituted better controls over financial reporting to avoid major corrections. In addition, it is important to point out that revenues in the nine months of the year 2013 had increased during the comparative period of the year before (as corrected) and continue to add qualified people to accelerate our growth in the year 2014. Unfortunately, when you are the most visible company in the space, with a large market capitalization, you become a target."
Executives of the company caution the shareholders of the company while the media has been of great help Medbox as one of the only viable medical marijuana related to public companies, successfully there will always be opponents who publish deceptive and misleading articles about the company and its executives.In addition, company executives said that the company offers support services to the sector of medical marijuana based on the length of an arm. Many times in a State where you are accepting applications for marijuana dispensary licenses, some owners are not leased to nonprofit entities recently formed made up of clients of the company. As a result, in some rare cases, and simply as an absolute benefit to its customers, it was agreed that Medbox lease properties and assign all rights to the applicant, with the permission of the owner.
"We are going the extra mile for our customers and that is evident through our glowing testimonials appear on our web sites," said Dr. Bruce Bedrick, CEO at Medbox, Inc. "it is interesting, with the recent banking policy guidance from the federal Government, now can begin to develop an additional source of income to acquire properties and lease clients of clinic operator." This is one of many sources of revenue that Medbox is developing actively given the current climate and the relaxed posture federal".About Medbox, Inc.:
MedBox is a leader in the development, sales and service of systems of automated dosing and storage, biometrically controlled medicine and merchandise. MedBox has offices in New York, Arizona, Florida, and is headquartered in Los Angeles.MedBox offers its patented systems, software and consulting services to pharmacies, clinics, urgent care centers, clinics of rehabilitation from drugs, hospitals, prison systems, hospice services and medical groups around the world. In addition, through its subsidiary, Vaporfection International, Inc. (www.vaporfection.com), the company offers a medical product industry award-winning vaporizer.
MedBox, Inc. is a company that is listed and traded in the OTC symbol MDBX markets.Forward-looking statements: The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. These statements are based on current beliefs and expectations and are inherently subject to important business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future strategies and decisions that are subject to change. We do not assume any obligation to update any forward-looking statements to reflect events or developments then made a statement with a vision for the future.
For more information about Medbox, please contact us at (800) 762-1452 or visit www.medboxinc.com.Contacts:
Investor relations
Stephen Hart
Hayden IR
+ 1 - 917-658-7878
Hart@HaydenIR.com
SOURCE Medbox, Inc.
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