Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I googled that name along with Medbox and nothing shows up except of course this board. Speaking of boards... I am bored now.
"Perhaps Vinny can tell us about his relationship with Dennis Caroni LOLX100"
Actually, why don't you since you purport to know so much about someone I doubt you have ever met. Go on then, explain the connection to the person above.
Yah SEC, put this scam very berry juice box out of its misery so the shorts don't lose lil' Samantha's college fund.
To date, I have seen no evidence of impropriety by this company. It's a risky investment and the company has said so, but all this talk about scams for no reason makes my stomach turn.
"Capri-sun style"
The juice is loose... Clearly. Lol
Now that's a stretch...
"Considering Vinny's history, the Dennis Caroni connection and few other things you can bet some of the folks involved in the stock are at most one person away from organized crime. It is very common in these stinky pinky promotions."
Wow... Shorters are feeling a bit of a sphincter tightening at present. Lol
I see a lot of "not compensated" and "image compensations" which is nothing to write home about. Nothing here. Also I was referring to the supposed "pump site" set up by the company.
In any event, opinions are opinions and everyone is allowed one. My opinion is that this company has not gotten a fair shake here.
I have looked at their PRs... I wouldn't consider the one today fluff although you might. A Pew report as to national shifts in attitude towards the drug this company is trying to help regulate is newsworthy IMO
"They are telling us the patent is worth nothing"
I don't think people that are interested in the stock see it that way. I can see how someone that has a short position would though.
"Very few are stupid enough to not see this is a sleazy promoted pink"
So who promotes this company again? As far as I can tell, it's been the media. I estimate Medbox has received millions of dollars worth of free press they didn't have to pay one red cent for. So that's a sleazy promoted stock right? Lol. Please don't bring up that lame website again, new era investments, or whatever they were called. I've looked at web traffic and there is nothing there. So where is the sleazy PR/IR firm in this mix? Isn't that a key component in a stock scam?
Looks like the company valued the patent at less or zero so they wouldn't get hit with an amortization hit on P&L's every quarter. Smart move...
I don't see it that way. Neither do investors that have the stock up today on strong volume. On the other hand you have already stated you are short in this stock, hence all the opinions as to how they are a "scam". Time will tell if you are right. You are in a minority that think this company is a "POS". Lol
That's a well thought out answer. I will say that no one can cast a death nail on this company as a scam if they chose an auditor way back when and the auditor had a civil charge pop up after the engagement. It truly looks like the company was in fact blindsided by that news. Hence the second auditor being engaged. Also, the company's control peeps don't appear to be enriching themselves at all. Although, that will disclose itself over time I imagine. The signs are just not there.
Wow, you are right. Pew Research announcing findings that directly effect this company's business moving forward is fluff! Lol. Talk about missing the point.
"sorry but fraudsters don't file the required rule 144 forms"
Sure, the "fraudsters" in this stock publicly announced that they were going to, then announced that they were not going to. Sorry, doesn't make sense
"Secondly, the stock is manipulated daily. Buys in the am to mark it up, trades in a tight range and bs news almost daily and in response to ihub posts. And on top of it all, boxed."
Would you be willing to admit that there is a slight chance that the company might not be in on the market manipulation you speak of? Day traders are making a market out of this stock and have had success at it. The company telling investors in press releases at the initial pop is a big clue here. But then, are they just supposed to forget that their ridiculous market cap exists, or use it to build the company. I'm just saying that your explanation isn't the only answer available.
This is a fair question. While I don't trade anymore... I know when I did, TA's would not give share count info typically. That can be viewed as selective disclosure and if I were in that business (Transfer Agent), I would probably have a policy not to give it out. Out of curiosity, which company's TA that you deemed to be a legit pubco, wouldn't give out details?
All I know is this company will either continue to succeed or flop sometime during this year. They are building their infrastructure very broad and that could backfire on them or it can allow them to inherit their inflated market cap. I, unlike some here, have not seen a shred of evidence that the company or its major players, have acted in a way to hurt the company or its shareholders. I see no evidence of scams. I do see a lot of mistakes that are inherent in pink companies. I'm hopeful they will continue to learn and get their act together.
They also PR'd that the plan to sell affiliate shares was aborted. Short of a 144 filing no broker would sell those shares. Anyone find a 144 filed for Vinnie?
So what you are saying is that no matter what the company does it is still a scam. Fully reporting with the SEC, audited financials... Still a scam. Wow, so all pink sheet stocks are scams... Noted. Disagree, but noted nonetheless.
All I'm saying is the company could have done far more to capitalize on their 15 minutes of fame, but they didn't. Hard to argue with that. Instead they list a founder with a spotted past and don't hide him like a scam company would do and further announce plans to go fully reporting. The company got famous while pink. They had no real motivation to go fully reporting if they wanted to perpetrate scams. It doesn't add up. Now if they don't file their form 10 then I would absolutely say it was all smoke & mirrors.
Missed the point completely. If selling shares is their scam apparently they are doing it wrong! Lol
"That's funny - why would you think I would be interested in buying shares of a company showing this many red flags? "
"Oh and I do believe they are selling shares - thanks for validating that."
That's funny. I called in just to see if I could buy shares direct and they said no. Have you tried?
And yet, still no response as to why the scam company only interested in selling its shares would choose to file a form 10 instead of an S1... Form 10 the company can't sell immediately free trading paper while an S1 they can. Sounds like a perfect play for a scam company. Yet, they didn't.... Hmm?? Weird!
Wrong. A company can ALWAYS sell its shares without the Form D. However, the Form D is a requirement if the company plans to make a bona fide offering of securities. The point was to allow you to see that the company made no secret that it was selling shares in 2012 and even offering them in a Form D by May 2012. Shares could have come off restriction at any time thereafter from prior management issuances, etc.
It makes no difference to me. I heard this board was entertainment and its true. I don't play the markets at all... Been following this company for a while. Don't agree with all they do but they definitely aren't sinister either.
So a Form 10 and audited financials would quell concerns about this "POS scam" right? So when the company does that what's the next measuring stick? Are they still a scam if they prove they are a real company and not just trying to sell shares. Any mention here of a Form 10 in lieu of S1? Seems like a more credible choice. Or do you not see a difference?
We'll see if the company stands tall or takes a seat. It's all going to be clear in the company's actions over the next few weeks. Lets watch and see!
Ofcourse. Every detractor is doing it for the good of mankind and every supporter is perpetrating a scam! Yes, makes perfect sense! Lol
Yah, that's right. Every supporter here must be affiliated to the company. Sounds plausible.. Lol
And it implies guilt that more shares are in the float? Not quite. See, any public company can sell restricted shares to accredited investors after filing a Form D with the SEC. It so happens that Medbox did just that, in a public filing, early last year, way before the "pop" in their price and awareness of their small company. They could have been selling restricted shares anytime after that filing early last year. The timing is not a coincidence that more shares are in the float now at all. Anyone can see that clearly.
Like I said, if shares were issued in the 4th quarter of 2012 they would be restricted for a year. That means that this theory doesn't quite fit. Moreover, there was a press release the company issued that stated that the founder returned over 550,000 shares to treasury to support acquisition activity in first of the year. That coincidentally aligns with the share count listed on OTC Markets website and the disclosure statement filed for that period.
What a scummy guy! The founder gave back shares to the company to fund acquisitions without diluting shareholders. Scam company ... Lol
Any facts to support this hypothesis? Yet, the way the stock has traded since November does not indicate dumping of shares. Keep in mind that the company's status requires a one year hold time on any company issued shares. The theory needs work.
So which one is it? Was Vinny a mastermind that planned this whole thing out and by some accounts is just a poor PB&J'er. Is the media in on the scam too? Or is the company real and just trying to make its way legally and ethically? I know what I believe and the proof shall be very apparent in due time I'm sure.
Wrong. The firm checked out fine. From what the records show the firm was charged with an offense unrelated to Medbox after Medbox engaged them. So anyway, thanks again for the hard work. You did the company a service. :)
and you are happy with these financials audited by a firm that has been charged recently with fraud by the SEC?
these financials prove that scam company MDBX filed false and misleading financials with otcmarkets.com.
No evidence of that at all
Where is the letter from the Auditor signing off on the audited financials?
The company answered that in the press release
Where are the all-important Notes To the Financial Statements?
Again, answered in the press release
Why is the convertibility feature of the Convertible Preferred Stock not even mentioned?
That would be in the notes I'm sure. It's mentioned 20 times in the company's information statement
More than $1.0 million of revenues disappeared from the previous 2012 Income Statement - from $4.5 million to $3.5 million, a difference so substantial that the previous figure would be considered fraudulent.
Revenue counted towards Q1 2013. Again in press release
2012 Net Income dropped an incredible 63% from $0.881 million to only $0.328 million, a difference so substantial that the previous figure would be considered fraudulent.
Carried into next quarter. Duh!
An asset - the patent - which was booked in the balance sheet at $950,000, just disappeared - poof, gone, no patent.
Looks like they wrote it off to save on amortization. Smart!
Total Assets dropped an incredible $1.4 million, or 29% from $4.960 million to only $3.513 million.
The all-important Stockholders' Equity dropped 56% from $3.1 million to only $1.36 million. An incredible $1.7 million in Stockholders' Equity disappeared. Poof, gone.
The the 3.0 million shares in preferred stock are finally in the Balance Sheet, further proving that the previous financial statements were false and misleading and going against what the founder and controlling stockholder P. Vincent Mehdizadeh had stated that the issued and outstanding preferred stock should not be included in the balance sheet of a company.
Nope. The same way you knew about them in the first place is the same reason why it wasn't concealed. It was in the information statement.
Yes, these alleged "audited" financials only prove that the previous financial statements issued by scam company MDBX were false and misleading to the point of being fraudulent.
"because this is what scam companies do! "
Wrong. A scam company would file their Form 10 with a dirty auditor and not care at all. If they choose to get another audit... I would say that answers any doubts as to this company and its motivations.