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.
Nice letter but tell me one thing you learned about the company from this letter that hasn't already been released as a or by the company and dissected by this board.
Didn't you find it odd that Goh didn't disclosed how many shares had been added to the O/S count from toxic financing. Of course he didn't say a thing because investors would flee from this stock if he did .
Everything is great at Medbox so that's why the stock has fallen to 13 cents. Management will continue to receive big salaries until there is no more money. Buy at your own risk.
Wow....where did all the posters go?
I see some claiming they sold at .20 and above days after the fact...
How is that insider doing again? Down over 40% again.
I see Dr. Bruce sold more shares again. Guy doesn't even realize he owns less than 10% of O/S by now....probably less than 4% using companies latest published figures and probably 1% if you count toxic shares.
Off by just a little....
0.174 which will probably be the hod.
<Time has come for another big week, MDBX to open at $0.22 tomorrow!>
Someone tempting fate with a 1.5 million share purchase between .14- .16 . Or that could be our seller again with a avg volume weight trade .
First significant attempts at buying coming in at .16 level . Appears to be one of you guys taking 100K share stab at it. Probably too early as others appear to be in a selling mood.
Time for all posts about claiming to sell in the .20's to start appearing.
Looks like a few people are having "ah ha" moments realizing that 200 million shares are coming into the float.
Another group of bag holders created in the .20 - .30 cent range.
Go back a few thousand posts for that discussion .
You do realize that they gave up on the vending machine business. After dozens of PR's and roadshow a they ended up selling only one machine. In fact the phony booking of revenue from "vending machine sales" is what got them into the mess with the SEC and the Grand Jury in the first place .
Speaking of which, I wonder if this renewed speculation in Medbox will prompt either parties to provide an update.
Based on the two 8-k's recently file Medbox is raising $5 million cash for "general corporate purchases" at a cost of 200-220 million shares. Good deal for the company, bad deal for shareholders.
Conversion price is 49% discount to the lowest volume weighted average price over the past 30 days which is around 5 cents.
I hear ya...were those voting shares before or after Vinny shares were retired?
This is how money gets siphoned out of company under the umbrella "used for corporate purposes".
Speaking of which... That 49% discount to volume weighted average prices Toxic financing should be getting executed any time now and those .03 shares will get sold into the market at .11-.12 or whatever the price happens to be.
But let's just ignore this as it means nothing to flippers.
Those who bought at $1, .50 cents, .38 cents like Zues all the way down to 5 cents.....depends on your entry point . I know most people here are in for a flip....nobody stay for more than a few days when this stick has it up days.....news ain't important...what's important is that you are not the last one standing when the chairs get pulled away.
The sAme insider who is down 50 to 90% on all the other penny stock companies of which he is the director of.
I'm sure those shareholders followed blindly as well.
Will be interesting to see who the next set of bag holders are as this type of move attracts everyone in penny land who throw money blindly at the mono stocks of the day. Everybody wants to believe the news is good until you read a little deeper.
Good luck to all.
It all comes down to revenues for Medbox now......they generate $30 -50 thousand per quarter with Vape and they have now promised revenue by end of this year for rental of Colorado land and then early 2016 with royalties and other stuff from cultivation of crop. Lots of promises but one thing is certain......costs will continue unabated.
Read the full filing....
Vinny essentially voted and approved this deal while he had majority control on 8/21. He had no other options since the board was all over him for trying to sell his stake on a business for sale website. On 8/25 after getting his cash he relinquished his rights to majority control.
Vinny and Bruce are now officially out of the picture although they still own shares. The next big problem IMO is Siegel. It's never what it seems to be with Medbox. Connections are helpful but at what price?
So many odd statements in that PR from Vinny......"hasn't been part of Medbox for a year"....guess he forgot about trying to wrestle control back away from the CEO he hired and the filing of SEC documents.
The whole "token of my appreciation" stuff is sickening. All this does is take funds that Medbox received thru it's registration statement and divert them early to "corporate purposes" , mainly Vinny's wallet. As usual none of " other people's money" is going towards growing the business. It goes to pay salaries, consulting agreements, severance costs, and litigation fees.
Appeared to be about 1.5 million share weighted avg sell reported at end of the day.
Great, another consultant! Wonder how much he is going to cost? Won't be cheap.
<I'VE ONLY BEEN IN THE TRADING GAME FOR 20 YEARS.>
But you profile says your are 23 years old.
Which statement is the lie?
Let's see.....payments to many current and former board members due at end of month....4 business days to settle....yea I'd say the company needs to be selling shares to raise all that money.
The purpose of MyOpinion regurgating every single Medbox PR is to 1) clear out the first page of the board and replace it with positive posts....2) lure in unsuspecting newbies....3) bore the heck out of all the readers because some the PR posts are years old and 4) see 1 and 2 .
Seen it all before.
Big seller only sold about 750,000 shares today...,come on board longs you need to buy more....,
Go back and read all of Janice"s posts and you can get a good idea why you should avoid this stock. However if you are like many on this board that insist you know more about speculative behavior in pennies then go right ahead and join the pain experienced by others.
Vince continues to put his priorities first over the company's obligations by sucking more money out of the company. It appears Siegel is letting him do this too with no opposition. Why? Because IMO Siegel has do the same things in order to get his money. Medbox has a wolf disguised a sheep now running the henhouse.
Whomever screams the loudest at MDBX gets what they want. Vinny vs Siegel must require earplugs!
Dr. Bruce is no longer with the company. Last I read he was a consultant with Affinor Growers in Canada,,,,depending on the month....and when the paychecks come through.
Given this Director's purchases in other penny stock companies that he is involved with, I can see how you can come up with that conclusion. What if, allegedly, there was some deal between the large seller and this director where the director is guaranteed to be reimbursed for his "losses"? Highly illegal but who would ever know unless one of the parties had loose lips. The Director's track record on pennies is so bad that it makes you go "hmmm".
You don't see the other major insiders in the company buying shares do you? You would think that this Director would have tried convincing them to buy? After all they have the same access to information, right?
Zues leaves and MyOpinion appears...not fooling anyone....btw the high volume multiple posting is an attempt to get MDBX on the iHub most active posting boards so more people will post here....and so on and so on....all imo.
Those that criticize the company on this board don't have to do much except interpret the gosh awful news the company has disclosed in the past 12 months...occasionally we find things that the company has not released that are downright embarrassing .
Those that criticize us are not taking responsibility for their own losing speculation. Sometimes you got to man up and admit that you are wrong and stop blaming others.
If you really truly knew about the company this would probably be the last place you'd want to invest.
<a 49% discount to the lowest daily VWAP (as reported by Bloomberg) of the Common Stock during the 30 trading days prior to the conversion date. >
Longs...,Think about this when you are buying the stock hand over fist!
Possible reason for the movement today. From the recently filed 10-Q:
Securities purchase agreement
On August 14, 2015, the Company entered into a Securities Purchase Agreement whereby the Company agreed to issue convertible debentures (“August 2015 Debentures”) in the aggregate principal amount of up $3,979,877 to fund in up to 11 tranches. The initial closing in the aggregate principal amount of $650,000 occurred on August 14, 2015. The second closing in the amount of $185,000 will occur on August 28, 2015, the third closing in the amount of $125,000 will occur on September 4, 2015, the fourth through seventh closings will be in the amount of $60,000 each and will occur beginning on September 11, 2015 with the remaining 3 closings occurring every 2 weeks thereafter, the eighth closing in the amount of $250,000 will occur 3 days after the filing of a registration statement, the ninth closing in the amount of $250,000 will occur 8 days after the filing of a registration statement, the tenth closing in the amount of $1,278,877 will occur within 3 business days of the effective date of the registration statement filed by the Company for the resale of the shares of common stock issuable upon conversion of the August 2015 Debentures and the eleventh closing, at the sole option of the purchaser in the amount of up to $1,000,000 will occur by October 15, 2015. The August 2015 Debentures bear interest at the rate of 10% per year. The debt related to the first tranche is due August 14, 2016.
The August 2015 Debentures contain the following significant terms:
All amounts are convertible at any time, in whole or in part, at the option of the holders into shares of the Company’s common stock at a conversion price. The conversion price is the lower of (a) $0.75, or (b) a 49% discount to the lowest daily VWAP (as reported by Bloomberg) of the Common Stock during the 30 trading days prior to the conversion date.
The Company may make the amortization payments on the debt in cash, prompting a 30% premium or, subject to certain conditions, in shares of common stock valued at 51% of the lowest volume weighted average price of the common stock for the 30 prior trading days.
In connection with each of the purchase agreements, the Company entered into a registration rights agreement with the respective investors, pursuant to which the Company agreed to file a registration statement for the resale of the shares of common stock issuable upon conversion of, or payable as principal and interest on, the respective debentures, within 45 days of the initial closing date under each agreement, and to have such registration statements declared effective within 120 days of the initial closing dates of each purchase agreement.
The listing says it's "off the market".
Vinny's ad has been removed.
My guess is the company forced him to take it down.
Just re watched American Greed episode : Wolf of Wall Street .
The Medbox pump and dump reminds me of many of the stocks that were pushed by Stratton...complete with all the "rat holes".
From what I can tell Vince is no longer officially involved in the business. The company was unaware of this listing . Another VM ploy to get something for nothing imo.
This listing is so great in oh so many ways. Thank you very much for posting it.
The company has already had to issue a clarification to their land purchase PR:
http://finance.yahoo.com/news/medbox-issues-clarification-amplification-purchase-210500146.html?.tsrc=applewf
Based on information contained in this revision I agree with an earlier post that Medbox was saving another party from a failing transaction . Whomever this "grower" is likely has a related party connection we just don't know about yet. Jmo.
You mean for the ONE box they sold?