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Meanwhile the company is thriving, stock is holding strong, and industry momentum is at an all time high. Keep the jibber jabber going. Looks like the company executives thrive on adversity.
Opinions of this purported "scam" are unsubstantiated and not supported by any logic. A penny stock scam is easy to pull off when the stock is in the pennies and can be easily manipulated up and down. This stock at $20 needs a ridiculous amount of funding to perpetrate a "scam" over almost a year now. Then you have the national momentum and a Gallup poll that is worth writing about since it gives an important and very real indication of what public sentiment is and as anyone with a brain has seen over the past year, MMJ stocks move based on perception and not necessarily business economics for these stocks. MDBX is blessed because out of all other MMJ stocks it has the least I/O and actual operations to report. Period... End of story.
Old news! MDBX is the most viable pubco in the space, by far. No one can argue with a business model making money, patented technology, national media exposure, and a high share price. Aces all around!
That article is a hot load of Garbágè. None of it makes any sense. Other dispensary applicants mad at competition and that's newsworthy? Lol
Meanwhile the main source of the article, Roddy Boyd, is about to be simmer sautéed in a stew of his own juices. Oh by the way, stock is up in case anyone cares.
Yes FTW, that is correct. It's called an expungement and in California, anyone that successfully completes probation on any offense qualifies for a mandatory expungement, or deletion of the record in its entirety. So, all Vinny has to do is keep his nose clean for the next few years and all of his prior convictions turn to pixie dust and disappear. Pretty cool that people don't have to wear a scarlet letter their entire lives if they are productive members of society. I'm all for it.
Wow... Vinny is gonna have a field day tearing this Roddy Boyd fellow a new one. The whole "non-profit watchdog" cover is laughable, as he is beneficiary to his short-selling-hedge-fund-daddy's multi-million dollar trust fund.
http://www.projectworldawareness.com/2012/05/the-story-of-deep-capture-and-this-is-just-phantom-stock-think/
SEC scandal concerning illegally conspiring to short a company's stock. The company that was the target sued Boyd and his co-conspirators.
http://nymag.com/news/business/52754/index3.html
Then there is of course his sorted dealings with a Bear Stearns insider
http://www.deepcapture.com/roddy-boyd-and-the-bear-stearns-insider/
This title is my favorite by far:
http://www.deepcapture.com/roddy-boyd-sucks-it-like-hes-paying-the-rent/
I smell lawsuit!!!! This is getting fun!!!!!
You obviously haven't done your DD on this company. They use their equipment like hospitals use a Pxyis system. Only accessible by staff. The Point of sale hooks into the machine which sits behind the counter and not accessible by patients directly. That's why I used them in Mass to file my dispensary application. They offer the best security and inventory management to bolster state dispensary applications for their consulting clients. Period...
If you still want to question why a client would want to buy into the Medbox philosophy, all you have to do is look at how they protect their clients by taking on jurisdictions for their clients in court and always WINNING!
Meanwhile, the alleged crooked company issues a press release last November when the stock hit a high of $215 per share cautioning investors not to buy their stock at inflated levels and to make informed decisions in buying their stock. I've seen no other company look out for retail investors like "Vinny" and the company did on that occasion. Then you have the fact that Vinny could have been dumping 144 shares legally into the market since January of this year yet he hasn't done anything of the sort. No 144 forms filed to allow such transactions although it was his legal right to do so. All seemingly to protect the share price and not milk a market that most people in his position would have in a NY minute. What a scumbag that Vinny. Lol
On the charity thing, I think it shows strong character. I also think it shows character that the guy didn't play the wizard of oz scenario, behind the scenes pulling the strings. He is the front guy on this and if there is Madoff style fraud going on, with the spotlight firmly on this guy, it's only a matter of time before it all comes down. I for one think the guy has an interesting story, which is why I became a client of the company in Mass. So far so good and the company hasn't failed to deliver a damn thing. Consider me an advocate for entrepreneurs.
Bottom line, no one cares about what someone allegedly did 10 years ago while working with some shady attorney from the sounds of it. Vinny took down $1 million in cash for selling his private company to the public company 2 years ago. He was also issued 2 million MDBX shares in the swap. He paid the law office clients from that money I guess. Furthermore, is anyone really saying that this company would have held up under the pressure of a 15 felony count trial? The guy took a token 2 counts that get expunged in a few years automatically. Sounds like a good deal to me and he saved his company from financial ruin.
You mean recent, as in 3 years ago and before he founded Medbox? Wow, someone needs to get their facts straight.
The kid is a multi-millionaire and has donated more to charity in one shot than many will in their lifetimes. Leave the guy alone.
http://finance.yahoo.com/news/medbox-founder-donates-charitable-organizations-142600052.html
Might as well send this one too. Sounds like the real story to me, but then again it's easier to hate isn't it?
http://m.prnewswire.com/news-releases/target-of-la-criminal-investigation-has-13-felony-counts-dismissed-and-walks-away-vindicated-217377731.html
Yes, Roddy Boyd will "fines" Medbox. Apparently he needs to update his Seeking Alpha bio to reflect he was given the ability by FINRA to exact fines on "scam" companies. LOL
The entire article on his "non profit" website is a farce and his recent rehash is done out of malice it seems. Sounds like he has opened up a can of worms on himself in all likelihood.
Sure, I assume there is no need to document who is getting mailed what in the courier system our friends in the north are trying to implement. The equipment does that with surgical precision and keeps operators in compliance.
The company makes consulting revenue on getting people licenses to produce. The equipment is used to inventory control what is then sent via private courier. Their press release didn't insinuate they were building dispensaries in Canada. So, actually you are mistaken. Technology and consulting has a place in every environment that is regulating MMJ.
That article is pretty comical to say the least. No one cares about rhetoric and sensationalized "journalism". It was going to all be in the book anyway so who cares?! FINRA?? Does the article point to the company engaging in any criminal acts? Nope, not at all.
That's funny. Comparing a voluntary payment versus a court-ordered payment is irresponsible. The founder volunteered a payment to resolve an alleged "criminal" act. Sounds dirtier for the prosecution actually. Lol
But why not take shots at the founder for donating to charities? He obviously cares about his image and is trying to make a difference. That's more than I can say about most public figures unfortunately.
Someone should sticky the charity work. It's impressive
Founder is awesome! Talk about lemons to lemonade. Donating to ASA, DPA, and St. Jude Hospital in one shot. What a scummy guy. Lol.... Keep throwing rocks! This guy seems to enjoy showing people up that doubt his integrity.
Oh, so I guess now my name is Karen and I'm a female. I guess I never made it clear that I'm a dude. Lol
In order to be viewed as competition, the "competition" would need to do more than hire paid promoters and issue press releases about their exploits without any real business to report. The big fat yield sign on Endexx's ticker tells the tale loud and clear. Both Medbox's and Endexx stock are overvalued but company to company there is no comparison as to which one is viable and which one is trying to get notoriety to pump their stock based on the others success. Much easier to manipulate at .10 stock than a $30 stock... You do the math.
The predictions are stretching out to 2103!.... Oh my! I say they nail a couple this year before they jump a century. Lol
Seeing as that the company is voluntarily opting to be an SEC filer, and as such, opting to be under direct FINRA scrutiny, it seems they know something you don't.... That they are CLEAN. Lol
Oh Goody! More fortune cookie messages!!
Confucius say buy low sell high. Confucius also say choom-boom make shorters have strong sorrow. Lol
That's rich! So the theory now is the company has hired 3 different penny stock promotion houses after a FINRA warning on the subject and their own company publicly stating that they don't have any type of promotion contracts and that they rely on the media to promote their company. Wow, truly a genius theory! Lets just ignore all sense and reason and defer to false statements and obtuse theories.
Wow, the Feds backed off of the industry, in totality. Looks like the founder instincts were dead on.
Wrong. If you take a look at the company's website they expressly state they do not take any consideration from companies they tout in their alerts. I don't see any reference to Medbox other than a three sentence mention between Medbox and this stock report service. Summary of what was said below:
"Medbox Inc(OTCMKTS:MDBX) closed yesterday at $27.80, a -10.32% decrease. Around 25,076 shares were traded, beating an-average trading volume of 11,603 shares. The company is now valued at around $458.02 million.
Medbox Inc. (Medbox) offers a machine that dispenses medication to individuals based on biometric identification (fingerprint sample).
Has MDBX Found The Bottom And Ready To Gain Momentum?"
Interesting theory... So you are saying that this company, that in the last 3 years has had revenue of $1.1m, $3.3m, $3.4m, and another $3m so far this year, totaling more than $11m since it began operations in 2010, doesn't have a single machine out in the field. Wow!! Thanks for blowing the lid off this farce. It makes so much sense now. MDBX is a $CAM!! Lol
Nope, detearing is right. Your source chopped off the subhead which read exactly as it was posted by the same person you insinuated was not being honest. Here is the actual release by the company:
http://finance.yahoo.com/news/medbox-posts-2nd-quarter-results-163000651.html
Incorrect yet again. The vast majority of attorneys don't touch medical marijuana consulting because it's an ethics violation to assist a client in anything that would violate federal laws. The few attorneys that do consult for MMJ clients offer application preparation but can give no insight into how a dispensary actually operates. Enter Medbox with its impressive notoriety, successes in Arizona getting clients 20 of the 97 licenses in that state, building those clients dispensaries, and also kicking that state department of health's arse in court because the rules were unfair to some Medbox clients that had landlords back out on them after state licenses were issued and would have lapsed (clients losing significant investments) had Medbox not saved the day by financing a legal challenge. So much is said here from the "experts" as to diminished returns for this company in posting its first quarter loss since the company began in 2010. Lets not mention that AZ lawsuit, and all the other non-recurring 1x expenses in the quarter that weighed the company down.
What it all boils down to... Medbox actually goes from State to State and helps people apply for licenses, then sells them technology to help their dispensaries operate more efficiently. Endexx is hoping that its kinkos presentation in a spiral binder (I'm sure the $250 cost of such a presentation inspired many a board meeting at the P&D HQ over there) in response to the state's solicitation of a Seed to Sale platform will be dumped in the circular file cabinet where it undoubtedly belongs. See, anyone can respond to a state solicitation to provide a product or service. It's no exclusive situation that Endexx is applying to have its alleged software program picked up by the state. My uncle Morty is also applying to the state of Washington in that capacity. I think he has a better chance than Endexx in securing that bid. LOL
Might as well throw in that while I have always been a supporter of the company in general, the stock price is another story all together. While I do believe they are the brightest star in the MMJ sector, I do agree with the company's own statement about their stock being highly volatile and a risky investment. That, more than anything made me a believer that the company was and still is the real deal. Anyone interested in hiring Medbox as consultants absolutely should do just that. I have first hand knowledge and can safely say they TCB.
Fortunately for the company, it hasn't attracted any serious short interests from true professionals. What I have personally observed is sloppy social media heresy and what may have been direct contact with journalists by some that then claimed credit for a Bloomberg follow up on the "scammy founder" that never happened. Currently there are under 10,000 short interest shares floating around out there per OTC markets website. That is because brokers don't typically lend out shares on pink issuers. The company is fortunate that whatever organized shorting campaign is going on is being executed by nincompoops and half-wits.
Actually you need to read their home page of their consulting division's website. www.cannamedbox.com
After reading a few paragraphs there it may dawn on you that people hire the company to get licenses and construct physical dispensaries once the state permits are granted. According to their registration statement filed with the SEC, they make more than 50% or their revenues from MMJ consulting. In fact, a quick glance at any of their Arizona press releases lets you know just how successful they are in getting those licenses and building out dispensaries for their clients. Also according to the company's statements they have setup turn-key dispensaries featuring their technology over 100 times nationwide over the past few years. So again, it may behoove you to do a little DD before sounding off on a company you have no information on apparently.
We've seen these predictions so many times here. Meanwhile the company keeps gaining momentum and no one can keep a straight face and say this company isn't the most viable public company in the legal marijuana sector. Period... End of story...
Now this is interesting! We have all been asking for any current clients or paper shareholders that have had direct dealings with the company to speak up about any negative experiences and to date no one has said a word. Alas, we finally have someone that says they got ripped off by Medbox. Please, do tell. Be as specific as possible and tell us all when they were engaged, what they were supposed to do, what didn't they do, did you ask for your money back, did they tell you to go pound sand? If you are real... Details please!!!
This one is funny. I know you believe missing a Depo is missing a "court appearance". Well, let me tell you that you are mistaken, as that is not accurate. Depos are missed, rescheduled, cancelled, etc., every day of the week and twice on Sundays. Comparing Medbox to a company like Endexx, whereas the only business model is finding other companies that may have a usable model (not viable but usable), buy them through cheap stock, and pump til' the cows come home. The problem is it hasn't worked and the stock might be under a penny soon. We have no true share count at all as they don't even have the decency to file a quarterly with OTC to stay active and without a big fat red yield sign on their ticker.
Medbox stays current and also mans up to their shareholders and calls a spade a spade. The reason you see the I&O for Medbox in the 14m range after all these months is because the founder threw shares back into treasury. Maybe he's going overboard but that's classy, any way you look at it.
Got my application into Mass for 1 of 35 dispensaries with Medbox's help. The stock is risky at these levels but the company is solid. Go MDBX!
Good, lets get all the illegals deported ;) ...But on a serious note, anyone with an opposable thumb has enough gray matter to understand that the DCA release was an angry one, undoubtedly written by the same guy Mehdizadeh complained about in his release. It's a parting shot aimed to hurt the one that got away. I find it interesting that it was released a week after LA released their version of events. The DCA agent took a step further and added "immigration" offenses to the mix and was completely silent as to when that all happened, in an effort to make it sound more current than it was. Sounds shady...
Sure, it's not like the company took on the state of Arizona for its clients and won, racking up huge legal fees in the process. Or the hundreds of thousands of dollars spent on SEC counsel, auditors, CPAs, and the like to go fully reporting and file registration statements. I would have been surprised that given all those expenses they wouldn't have declared a bigger loss for the quarter. In any event, those that understand business are unphased by the quarter turnout. The company is on pace to shatter last years revenue. Go MDBX!
Yes, Javert. Math is a bit off... I count 22 charges with 87% being thrown out and the rest being pled no contest to with no jail time. Hardly a "career criminal". More like a target actually. Fortunately we live in a country were allegations don't take the place of the judicial process. Alas, judges and juries determine our fate and not overzealous agents or prosecutors. Furthermore, without having any actual dealings with the person being criticized its hard to take the comments seriously. If the kid continues to pull off his amazing success, he will be a cult icon.
On top of it, he is worth about $500 million in assets from shares, etc. He also pulled down a cool million dollars in cash for selling his private company to the public company along with all the exclusive patent rights. What's $450k to a multi-millionaire. Call the payment good will or charity and move on kid! Then write a book about it all and give all those proceeds to charity!!
He has had the ability to legally sell his shares privately to tap into liquidity. He has not sold shares on the public markets or we would have seen a 144 filing to that effect. He is doing all the right things. The kid is a star!
There you go again comparing a Maserati to a Ford Fiesta. The only time this stock was under a dollar was for 20 minutes during a single trading session. It recovered to $2 by the end of that day. You can't compare this to a company that has 170 million shares outstanding and a big fat red yield sign on their OTC markets page.
Medbox leverages their machines and notoriety to sell their high margin consulting services... Simply brilliant and without comparison. .
Moral of the story for EDXC... You can try to put lipstick on a pig but at the end of the day it's still a pig. Any penny stock that has more than 100 million shares outstanding is not worth the paper it's printed on, figuratively and literally. Announcing a non-existent "worldwide" deal was the cherry on top of the sundae and investors took notice and flushed their shares down the toilet. Lol
The $30's are here! Lol. Such a fun show to watch....
Again, Javert or Valjean. You are way off base here. The DCA press release states as follows:
"money distributed from the State Bar of California Restitution Fund, most of which has already been collected and distributed to the known victims."
They know there was an attorney involved in all this. A fact that would have most likely derailed their case at trial. Bottom line on that is it appears the LCA served up a case to prosecutors that had blaring weaknesses and would have lost at trial. The prosecutors folded their hand after the river card hit the board. It was a loser so they let it go. No other explanation makes any sense. The press releases that followed from them had a lot of holes that were subsequently filled by Mehdizadeh's release.
Mehdizadeh paid the attorney's bar bill, voluntarily since it was done on a voluntary plea. You didn't acknowledge the important part of my post which discusses the prosecutions lack of being able to prove even one count at trial, or else they most certainly would have, gotten a restitution order from a judge (not a plea), and the kid would have been sent to the State Penitentiary. As it is, the explanation that he gave in his release that he wanted to spare his elderly father and the company he founded from the stress of a trial, makes the most sense as to why he pled the case out and didn't take it to trial. What is $450k to a multi-millionaire? Apparently it was pre-negotiated with the DA that after a few years of probation all of it gets wiped clean like it never even happened. I'm guessing that's one of the reasons the founder decided to take the fall for this unscrupulous attorney.
The attorney resigned with charges pending. That's as good as a disbarment in my eyes.
As for Mehdizadeh preying on people, well, I don't believe that for a second. This guy has had hundreds of business relationships according to their filings and not one civil complaint from a client or shareholder of this company, ever. Sounds strange that an alleged sociopath is actually managing this company well and without incident. Why is that?
Are we to believe every aspect of the press release Mehdizadeh put out is false. So the guy just gets released from a 15 count indictment and his first reaction is to lie on a press release against the county in which he probably resides? I'm sorry, but that makes no sense at all. The more likely explanation is that the DCA investigator wanted to take a parting shot at the "one that got away". Sounds like a real peach, that guy.... #Javert.
It really depends if you are more of a Javert or a Valjean supporter. I, for one, like to root for the underdog. This guy has been oppressed and he hasn't let it stop him from being a success. Kudos to him.
As to the claims of prosecutors "lacking resources" and entering a plea as a result... Well, that's garbage. That rationale would make sense for anyone other than a guy that now has access to millions and millions of dollars of investor funds in a large public company. His success in that regard actually works against him during an investigation since prosecutors are more sensitive to letting a person go without physically locking them up if they thought the person was likely to prey on people. If they thought they could get a conviction at trial on even one count the guy would have been sent to prison for a minimum of 5 years. Not county jail either... State prison! If what the founder says is true and he had proof that payments were paid to the attorney from the clients then that blows the whole case wide open for the defense.
Further, It appears that he paid the "bar tab" of the attorney he was working for voluntarily. Why not? He's a friggin millionaire. As far as believing the word of a felon, our justice system allows for enpungements that give relief to good people that don't deserve to wear a scarlet letter for prior lapses of judgment or people that are a victim of circumstances. In a few short years the founder gets to have all his prior transgressions thrown out by a judge if he completes probation with no issues... California penal code says the court has no power to deny that request if probation was completed successfully.
I'm an advocate for anyone that makes good! He made good... End of story. Whether he continues to make good is worth watching and is TBD...