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Part of the problem is the management of the company has spent so much time on developing the company properly, we have neglected some public company necessities, like engaging a market maker. With a market maker, the nonsense that happened today of someone selling a hundred shares to trigger more sales at a below value price and buying those shares at a reduced price would have been avoided.
Not to worry. A company we are in negotiations with bought a few hundred shares last week and then sold the same at .03 today to put pressure on the deal on the table and low ball our company. I have no doubt that the stock will rebound shortly. Obviously, that company shot themselves in the foot as we will never do a deal with them after they showed themselves for who they are. Fortunately we found this out now and not after a deal was done.
Thanks for all the positive comments guys. We worked hard in Arizona for our clients. Now we are going to take on Connecticut, Massachusetts, then California when they get their act together and announce clear policy.
In addition, we are moving forward with our automation of traditional pharmacies using our equipment. That is the one to watch...
Thank you sir. This company is my life's work and I want to bring value to many industries for many years. I will stay tuned to this board and answer questions as they come up.
It's all in the works. Partly we have been trying to develop the company first and then promote the public company which is the opposite of what some companies are doing in today's market. Now that the company is off the ground and doing well, we are now focussed on building the public company up by expanding our shareholders, and creating a stable market for our stock.
Thanks. We currently have over 100 clinics nationwide using some form of our company's technologies (POS and/or machines). We are also hard at work to crash other sectors of the medical industry for inventory management and control.
Keep following our company. You will be impressed with what you see.
Of course. Yes, the bigger picture for Medbox is other industries that can benefit from our technology, but I can't ignore the medical marijuana industry as the company received over $2 million in consulting revenue alone just from Arizona, and will be selling between $1-3m in technology to that state in the next few months after dispensary certificates are awarded to our clients. The reality is that while we are concentrated on newly emerging states for MMJ and also other industries that are non MMJ related, keeping up and supporting sensible policy, especially in our own backyard of LA, is important for us.
No worries on the comments. I enjoy seeing what people have to say.
Trying to get OTC Markets to display our financials properly. For now please use this link to see our Q1 2012.
http://www.otcmarkets.com/financialReportViewer?symbol=MDBX&id=80719
Sorry guys, just getting to this now. The reason why we at Medbox are so interested in the Los Angeles Medical Marijuana scene is because over 20 of our company's machines are placed in Los Angeles. As a result, Medbox will be supporting the clinics that feature our company's technology to overturn the LA ban. Although our City Council has let us down by not being the true voice of the citizens of LA and crafting policy that is indicative of what the people truly want and need, the reality is that if the industry, as a whole, does not band together now, it will send a clear message around the nation that medical marijuana supporters are without purpose.
Hi There, to answer your questions:
The company that is at www.medbox.com and not our website at www.medboxinc.com, is trying to market a machine similar to ours to be used at doctor's offices for traditional medications.They are out of Missouri and have a corporationnamed Medbox, LLC in that State. We have a trademark and copyright on the name "Medbox" so that company has already been sent a cease and desist notice but since they are still in the development stage of their machine, and apparently have been for the last two years or so, a lawsuit isn't warranted yet on a patent infringement claim, but we have served them with papers to not use our trade name anymore. They are not really competitors, so we are not concerned with them at present.
Dispense Labs still doesn't have a corporate entity setup, and when calling them it is clear that they don't have machines available for sale. Apparently their manufacturer stopped working with them after hearing that they were sued by our company. We are still moving forward with obtaining a judgment against them so they are never allowed to transact business.
Our Medbox Rx (pharmacy storage and retrieval system for prescription meds)is going great. We are currently getting a cost analysis done to be able to show the large chains why our product would save them millions each year.
Lastly, California setting up an advisory board to help regulate dispensaries is desparately needed. It is the wild west out here in that regard and part of the reason I created my machine is to aid in oversight and to have an established method for these clinics to demonstrate transparency. I have been fortunate my technology has been received so well and is continuing to get positive support from new States moving forward.
Hi There,
I am sorry but the regulations on soliciting share sales from the public precludes me from making any public statements regarding the terms of said sales in a public forum.
People making inquiries directly to the company may receive information.
I hate to be that way, but the company needs to follow the rules... and there are a lot of them, our SEC attorney tells us. LOL
Hey Guys,
I just noticed the board and thought I would chime in. I apologize there are very limited market shares available for MDBX currently. The reality is that there are very little shares (under 300,000) available on the secondary market for our company. Our company is in the process issuing shares directly to accredited investors at a discount, in order to expand our shareholder base and spark market trading. Please do not consider this an offer for securities as it is not. It is simply information I am providing as to why shares are in such limited supply.
Thanks, Vincent
Our technology references RFID in our new patent application concerning the storage and retrieval of meds in a pharmacy setting. This is different from our Medbox alternative medicine machine because the pharmacist actually loads your precription in a temp lock-box and you pickup your prescription any time of the day by swiping your card and giving a fingerprint sample.
We are looking to make it easier for you to pickup your meds from your local pharamcy. Our Medbox machine for alt med centers is simple in that the clinics loads the alt meds in vials and the machine stores up to 600 doses in a tempreture controlled and light deprived environment. Pretty cool stuff if you ask me, but I am a bit partial seeing as that it is my own company. lol
Hi Kenco, yes the possibilities are limitless as to different spin-off projects based on our company's patent. We are busy doing the savings analysis so mainstream pharmacies can see how much they would save by installing one of our storage and retrieval systems at the pharmacy counter so prescriptions can be picked up more efficiently. This is one of about 5 different projects we are hard at work on developing.
Thank you for all your comments. I understand the comment about IR firms and do not take offense to it. I am going to develop the public side of this company the right way and although the stock does not trade, its not for lack of interest. It's simply because the company has not expanded its shareholder base, by choice. In the next 6 months we hope to focus more on bringing value to the public company.
You are way too kind. Thank you for the compliment and I look forward to checking back in every once in a while if there is a question that I can answer.
Thanks,
Vincent
Thanks for your comment. To answer your question, we do plan on upgrading our tier from a pink sheet stock. In the meantime, we plan on marketing shares to accredited investors in the not to distant future using an independant IR firm. With the JOBS act recently enacted, it will loosen the restrictions on companies attracting investors. I've found that no matter how successful a company is, expansion capital is always critical to fuel growth. With our company that won't be difficult to obtain. We are one of the rare ones out there that has plenty of sizzle and the steak that goes with it.
As far as the recent lawsuit we had to file, setting the tone early that violators of our patent will not be tolerated is really all it is. The Autospense really has no chance in surviving. I will make sure of it.
Feel free to look me up on facebook and send me a message. I just noticed this board and decided to clear the air on a couple of the things you guys were talking about. Doing my part to keep people interested in my company current on info... http://facebook.com/?MEDBOX.INC
Our pharmacy storage and retrieval lockboxes (Medbox RX) are currently being manufactured and are set to make a pretty big splash once they debut. Pretty exciting times for the company.
Really don't expect there to be much volume guys. We only have a few hundred thousand shares in the publics hands and the majority are just sitting on their shares. We expect to increase our shareholder base in the coming months. The way I look at it, if the company has value and is actually making money like Medbox is, there is no rush. We are doing things on a slow and steady level and creating a market for our shares in the most ethical and honest way possible.
Thanks for the warm welcome. I will keep my responses somewhat general on matters pertaining to our company stock because the rules and regulations on that are voluminous and a slippery slope for public companies.
To answer your question, CBIS acquired our company's distribution and consulting rights on a 50/50 basis in Canada and some other countries. We look forward to developing that relationship in the not too distant future.
Hi All: Not sure who setup all the information on this page but thank you on getting information about the company out there. I stumbled onto this message board while doing an internet search of our stock symbol. While I can't promote shares for sale publicly, I can answer general questions about the company. Thank you all for your interest in Medbox.
Regards,
--
Vincent Mehdizadeh
CEO / Founder
Prescription Vending Machines, Inc.
DBA Medicine Dispensing Systems
A Subsidiary of Medbox, Inc. [MDBX]
www.medboxinc.com