Medbox Applauds FINRA's Warning on Marijuana Stocks
WEST HOLLYWOOD, Calif., Aug. 20, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented systems to the medical and retail industries, announced their support of a statement issued by the Financial Industry Regulatory Authority (FINRA), warning about possible stock scams in the medical marijuana industry.
"Medical marijuana is legal in almost 20 states, and recreational use of the drug was recently legalized in two states. As a result, the cannabis business has been getting a lot of attention - including the attention of scammers," the report stated. "Like many investment scams, pitches for marijuana stocks may arrive in a variety of ways - from faxes to email or text message invitations, to webinars, infomercials, tweets or blog posts."
Medbox, a leader in providing software and systems that improve compliance, increase transparency, accountability, and enhance security of medicines of all types, is in support of FINRA's statements and has taken a similar stance in prior press releases.
"We are in a period that is like the Gold Rush," Dr. Bruce Bedrick, CEO of Medbox commented. "Unfortunately, there are companies and individuals that prey on investors looking to enter this fast-growing market," he added. "We want these fly-by-night operations out of our industry, and support any regulatory authority in calling attention to the problem."
Medbox never engages in promotions or solicitations to sell their stock. In fact, the company does not even have an investor relations firm it works with and relies on media attention to organically promote the stock through genuine market interest.
"We are in this business for the long haul," Bedrick continued. "Our effort in becoming the most credible marijuana ancillary services public company has paid off for Medbox and its shareholders. Quarter after quarter we post solid revenue numbers, have an ever expanding business model, and we are the first company in the sector with a working business model while never touching the drug itself. We look forward to the increased scrutiny that goes along with being a fully reporting SEC company."
The company points out that the FINRA tips highlighted in the article are extremely helpful for investors to ascertain which marijuana related stocks are viable.
To read the FINRA Fraud Advisory, visit: http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/FraudsAndScams/P325352
For information on Medbox please contact the company at (800) 762-1452 or visit our website at www.medboxinc.com.
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
Forward-Looking Statements: The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant 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 business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry, political conditions and economic conditions in the states considering such legislation. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
SOURCE Medbox, Inc.