LOS ANGELES, March 26, 2014 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medbox.com), a leader in providing consulting services and patented medicine storage and dispensing systems to the medical and retail industries, today announced that it has completed the requisite steps to formally become a fully-reporting company as of March 24, 2014 and is now subject to the Securities and Exchange Commission reporting requirements.
On March 25, 2014, Medbox filed its requisite Form 3's. The Company expects to file its amended Form 10 registration statement, along with audited full-year 2013 financials, by March 31, 2014.
"This is a key step in our goal of listing our shares on a national exchange, and further evidence of our goal to maintain the highest standards for corporate governance and transparency," stated Vincent Mehdizadeh, Chairman and COO of Medbox, Inc. "It is of special importance to me personally that we are one of the only fully reporting public companies that has generated considerable revenues in the marijuana ancillary services sector and demonstrated an executable business plan. Our main subsidiary, Medicine Dispensing Systems, has turned a profit every year since commencing operations in 2010. These key differences set us apart from our competitors."
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. Headquartered in Los Angeles, Medbox, through its wholly owned subsidiary, Medicine Dispensing Systems, offers their patented systems, software and consulting services to pharmacies, medical dispensaries and local governments in the U.S. In addition, through its wholly owned subsidiary, Vaporfection International, Inc. (www.vaporfection.com), the company offers an industry award winning medical vaporizer product.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
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 as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
For more information on Medbox, please contact (800) 762-1452 or go online to http://www.medbox.com.
SOURCE Medbox, Inc.