Medbox, Inc. Releases 2nd Quarter Financials Company on pace to eclipse 2012 projections of $4M by 150%
HOLLYWOOD, Calif., Aug. 20, 2012 /PRNewswire/ -- (Pinksheets: MDBX) (www.medboxinc.com)
Medbox, Inc. released their end of 2nd quarter 2012 financials, which showed earnings of over $820,000 for the three-month period ending June 30. Cash on hand has almost doubled since the beginning of the year, and receivables jumped to an impressive 1.1 million.
Medbox earns all its revenue through consulting services and the sales of their proprietary prescription medicine dispensing systems.
Dr. Bruce Bedrick, CEO of Medbox commented on the company's financial picture. "Our balance sheet remains strong, with key gains brought on by expansion into new markets, particularly in Arizona and Connecticut," he stated. "Medbox is well positioned for future growth and expansion, as we have very little debt, patented technologies, growing market demand for our systems and services, expertise in the industry, and a solid track record."
Recently, the company helped over 75% of its Arizona clients successfully navigate the state's dispensary licensing program. With issuances of over 20 licenses to its consulting clients and being awarded mandatory placements of its technology in those clinics, Medbox has secured itself as the leader in compliant operation as well as a model for overall success in the industry.
In addition, the company is slated to roll out its storage and retrieval system for traditional pharmacies later this year. The system, called the Medbox RX, allows pharmacists to store a consumer's medication for quick and convenient retrieval later by the consumer, via automated biometric kiosk.
"As our company continues to grow, we provide more value for our customers, our employees and our shareholders," Bedrick said. "We look forward to a very rewarding future."
For more information on Medbox, their financials, products or services, please contact the Medbox Investors Relations Department at (800) 762-1452 or go online to 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, Tokyo, Connecticut, Arizona and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, urgent care centers, clinics, hospitals, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is listed on the OTC Board, 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.
SOURCE Medbox, Inc.