WEST HOLLYWOOD, Calif., Feb. 3, 2014 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing industry specific consulting services and patented systems to the medical and retail industries, announced FINRA consent and issuance of a common stock dividend. The 100% stock dividend issuance will have a record date of December 18th, 2013, and a pay date of February 3rd, 2014.
Management clarified that the class of shares to receive the dividend is the common shares only and not the preferred class of shares held by company executives. The shares are issued on a one-year restricted basis.
"I am extremely elated that we were able to give back to our shareholders in this way," stated Vincent Mehdizadeh, COO at Medbox, Inc. "Being a leader means setting a good example for other companies in the medical marijuana industry to follow. As we transition to becoming an SEC filer in mid-March, its important that we now focus on strengthening our management team, which is our next key priority."
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, Florida, and has their corporate headquarters in West Hollywood, California.
Medbox offers their patented systems, software and consulting services to pharmacies, dispensaries and medical groups worldwide. 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 (Pink Sheets), 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, 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.
For more information on Medbox, please contact us at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.