Medbox Poised for Significant Growth as New Gallup Poll Shows Majority of Americans Favor Legalization of Marijuana Support surged 10 percentage points in past year, to 58%
WEST HOLLYWOOD, Calif., Oct. 24, 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, stated that the company could see sharp revenue growth as a majority of Americans now favor the legalization of marijuana.
According to the Gallup Organization, for the first time ever, a clear majority of Americans (58%) say the drug should be legalized. This is in sharp contrast to the time Gallup first asked the question in 1969, when only 12% favored legalization.
"Support for legalization has jumped 10 percentage points since last November and the legal momentum shows no sign of abating," according to Gallup. "Last week, California's second-highest elected official, Lt. Gov. Gavin Newsom, said that pot should be legal in the Golden State, and advocates of legalization are poised to introduce a statewide referendum in 2014 to legalize the drug."
As more Americans have greater acceptance of marijuana, it is likely that this momentum will spur further legalization efforts across the United States. Advocates of legalizing marijuana say taxing and regulating the drug could be financially beneficial to states and municipalities nationwide.
"Medbox is well positioned to expand into new markets as states continue to legalize marijuana across the United States," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "We have proven that we can successfully work with both entrepreneurs and regulators to provide equipment and consulting services to help navigate the complex roadmap that governs the legal marijuana industry," he added. "As more Americans now favor legalization, we believe that states will follow the wishes of their constituents, providing Medbox with significant opportunities for future growth."
The Gallup poll was conducted October 3-6, 2013, and was weighted to correct for unequal selection probability, nonresponse, and double coverage of landline and cell users in the two sampling frames. Gallup also weighted to match the national demographics of gender, age, race, Hispanic ethnicity, education, region, population density, and phone status. The results have a 95% confidence that the margin of sampling error is ±4 percentage points.
To read about the Gallup Report, visit: http://www.gallup.com/poll/165539/first-time-americans-favor-legalizing-marijuana.aspx
For more information on Medbox, visit: 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, Florida, 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. 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.
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. Words such as "could" and "believe" are examples of forward-looking statements. 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.