HOLLYWOOD, Calif., Jan. 7, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), was featured on NBC News in a story about the company and their patented marijuana dispensing machines being placed in the newly legalized states of Colorado and Washington as a regulatory mechanism to control amounts dispensed and to track taxation more accurately.
The report stated that the legal marijuana business will soon reach $20 billion per year, and entrepreneurs are embarking on what is being called "the green rush".
Vincent Mehdizadeh, the founder of Medicine Dispensing Systems, Inc., a subsidiary of Medbox and a leading consultant to the legalized business of medical and retail marijuana told NBC News that the machines are not going to pop up everywhere. "One day in the future that may happen, but for now these machines sit behind the counter as an inventory control and compliance tool."
Medbox machines and consulting services are in high demand in states such as Arizona, Massachusetts and Connecticut that have legalized medical marijuana, according to the report. Dispensaries use the Medbox systems: behind the counter to track inventory, to verify the identification of the patient, to keep marijuana safe and secure, to provide accurate record keeping for taxation and transparency, and maintain full compliance with state dispensing limitations and regulations.
Now the company is working to adapt the machines to comply with new laws in Colorado and Washington, where adults can legally use marijuana for recreation. Mikhail Carpenter, spokesman for Washington's Liquor Control Board, said Medbox has been in contact with the state. Medbox management stated that they have offered their expertise to help state officials create the framework for a legal marijuana industry and to collect taxes on sales.
"We've been the most successful consulting firm in the marijuana business and with over 300 clients served over the last few years we have a wealth of knowledge to bestow on states that need our assistance," stated Dr. Bruce Bedrick, CEO of Medbox, Inc.. "We look forward to working with state regulators to help assure complete compliance, transparency and real-time reporting."
The company also commented on the ability for these machines to be used in a self-serve environment like a standard vending machine. "While our equipment may look like a standard vending machine, when interfaced with our point-of-sale system, the technology is a powerful tool that dispensary operators can use in both medical and recreational retail environments. Our company does not allow any of the dispensary operators that utilize our technology to operate 24 hours a day or leave the machine unattended. Supervision is always required when the machine is dispensing. We believe that while support for marijuana is increasing on a national level, our company must have a conservative posture in order to better serve our clients, shareholders, and this newly forming marijuana industry," Bedrick further stated.
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, veterinary centers, 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.
SOURCE Medbox, Inc.