Medbox, Inc. Prepares for the Enactment of the JOBS Act
Apr 06, 2012, 08:15 ET
HOLLYWOOD, Calif., April 6, 2012 /PRNewswire/ -- Medbox, Inc. (Pinksheets: MDBX) (www.medboxinc.com) commented today on the new JOBS Act, recently passed by the United States House and Senate and signed by President Obama yesterday.
The "Jumpstart Our Business Startups Act" (JOBS) shall go through SEC rulemaking procedures in coming months before companies are able to utilize its positive benefits. The bill increases the flexibility that companies have in raising capital through private placements and public offerings. Medbox has been going through the painstaking process of expanding its shareholder base of accredited investors and creating a market for its stock. The Bill helps companies like Medbox by reducing the amount of red-tape in order to fuel growth.
Under current law, companies are prohibited from promoting a private placement offering to the general public. The JOBS Act eliminates this ban and allows companies to publicize offerings, as long as they accept only accredited investors.
"For the first time ordinary Americans will be able to go online and invest in entrepreneurs that they believe in," President Obama said during the Bill signing.
Small and midsize companies are expected to benefit the most from the bills passage. "This legislation will make it easier for companies to raise capital for expansion, which will create new jobs and further stimulate the growth of economy," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "We welcome this reform and applaud the leaders of Congress on this bipartisan and forward-thinking action."
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 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. Its common stock trades on the Over the Counter Market, 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.
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