LOS ANGELES, April 14, 2014 /PRNewswire/ -- Medbox, Inc. (OTCQB: MDBX) (www.medbox.com), a leader in providing ancillary services to the alternative medicine industry, dispensary consulting services, and patented medicine dispensing systems to medical and retail industries, sought to clarify how its technology is currently used in medical and retail marijuana states, after a series of media reports hyping the prospect of a competitor unveiling a "pot vending machine" in Colorado. Some of these reports, featured a company whose product Medbox believes may violate the company's federal patent (7,844,363 B1). The reports raised the prospect of customer-accessed marijuana machines being used in Colorado.
"Although our patent covers direct patient access to our medication dispensing systems, we do not offer this configuration to any of our clients," said Medbox Founder and Senior Strategist, Vincent Mehdizadeh. "That may be an option years down the line when social sentiment catches up to the entire premise of a 'Weed ATM', but for the time being it's not something our company condones. The reality is that these types of headline grabbing tactics instituted by unregulated pink-sheet companies looking to hype their stock does a lot of harm to the marijuana industry and undoubtedly causes the regulators in Colorado to have to field concerned citizen inquiries. It's not what Medbox does and I don't want there to be any confusion as to our position on the matter."
Company executives clarified that the "Secure-Safe" machines Medbox sells to state-licensed medical and recreational dispensaries are the equivalent of a UL rated safe that dispenses medicine behind-the-counter and always at the control of a dispensary employee. The underlying technology has been awarded a patent (US 7,844,363 B1) that the company benefits from and there is also a patent pending on additional features and functionality as follows:
- Designed to securely store and dispense marijuana via an attached Point-of-Sale terminal (not pictured) at the control of dispensary operators and never directly accessible by consumers
- Engineered to have a UL safe rating between Residential Security Container (RSC) and Class B rated safes for the US and upgraded U.L. TL-15 designation for Canadian placements meeting or exceeding any state or country's requirements for secure storage and dispensing of marijuana
- Re-enforced steel plate structure & steel bolted inner access door
- Double walled & insulated sides/top for fire and thermal protection
- Inner door secured by multi-point interior locking system
- Fully electric operated and controlled locking system
- Fully programmable pass codes and fingerprint recognition for multi-level operator access
- No key or mechanical override mechanism ensuring no unwanted access
- Intrusion alert feature via SMS or email message after 5 unsuccessful access attempts or upon interior motion sensor activation.
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. Headquartered in Los Angeles, Medbox, through its wholly owned subsidiary, Medicine Dispensing Systems, offers their patented systems, software and consulting services to pharmacies, alternative medicine dispensaries and local governments in the U.S. In addition, through its wholly owned subsidiary, Vaporfection International, Inc. (www.vaporfection.com), the company offers an industry award winning medical vaporizer product. Medbox, through its newly established subsidiaries, also engages in the following ancillary services catered to the alternative medicine industry: merchant services and armored transport for cash deposits, cannabidiol R&D, real estate acquisitions and subsequent lease programs to alternative medicine dispensaries, and also alternative medicine dispensary management services.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, 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 as well as political and economic conditions present within the industry. 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 the company at (800) 762-1452 or go online to www.medbox.com.
SOURCE Medbox, Inc.