HOLLYWOOD, Calif., March 8, 2013 /PRNewswire/ -- Medbox, Inc. (OTC
Markets: MDBX) (www.medboxinc.com), announced they have signed a
deal with Entrepreneur Media for a full page ad placement in their
award winning magazine "Entrepreneur." This leading small business
magazine serves 619,988 paid subscribers as of July 2012 and boasts a total readership exceeding
2.7 million. The placement represents Medbox's most aggressive
marketing project to date. The ad, which will debut in the May
issue and will continue for at least a six month run, will urge
Entrepreneur's ambitious and affluent audience to "Join The Green
Rush."
"This marks the first time any marijuana related business,
albeit a passive relation as is the case with Medbox, will be
featured in a mainstream investment periodical of this magnitude,"
said Dr. Bruce Bedrick, CEO of
Medbox, Inc. "The advertisement is the most significant promotion
vehicle the company has ever pursued and we are elated that
Entrepreneur is fostering a working relationship with Medbox."
The company also issued a shareholder update via email to its
certificate holders of record. Pursuant to regulations, the company
is making the information contained in the email public via press
release. The email contained the following highlights achieved by
the company over the last few months:
- Highest revenue generating month in the company's history
occurring in January of 2013 at $900,000
- Commenced audit of prior 2-years financials in order to become
fully reporting with the SEC (target completion this month)
- Confirmed a total of over $4.5m
revenue booked for the 2012 calendar year
- Acquired an interest in Bio-Tech Medical Software, Inc.
(business has 2 patents that are instrumental in stopping
prescription pill abuse through the use of biometric technology at
pharmacies)
- Commenced acquisition discussions with 4 additional targets in
related businesses to Medbox
- Recorded first balance sheet with over $1 million in cash reserve on hand
- Recorded 34% EBITDA margin in 2012 financials
- Appeared live on Fox Business Channel, Bloomberg, Huffington
Post Live, and CNBC
- Commenced building up to 30 dispensaries in San Diego for new and existing consulting
clients
- Began consulting and technology sales in Massachusetts, Connecticut, Colorado, and Washington regarding new canna-business
setups.
- Secured a $6 million equity
transaction with a private investment company ($1 million paid to date and another $5 million to be paid by May 2013).
- Founder and majority shareholder, Vincent Mehdizadeh, caused a board resolution to
be signed allowing for 612,000 in common shares and a 3,000,000
preferred shares to be placed back to treasury for the company.
These shares, which were in Mr. Mehdizadeh's possession, were given
back to the company and cancelled to assist with acquisition
activity without diluting existing shareholders.
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, 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.