LOS ANGELES, Sept. 2, 2014 /PRNewswire/ -- Medbox, Inc.
(OTCQB: MDBX) (www.medbox.com), a leading dispensary
infrastructure/licensing specialist, patented technology provider,
and partner to the cannabis industry, today announced that the US
Patent and Trademark Office (USPTO) has issued patent #US8818820
and assigned it to Medbox, Inc.
The patent describes a system used to:
- Verify the identity of a patient/consumer receiving
medication;
- Monitor the dispensing of medication/product to the
patient/consumer;
- Monitor the development of the medication/product, including
tracking the location from which the seeds are obtained,
cultivation and harvesting of the plant, and conversion into
medication/product;
- Support a complete biometric chain of custody seed to sale
system from cultivation facility to dispensary where dispensing can
occur through Medbox's patented "Secure- Safe" technology for added
security and transparency.
"This is one of many patents in our IP portfolio but we consider
this patent in particular to be our most important one to date,"
commented Matthew Feinstein, Vice
President at Medbox. "From the start, our Medbox system was
designed to provide comprehensive tracking and inventory management
to help operators of cultivation facilities and dispensaries
maintain stringent compliance with all state regulations, and this
patent reinforces our company's position as one of the leaders in
this industry."
About Medbox, Inc:
Medbox (http://www.medbox.com) is the leading dispensary
infrastructure and licensing specialist, patented technology
provider, and partner to the cannabis industry. Headquartered in
Los Angeles, CA, Medbox, through
its wholly owned subsidiary, Medicine Dispensing Systems, offers
its 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, is in
development of the following ancillary services tailored to the
alternative medicine industry: merchant services and armored
transport for cash deposits, cannabidiol research and development,
real estate acquisitions and subsequent lease programs to
alternative medicine dispensaries, and alternative medicine
dispensary management services.
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, the enforceability
of the patent covering the intellectual property discussed herein,
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.
Medbox, Inc. is a publicly traded company, and is quoted on the
OTCQB, ticker symbol MDBX. For more information on Medbox, please
contact (800) 762-1452 or go online to: http://www.medbox.com.
Contacts:
Investor Relations:
Stephen Hart
Hayden IR
+1- 917-658-7878
hart@haydenir.com
SOURCE Medbox, Inc.