Medbox Completes Financial Review
March 09 2015 - 4:56PM
Business Wire
--Company Plans to File Full Restated
Results for Prior Periods this Month and will be Current in
all Public Filings--
Medbox, Inc. (OTCQB: MDBX), a leading licensing, infrastructure
and security specialist, patented technology provider, and partner
to the cannabis industry, today announced that under its new
management team, the previously announced financial review has been
completed.
The company said in a Form 8K filed today with the Securities
and Exchange Commission, that in connection with the financial
review, it plans to file an amended and restated Form 10 containing
restated financial statements for the years ended December 31, 2012
and 2013, along with amended and restated Forms 10Q for the first,
second and third quarters of 2014, later this month, at which time
Medbox will be current with all of its public filings. The company
also anticipates reporting financial results for the full 2014 year
this month.
Management plans to conduct a conference call to discuss the
results and the company’s growth strategy under its new leadership
team following release of its full 2014 financial results.
Guy Marsala, who joined Medbox as president and chief executive
officer in July 2014, said, “With the comprehensive financial
review behind us, our management team will devote full attention on
successfully implementing the company’s strategic plan and business
model, helping a growing number of clients attain state license
awards and providing ongoing support services.”
About Medbox, Inc.
Medbox is a leading dispensary and cultivation infrastructure
and licensing specialist, patented technology provider, and partner
to the cannabis industry. Medbox utilizes its expertise to work
with investors and entrepreneurs who seek to enter the cannabis
sector, providing them with a high quality turn-key solution,
consisting of licensing, site selection, permitting, design, and
full build-out. Medbox has become a leader in providing compliance,
safety, security, oversight and operational expertise to the
medical and recreational cannabis industry nationwide. For more
information about the company, visit www.medbox.com.
Forward-Looking Statements
The statements in this press release constitute forward-looking
statements within the meaning of federal securities laws. Such
statements, including, but not limited to, filing an amended and
restated Form 10 and Form 10Qs for prior periods and reporting 2014
financial results in March, are based on current beliefs and
expectations and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of
which are beyond the company’s 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 also include, but are not
limited to, technical advances in the industry, as well as
political and economic conditions present within the industry. The
company does not assume any obligation to update any
forward-looking statement to reflect events or developments after a
forward-looking statement was made, unless required by law.
For more information, contact:
Janet SimmonsPondelWilkinson
Inc.310-279-5980pwinvestor@pondel.com
PondelWilkinson Inc.Janet Simmons,
310-279-5980pwinvestor@pondel.com