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Last $0.11 USD
Change Today +0.0104 / 10.05%
Volume 3.9M
MDBX On Other Exchanges
Symbol
Exchange
OTC US
Munich
As of 8:10 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

8439 West Sunset Boulevard

Suite 101

West Hollywood, CA 90069

United States

Phone: 800-762-1452

Fax:

Medbox, Inc. provides specialized consulting services to the marijuana industry and sells associated patented products, including its Medbox medical dispensing system and medical vaporization devices. The company works with clients who seek to enter the medical and cultivation marijuana markets in those states where approved. The company offers solutions that assist with licensing and compliance, site selection, design and permitting, safety and security, along with full build-out and operational oversight. Its consulting solutions and technology create structure and process for clients and their respective businesses in this emerging sector. The company’s business involves contracting with business owners for its services and the sale of marijuana-related products, such as its Medbox dispensing system and its line of tabletop medical vaporizers. The company expects to transition to the sale of a portable line of vaporizers in the second quarter of 2015. The company operates the business directly and through the utilization of six operating subsidiaries, as follows: Prescription Vending Machines, Inc., a California corporation, doing business as Medicine Dispensing Systems in the state of California, which distributes the company’s Medbox product and provides related consulting services. Vaporfection International, Inc. (Vaporfection), a Florida corporation through which the company distributes its medical vaporizing products and accessories, including Vaporfection vaporizers. Vaporfection has two primary products, one of which is a handheld portable device called the miVape that has received its first sample production run units in August 2014, with a scheduled launch date in the second quarter of 2015. Vaporfection’s other product is the viVape 2 unit that is a tabletop vaporizing unit. Medbox Property Investments, Inc., a California corporation specializing in real property acquisitions and leases for dispensaries and cultivation centers. MJ Property Investments, Inc., a Washington corporation specializing in real property acquisitions and leases for dispensaries and cultivation centers in the state of Washington. Medbox Management Services, Inc., a California corporation specializing in providing management oversight and compliance services to state-licensed dispensaries for cultivation, dispensing, and marijuana infused products. Medicine Dispensing Systems, Inc., an Arizona corporation, which distributes the company’s Medbox dispensing system and provides related consulting services in the state of Arizona. Products and Services The Medbox dispensing system is intended for the control and dispensing of medical marijuana, and is a component of the build out services that the company provides for dispensaries. The Medbox could also be sold separately, but in states that have regulatory systems in place to license alternative medicine clinics. The company does not market or sell Medboxes in states that have de-criminalized the possession of medical marijuana if they have not put a licensing mechanism in place for clinics. However, in such states, the company still assists with procuring licenses and entering to licensing arrangements for the ownership and operation services for retail and cultivation locations. In 2014, the company introduced an upgraded version of the Medbox, called the ‘Secure Safe’. The Secure Safe is designed to store and dispense marijuana through an attached Point-of-Sale terminal at the control of dispensary operators. In 2014, the company arranged for the submission of 36 license applications in 5 states on behalf of clients. Markets The company markets its services and products to the alternative medicine (medical marijuana) marketplace. The company markets its service offerings in states that have regulatory systems in place to license alternative medicine clinics. Of these states, the company considers Arizona, California, Nevada, Illinois, Oregon, and Washington to be its primary target market. The company provides licensing and application support in states outside of California through phone, email, in-person client meetings when necessary, and al

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