Seeking Alpha

Medbox, Inc. (MDBX)

  • May 15, 2014, 4:53 PM
    • Net revenues: $0.332M (-73.4%); gross profit: ($560.2K) vs $625.5K; loss from operations: ($1.273M) (-286%); net loss: ($1.259M) (-281%); non-GAAP loss/share: ($0.04) (-300%); quick assets (ex-A/R): $2.421M (+586%).
    • Operational highlights: six new subsidiaries formed to service various aspects of the cannabis industry (e.g. marijuana R&D, dispensary management, armored car transport).
    • (MDBX -3.4%) transitioned to the OTCQB tier of the OTC markets.
    • In San Diego, the City Council adopted an ordinance that reduced the number of dispensing licenses by 75%. The company had to establish a provision for sales refunds for $962.8K as a result.
    | May 15, 2014, 4:53 PM | Comment!
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Company Description
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, recreational and cultivation... More