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.
Medbox, Inc., a leader in the rapidly emerging cannabis sector, provides specialized services to operators of dispensaries, cultivation centers, manufacturers and research facilities in those states where approved. Through trusted clients and affiliates, the company promotes efficient,... More
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