Notis Global, Inc.OTCPK - Current
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  • Thu, Feb. 25, 3:18 AM
    | Thu, Feb. 25, 3:18 AM | 31 Comments
  • Nov. 4, 2015, 4:04 AM
    | Nov. 4, 2015, 4:04 AM | 40 Comments
  • Nov. 3, 2015, 3:23 AM
    | Nov. 3, 2015, 3:23 AM | 27 Comments
  • Jul. 7, 2015, 5:04 PM
    • Medbox (OTCQB:MDBX) promotes Chief Operating Officer Jeff Goh to President and interim CEO replacing Guy Marsala. Mr. Goh has been associated with the firm since August 2014.
    | Jul. 7, 2015, 5:04 PM | 5 Comments
  • Mar. 9, 2015, 4:25 PM
    • The Audit Committee of Medbox's (OTCQB:MDBX) Board of Directors concluded on March 6 that, in addition to the previously announced periods that required restating, the first two quarters of 2013, the year 2012, Q1 2012, Q2 2012 and Q3 2012 all necessitate restating as well.
    • Most of the items pertained to improper revenue recognition, although one involved improperly capitalizing inventory which understated cost of sales.
    • Previously: Medbox to restate financial statements (Dec. 30, 2014)
    | Mar. 9, 2015, 4:25 PM | 2 Comments
  • Dec. 30, 2014, 8:52 AM
    • Medication dispensing equipment maker Medbox (OTCQB:MDBX) plans to amend and restate its financial statements for the year 2013, Q3 and Q4 of 2013 and the first three quarters of 2014. The statements for the Q1 and Q2 2013 and full-year 2012 may also require revision.
    • In October, the BOD appointed a special board committee to investigate a federal grand jury subpoena that was served upon the firm's accountants and alleged wrongdoing by a former employee. The company itself was subsequently served by subpoenas from the federal grand jury. The SEC became involved after receiving a letter from a Medbox ex-employee.
    • It appears that revenues were recognized too soon on certain customer contracts. Up-front payments will now be amortized over the longer of the contract period or the customer relationship and revenue will be deferred until key contingencies are removed and it is clear that the revenue is earned per GAAP and SEC regulations.
    • The situation permits the Medbox's existing lenders to trigger default remedies but they have deferred taking action pending discussions on refinancing the company.
    • MDBX is down 13% premarket on turnover of 750 shares.
    | Dec. 30, 2014, 8:52 AM
  • Jul. 26, 2014, 1:15 PM
    • Medbox (OTCQB:MDBX) enters into an agreement to sell $3M aggregate principal amount convertible debt to accredited investors. The debt will be sold in three tranches of $1M, the first of which was placed on the July 21, 2014 closing date of the contract.
    • The debentures bear interest at 10% per annum and are convertible into shares of common stock at $11.75 per share. The company can pay interest in cash (at a 30% premium) or in stock (at a 30% discount to the lowest average volume weighted price over the prior 20 trading days).
    • MDBX shares closed yesterday at $15.54.
    | Jul. 26, 2014, 1:15 PM
  • Jul. 7, 2014, 8:08 PM
    | Jul. 7, 2014, 8:08 PM | 20 Comments
  • Jun. 23, 2014, 10:53 AM
    • New York State Senators vote 49-10 in favor of allowing limited access to medical marijuana. The bill would allow patients to inhale vaporized extracts of weed's active ingredients or eat them in food. Smoking marijuana would be prohibited, however. The State Assembly passed the measure 117-13 on Friday.
    • The state's Health Department will have the task of setting up the program.
    • (AEGY) (MDBX -2.4%) (AVTC +3.9%) (CNAB -1.2%) (ERBB +13.2%) (GDSM -16.7%) (HPNN) (LATF +2.2%) (MJNA -0.5%) (PLPL -4.1%) (VAPE +2.6%) (VAPR) (VPCO +2.9%)
    | Jun. 23, 2014, 10:53 AM | 5 Comments
  • May 22, 2014, 10:16 AM
    • According to Florida-based Novus Medical Detox, today's marijuana is much more potent than the varieties available a generation ago. This poses significant health risks to consumers as the wave of legalization gains momentum.
    • In a study by the University of Mississippi Potency Monitoring Project, the level of weed's main psychoactive ingredient, THC, has increased from 3.4% in 1993 to ~9% in 2008. In sinsemilla (the flowering tops of unfertilized female plants) THC levels have jumped from 5.8% to 13.4%. The lab has identified THC concentrations as high as 37% in certain pot strains.
    • The controversy surrounding the legalization of marijuana will no doubt intensify as the health risks of consuming ever-higher levels of THC in cannabis become more widely known.
    • Related tickers: (AFAI) (MDBX) (MJMD) (VAPR) (MJNA) (PLPL) (RFMK) (SKTO) (VMGI) (VAPE) (LATF) (HPNN) (NTRR)
    | May 22, 2014, 10:16 AM | 65 Comments
  • May 16, 2014, 8:41 AM
    • The U.S. Patent and Trademark Office (USPTO) issues a notice of allowance to Medbox (MDBX) for a "seed-to-sale" medical marijuana dispensing system. The system verifies the identity of the patient/consumer receiving the medication, it monitors the dispensing of the medication, it tracks the development of the product including the location of the seeds acquired, the cultivation and harvesting of the plant and the conversion into the final product and it supports a complete biometric chain of custody through the company's Secure-Safe technology for added security and transparency.
    • The firm has initiated efforts to establish foreign patent protection in markets it deems relevant.
    | May 16, 2014, 8:41 AM
  • 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
  • May 13, 2014, 8:35 AM
    • The San Jose City Council discusses new regulations that will, in effect, shut down all medical pot dispensaries (MDBX). Cannabis lobbyists say that the regs are unduly influenced by law enforcement, who regards all medical marijuana as illegal.
    • The Silicon Valley Cannabis Coalition submitted an updated initiative to the Council yesterday that they believe addresses their concerns.
    • Medical cannabis advocates urge interested citizens to show up at tonight's meeting.
    | May 13, 2014, 8:35 AM
  • May 9, 2014, 12:09 PM
    • At last night's GeekWire Awards ceremony in Seattle, Leafly won App of the Year. The mobile app, described by some as the "Yelp of cannabis" helps pot consumers stay informed about cannabis strains, products and the best places to purchase them. It also connects patients to doctors who can assist them through the medical authorization process. It contains over 100K user-generated reviews of more than 800 cannabis strains as well as thousands of dispensaries and doctor locations around the world. GeekWire praised its functionality and clean professional appearance.
    • Leafly founder Cy Scott says, "Our team is truly honored to receive this award. When we released the app, our goal was to offer a simple way for medical and recreational cannabis consumers to get robust information at their fingertips. This award is a win for all who support the cannabis movement."
    | May 9, 2014, 12:09 PM | 5 Comments
  • Apr. 23, 2014, 10:52 AM
    • San Francisco Assemblyman Tom Ammiano submits a bill to tighten the regulations governing the use of medical marijuana by adults. It would make it illegal for physicians to prescribe medical pot for patients they have not examined and bar prescriptions by doctors who have a financial stake in a pot dispensary.
    • The assembly Public Safety Committee passed the bill yesterday.
    • Somewhat controversial is the provision for the Department of Alcoholic Beverage Control to enforce the law. The California Narcotic Officers Association cites the irony in allowing an agency with regulatory responsibility over the use of recreational substances to regulate medical products. The senate version specifies the state health department as the regulator.
    • The bill, if passed, could lay the groundwork for a tax-and-control scheme for recreational pot use similar to Colorado and Washington.
    • (MDBX) (CANN) (AERO) (PHOT)
    | Apr. 23, 2014, 10:52 AM | 3 Comments
  • Apr. 16, 2014, 10:18 AM
    • Move over Medbox (MDBX) because the ZaZZZ American Green Machine is in town in Colorado.
    • Tranzbyte (ERBB) COO Stephen Shearin reports that the Doctors Orders pot dispensary in Denver will soon take delivery of the company's automated weed dispensing machine that the firm unveiled on April 12.
    • No financial terms are disclosed.
    | Apr. 16, 2014, 10:18 AM | 5 Comments