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Arizona Judge Grants Extension on Medical Marijuana Dispensary Openings

August 5th

PHOENIX, AZ — A superior court judge in Arizona has granted an extension to medical marijuana dispensaries awarded licences in last year’s lottery, giving them additional time to open. Last year, the Arizona Department of Health Services, who oversees the state’s medical marijuana program, awarded the state’s medical marijuana dispensary licences through a lottery.   […]

Read Arizona Judge Grants Extension on Medical Marijuana Dispensary Openings in its entirety on The Daily Chronic.

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Medbox Begins Operations in Oregon, New York, Illinois and Nevada

July 22nd

HOLLYWOOD, CA — Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they will begin providing their consulting services to interested parties in the states of Oregon, New York, Illinois and Nevada.

Just weeks ago, The Oregon House passed a bill legalizing medical marijuana retail establishments, moving the industry squarely into the mainstream, and handing medical marijuana advocates a major victory. House Bill 3460, creates a registry of businesses that sell medical marijuana. Patients have long sought retail access to medical cannabis, arguing the state’s current rules that allow patients to grow their own marijuana are unrealistic.

A recent investigative report by The Oregonian, showed that the lack of state regulation of medical marijuana has allowed widespread diversion to the black market.

“We are pleased with the passage of this bill,” stated Dr. Bruce Bedrick, CEO of Medbox, Inc. “This legislation aims to legitimize the industry, and take marijuana off the streets and into properly run and licensed dispensaries,” he added. “We are strong proponents of any measures that help the medical marijuana industry conform to acknowledged standards and practices seen in the pharmacy industry, which will in turn benefi. . . . . READ MORE

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Medbox Featured as Investment Opportunity in Legal Marijuana Industry on CNBC

July 8th

HOLLYWOOD, CA – Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they have been listed in a CNBC story as an investment opportunity in the legal marijuana industry.

In a piece titled Investment Opportunities Grow in Marijuana BusinessMedbox was listed as one of only two publicly traded companies that are capitalizing on this rapidly growing industry.

“The marijuana market is growing,” said Courtney Regan of CNBC/Big Data Download. “It’s shaping up to be an incredibly lucrative industry based on the latest data projections.”

Commercial medical marijuana sales are estimated at $1.5 billion per year, but are rapidly growing, according to the report – using data collected from Medical Marijuana Business Daily. Looking forward, projected sales are $3 billion in 2014, and $6 billion in 2016.

“If you take the whole industry, not just medical – but the entire marijuana market in the United States - you’re probably looking at$40 billion. Some estimates have it as high as $100 or $120 billion. If you compare it to the wine industry, which is ma. . . . . READ MORE

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Medbox Issues Status Update to Company Shareholders

June 17th

HOLLYWOOD, CA — Medbox, Inc. (OTC Markets: MDBX), a leader in providing consulting services and patented systems to the medical and retail industries, issued a status update to its shareholders on past, present, and future projects.

The following is a summary of key events and projects in recent weeks:

  • Medbox received its first round of comments from the SEC relative to the Form 10 filing of April 10, 2013. The company deemed the comments to be concise and easy to address and made a decision to re-file the Form 10 or similar registration document, by the end of June 2013. The new filing will include answers to the SEC comments as well as auditor reviewed Q1 2013 financials.
  • Last Friday, the company noticed that OTC markets had incorrectly posted the company’s unaudited financials as opposed to the company’s audited financials. In an effort to alert the investment community, the company filed an 8-k and brought attention to this issue. OTC Markets has since corrected the problem. The company’s audited financials can be found through its website, the Form-10 filed with the SEC, or the OTC Markets website.
  • The Nevada state legislature approved a bill establishing a system of state-regulated medical marijuana dispensaries. The measure, SB374, has now officially been signed by Governor Brian San. . . . . READ MORE

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San Diego Medical Marijuana Draft Ordinance References Medbox Technology in Dispensaries

June 13th

HOLLYWOOD, CA — Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing industry-specific consulting services and patented systems to medical and retail businesses worldwide, announced that proposed modifications to San Diego’s medical marijuana ordinance has been released to the public.

A Medbox medical marijuana dispensing machine.

A Medbox medical marijuana dispensing machine.

In summary, the proposed legislation would permit Medbox systems, and prohibit other types of “vending” units that dispense medical marijuana.

The ordinance reads, “The use of vending machines which allow access to medical marijuana except by a responsible person as defined in San Diego Municipal Code 42.1502 (a dispensary employee), is prohibited. For purposes of this section, a vending machine is any device that allows access to medical marijuana without a human intermediary.”

Medbox is the only device that is used behind the counter as a storage, dispensing and compliance system, and is operated exclusively by trained personnel, and never by patients or customers. The company is quick to point out that some compe. . . . . READ MORE

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