Notis Global Inc (OTCMKTS:MDBX) is the new name for Medbox Inc. The stock has been in massive decline in recent months as huge blocks of newly printed shares have hit the market decimating currently shareholders and taking the O/S from a manageable 35 million in May to over 240 million.
MDBX is also unmatched in its ability to sell the sizzle on the pot sector and getting themselves featured in mainstream media. There are plenty of reasons for pot stocks to heat up this year; a number of states are moving towards one form of legalization or another. Billionaire Richard Branson suggesting a decriminaliztion ammendment in the U.N., 6,000 non-violent drug offenders released last year, Australia lifting ban on medical mj, New York opening medical mj dispensaries, Colorado revenues increasing are more catalysts.
Notis Global Inc (OTCMKTS:MDBX) bills itself as a pioneer in the burgeoning, multi-billion dollar legal cannabis industry. The company and its partners are working to bring best practices and drive significant revenues in the cannabis industry. Through key partnerships, Notis is a leading U.S. based provider of Cannabidiol (CBD) oil and is a partner in one of the largest hemp operations in the United States.
The Company’s original claim to fame was a free standing vending machine that dispenses packaged pot. The Company touts its cashless inventory control system whose biometric thumbprint scan and Company-issued debit card ensure that only those with prescriptions can get access to the product inside. Medbox has been awarded United States & Canadian Patents concerning the software and hardware related to their medicine dispensing systems.
MDBX has been hugely successful getting their brand into the national media with features on MDBX in CNN, ABCNews, Reuters, BBC, Fox Business, Bloomberg TV, CNBC, Associated Press, NPR, and company has been featured in articles appearing in Newsweek, Bloomberg BusinessWeek, Los Angeles Times, Chicago Tribune, and the Wall Street Journal, as well as over 30 other news agencies around the world.
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Earlier this year MDBX announced it has signed an agreement to purchase 320-acres of agricultural land in Pueblo, Colorado. Terms of the transaction, which is expected to be completed in August 2015, were not disclosed.
In what will be one of the largest cultivation centers in Colorado, Medbox plans to engage a licensed grower of hemp and marijuana, which it will advise on operations matters, ensuring proper oversight and compliance in the cultivation of high-quality commercial grade marijuana and hemp in a safe, controlled environment.
MDBX said they completed a $4.5 million financing with its existing lenders. CEO Jeff Goh said “We are pleased to have completed this additional round of funding, which demonstrates confidence in Medbox and its future. The funds will be used for corporate purposes, including further implementation of our strategic growth plan.”
In January of this year, MDBX purchased a two-story, 7,500 square-foot retail property in San Diego, CA which they plan to refurbish as a medical marijuana dispensary that is scheduled to open in May. The Company plans to assist with the build-out of the property and will consult with the dispensary operator, Rise Industries, Inc., on compliance, training and related matters. MDBX will be paid a fee for its services, expected to approximate half of the dispensary’s annual profits. The purchase price of the building was just ujnder $1 million US and the Company was awarded a Conditional Use Permit granting them a license for the operation of the dispensary.
On February 23 MDBX announced the launch of its new company name, visual brand identity and website. Notis specializes in cultivation, production and consulting and will bring operational excellence and pioneering expertise to the multi-billion dollar, worldwide legal cannabis industry. Notis will begin trading under the symbol NGBL, starting March 21, 2016.
CEO Jeff Goh said “We have a tremendous opportunity to help define and elevate the legal cannabis industry, moving it into a more mature and accepted mainstream product. Together, our leadership team and Board of Directors have the business background and savvy to guide cannabis advancement as laws change across the country and around the world.”
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Currently moving lower on massive dilution MDBX has minimal revenues, rising short term debt and a history of dilution. But MDBX is one of the original pot stocks that has done a lot to turn things around, quickly turning into a leading CBD cannibol oil/ producer. The stock has a long history of explosive moves skyrocketing in early 2014; when MDBX heats up Investors pay attention; they are masters at selling the sizzle on the pot sector and unmatched in their ability to get themselves featured in mainstream media. We will be updating on MDBX on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with MDBX.
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Disclosure: we hold no position in MDBX either long or short and we have not been compensated for this article.