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Friday, October 7, 2022

MedboxInc (OTCMKTS:MDBX) Goes Parabolic

MedboxInc (OTCMKTS:MDBX) is making a parabolic rise on massive volume as pot stocks heat up across the board and light up the bb’s as they did 2 years ago. MDBX in particular has been incredibly volatile reaching incredible highs over $100 and recently trading as low as $0.05.

When a stock such as MDBX heats up investors need to pay attention; this one has a long history of spectacular moves on enormous volume. MDBX has been hugely successful in creating massive buzz for their Company and capturing Investors sentiment with the dream of Cannabis legal in every state with dispensary’s on every corner each with a Medbox Dispensing System.

They have also 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.

Medbox Inc (OTCMKTS:MDBX) has created 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.

The Company bills itself as 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, consistent, high quality products that are priced right, readily available and safely packaged.

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Back in July 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.

The big press continued this week when they announced they have 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.”

Also on August 26 P. Vincent Mehdizadeh, Founder and now former majority shareholder of MDBX announced retiring 13 million shares of MDBX, including all 2 million preferred shares in his possession, carrying 5 to 1 conversion to common shares and super voting rights, along with an additional 3 million common shares. The shares have been retired, or in effect cancelled, resulting in 13 million less shares issued and outstanding on a fully diluted basis.

Mehdizadeh remains with approximately 11,778,746 common shares of MDBX, of which he has transferred 1 million shares each to Marijuana Policy Project (MPP) and Law Enforcement Against Prohibition (LEAP). He has also pledged 3 million shares to a charity Mehdizadeh founded called Self-Made Foundation, Inc.

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Currently trading at a $5 million market valuation MDBX has minimal revenues to date and rising short term debt. But MDBX is one of the original pot stocks with a long history of making spectacular moves and it is making one now. When this one heats up investors need to pay attention. MDBX has been hugely successful in getting their brand into the national media resulting in parabolic moves. 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.

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1 COMMENT

  1. MDBX like the rest of the bb pot stocks is big on hype and short on real substance like revenues or even a decent looking balance sheet that doesn’t scream dilution. Don’t get married to these Companies, play the run for sure but always cash in your chips on the way up.

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