Company also announces 1000% increase in cash reserves
HOLLYWOOD, Calif., Jan. 2, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announces $940,000 in new revenue generated for the quarter, over $1 million in cash reserves which reflects a 1000% increase from the prior quarter, and an estimated EBITDA percentage of over 35% for the quarter.
The company also announced a focus on the following revenue streams in 2013:
- Medical and legal marijuana business consulting services in newly regulated states to assist business owners with completing applications for state approved dispensaries and retail licenses;
- Selling biometrically controlled dispensing machines to approved dispensary/retail licensees to improve regulatory compliance, tax reporting, and inventory control;
- Monthly consulting and maintenance revenue per machine placement;
- Machine placements for traditional prescription medications in pharmacies, urgent care centers, drug rehab clinics, doctors' offices, hospitals, prison systems, veterinary centers, and hospice facilities;
- Direct medication sales to hospice facilities, urgent care centers, drug rehab facilities, veterinary centers, and prisons;
- Additional revenue from acquired companies in ancillary service niches within related or parallel industry segments.
In addition, the company has set the goal of being in a position to reward its shareholders with a dividend program commencing in Q1 2014, upon meeting certain performance criteria in 2013.
"Our unprecedented upward momentum, coupled with several market segments in which we have achieved leadership status, have created a dynamic opportunity for our company," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "Rewarding our shareholders when our company is able to is part of operating a progressive company that is investor and client focused."
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, veterinary centers, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.
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