Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business Ne... ( HOLLYWOOD Calif. Nov. 19 2012 /- Medb...)

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Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business News Channel

Date:11/19/2012

HOLLYWOOD, Calif., Nov. 19, 2012 /PRNewswire/ -- Medbox, Inc. (Ticker: MDBX) (www.medboxinc.com), announced that following their most recent press release they have received many inquiries from shareholders purchasing shares of MDBX from 3^rd parties during last week's volatile trading. These inquiries were responded to and shareholders were content with the company's commitment to shareholder rapport.

In other news, the company further identified their exact plans as to moving from the OTC Market to the OTC Bulletin Board and becoming a fully reporting public company meeting all SEC requirements. At present the company is a "Current" OTC Market stock which means they voluntarily file reports and post financials on the OTC markets website for the public to view. The company's attorneys have already begun the process of preparing the S-1 registration statement for filing with the SEC and are in the midst of a public audit, as to the company's prior 3 years of financials, which will be complete at the end of 2012. The company has contracted with a public auditing firm that specializes in these types of internal audits and is accredited with the highest classification awarded to CPA's - the Chartered Global Management Accountant (CGMA) credential. These steps are necessary to up-list exchanges. The company will be filing its S-1 and will have completed its internal audit within Q1 2013.

"In one facet of our business, we sell technology that allows medical marijuana dispensaries to operate in the most transparent means possible with total accountability. It would be inconsistent of us as a company to not meet a similar level of scrutiny - and that is why we are looking forward to our internal audit in furtherance of our transition to the OTC Bulletin Board," stated Dr. Bruce Bedrick, CEO of Medbox, Inc.

In other news, the company announced that Dr. Bedrick will be appearing on Fox Busines
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SOURCE Medbox, Inc.
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