Navigation Links
Medbox Executes $6 Million Equity Transaction with Private Investment Firm
Date:2/19/2013

HOLLYWOOD, Calif., Feb. 19, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announced that the company has executed a $6 million equity transaction with a private investment firm involving a restricted stock purchase directly from the company at market rate as of January 17, 2013 for $5 million and the remaining $1 million stock purchase at a discount to market. The shares issued are considered a long-term investment for the firm that specializes in funding up-and-coming companies. The investment firm has made an initial payment to Medbox and is scheduled to complete funding of the transaction by May 2013.  

The instant transaction, along with other opportunities currently being investigated by Medbox management, provides alternative acquisition funding sources in lieu of the company's founder selling affiliate shares into the market in order to fund expansion. To date, the company reports that the founder has not liquidated any shares into the public market. In addition, based on advice from counsel, affiliate shares cannot be sold publicly for 90 days after the company files its Form 10 with the SEC to become fully reporting. With the Form 10 on pace to being filed next month, the company has decided to seek out more traditional funding sources in lieu of founder funded expansion.

"Although we have an aggressive acquisition schedule for this year, the $6 million equity transaction, other viable transactions that have been presented to the company, and the company's earnings, will allow us the capital we need to go after any viable acquisitions as well as explore opportunities within our company to boost revenues in our existing market segments," stated Dr. Bruce Bedrick , CEO of Medbox.  

The company also announced that it is on pace to have its best financial performance quarter in company history in Q1 2013
'/>"/>

SOURCE Medbox, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2

Related biology news :

1. Medbox Partners with Bio-Tech Medical Software to Create Nations Safest Prescription Drug and Medical Marijuana Distribution System
2. Medbox, Inc. Comments on Record Trading Day
3. Medbox, Inc. Featured in Multiple Media Stories in Massachusetts and California
4. Medbox, Inc. Releases Demo Video and Collateral Media Concerning How Their Systems Will Be Used in Massachusetts Medical Marijuana Dispensaries
5. Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business News Channel
6. AVT Develops Biometrically Secure Medicine Storage and Retrieval System for Medbox RX
7. Medbox, Inc. Releases 2nd Quarter Financials
8. Medbox Safe Storage and Access Lockers Gaining Popularity
9. Medbox Developing a Patent Pending Wall-Mounted Biometric Kiosk for Storage of Sensitive Medicine Samples and Supplies for Doctors Offices.
10. Medbox, Inc. Announces Top-Tier Rating by Dun & Bradstreet Credibility Corporation
11. RayBiotech, Inc. Executes Neuroscience Biomarker Master Services Agreement with Banner Sun Health Research Institute
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/27/2015)... Calif. , July 27, 2015  Synaptics ... of human interface solutions, today announced that Huawei ... touchscreen solution for its stylish smartwatch. Huawei ... its proven reliability, low power and highly responsive ... wet finger. Huawei designers also required a classic ...
(Date:7/23/2015)... 2015 Aware, Inc. (NASDAQ: AWRE ), a ... results for its second quarter ended June 30, 2015.  ... $4.5 million, a decrease of 33% compared to $6.8 million ... second quarter of 2015 was $0.3 million, or $0.01 per ... diluted share, in the same period a year ago.  ...
(Date:7/21/2015)... Today, ZTE announced its Android smartphone Axon, featuring FPC,s ... in 2015 that relate to sales of FPC1025 for this smartphone ... MSEK for 2015. Jörgen Lantto, CEO of FPC, comments: ... China and we are proud that ... Axon , its first smartphone ...
Breaking Biology News(10 mins):Synaptics Touchscreen Solution Powers New Huawei Watch 2Synaptics Touchscreen Solution Powers New Huawei Watch 3Aware, Inc. Reports Second Quarter 2015 Financial Results 2Aware, Inc. Reports Second Quarter 2015 Financial Results 3Aware, Inc. Reports Second Quarter 2015 Financial Results 4Aware, Inc. Reports Second Quarter 2015 Financial Results 5Aware, Inc. Reports Second Quarter 2015 Financial Results 6FPC's Touch Fingerprint Sensor FPC1025 in ZTE's Smartphone Axon 2
... Melbourne, Australia, have discovered how a key viral gene ... Their finding is providing new insights into how viruses ... reevaluate their approaches to viral vaccine development. ... at the University of Cambridge (UK) have been studying ...
... gigantic leatherback turtle in the South Atlantic have been ... using satellite tracking. Experts at the Centre for ... led a five-year study to find out more about ... The research, published in the Proceedings of the ...
... In the first-ever quantification of energy expended by humans ... that the metabolic cost of an adult missing one ... less than two miles. The new findings will ... of sleep in humans, said CU-Boulder Associate Professor Kenneth ...
Cached Biology News:Viral evasion gene reveals new targets for eliminating chronic infections 2Epic journeys of turtles revealed 2Metabolic cost of human sleep deprivation quantified by University of Colorado team 2Metabolic cost of human sleep deprivation quantified by University of Colorado team 3
(Date:7/29/2015)... Ala., July 29, 2015  HealthSouth ... nation,s largest providers of post-acute healthcare services, offering ... its results of operations for the second quarter ... quarter was characterized by strong volume growth in ... Adjusted EBITDA," said Jay Grinney, President and Chief ...
(Date:7/29/2015)... July 29, 2015 ... the addition of the "Global Biosimilars Market, ... The Global Biosimilars Market, 2015 - ... rapidly growing biosimilars market. With the blockbuster biologics ... minimize costs, biosimilars are being viewed as viable ...
(Date:7/29/2015)... NEW YORK , July 29, 2015 /PRNewswire/ ... neuropathology testing, announces increased partnerships with VA and ... offers Epidermal Nerve Fiber Density (ENFD) and Sweat ... of small fiber neuropathy ( https://therapath.com/skin ). ... Epidermal Nerve Fiber Density (ENFD) on punch skin ...
(Date:7/29/2015)... ... July 29, 2015 , ... The third Medical Innovation Impact Index ... , in particular, drug/device combinations. The current system received a score of 0 (range ... Patient Centered Innovation (iPCI) of Fairleigh Dickinson University’s ( FDU ) Rothman Institute ...
Breaking Biology Technology:HealthSouth Reports Results for Second Quarter 2015 2HealthSouth Reports Results for Second Quarter 2015 3HealthSouth Reports Results for Second Quarter 2015 4HealthSouth Reports Results for Second Quarter 2015 5HealthSouth Reports Results for Second Quarter 2015 6HealthSouth Reports Results for Second Quarter 2015 7HealthSouth Reports Results for Second Quarter 2015 8HealthSouth Reports Results for Second Quarter 2015 9HealthSouth Reports Results for Second Quarter 2015 10HealthSouth Reports Results for Second Quarter 2015 11HealthSouth Reports Results for Second Quarter 2015 12HealthSouth Reports Results for Second Quarter 2015 13HealthSouth Reports Results for Second Quarter 2015 14HealthSouth Reports Results for Second Quarter 2015 15HealthSouth Reports Results for Second Quarter 2015 16HealthSouth Reports Results for Second Quarter 2015 17HealthSouth Reports Results for Second Quarter 2015 18HealthSouth Reports Results for Second Quarter 2015 19HealthSouth Reports Results for Second Quarter 2015 20HealthSouth Reports Results for Second Quarter 2015 21HealthSouth Reports Results for Second Quarter 2015 22HealthSouth Reports Results for Second Quarter 2015 23HealthSouth Reports Results for Second Quarter 2015 24HealthSouth Reports Results for Second Quarter 2015 25HealthSouth Reports Results for Second Quarter 2015 26HealthSouth Reports Results for Second Quarter 2015 27HealthSouth Reports Results for Second Quarter 2015 28HealthSouth Reports Results for Second Quarter 2015 29HealthSouth Reports Results for Second Quarter 2015 30HealthSouth Reports Results for Second Quarter 2015 31HealthSouth Reports Results for Second Quarter 2015 32HealthSouth Reports Results for Second Quarter 2015 33HealthSouth Reports Results for Second Quarter 2015 34HealthSouth Reports Results for Second Quarter 2015 35HealthSouth Reports Results for Second Quarter 2015 36
... announced today Winchester Hospital in ... APIs suite of labor resource management solutions throughout ... Payrollmation time and attendance, ActiveStaffer staff scheduling, EdTrack ... ,The hospital is adopting the applications in hopes ...
... coordinator for the Sun Prairie Area School District, laid out ... meeting of the World Future Society s Madison chapter, ... getting a public education, he said, classrooms will need to ... New technologies can also offer better measurements of students abilities. ...
... in the San Francisco area, you could be part of something ... the University of San Francisco will attempt to create an ad ... 1,000 laptop-toting geeks. The goal of the event, called "FlashMob Computing ... the top 500 supercomputers in the world. , ,It's a big ...
Cached Biology Technology:21st century skills, the future of technology and education 221st century skills, the future of technology and education 3This FlashMob is something super 2This FlashMob is something super 3
Monoclonal Antibody toSynapsin I a and I b Neurofilament associated protein from mouse brain extracts (4)....
Human peripheral blood PBMCs, For immunohistochemistry (IHC) Cell Chip with Human Peripheral Blood PBMC and T Cells...
Umbilical cord blood CD14+ Monocytes, For immunohistochemistry (IHC) Cell Chip with Human Umbilical Cord Blood Monocytes, B Cells and NK Cells...
Human peripheral blood CD8+ T cells, For immunohistochemistry (IHC) Cell Chip with Human Peripheral Blood PBMC and T Cells...
Biology Products: