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Medbox Featured in Bloomberg Businessweek
Date:5/10/2013

HOLLYWOOD, Calif., May 10, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented systems to the medical and retail industries, announced today that their company has been featured in an article in Bloomberg Businessweek. The report profiled the company, the management team, and the company's core product.

"The devices sit behind sales counters at state-licensed marijuana dispensaries. Biometric technology identifies the fingerprints of patients carrying state-issued medical marijuana cards," the article stated. "A database tracks everything so that patients can't buy more than their legal allotment, clerks can't pilfer the merchandise, and states can collect taxes."

With a Pew Research Center poll finding broad support for legalization, the legal and medical marijuana industry is gaining momentum. IBISWorld estimates legal sales this year will be $1.7 billion, rising to $5 billion by 2018. 

"We are in the right place at the right time," according to Bruce Bedrick , CEO of Medbox. "We're the leading player in an industry that's ready to explode."

The Bloomberg article noted that while the industry may raise a few eyebrows, Medbox is actually a quite conservative company. "It's a conventional business model – which is the point," the article stated.

Where the product is already legal and controlled, states levy taxes, set hefty registration fees, and establish detailed regulations such as mandates for fungus testing. Washington State alone estimates marijuana taxes and fees could generate $2 billion in revenue over five years.

This new "gold rush," as Bloomberg described the growing marijuana industry, is going to become "as mainstream as Miller Lite."

To view the Bloomberg Businessweek article, visi
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SOURCE Medbox, Inc.
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Related biology news :

1. Medbox Positions Itself as the Leader on Wall Street in the Legalized Marijuana Industry
2. Medbox Files Form 10 with SEC
3. Medbox to Sponsor Free Educational Seminar in San Diego
4. Medbox Executes $6 Million Equity Transaction with Private Investment Firm
5. Medbox Partners with Bio-Tech Medical Software to Create Nations Safest Prescription Drug and Medical Marijuana Distribution System
6. Medbox, Inc. Comments on Record Trading Day
7. Medbox, Inc. Featured in Multiple Media Stories in Massachusetts and California
8. Medbox, Inc. Releases Demo Video and Collateral Media Concerning How Their Systems Will Be Used in Massachusetts Medical Marijuana Dispensaries
9. Medbox Communicates with Shareholders, Comments on Pending Transition to OTC Bulletin Board, and Announces Appearance on Fox Business News Channel
10. AVT Develops Biometrically Secure Medicine Storage and Retrieval System for Medbox RX
11. Medbox, Inc. Releases 2nd Quarter Financials
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