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MedBox Announces Ticker Symbol Change

HOLLYWOOD, Calif., Nov. 8, 2011 /PRNewswire/ -- MedBox (Pink Sheets: MDBX) (, announced today that they have changed their ticker symbol to MDBX.  The company previously announced that their name was changing from MindfulEye to MedBox.

The company is a leader in the design, manufacture and distribution of automated dispensing systems of prescription medicines. The free-standing unit features 60 or more slots that can accommodate a wide variety of medicines and dosages, and is protected by both a military grade reinforced steel framework and an advanced bio-metrics fingerprint recognition system.

MedBox is a patented dispensing system and software program that utilizes special identification cards that are encoded with the patient's unique fingerprint and prescription allotment information. The process allows for pharmacies, hospitals, and clinics to document that the patient visiting the machine is a registered patient and that the patient has a valid and unexpired authorization from a physician to possess and use the medicine. Each transaction is tracked internally for accounting and compliance purposes. Patient information is all kept securely onsite and not online, as the software is completely self-supportive and does not require an internet connection.

The system has many benefits, which include:

  • Inventory control for operators
  • Safe and convenient access for patients,
  • Decreased overhead
  • Limitations on amounts dispensed to patients
  • Fraud prevention as every transaction is documented
  • Accurate taxation reporting to cities and states

By placing this system in a conventional pharmacy, owners and operators can reduce the long lines and uncomfortable waits that customers endure, and minimize the necessity for employee interaction on simple refills on standard items. This reduces overhead, streamlines operations and provides added convenience for the customer.

The units are built by AVT, Inc – one of the nation's leading developers of automated retailing systems.

"We offer systems that benefit both the patrons that receive their medication though our machines as well as the pharmacies that utilize our technology", states Vincent Mehdizadeh, CEO of MedBox. "The patrons get quick and convenient access to their medication, while the pharmacies gain increased inventory awareness, unparalleled accuracy, and lower overhead costs". 

MedBox is now traded on the OTC Board, ticker symbol MDBX.

About MedBox:  

MedBox is a leader in the automated dispensing of medicines, and has offices throughout the world, including New York, Tokyo and the corporate headquarters in Los Angeles. The system has been praised by virtually all parties because it reduces fraud, waste and abuse. The system provides accurate taxation reports, as the transaction logs cannot be modified. Limits can be set as to how much medicine the machine can dispense to patients (per day, week, month, etc.), as well as documents possible misuse if patients are registered at multiple locations and are accumulating large quantities of medicine. The machines will not dispense to patients that are not registered and do not possess an identification card, fail fingerprint verification, have an expired prescription or have reached their dispensing limit (if applicable). The system software will not permit registration to individuals under the age of 21 and will not dispense to those individuals.

MedBox provides their proprietary, patented system and consulting services to pharmacies, clinics, hospitals, and medical groups worldwide.

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