Medbox Inc (OTCMKTS:MDBX)’s bags a new contract

Posted by Lynn Eisler September 20, 2013 0 Comment 1184 views

Medbox Inc (OTCMKTS:MDBX) is a front-running company in providing various patented systems to the retail and medical industries. The Company announced that it has bagged a contract via which it will build out facilities in Illinois, Connecticut, Nevada, Vermont, Oregon and Massachusetts. It will also be filing dispensary license applications in these states.

Emerging markets

The recreational and medical markets are emerging ones. Thus the licenses for them are not too many and competition between the applicants is rife. However, Medbox Inc (OTCMKTS:MDBX) executives say that the company is using its successes in the fields to its benefit in the licensing program called Arizonadispensary and they hope to make good progress in these markets. It has now set a $5M revenue target per state as far as technology sales and consulting is concerned.

Well established business

Dr. Bruce Bedrick, Medbox Inc (OTCMKTS:MDBX)’s Chief Executive officer said that the company has a proven track record when it comes to managing business for its clientele and garnering results. He said that the company has filed its applications in Massachusetts and Vermont for their clients and that they are also looking forward to filing applications for the company’s clients in Illinois, Nevada and Connecticut. He added that the licensing periods in these state will begin over the next few months.

The competition

Company executives are of the opinion that there are some overenthusiastic consultants who play on the gullibility of the public and give unrealistic success-rates, duplicate the work product and also overprice their services.

There is a great deal of competition for the exact same dispensary license. These kinds of practices tend to be detrimental to the business as a whole and of course to companies such as Medbox Inc (OTCMKTS:MDBX) who follow fair practices. Medbox Inc (OTCMKTS:MDBX) rose 4.36% in Thursday’s trading. The company has a market cap of 407.05 million

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

View all post by Lynn Eisler Visit author's website

Write Your Comment