HOLLYWOOD, Calif., April 3, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) ( www.medboxinc.com) announced that it will engage a new public company accounting and oversight board (PCAOB) auditing firm to review the previously audited financials. The new firm's engagement is underway for purposes of providing audited financials for the filing of the Form 10 and on an ongoing basis thereafter.
While Q Accountancy Corporation's audit delivered an acceptable set of financial statements, management believes a firm more focused and supportive of emerging microcap public companies would be best suited for long term operations. Management believes it is in the best interest of the shareholders and the company, as a whole, to make this change, although it will delay the filing of its Form 10 to the latter part of April.
"The point is getting the job done with the right people. We have identified a firm and we look forward to announcing their engagement shortly," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "Corporate governance is paramount and the company will do what is needed for the Form 10 to be viewed as favorably as possible by the SEC."
About Medbox, Inc:Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles. Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.