HOLLYWOOD, Calif., April 10, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) ( www.medboxinc.com), announced it has filed its Form 10 to become a fully reporting public company with the Securities and Exchange Commission.
One of the many highlights of the filing is a licensing agreement that illustrates the devotion the company's patent holding affiliate, PVM International, Inc., has towards the company's shareholders. The agreement calls for exclusive rights to the issued patent as well as 4 other pending patents at a rate of $1 per year, per issued and pending patent, for the duration of the patents.
"We are fortunate to have such strong leadership in key positions here at Medbox and our affiliate companies," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "The last few weeks have been a test of our resolve, but we have demonstrated that we are up for the challenge in running a public company and enjoy being a leader in shaping new industries."
The Form 10 document, financial statements, auditor's footnotes, and opinion letter can be found at the following link on the company's website: http://www.thedispensingsolution.com/wp-content/uploads/2013/04/Form-10-PDF1.pdfThe company retracts the release last week announcing the completion of the audit process. However, the company has engaged a replacement PCAOB registered firm to complete any and all filings for the company on a going forward basis.
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.