Medbox, Inc. Posts Financial Statements for Subsidiary, Prescription Vending Machines, Inc.
HOLLYWOOD, Calif., Feb. 27, 2012 /PRNewswire/ — Medbox, Inc. (Pinksheets: MDBX) (www.medboxinc.com) released 2010 and 2011 financial statements for their subsidiary company, Prescription Vending Machines, Inc. (PVM).
The statements show gross revenues of $1.1 million in 2010 and $3.4 million in 2011, with an overall gross profit margin of 53%. The revenues were accounted on a “cash basis” which does not account for receivables of over $1.2 million that the company is due and will be collecting in 2012. The company is in the process of making public shares available to accredited investors and establishing a market for its stock to actively trade in the coming months.
Prescription Vending Machines, Inc. is engaged in the development, sales and support of prescription medicine dispensing and storage systems. Revenues are derived primarily from machine sales and consulting services.
Revenue generating operations commenced in 2010. Prior to that time, the company focused on the development of its flagship products, which are now deployed in hospitals, pharmacies, urgent care centers, alternative medicine clinics and doctor’s offices.
The company has been awarded a United States Patent for their system, and has a number of other patents pending.
Medbox, Inc. is traded on the OTC Board, ticker symbol MDBX. For more information on the company, their products or services, please contact the Medbox Investors Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
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, Tokyo and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, urgent care centers, clinics, hospitals, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is listed on the OTC Board, ticker symbol MDBX.
SOURCE Medbox, Inc.