In a letter issued to company’s shareholders, Mr. Jeff Goh, the Chief Executive Officer of Medbox Inc (OTCMKTS:MDBX) highlighted the new business model of company. He stated that the new model is largely different from the previous model. Now, it is provider entity of specialized services to numerous operators in booming marijuana industry including manufacturers, research facilities, cultivation centers and legalized marijuana dispensaries in the states where recreational as well as medical marijuana have been decriminalized.
The CEO highlighted the many professional services provided by Medbox which covers consultation services for compliance, licensing, and operations. In addition to the service fee charged from consultation, the company also shares, where allowed, in the earnings and revenues of patrons on a recurring basis, as they extend their businesses. The allocation part comes in play once the businesses are ready and running.
Mr. Goh said that the segment Medbox is active into continues to record extensive progress, and the management is positioning the company to benefit from the opportunities offered by the market. The main objective is to become a pioneer firm in respected field and deliver high-quality services as well as products to customers and patients in all the states where use of marijuana is legalized, as they create a lucrative, recurring revenue source for the benefit of company and its all shareholders.
Medbox appreciably strengthened the necessary corporate governance operations by establishing a new independent Board, which is offering remarkable oversight and guidance. The team includes Ambassadors Mitch Lowe, Ned Siegel and Jennifer Love, all with deep stature and experience.
In last trading session, the stock price of Medbox Inc (OTCMKTS:MDBX) jumped more than 10% to close the trading session at $0.114. The gains came at a share volume of 3.89 million compared to average monthly share volume of 5.15 million.