{"id":6422,"date":"2015-07-31T13:15:42","date_gmt":"2015-07-31T13:15:42","guid":{"rendered":"\/?p=6422"},"modified":"2015-07-31T13:39:29","modified_gmt":"2015-07-31T13:39:29","slug":"medbox-inc-otcmktsmdbx-effortlessly-sails-under-a-dime","status":"publish","type":"post","link":"\/articles\/medbox-inc-otcmktsmdbx-effortlessly-sails-under-a-dime\/","title":{"rendered":"Medbox Inc (OTCMKTS:MDBX) Effortlessly Sails Under a Dime"},"content":{"rendered":"\n

Following a brief period of recovery and a push to a quarter per share, Medbox Inc (OTCMKTS:MDBX<\/a>) started gathering downhill momentum once again. The stock slipped under ten cents per share with ease and even though a new push attempted to patch things up in yesterday’s session, MDBX<\/a> ultimately ended up another 9% in the red, down to $0.081 per share.<\/p>\n

MDBX<\/a> recently announced signing an agreement to purchase 320 acres of land in Colorado, under undisclosed terms. On the same day the stock dropped 6.8%. The announcement was followed by two 8-K filings.<\/p>\n

The first one dated Jul 24 revealed that MDBX<\/a> is upping its authorized shares from 100 million to a succulent 400 million.<\/p>\n

The second one arriving four days later provided more details on the 320 acre deal. MDBX<\/a> will be paying $500,000 and 3% of any gross revenues generated by the land over the next three years, half in stock, half in cash. There is also a promissory note issued to the selling party, a certain Southwest Farms Inc., in the amount of $3.67 million and payable in 35 separate payments, ending in 2018.<\/p>\n

This second filing went public this Tuesday and helped MDBX<\/a> burrow deeper below the dime-per-share mark. The stock did slip into oversold status once more following yesterday’s drop so a technical shift is not unlikely.<\/p>\n

As a reminder to those unfamiliar with the company’s history, MDBX<\/a> was trading for seventy US dollars per share back in January 2014. The company’s issues with revenue recognition in multiple reports led to SEC trouble and the need to restate said reports. Sadly, the restated numbers cast a very different and far less favorable light on the company.<\/p>\n

MDBX<\/a> logged $4.4 million in Q1 net loss.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a brief period of recovery and a push to a quarter per share, Medbox Inc (OTCMKTS:MDBX) started gathering downhill momentum once again. The stock slipped under ten cents per share with ease and...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1192],"class_list":["post-6422","post","type-post","status-publish","format-standard","hentry","category-news","tag-mdbx"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6422"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6422\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}