{"id":7668,"date":"2015-12-08T15:02:08","date_gmt":"2015-12-08T15:02:08","guid":{"rendered":"\/?p=7668"},"modified":"2015-12-08T15:15:24","modified_gmt":"2015-12-08T15:15:24","slug":"medbox-inc-otcmktsmdbx-struggles-to-find-bottom","status":"publish","type":"post","link":"\/articles\/medbox-inc-otcmktsmdbx-struggles-to-find-bottom\/","title":{"rendered":"Medbox Inc (OTCMKTS:MDBX) Struggles to Find Bottom"},"content":{"rendered":"\n<p><img decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/92\/92228\/mdbx_chart.png\" border=\"0\" width=\"450\" \/>Friday left a new deep red gash on the chart of Medbox Inc (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a>). The stock slid nearly 19%, dropping to $0.023 per share by the bell, with volume remaining heavy at 11.5 million shares traded. With this drop, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> is now down over 40% within the course of four trading sessions.<\/p>\n<p>The stock&#8217;s performance has been atrocious throughout 2015, after the SEC investigation was announced in late 2014 and <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> then restated multiple financial reports, showing significantly smaller revenues than previously reported. The company is not doing a particularly good job on the business side of things in 2015 either. Here is what the Q3 report contained and it&#8217;s not exactly a pretty sight:<\/p>\n<ul style=\"list-style-type: disc;\">\n<li>$346 thousand in cash<\/li>\n<li>$16.7 million in current liabilities<\/li>\n<li>$464 thousand in revenues for Jan &ndash; Sep 2015<\/li>\n<li>$25.1 million in net loss for Jan &ndash; Sep 2015<\/li>\n<\/ul>\n<p>The fact that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> founder Vincent Mehdizadeh is selling shares left and right on the open market, as indicated by three separate Form 4 filings, is not helping things either. Vincent Chase Inc. sold all of its 7 million <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> shares. PVM International and Mr. Mehdizadeh as a physical person also sold a hefty load.<\/p>\n<p>A quick look at <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a>&#8216;s year-to-date chart reveals a grim sight, with the stock down over 99% YTD, after trading for over six dollars per share in January 2015.<\/p>\n<p>To make matters worse, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MDBX\">MDBX<\/a> managed to dilute its common stock by over 60% over the course of the three months between August and November. The company&#8217;s outstanding shares grew from 69 million to over 114 million by mid-November.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Friday left a new deep red gash on the chart of Medbox Inc (OTCMKTS:MDBX). The stock slid nearly 19%, dropping to $0.023 per share by the bell, with volume remaining heavy at 11.5 million&#46;&#46;&#46;<\/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-7668","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\/7668","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=7668"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/7668\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=7668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=7668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=7668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}