Hollywood, Calif.-based Medbox, Inc. (OTCPINK Markets: MDBX), a maker identity-verifying medical-marijuana dispensers, saw its stock volume and share value soar Feb. 26 on news of the rollout of its new patented dispenser.
MDBX share price closed at $31.72 on Feb. 26, up $4.72 cents, or 17.48%, from its closing price of $27.00 the previous day. Its robust stock volume was 370,084 shares.
Medbox’s dispensers even have the precaution of requiring a finger print check for identity. The company hopes to ultimately place these dispensers in the thousands of clinics and approved facilities that it hopes one day will dispense medical marijuana.
Rollout with Orders Already Coming in
In a Feb. 26 release, Medbox announced the rollout of its new dispenser and said it had already taken orders for the new product.
Company executives stated the underlying technology has been awarded a patent (US 7,844,363 B1) that the company benefits from and there is also a patent pending on additional features and functionality as follows:
- Designed to securely store and dispense marijuana via an attached Point-of-Sale terminal (not pictured) at the control of dispensary operators and never directly accessible by consumers
- Engineered to have a UL safe rating between Residential Security Container (RSC) and Class B rated safes for the US and upgraded U.L. TL-15 designation for Canadian placements meeting or exceeding any state or country's requirements for secure storage and dispensing of marijuana
- Re-enforced steel plate structure & steel bolted inner access door
- Double walled & insulated sides/top for fire and thermal protection
- Inner door secured by multi-point interior locking system
- Fully electric operated and controlled locking system
- Fully programmable pass codes and fingerprint recognition for multi-level operator access
- No key or mechanical override mechanism ensuring no unwanted access
- Intrusion alert feature via SMS or email message after 5 unsuccessful access attempts or upon interior motion sensor activation.
"We have over 100 of our prior dispensing safes out in the field, and pre-orders for over 200 more of our next generation dispensing safes for Washington, Illinois, Nevada, and San Diego. We have a busy rest of the year ahead of us!" Medbox Vice President Matt Feinstein, stated in a written statement.
New Patents Awarded
At the same time, Medbox is developing and patenting even more practical products for the cannabis industry.
On Jan. 21, Medbox announced that it has expanded its intellectual property portfolio with the confirmation that it has been awarded two additional patents for its Vaporfection brand of products. The announcement was made in conjunction with a comprehensive shareholder update, and Form 10 filing with the Securities and Exchange Commission.
The patents, awarded to the company's wholly owned subsidiary, Vaporfection International, Inc., specifically relate to:
- Vapor Glass™ technology, which features the use of laboratory grade glass encased heating element positioned in the center of the laboratory grade glass heating chamber air pathway. This unique Glass on Glass design results in a superior quality and efficient air/heat flow vapor, which ensures that nothing but the purest convection heated air enters the plant material, which releases the purest, naturally flavored and virtually odorless vapor into the users’ respiratory system. This method is unlike most vaporizers that apply conduction heat to the plant material using ceramics, metals and other possible contaminates in the air pathway.
- Vapor Sense™ technology, which features a touch screen interface linked to an automatic temperature sensing control system. The technology uses a digital microprocessor temperature controller directly connected to a thermo coupling temperature sensor in the heating chamber. It also incorporates a fixed temperature setting option, auto shut-off, and cool-down safety features.
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Product Rollout and Optimism Help mCig
Australian vaporizer and e-cigarette maker mCig Inc.’s (OTCQB: MCIG) stock volume soared Feb 26, 2014 with 4,594,704 shares changing hands, significantly more than its three-month average of 3,732,433 shares.
The ongoing robust activity seems to be spurred by the company’s recent product announcements and the general optimism regarding the eventual legalization of marijuana. On Feb 3, mCig unveiled VitaCig, Inc., mCig’s new product made by its wholly-owned subsidiary.
Taking the same approach applied to the marijuana industry, mCig said it decided to avoid direct competition with the ultra-competitive and highly fragmented nicotine-based eCig industry. Instead, mCig decided to develop a niche product by embracing the potential of eCig technology (the ability to easily vaporize pre-packaged liquids from a pocket-sized device) as a medical delivery device.
In the fall of 2013 the company began quietly working on the new product codenamed: "Vita".
“We incorporated a new subsidiary: VitaCig, Inc. trademarked the name "VitaCig", and developed the "VitaCig" - a nicotine-free eCig that delivers a water-vapor comprised of vitamins, nutrients, and natural flavors,” mCig’s CEO Paul Rosenberg said, in a written statement.
As far as mCig is aware, a product comparable to VitaCig does not exist on the market. The company believes that VitaCig could cannibalize both the existing eCig market as well as the e-Hookah markets by providing a superior, enjoyable experience without the nicotine or overly sweet flavors. It believes the product will appeal to a wide market including: Smokers looking to quit, Smokers looking to reduce nicotine consumption, non-smokers, and rehabilitation patients suffering from illnesses.
“With the mCig we developed a brand that immediately disrupted the vaporizer market. With VitaCig we are hoping to disrupt the eCig market,” Rosenberg said. “At this stage, it would be foolish to compete head on with the major tobacco companies who are embracing electronic cigarette technology and rolling out nicotine based products,” he added.
On Feb. 26 MCIG’s share price closed at 38 cents, up 3 cents from the share price of 35 cents the previous day.
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Moving Closer to Rolling Out Its Medical Marijuana Dispensary Machines
Another dispenser maker On Feb 20, Tranzbyte Corp. (OTCPINK: ERBB), announced that it has signed a formal agreement with Herbal Elements LLP, a legal Medical Marijuana Dispensary in Eagle-Vail, Colorado to assist in the final aspects of machine roll-out in Colorado.
The dispensary owner, Greg Honan, has agreed to work closely with Tranzbyte in supplying the company with important aspects of how the ZaZZZ machine will best work - both legally and functionally - in the Colorado marketplace as the company continues to grow its automated dispensary presence.
“To say we are pleased to have met, discussed ongoing and future business, and now inked an agreement with Herbal Elements and its proprietor Greg Honan would be a gross understatement," Tranzbyte’s COO Stephen Shearin said, in a written statement. "Greg is a long-time Colorado professional who has been in the MMJ dispensing business for over four years,” he added.
This is the first positive news coming from Tranzbyte since it had a deal to roll out its medical –marijuana dispensary machines fall apart.
On Jan. 28, just three days after the Tempe, Ariz.-based company had announced to the the world it had reached a verbal agreement with PARC, a licensed Arizona dispensary in Phoenix to use its dispensary machines, it had to do an about face and tell the world the deal was dead.
On Feb. 26 ERBB share price closed at 4 cents, unchanged from the share price at the close of the previous day.
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