Medbox Inc (OTCMKTS:MDBX) Finally Closes Green

[[tagnumber 0]][[tagnumber 1]]Medbox Inc (OTCMKTS:MDBX) is a far cry from something you would call a sound investment choice. The company has suffered greatly since the beginning of last year when it managed to reach a peak of $73.90, only to begin a descent that would decimate nearly all of its value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Since the early months of this year we have seen a great increase in daily dollar volumes as well. This was due to the fact that more and more investors began to try and get out before the ticker reached rock bottom. After all, [[tagnumber 6]]MDBX[[tagnumber 7]] had to restate several of its financial filings and the numbers contained in the amended versions were very different from the ones in the original reports.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Their most recent filing which covered the first quarter of this year contained these numbers in its balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $92 thousand[[tagnumber 17]] [[tagnumber 16]]current assets: $1.48 million[[tagnumber 17]] [[tagnumber 16]]current liabilities: $10.27 million[[tagnumber 17]] [[tagnumber 16]]quarterly revenues: $41 thousand[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $4.43 million[[tagnumber 17]] [[tagnumber 26]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The dreadful things that have happened to the company led it to a 52–week low of $0.3152 in Wednesday as the stock lost another 15.15% in its downward slide. There wasn’t a lot of PR to stop the stock from seeking a connection with rock bottom either.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That was, however, until yesterday. Yesterday the company published a press release announcing that the company will receive around $3.5 million in “committed funds from existing investors” due to the fact that the its Form S–1 filed in April has become effective.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This managed to provide for some excitement among investors and we saw the company stock gain 23.41% and close at $0.389. The volume was well above the average and the 1.14 million shares that changed their owners generated $456 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, as we mentioned in our previous article, this is no sign that the company stock will stop its descent. So far today’s trading is proving this right as the ticker is sitting 6.17% down as of the writing of this article.[[tagnumber 2]]