Medbox Inc (OTCMKTS:MDBX) Finally Goes Green

[[tagnumber 0]][[tagnumber 1]]As far as OTC disasters go Medbox Inc (OTCMKTS:MDBX) is one of the biggest ever. Back in the beginning of the year the ticker was traded at respectable levels, but the slide that followed obliterated 97% of its value by the end of last month.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]If you have followed [[tagnumber 6]]MDBX[[tagnumber 7]] for long enough you would know the reason for this movement. As we have mentioned in our other articles about the company stock, the main reason behind the horrible chart performance of the ticker was the fact that several of the company’s reports had to be restated due to revenue recognition errors and the numbers in the fixed reports weren’t very flattering.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $92 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $1.48 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $10.27 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $66 thousand[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $4.43 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Now, those are some pretty horrible numbers even by OTC standards and, to be fair, even the fact that the company is generating revenues can’t be taken with a bit of salt. This is because [[tagnumber 6]]MDBX[[tagnumber 7]] recorded $66 thousand in sales, while the cost of revenues alone was $329 thousand.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is not the first time we see the cost of revenues exceed the revenue itself, but it sure is one of the more serious. And while [[tagnumber 6]]MDBX[[tagnumber 7]] has proved to be a big disappointment, we might very well see the ticker stabilize for the time being.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In fact, after recording a single green session in June we saw [[tagnumber 6]]MDBX[[tagnumber 7]] climb 15.22% in the last session of the past week. A fluff press release from yesterday sent the company stock another 50.94% up and the ticker finished the day at $0.20 while the 3.7 million shares that were traded during the session generated $606 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After yesterday’s jump we see some increased investor interest today. He ticker is so far 22.55% up and the dollar volume just hours after market open is already $1.3 million. Will [[tagnumber 6]]MDBX[[tagnumber 7]] manage to climb higher is for time to tell. Be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]