Medbox Inc (OTCMKTS:MDBX) Regains Some Value

[[tagnumber 0]][[tagnumber 1]]By now, it’s clear that Medbox Inc (OTCMKTS:MDBX) is in a pretty nasty situation. The company stock has lost 99% of its value year–to–date and the red sessions that the ticker is recording are a lot more than the ones it manages to close in the green.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The overall direction is downward and it couldn’t be any other way. The company had to restate some of its filings and the numbers were far from the ones previously reported. The latest one shows that [[tagnumber 6]]MDBX[[tagnumber 7]] is actually in a pretty dire situation.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $346 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $16.7 million[[tagnumber 13]] [[tagnumber 12]]revenues for the first 9 months of the year: $464 thousand[[tagnumber 13]] [[tagnumber 12]]net loss for the first 9 months of the year: $25.1 MILLION[[tagnumber 13]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Certainly some very disturbing numbers that show us the fate of [[tagnumber 6]]MDBX’s[[tagnumber 7]] stock is no surprise. The ticker hit a new 52–week low of $0.0235 in the end of last week and traded heavily, with a total of 11.56 million traded shares.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company’s latest press release announces a settlement of the class action lawsuit against the company and its founder Vincent Mehdizadeh. The company has agreed to pay $1.85 million for the settlement, alongside 2.3 million shares, 300 thousand of which will be given by Mr. Mehdizadeh himself, who so boldly defended the company (and himself) when the lawsuit first came into the light of day.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It looks like [[tagnumber 6]]MDBX[[tagnumber 7]] has realized that they can’t win the legal battle, but despite the fact that they have, in some way, confessed to wrongdoing in the past, we see that the ticker went up 31.91% in yesterday’s session, following the news. As the ticker came to a close of $0.031 the total number of traded shares was estimated at over 13.65 million and generated $314 thousand in daily dollar volumes.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session, however, is going quite badly and [[tagnumber 6]]MDBX[[tagnumber 7]] is 12.90% in the red as of the writing of this article.[[tagnumber 2]]