Medbox Inc (OTCMKTS:MDBX) Still Can’t Find A Bottom

[[tagnumber 0]][[tagnumber 1]]The story of Medbox Inc (OTCMKTS:MDBX) is filled with a lot of sadness and the people who have been keeping an eye on the company know that very well. The company stock was traded at a high of some $73.90 per share on January 7 last year, but things quickly turned sour.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Things didn’t go well for the rest of the year, but it got even worse when [[tagnumber 6]]MDBX[[tagnumber 7]] was investigated in late–2014 for discrepancies in revenue recognition. The company had to restate a lot of financial reports and the errors proved to be massive. Unfortunately, it was not in [[tagnumber 6]]MDBX’s[[tagnumber 7]] interest. Even the current market cap of over $10 million seems inflated considering the depressing numbers that were contained in the company’s report for the first quarter of this year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 13]] [[tagnumber 14]]cash: $92 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $1.48 million[[tagnumber 15]] [[tagnumber 14]]current liabilities: $10.27 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $41 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $4.43 million[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]These numbers are far from those that the company previously recorded. Lately, the people trying to get out while the stock is sliding seem to have gotten even more. Volumes since the beginning of the year have increased quite significantly.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]MDBX[[tagnumber 7]] is hitting 52–week bottom after 52–week bottom and it seems that there is simply no end to this. The latest session saw the company lose another 15.15% of its value and [[tagnumber 6]]MDBX[[tagnumber 7]] finished with a price of $0.3152 in yesterday’s session. The 721 thousand shares that changed their owners managed to generate $241 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Earlier today the company came out with a press release that announced a $3.5 million investment. Although no specifics were given the market has reacted and [[tagnumber 6]]MDBX[[tagnumber 7]] is currently 23.57% in the green. The ticker might manage to record a session in the green, but that doesn’t necessarily mean that it won’t return to its downwards course soon afterwards.[[tagnumber 2]]