As Washington state works on rules for implementing its new marijuana legalization law, a California company says it wants to bring marijuana dispensing machines to the state.
The pot vending machines are already in place in some states where medicinal marijuana is legal.
The machines currently in use require patients to scan a fingerprint, which will link that patient to an on-file prescription for marijuana. Medbox says it is working to adapt the machines for recreational users. The voter-approved initiative, I-502, gives the state Liquor Control Board until December 1, 2013, to develop rules for implementation. The company also announced a focus on the following revenue streams in 2013:
Medical and legal marijuana business consulting services in newly regulated states to assist business ownerswith completing applications for state approved dispensaries and retail licenses;Selling biometrically controlled dispensing machines to approved dispensary/retail licensees to improve regulatory compliance, tax reporting, and inventory control;Monthly consulting and maintenance revenue per machine placement;Machine placements for traditional prescription medications in pharmacies, urgent care centers, drug rehab clinics, doctors' offices, hospitals, prison systems, veterinary centers, and hospice facilities;Direct medication sales to hospice facilities, urgent care centers, drug rehab facilities, veterinary centers, and prisons;Additional revenue from acquired companies in ancillary service niches within related or parallel industry segments.
In addition, the company has set the goal of being in a position to reward its shareholders with a dividend program commencing in Q1 2014, upon meeting certain performance criteria in 2013.