Though only hospitals, pharmacies, urgent care centers and doctor's offices are 'pot boxing' right now, the legalization of recreational marijuana in Washington and Colorado means that makers of the cupcake dispenser's 'nefarious counterpart' may soon start cracking the mainstream market.
SCROLL DOWN TO SEE A PHOTO OF THE VENDING MACHINE
Medbox -- a California company that manufactures marijuana-dispensing vending machines -- is working to modify its machines to sell to recreational users, NBC News reported. The vending machines currently take a pre-paid member registration card, use a pre-registered fingerprint sample to identify customers and track all transactions.
In a statement made Wednesday, Medbox announced its plans to focus on its consulting services, advising businesses in Colorado and Washington on how to navigate the legal hurdles of starting a pot dispensary. It also announced it had over $1 million in cash reserves -- a 1000 percent increase from the prior quarter -- and $940,000 in new revenue.
The company has already seen its share of excitement in recent months since marijuana won several electoral battles in the 2012 elections.
In November, Medbox stock went from lingering at around $3 a share to a staggering $215 -- a 3,000 percent share price spike -- in a matter of days. The rapid escalation prompted the company to release a statement warning that the price was greatly exaggerated. But after dropping back to $20 and then spiking slightly again, the stock seems to be holding steady at around $60 a share, still well above its value in previous years.
$13.7 Billion Saved On Prohibition Enforcement Costs
The government would save an estimated $13.7 billion on prohibition enforcement costs and tax revenue by legalizing marijuana, <a href="http://www.huffingtonpost.com/2012/04/17/economists-marijuana-legalization_n_1431840.html" target="_hplink">according to a paper endorsed by 300 economists</a>.
Marijuana Inmates Cost Prisons $1 Billion A Year
Inmates incarcerated on marijuana-related charges cost U.S. prisons $1 billion annually, according to a 2007 study, <a href="http://www.alternet.org/rights/47815/" target="_hplink">AlterNet reports</a>.
Marijuana Prohibition Costs Taxpayers $41.8 Billion A Year
Including lost tax revenues, a 2007 study found that enforcing the marijuana prohibition costs tax payers $41.8 billion annually, <a href="http://www.forbes.com/2007/09/29/marijuana-laws-work-biz-cx_qh_1001pot.html" target="_hplink">Forbes</a> reports.
California Marijuana Crop Worth $14 Billion A Year
Marijuana growers account for <a href="http://www.time.com/time/nation/article/0,8599,1884956,00.html" target="_hplink">$14 billion a year in sales in California</a>, making it the state's most valuable cash crop, TIME reports.
Illegal Marijuana A $36 Billion A Year Industry
It's estimated that <a href="http://madamenoire.com/106691/capitalizing-on-the-billion-dollar-marijuana-industry/" target="_hplink">illegal marijuana is a $36 billion industry</a> in the U.S., MadameNoire reports.
One-Third Of Americans Think Legalization Would Boost The Economy
About one-third of Americans say they think <a href="http://www.huffingtonpost.com/2010/04/20/legalizing-pot-will-not-b_n_544526.html?" target="_hplink">legalizing marijuana would boost the economy</a>, according to a 2010 poll by Associated Press-CNBC.
Dispensary Ads Boost Newspapers' Revenue
The <em>Sacramento News and Review</em> saw a big boost in ad revenue when it offered advertising space for more than 60 medical marijuana dispensaries, enabling the publication to hire three additional employees, <a href="http://www.news10.net/news/local/article/144285/2/Marijuana-ads-mean-big-money-for-weekly-newspaper" target="_hplink">according to News 10</a>.
Mendocino Zip Tie Program Raised $600,000
Mendocino County, California's zip tie program aimed at regulating medical marijuana growing by charging permits for each plant raised <a href="http://www.huffingtonpost.com/2012/01/09/medical-marijuana-license-mendocino_n_1193198.html" target="_hplink">$600,000 in revenue in for the Sheriff's department</a> in 2011.
Oakland Raised More Than $1 Million In Marijuana Tax Revenue
The city of Oakland, California raised $1.3 million in tax revenue from medical marijuana dispensaries in 2011, 3 percent of the city's total business tax revenue, according to <a href="http://www.nytimes.com/2012/02/12/us/cities-turn-to-a-crop-for-cash-medical-marijuana.html?_r=1" target="_hplink"><em>The New York Times</em></a>.
Colorado Pulls In $5 Million From Pot Sales Tax
In 2011, Colorado pulled in $5 milllion in sales taxes from medical marijuana businesses, <a href="http://www.nytimes.com/2012/02/12/us/cities-turn-to-a-crop-for-cash-medical-marijuana.html?_r=1" target="_hplink"><em>The New York Times</em></a> reports.
Legal Marijuana Could Be $100 Billion Industry
Economist Stephen Easton estimated in 2010 that <a href="http://www.businessweek.com/debateroom/archives/2010/03/legalize_mariju.html" target="_hplink">legal marijuana could be a $45 to $100 billion industry</a>, <em>Bloomberg Businessweek</em> reports.
Each weGrow Center Creates 75 Jobs
When hydroponic marijuana growing supply chain weGrow opens a new store it <a href="http://aznow.biz/small-biz/wegrow-phoenix-opens-cultivates-opportunities-arizona)" target="_hplink">creates an estimated 75 jobs</a> indirectly, according to AZBusiness Magazine.
Majority Of States Support Taxing Marijuana
More than <a href="http://www.huffingtonpost.com/2010/04/20/legalizing-pot-will-not-b_n_544526.html?" target="_hplink">60 percent of states agree with taxing marijuana</a>, according to a poll by Associated Press-CNBC.
Marijuana Affects Workplace Motivation
A Norwegian study 25 years in the making came to the shocking conclusion that <a href="http://www.huffingtonpost.com/2012/02/24/marijuana-use-has-adverse-affect-workplace-motivation_n_1300278.html?" target="_hplink">frequent marijuana use lowers employees' motivation at work</a>.
More Than 1,000 Dispensaries In California
There could be more than 1,000 medical marijuana dispensaries operating in California, <a href="http://www.pasadenaweekly.com/cms/story/detail/how_does_your_pot_grow/8070/" target="_hplink"><em>Pasadena Weekly</em></a> reported in 2009.
Denver Counts More Dispensaries Than Starbucks
As of July 2011, the city of Denver <a href="http://www.huffingtonpost.com/2011/07/06/medical-marijuana-denver-starbucks_n_891796.html" target="_hplink">counted more medical marijuana dispensaries than Starbucks franchises</a>.