"Form 8-K for MEDBOX, INC.
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24-Jul-2015
Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders
On June 30, 2015, the Board of Directors of Medbox, Inc. (the "Company") and the holders of a majority of the Company's voting securities approved by written consent an amendment to the Company's Articles of Incorporation to increase the authorized number of shares of the Company's common stock from 100,000,000 shares to 400,000,000 shares, par value of $0.001 per share. The Company's Board of Directors approved the increase of authorized capital so that it will have sufficient shares of common stock available for issuance upon the conversion or exercise of currently outstanding convertible debt securities and warrants and for future capital raises. Approval of the stockholders was obtained without a meeting in accordance with Section 78.320 of the Nevada Revised Statutes. The Company intends to file with the Securities and Exchange Commission a Schedule 14C Information Statement regarding the matter submitted to a vote of our security holders. The increase of authorized capital approved by the stockholders will not become effective until at least 20 days following the date on which a definitive Schedule 14C Information Statement is mailed to our stockholders of record as of July 22, 2015.
As of July 23, 2015, 57.13% of the voting securities of the Company entitled to vote (or 88,099,395 of the 154,209,508 possible votes) have voted to approve the increase in authorized capital of the Company. There were no abstentions or consents withheld. "
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