MYDX NOW! Recent PRs, Financials, Share Structure, Media Coverage: MyDx Featured by Canadian Tier 1 Business News Network (BNN), Toronto Life Magazine, and Global News
CEO Daniel Yazbeck to Speak at InvestorsHub International Cannabis Conference in Los Angeles this weekend http://www.otcmarkets.com/stock/MYDX/news/MyDx-Featured-by-Canadian-Tier-1-Business-News-Network--BNN---Toronto-Life-Magazine--and-Global-News?id=168424&b=y
SAN DIEGO, Aug. 29, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announced that it was recently featured by Canadian Tier 1 Media Outlets including Business News Network (BNN), Toronto Life Magazine, and Global News.
CEO Daniel Yazbeck will also be speaking on a panel at MJAC2017 InvestorsHub International Cannabis Conference entitled "Investing in the Picks and Shovels of the Industry" at 12:00 p.m. Pacific Time on Saturday September 2nd at the JW Marriott Los Angeles. MyDx Reports Second Quarter Results
Company Reports Significant Increase in Gross Profit Margins and Decrease in Liabilities with Gains Leading to Positive Net Income for the Quarter http://www.otcmarkets.com/stock/MYDX/news/MyDx-Reports-Second-Quarter-Results?id=167757&b=y
SAN DIEGO, Aug. 21, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announces its 2Q 2017 results and management analysis.
Financial Results CannaDx Product Revenue increased to ~$126K in Q2 2017, up ~47% from Q1 2017
MyDx sold out of its signature handheld analyzer in Q1 on stronger than expected demand leading to a backlog of orders and customer deposits that are were filled in Q2.
The Company expects to continue to receive consistent growing demand for its analyzer based on word of mouth and referrals mainly as well as a new marketing initiatives the company launched late June which is generating new customer awareness and product orders from Canada.
The company will focus on deploying the EcoSmartPenTM in the second half of this year as well as expand its customer base for the MyDx360 SAAS service beyond the initial BlackSwan/i+Huntr brand agreement which was not recognized as revenue in this quarter.
Gross profit margins as a percentage of net revenues increased to 78% in Q2, a greater than 32% increase from the same period last year, the highest product margins in company history
The gross product margin was improved by an increase in MyDx Grower Packages sold for $899 on our online store, which yield a higher profit margin compared to the standard $699 retail package and a much higher margin compared to units sold through our distribution channels.
Any anticipated future revenue from the company's software licensing and services are expected to have a further positive impact on the overall gross profit margins Research and Development Expenses decrease 81% with new accelerated product development approach
For the three months ended June 30, 2017, the Company expended $27,724 for various research and development projects for hardware, database, software and sensor development as compared to $145,885 for the three months ended June 30, 2016. The decrease of $118,161, or 81%, resulted primarily from the Company taking a more economical and streamlined outsourcing approach to developing new products (such as the Eco Smart PenTM, MyDx360TM, AeroDx®).
The company is taking the same approach to launch its next generation of CannaDxTM, AquaDx® and OrganaDx® products.
For the first time in company history, the company has generated a Net Positive Income as a direct result of a decrease in liabilities and gains generated through other income The Company incurred net income of $2,967,808 compared to a Net Loss of $(936,665) for the three months ended June 30, 2017 and 2016, respectively.
The increase in net income resulted primarily from the decrease of interest expense related to the convertible notes payable, an increase in a gain on fair value of derivative liability, a gain on settlement of debt, and a gain of $135,000 on the forfeiture a technology transfer deposit. These were offset by an increase in derivative expense. New Product Offering Operating Results
The company updated its CannaDx product webpage (www.mydxlife.com) and launched a Marketing Campaign in Canada which is already yielding new sales from customers in Canada.
The company closed its first big customer under its newly created MyDx360 SaaS Licensing and Services platform with an ~$80K agreement signed in Q2 with BlackSwan.
The company spent a lot of product development time and focus on the creation of the MyDx ECOSmart PenTM, a Bluetooth enabled delivery vaporizer pen capable of actively and passively tracking consumption habits as well as other unique features to be announced, and is on track to deploy this product in the second half of this year. MyDx Enters Into An ~$80,000 MyDx360 SaaS Licensing And Services Agreement With Retailer BlackSwan; BlackSwan enters the Delivery Pen and Supplements Markets with I+huntr Brand, Tailored for Performance Athletes, Powered by MyDx360 http://www.otcmarkets.com/stock/MYDX/news/MyDx-Enters-Into-An-~-80-000-MyDx360-SaaS-Licensing-And-Services-Agreement-With-Retailer-BlackSwan?id=162421&b=y
SAN DIEGO, June 19, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for cannabis professionals and retail consumers to correlate the chemical profile of cannabis with how it makes them feel and which ailments they report it alleviates, today announced a definitive agreement with BlackSwan, a developer and retailer of custom vaporizers, to provide a community engagement software platform to support its new product development initiatives under the terms of MyDx360. Licensing Agreement Provides for Branding on Multiple Delivery Mechanisms
As part of the MyDx360 agreement, BlackSwan chose from one of MyDx's base chemical formulations that best alleviated pain and inflammation according to the MyDx community. From there, MyDx software enabled BlackSwan to "boost" that formula by changing various cannabinoid and terpene parameters as well as other natural organic terpenes to come to a final formula uniquely formulated by BlackSwan.
"This uniquely positions MyDx at the center of a revolution in how therapies are developed utilizing chemicals found in cannabis and other naturally occurring plants. The MyDx360 platform makes it incredibly easy for market players to create new high quality tailored formulations that can support their customer's needs. It also speaks to our ability as a company to execute on our vision of creating a brand centric ecosystem powered by community driven data. We look forward to supporting BlackSwan and the development of the I+huntr brand personalized for high performance athletes and powered by MyDx360," said Daniel Yazbeck, CEO of MyDx.
MyDx will continue to work with BlackSwan to support the development of new formulations, which will be manufactured in the form of concentrates via state licensed suppliers, and then delivered via MyDx's hardware, the ECO Smart Pen, and supplements tailored to performance athletes. Once products have been delivered via MyDx's manufacturing partnerships, the MyDx App will provide customer-engagement support to acquire and analyze user feedback. The MyDx White Paper: A practical review of the cannabis testing industry https://drive.google.com/file/d/0B7B53DOpun05...&pli=1
MyDx featured on HBO's Daily News: https://youtu.be/Miv2vHbvdSY Share Structure a/o Aug 31, 2017:
Authorized Shares 10,000,000,000
Outstanding Shares 1,660,404,215
Float 1,403,318,771 EINPresswire: MYDX, the best medical marijuana stock to buy in 2017 http://newjersey.news12.com/story/35699120/the-best-medical-marijuana-stock-to-buy-in-2017
NEW YORK, NEW YORK, UNITED STATES, June 19, 2017 /EINPresswire.com/ Are you waiting to identify the next big game changer in your investment plan? Have you considered getting high on marijuana penny stocks? Investing in medical marijuana penny stocks is the latest craze around Wall Street.
But the question is what are medical marijuana penny stocks? Well, they are all plays on the hitherto forbidden drug, marijuana. The US Government in March 2017 legalized the use of recreational marijuana in eight states, and in 28 states in all, use of marijuana for the medicinal purpose was made legal.
The decision instantly led to a spike in the number of business ventures based primarily on marijuana. From the actual growers to products based on marijuana to pharma companies using it, the list just continues. Needless to mention then marijuana found a way into the stock markets too. The medical marijuana penny stocks are indeed the flavor of 2017.
Should You Invest in Medical Marijuana Penny Stocks?
The question is how wise it is to buy medical marijuana penny stocks and most importantly how do you decide which medical marijuana penny stocks to buy? Here is a quick lowdown on the best medical marijuana penny stocks to buy in 2017 and how wise it is to invest in these counters.
But before that, it is important to understand the business fundamentals of these medical marijuana penny stocks and the risk they embody. After all, you must understand though the use of medical marijuana has been legalized, it is treading into gray zone no doubt. Moreover, political, economic and social factors are also key matters of concern in this matter.
You do not have any major or established player in this field. Most of the medical marijuana stocks that are available in the market are penny stocks. The average share value is less than $1. You do not have companies valued more than $100 million and thanks to them trading mostly in Over-The-Counter and Pink Sheet segments, there is barely any regulation managing them.
Even the other prominent public players have significantly small or no stake in these medical marijuana penny stocks. But does it mean that you should absolutely avoid them? Well, think about how thegoldmining business was in the 19th century? Did you even consider gold becoming one of the biggest international benchmark and hedge it is now? Or think about the way we considered software stocks way back in the 1970s. Who would have thought about the technology boom?
This makes your decision to invest in medical marijuana penny stocks even more difficult is the unabated growth that the sector is experiencing. In fact, legal marijuana sales in the US, as per some recent studies, has risen a phenomenal 36% to close to $7 billion by the end of 2016. The estimates indicate that legal cannabis sales could actually breach the $50 billion mark in another 10 years by 2026. Therefore it becomes very important to choose wisely to get the best medical marijuana penny stocks to buy in 2017.
What Are the Best Medical Marijuana Penny Stocks to Buy in 2017?
In the list of what medical marijuana penny stocks to buy, here are some of the top contenders:
1. MYDX, the ever growing and first company to produce the first battery operated handheld for consumers has opened stock for investors. Investing in stocks is one of the fastest ways to maximize your returns. It is common for investors to grow rich overnight with stock market investments. MYDX is no exception. Leverage on this investment choice without taking on too many risks. MyDx stocks is the right company to invest with. About MYDX
MyDx, Inc. is a science and technology inclined company that is based in San Diego, California. It created MyDx which is the first battery operated, patented, handheld, electronic analyzer for consumers. The company’s mission is to empower people to live a healthier life by revealing the chemicals in what they eat, drink and inhale. This will both help to improve the health of consumers and to protect the environment. MyDx uses nanotechnology to accurately measure chemicals of interest and has multiple sensors being developed in its lab that are compatible with the MyDx App.
The financial health and prospect of MYDX is unbeatable. To enjoy best returns it is advisable to invest in good companies. You can determine a company's quality by its financial health and record of accomplishment with customers and investors alike. For you to keep earning returns the company should continue to perform well in the future too. Why buy shares of MYDX
MyDx is not a new company; it has survived all the rigors that many of its peers did not survive. MyDx has come to stay; this is a fact due to the services it provides. MyDx help to make the consumer healthy by revealing the purity in what we eat and drink. Services like these are never saturated as the world is currently affected with several impurities, in food, drink and even the air we breathe.
Hear what Daniel Yazbeck CEO of MyDx has to say, “We are in the process of positioning the company for long-term stability and growth and we are very excited about our prospect”
About Daniel Yazbeck
Daniel Yazbeck is the founder, seed investor and creator of the MyDx Analyzer. Daniel has worked with Fortune 500 for 15 years. He has worked with the popular Pfizer Pharmaceuticals as a scientist. He specialized in Chemical Research and Development technologies. He has also worked as an Engineer and Strategic Market Developer for Panasonic. He has always been working to ensure consumer protection.
Mr. Yazbeck has been a Cashflow Investor for over 10 years, holds a Master of Science degree in Medicinal Chemistry from McGill University, a minor in Marketing, and is a co-Author on several world patents and research publications.