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ROTFLMAO, -0.80% in the red.
LOL
Is there any proof to support this speculation?
Don't need to look that up, have seen that happen time and time again.
That's why getting traditional financing is key to the entire MJ sector, including MYDX, is the next step to better times.
And be sure to Google that $7,400,000 deal GRNH announced not long ago, complete with check in hand.
It's one thing to be taken for a ride for something to the tune of four or even five figures, but seven?
Whether or not that Chinese deal was real, it was a stupid move to try and expand before the very basic (US sales) element was even established onto a solid foundation. MYDX needs to learn to walk before it runs.
Which GRNH shareholders are you referring to?
The entire MJ sector is bleeding. That's why, to me, what companies in the sector say should be scrutinized even more....under the "sometimes things are too good to be true."
Still, while there are things said by the company that are true, it often goes to "where there's smoke, there's fire" saying -- for MYDX and any nano-cap MJ company.
Like any country's economy, you have to spend to goose things. And that's why when "record sales" for a company as young at MYDX often shows high "cost of revenue" numbers. That's why a 1:10 ratio needs work.
Which MJ stocks are you referring to?
Okay, then it's fair to say that MYDX has record debt as well.
And MYDX had record losses with the dead $1,700,000 deal with China.
Wrong.
Yazbeck used the word "record" many times in describing Q4 2016 sales, and the SP is down more than 50% since the 10-K release.
And since the 10-Q release, MYDX hasn't finished a days in the green.
"Record" won't mean anything when multiplying debt and dead Chinese deals are also in those reports.
Yazbeck used the same word in describing Q4 2016 sales, "record." MYDX barely has ANY history of product sales, so yeah, almost anything can be described as "record." At some point, describing it as such loses its oomph.
That $170k brings up another question. $170k of unit sales equals 243 units (at $699 each). Why did Yazbeck tout 1,000 units to be retrofitted and "delivered?" That doesn't mathematically line up. Then again, it's probably Yazbeck's "crisis communications" team making things sound bigger than they are.
Even if Yazbeck uses the term "record" again, will it really matter on the balance sheet? Debts are mounting, and $1,700,000 China deal went poof with barely an explanation (compared to the "detail" Yazbeck has given on other MYDX issues).
Just more MYDX word salad.
It's amazing how the reaction to MYDX losing $1,700,000 is so casual and "whatever" -- this company needs cash badly, and now everybody has their hopes based on 1,000 devices being retrofitted.
Well, at least some people see the importance given how MYDX closed down another nine percent today.
"Trying to go huge internationally" is a mistake in of itself -- if one is to really believe that effort actually happened.
A company that spent $1,700,000 to "go into China" that reported $85,391 of revenue last quarter IS a big deal. MYDX hasn't made any splash into the U.S. market, and they're thinking they're going to "go huge" overseas?
Again, provided if one really believes that money actually went to China.
$200,000/699 = 286
So, you're saying MYDX "delivered" 286 additional devices?
Still doesn't add up in the big picture of things.
First, the pen isn't even out there. The company said it's going to be the second half of 2017, so how can there be a "revenue stream" for that? If anything, it's adding to the debt.
That quote from MYDX of "Newly created licensing revenue stream topped off year end results as the company developed ways to monetize its extensive proprietary data. Gross Profit increased by 131% year over year due to the development of additional revenue streams with more favorable profit margins" is more word salad. Seriously, take a look at the wording.....
"Topped off year end results" -- what does that mean? It could mean it added one cent to the results or any other number.
"the company developed ways to monetize its extensive proprietary data" -- again, it's that thing of making people think things are happening when they are probably not. Seriously....Yazbeck has no problem giving specifics when it comes to court settlements or number of devices being retrofitted, but doesn't say there how much revenue is coming from the company's "extensive proprietary data?" That huge gap in candor makes no sense.
I think it's the other way around -- licensing revenue, but paltry device sales.
Look at the $85,391 in revenue for Q1 2017, then look at the $138,000 in "licensing revenue" from all of 2016, as filed in the 10-K. The licensing revenue is a quarterly average of $34,500.
Now, assume Q1 2017 got the same $34,500 in licensing revenue. That would mean MYDX got $50,891 in sales revenue. Divide that number by the device cost of $699 -- that means they sold 73 devices in Q1 2017.
I emphasize that $34,500 in licensing revenue is an assumption. Because, if the licensing revenue went up, that means the device sales were down, even lower than that 73 number stated earlier.
And that is why the PR issued earlier this month does not make any sense. And why things are not looking good for MYDX.
"Possible?' The post about MYDX I referred to said this.....
"Six revenue sources" and $85,391 in revenue in the last quarter (according to the 10-Q released yesterday), producing an average of $14,232 from each of those "six sources."
Is there a reason Yazbeck has licensing revenue itemized in the 10-K, but didn't do that in the 10-Q yesterday?
Another example of Yazbeck dangling the carrot in front of people, making it sound like something is going to happen.
Pay very careful attention to what he wrote. He didn't use the word(s) "currently in negotiations" or "is negotiating" (which other companies use), he used "intends."
Seriously, Yazbeck is making everyone believe something that is not there at all.
Not arguing at all, just pointing out a fact.
MYDX is barely keeping its head above water with what it has right now, they don't have the resources or funds available to go off onto a new wild goose chase.
Big Pharma is not going to buy MYDX. They are very anti-medical marijuana, and lobby Washington DC regularly to hold it down.
Other companies already make breathalyzers, MYDX would be too late to that game. BLOZF has the breathalyzers.
Again, more MYDX word salad.
A company that goes out of its way to update progress on things, including suing a lender, simply sweeps a $1.7 million investment and whistles innocently as if nothing happened? This doesn't sound the least bit suspicious at all?
Notice how in the text that was quoted and in the PR the company does not say how many devices were truly backordered? It just says a flat 1,000 devices.
The wording tried to give the impression it's 1,000 devices, when in reality the actual number is unknown.
More MYDX word salad.
LOL, right. Sales down because they were sold out.....right.
When that "news" was released was when Yazbeck realized how bad the quarter to quarter sales was gong to be down 48%.
China deal gone and increased debt to show for it. Solid work, Yazbeck.
$1.7 million investment in China gone, with nothing to show for it, sales are down, a tenfold increase in net loss year to year and $6.6 million in liabilities. Yeah, that $133k cash in hand is gonna go really far.....LOL.
That "good buddy" Daniel Yazbeck managed to somehow spend $1.7 million on some China deal that never materialized. Poof....gone, nothing close.
And the sales are down 47% from Q4 2017.
How is anything in this 10-Q good?
Nothing happening?? LOL, GRNH is in the green.
I am not saying those numbers in the PR are wrong, it is likely the highlight of the report, the crown jewel of the news.
I am saying Yazbeck wants everyone to focus on that, as there is likely additional debt and some other bad news. Debt is to be expected, but the growth of it could be jolting to some. It may not, we'll see it when the doc comes out.
Yazbeck up to his games, telling us what he wants us to know. No actual 10-Q document, just another PR. Raises expectation of not-so-rosy numbers.
LOL, no it's not, Yazbeck released a PR highlighting what he wants you to know. There's nothing on OTC Markets.
Again, this is the pump before the actual document will be released.
Funny how the investors call transcript was brought up.
Take a look at the opening comments, in the first paragraph, Yazbeck said the auditors are still working on the information. Then, magically, after the call, the financials were released. Thing is, the financials included a letter from the auditors saying they were completed two days earlier, on April 18th.
On top of that, he released the 10-K a couple of days later than when he told the SEC he said he would, waiting until the magical 4/20 date for one last pump.
That's the textbook definition of playing games.
And now today, everybody expecting the report pre-market. Nothing.
Yazbeck has that MYDX carrot dangling in front of people.....as usual. The longer this goes on, the more reason to believe there is information in the financials he doesn't want to share.
The MYDX CEO has a history of playing games with the release of his financials. He'll do it on his terms, not SEC timelines.
That's the guess, but the MYDX CEO likes to play games with releasing financial documents.
Number of patents isn't remarkable, it's whether or not they are useful.
Which direction?
Is that list of dispensaries that use the MYDX product coming soon? Would love to verify, as I have some questions.
Seems like the question was asked and answered about MYDX "Crisis Communications" in the company's own 10-K SEC filing. That document was released one month ago today. Not sure how much more current the answer can be.
Even more current are the revenues, including the $7,400,000 deal announced in March.
There's only so far claiming shorts and MMs being he ones to hold an SP down, MYDX or whichever company. Sometimes, it's just potential investors not seeing what others see in a company.
???? MYDX is down 5% (again) so far.