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Based on what? Just how many people are in the market for the MYDX device?
Promotions do not create a need for something.
McDonald's thought the MCDLT was a good idea. HP tried the Touch Pad, Microsoft made the Zune, New Coke, Crystal Pepsi, Edsel....need I go on? All of those had promotions and marketing budgets that dwarf the coverage MYDX got with its device.
How much sales did MYDX get from those touted product tryouts in Flint, MI and Alabama?
The MYDX hype was not created from those shows, it happened when Yazbeck issued those 8-Ks that provided the illusion that MYDX was debt-free (digressing on the $35k convertible). The company got rid of a specific debt, but obviously not of all the debt.
It's ridiculous to think that a company at MYDX's stage would be debt-free, but that is what the PRs want to make potential investors think.
Having over $26,000,000 in cumulative debt is a huge black cloud over the company. It's going to take a LOT more than crafty-worded PRs and being on TV to get out of that hole.
"Vape pens" and supposed deals in China aren't going to address MYDX's immediate need of cash.
It's been four weeks now, and MYDX is at $0.0122.
What happened to that .05-.10 prediction?
And where in the MYDX SEC filings did it say that about an RS?
If they're around that long.
He's got bigger fish to fry, such as keeping his company financially afloat.
It's not uncommon for micro-caps to have dire statements in there. When weighing the health of a company, you really can't focus exclusively on on paragraph.
To answer your question, it is a concerning paragraph when you consider the numbers. Since the debt has increased three-fold, the MYDX CEO is likely going to have to get very creative on somehow getting financing.
It appears the company is going heavy into the MJ sector with this "vape pen," so traditional financing is not gong to happen. Likely looking at the return of dilution, toxic debt and/or a reverse split.
Completely agree with your points about the financial state of MYDX.
Looks like you're one of the few who consider technicals when it comes to this company.
Since the company disclosed on its 10-K they use a company to promote MYDX, it is very likely there will be plenty of notice in the form of PRs to whip up more frenzy, hype and to make it as splashy as possible. Nobody will be caught be surprise.
First, if you were "on my ass," I too would say anything to get you off my ass.
Second, and I know this first-hand, James and GRNH Investor Relations are two separate people.
Third, in my opinion, openly admitting harassment of the CEO doesn't help GRNH investors, or the SP, one bit.
Who are you referring to when you say you "have been on their ass?"
LOL. Of course. $38k cash in hand and nearly triple the debt on the last MYDX 10-K. All the more reason TO DA MOON!!!!!
But I was told the 10-K was going to put MYDX to a nickel.
Why don't you contact investor relations and ask when it will be released?
Anybody who has done their due diligence on any stock, let along AGTK knows that California recreational marijuana won't be happening until 2018 at the earliest.
Secondly, people who have done their due diligence also know AGTK deals in medical only.
The company has been very clear in how it is accumulating properties and they expect development and leases to return revenue and profits in 2017.
Where did you see that in the MYDX 10-K? It said financial problems may delay new product launches, but I can't find language that says they stopped.
Because it's not news of immediate revenue. That is important, because right now, MYDX is in need of revenue, not some fluff PR about product of questionable demand coming out later in the year.
Check Google now, the GRNH filing I said would come out on or before April 15th is there.
I do agree that if the decision on MJ comes down to presidential ego and image, re-classification could be closer than we think.
Canada may have a little influence, but all I see in the immediate future is the Border Patrol increasing catches with people with MJ.
Enemies to MJ sector and MYDX moving forward are US Attorney General and Big Pharma lobby. If those are tackled, financing opens up, the sector and MYDX takes off.
No, I don't.
Boston Scientific, regardless of the sector, is working within federally legal areas, basically in cahoots with big pharma.
And big pharma is doing everything they can to hold down the MJ sector, including any company that deals with marijuana in any way, including MYDX.
From a business standpoint, look at the cursory comments Yazbeck made in PRs about being involved in Flint, MI and Alabama about water issues there. He gave demo units to people there, but there's no mention of contracts signed from those efforts.
Again, he's clearly positioning the device for cannabis use. Don't believe me? Just look at the presentation he issued last week.
Going back to your point, the growth of the MJ sector heavily depends on MJ beating down big pharma. If and when MJ gets federally re-classified, that when a lot of these nano-caps in MJ sector, including MYDX, will take off.
This is hilarious. You're saying that marijuana is not a factor in the MYDX business model and implying Yazbeck has NOT gotten any "professional advice" this month when.....
- His presentation had CANNABIS written all over it, and comparing MYDX to other MJ related companies.
And
- He embargoed his own 10-K filing (even the auditor's signature was dated April 18th) and felt the need to give everything one last pump prior to releasing the document on 4/20?
C'mon.
Let's see, the country is on the brink of going to war with Lil' Kim in North Korea, US Attorney General reinforces his disapproval of marijuana, DHS Secretary is forced to reverse course on marijuana comment, Sean Spicer makes a passing comment about MJ that sends the sector into a tailspin.
Out of all that news, how do you see the marijuana sector and MYDX lending gaining federal approval?
Any update on this MYDX prediction?
Again, if MYDX has not in marijuana sector and can get traditional financing, then why the toxic debt in the first place? Why can't Yazbeck just say "MYDX is getting a loan from (insert major bank)?"
Yazbeck pays someone on how and when to communicate stuff (that's in the 10-K), it makes zero sense to not say he's getting traditional lending. In fact it would be in the company's best interest to do so, given how the debt has tripled (again, according to the last 10-K), and how he likes to manipulate share price through PR.
If MYDX "can be financed by any lender," then why couldn't Yazbeck just drive down to a B of A branch and apply for a loan?
Because federally insured financial institutions cannot do business with companies that work in MJ. We also know that publicly traded companies can't be directly involved in directly growing marijuana. We all know MYDX does not grow MJ, but they ARE involved.
Go to the bucketload of PRs Yazbeck has issued, and do a word count on "air," "water," "cannabis" and "marijuana." See what the word count comes out to for each.
THAT is the kind of stuff lenders are going to look at. If lenders won't let their employees use MJ, why in the world would mainstream lenders go against federal law to loan to companies involved in MJ?
If a loan was so easy to get, Yazbeck wouldn't be doing these silly tricks in withholding his 10-K and doing a major publicity stunt ON 4/20.
Why would MYDX need a promoter, anyway? Investors will flock to companies with good financial reports. At least that's what the buzz was last week.
No traditional lender will lend to any company involved in MJ. And while it's not the only part of the sensor, MJ is a big part of the MYDX pitch.
It's not just federal regulations, lenders will want to look at financials as well.
Sure, there are some companies that would stick their heads out and lend, but then MYDX would likely be going back to that toxic debt thing.
If you're referring to the $210k they got in the court settlement, the 10-K showed that's a drop in the bucket compared to MYDX debt.
Agreed. Many nano-caps have dire boilerplate statements like that. It's the numbers that play a big role (but not the only role) in determining whether it would be wise to roll the dice in MYDX or any other nano-caps.
This is what Yazbeck said on the call regarding a reverse split for MYDX,
"At this time, I don’t see a need for the reverse split, but we maintain the right to do that, of course, should the right institutional investors come on board. But at this time, I don’t see a need to do the reverse split."
Whether MYDX actually does a reverse split remains to be seen. What he said Is the textbook definition of leaving it on the table, that is hardly a "no."
Look at 2HaveKnowledge's sticky (second from the bottom). It's at least $250k, whether that's the entire amount is doubtful.
10-K information is nonsense?
It's not about catching flights. The TSA example is the closest comparable, most tangible way to explain how I feel of the current inefficiency of the MYDX reader to analyze things.
Like I mentioned before, if you think three minutes is perfectly normal and acceptable, I'm not going to argue with anyone. I am stating my opinion through DD and what I think is acceptable in a very short-attention span, instant gratification society we all live in.
I just know that if it took three minutes for a traffic light to change, that wouldn't be acceptable to most (cycles are usually 30-45 seconds). If it took three minutes for a web page to load, we'd be checking settings, checking Down Detector and calling people to ask why. We get irritated when we sit on hold for that long too. That's where I'm coming from.
Again -- my opinion -- is that I don't think a lot of people are going to be happy dropping $700 to $800 (factoring in sales tax) and having to wait that long. The internet and the immediacy of being able to do things has spoiled society and ramps up expectations.
Again, it's just my opinion about the MYDX product.
This is the best picture I could find. TSA is not going allow up-close pictures. There's a reason the machine in the picture is in a pseudo cubby hole (Google "TSA SSI" if you want to know how secretive they like to be).
http://www.cnn.com/2010/TRAVEL/02/17/tsa.hands.swabbing/
Don't know how else to better explain than what I have already done. The comparison to that machine to what MYDX offers is not in the ability on what to analyze, but rather the SPEED in which it takes. Again....three seconds for the TSA machine, three minutes for MYDX machine.
Yes, there are specific readings on those airport devices. Those machines are also capable of printing a strip, similar to an EKG machine at hospitals. Next time you go through a TSA checkpoint, just walk by the machines and check out what the screens say.
If you really think three minutes is acceptable for MYDX's machine, that's perfectly fine. I only ask to respect my opinion is it not.
I do not simply go off of SEC filings and PR to judge whether or not to invest. I need to believe in the product and management team. From what I see on the MYDX website about the product and what Yazbeck says, and with what are obviously phony reviews on Amazon, the product and company has a ways to go before being ready for prime time.
I totally get companies in this situation are saddled with debt and legally required to disclose dire predictions in their 10-K. MYDX is no different. I'm invested in other companies that have such things. Yet they have products I believe in, are ready to go and have people in the company that don't, in my opinion, come off as used car salesmen who will say anything. And that is my current opinion of the MYDX CEO.
The quote, according to a different post, was, "no reverse split right now."
If there was NEVER going to be an RS, he should have said so...and going by how PR savvy the MYDX CEO is, he knows that. But he can't.
And in fairness, no CEO of any nano-cap MJ stock should ever say that given the volatility in the sector.
In the long run, if he issues a PR saying there will not be an RS, it would be VERY detrimental the SP and long-term trust if he had to do it. To believe it is off the table permanently for any stock in this sector is utter fiction.
That's not the analyzer at the airports I referred to. The one you linked to isn't even blue.
Look at the time it takes to process this way....send an email to the MYDX CEO and ask him if he is working on the time it takes to process. If he says "yes," that means it takes too long.
The reason I asked that is this: have you seen when people get pulled aside at the airports to get their hands or property swabbed for trace chemical explosive residue? It takes the blue analyzer machine (I think it's called ionosphere or something like that), about three seconds to analyze the sample. On MYDX's website, they have a video that says it takes three MINUTES to analyze a sample. In today's world, that is unacceptable.
The second concern I have with the product is feasibility. I live in an MJ legal state, and the product is HEAVILY regulated, watched and the process is VERY specific. Some have said the sensor can be used at dispensaries. Sellers are not allowed to remove the product from the bag/container in the store, it's bar-coded and sold in its entirety as-is.
The sensor needs to be replaced every six months ($70), and the sample holders (like those airport chemical analyzing swabs) need to be replaced after each use ($1.50).
Lastly, there is no "master database" (no, that's not being touted) of weed chemical analysis. The numbers produced seem to be an educated guess. For the kind of money they're asking, both in initial and recurring costs, none of this really adds up to me in long-term, substantial sales growth.
Those are the real-world, practical issues I have with the device and whether it will really catch on at the pace needed for the company to thrive.
No, but a woeful 10-K can.
Serious question: do you travel by plane in the U.S.?
I'm waiting for something more substantive than fluff PR, such as solid quarterly results. And a product that works in the real world. Is that really too much to ask for from MYDX or any stock?