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Honest question for MYDX investors/supporters...What events (or lack thereof) would change your mind about the company?
If the Ecosmart PEN is still not out in 2025, and no other products have been released, will you still support Yazbeck as a visionary?
It's actually 7.8 Billion...
because the CEO (lone employee)...owns 51 Series A Preferred Shares. Which forces the company to reserve a multiple of 102% of the currently issued shares. So the CEO will always retain voting majority.
Please provide examples of the accosting that has occurred in the past 6 months.
And this won't be the 1st or 2nd time MYDX doesn't hit the release date that is/was posted on that very same webpage.
You are very trusting of the CEO that just diluted current CS holders by converting Series B shares into 1,750,000,000 shares for himself just 2.5 months ago paying a price of $0.0001 per share.
Actually, incorrect, I forgot to add the additional 1,821,428,571 shares he received due to the Series A Preferred shares that must be 'issued' to account for a 51% voting rights.
So, really, he just diluted CS by 3,571,428,571. Issued shares jumped from 3,807,739,05 to 7,379,167,628 rather quickly.
Cuts the value of 1,000,000 shares very quickly for a CS holder.
But unlikely.
Correct, CS investors have no recourse when Yazbeck screws them over in a few weeks with the R/S.
And MYDX has also lied directly to the public TWICE on the Pen release/pre-order date, currently working on a 3rd instance
Which has confirmed my speculation that Yazbeck lacks the ability to execute his way out of a wet paper bag with scissors in his hand.
However, Yazbeck is wonderfully & beautifully litigious that likes to pay himself with investor's money and provide nothing in return.
The case may never make it to trial. It's speculative to say there will be no settlement prior to the court date.
1:2500 ratio. Before the end of August, and before the release of the EcoSmart Pen (if that ever occurs).
It gives Yazbeck the most flexibility to have issuable shares for paying debt and building partnerships.
Yazbeck only has about 1 Billion issueable shares left, since the Series A Preferred stock automatically receives rights to 51% of CS shares with each new share issued. With the current structure, if MYDX has 10 Billion shares authorized, and 51% of CS issued will always be Yazbeck's, Then in reality, MYDX only ever has about 4.9 Billion shares that can be issued.
Last SEC doc denoted 3,849,270,211 CS issued. So MYDX only has about 1.05 Billion share available to issue currently, assuming no additional sharea have been issued July 2th filling.
Details and possible outcomes of most recent public SEC fillings regarding an imminent R/S should be talked about too.
Seems like the possible SP range is rather normal distribution model.
The stock price may rise to just under $9 overnight with a 1:2500 R/S.
And then be subsequently diluted will additional shares issued, and an existing $100 investment may be worth less than $10-20 within 6 months.
Same can be said about legal cases. Pointless discussion until cases are settled, ruled or closed.
So, just like the Corp Articles amendment in Nevada, it will just require a legal submission with no additional notification to the public required (since majority shareholders have already approved).
With as beautifully litigious MYDX is, it won’t be deemed illegitimate or fraudulent.
Talk about no CORPORATE GOVERNANCE = MYDX!
Corporate governance controls the internal and external actions of managers, employees and outside business stakeholders, yet at MYDX, Yazbeck (1 person) is the audit, ethics, governance and compensation committees.
LOL. Checks and balances via dictatorship, that retains majority shareholding voting rights too!
Board Committees
The Board has established an Audit Committee, a Nominating and Governance Committee, an Ethics Committee and a Compensation Committee. The Audit Committee reviews the results and scope of the audit and other services provided by the independent auditors and review and evaluate the system of internal controls. The Compensation Committee manages any stock option plan we may establish and review and recommend compensation arrangements for the officers. The Nominating and Governance committee assists the Board in fulfilling its oversight responsibilities and identify, select and evaluate the Board and committees. The Ethics Committee is responsible for overseeing compliance with the Company’s Code of Ethics.
As of the date of this report our sole director serves on each of the Board committees.
R/S is FULLY AUTHORIZED, just not enacted by filling the paperwork in Nevada.
MYDX is not required to tell anyone except Nevada the state of Nevada that is it amending the Articles of Incorporation with a split ratio of X:Y.
The FINRA does NOT have to 'approve' anything...just be informed the Articles of Incorporation were updated.
And this statement denotes MYDX has already authorized.
"Grant discretionary authority to the Board, at any time or times for a period of 12 months after the date of the Written Consent (as defined below), to adopt an amendment to the Company’s Articles of Incorporation
The board consist of 1 person, CEO and Majority stockholder, Yazbeck.
Classic review posted in that link LOL!!
"Worst Interface, no buttons are aligned with where you have to press. Disconnects every time just before an analysis is done... shockingly bad considering the price for the device itself and having to use this app. Very disappointed"
Does anyone have any evidence that MYDX has submitted any "501 K Process" paperwork?
A link?
A web article?
An audio clip quoting Yazbeck?
Nothing? No one has anything that proves MYDX still won't have to wait another 90 days to release the EcoSmart Pen until the FDA "clears" the submission...when/if MYDX ever submits.
Nope, just my opinions and you're just reaching for hope.
All this PR is just for fresh fish in the barrel after the R/S is filled in the next 2-3 weeks.
MyDx is planning to get 510k approval to help leverage our consumer products
LOL...So if MYDX files that submission today...it will be AT LEAST another 90 days before MYDX can release the pen!!
Based on the FDA website:
https://www.fda.gov/MedicalDevices/DeviceRegulationandGuidance/HowtoMarketYourDevice/PremarketSubmissions/PremarketNotification510k/default.htm#who
Unless exempt, introducing a device into commercial distribution (marketing) for the first time. After May 28, 1976 (effective date of the Medical Device Amendments to the Act), anyone who wants to sell a device in the U.S. is required to make a 510(k) submission at least 90 days prior to offering the device for sale, even though it may have been under development or clinical investigation before that date. If your device was not marketed by your firm before May 28, 1976, a 510(k) is required.
I literally spit out my drink laughing when I read that.
Why is Yazbeck in charge of 7 different trust owning MYDX stock? (not including YCIG and personal holdings)
Doesn't that seem odd to need that much legal separation? Especially for the CEO of the company.
I'm in agreement with consumer owned, hand-held testing devices being valuable, and patient management/care is up to the patient.
What I'm concerned about, is the EcoSmartPen does not analyze for harmful chemicals...nor has there been any proof CannaDx can either.
A glucose meter provides estimates of glucose levels in the sample given. The MYDX products provides identification based on the aromatic diversity (terpene) and which data points in their DB that currently aligns with...not a actual analyse of the product for THC or chemicals that is being tested.
My honest concern is potential future litigation from consumers that consume dangerous substances while using the EcoSmart Pen, and say they were using MYDX to "Trust & Verify® what they put into their mind and body"
Testing contents of your blood is WAY different than testing a plant to be smoked that could potentially contain any lethal substance on the planet that it is grow near or fertilized with.
Also are you comparing "partaking" to diabetes?
There are so many things wrong with the attempted comparison here.
MYDX is preparing new tech mediums to tout for a fresh round of sheep after the R/S in a few weeks.
New lab startups, funded by CVs that see the demand and have a history of getting the right people together to accomplish task and execute as a business.
MYDX does NOT met lab standards, and if suppliers need to be certified to sell, they MUST find a certified lab. MYDX has done NOTHING to fill that void and has no approvals by any government agency to fill that void. Nor has there been any PR for MYDX in that area, except the word application carefully placed in a the same statement as seeking CA medical device with no true intent.
MYDX is NOT capable of providing what is inferred. And will need 100s of millions in investment to acheive that.
I estimated...oh no the humanity! I must be a defendant in a MYDX case and trying to scare people versus logically warning.
Sometimes facts are just plain scary. Such is life.
Thanks for proving my point...Shares diluted 8-to-1 since the 1st R/S announcement.
Yaz does not have enough shares available to issue to do that again, hence why I say the R/S is imminent.
Gotta keep the ATM open.
December 30, 2016 - 455,714,173 CS + 51 Series A = 930,008,529 outstanding shares)
Currently - 3,849,270,211 CS + 51 Series A + 107,000 Series B = 7,855,588,217 oustanding shares.
Better?
It's approved and authorized, MYDX does NOT have to provide any announcement of the R/S ratio, only file the paperwork in Nevada to activate it. Clearly written in the 14C filed.
# of shares available to issue is the key issue forcing MYDX to the R/S. In 2017 it was 8,190,971,036 of 10,000,000,000 available to issue. Currently it is only 2,144,411,783 of 10 Billion not yet authorized. (3,849,270,211 of CS, 4006318006 owned by Yaz, (4006211006 based on the 51 Preferred Series A, 107,000 based on Series B Preferred).
Why does Yazbeck need 7 different trusts he is in charge of to hold shares of MYDX for him? SHADY!!!
Just a footnote from the Form 4 filed earlier this year.
Beneficial ownership of Daniel R. Yazbeck, directly and indirectly, as of the date of the filing of this Form 4 consists of 10,000 shares held directly by Mr. Yazbeck, 9,132,500 shares held by seven trusts for which Mr. Yazbeck serves as trustee, and 1,780,000,000 shares held by Mr. Yazbeck and YCIG, Inc. (an entity over whose securities Mr. Yazbeck has sole voting and sole investment control).
MYDX.So.Bullish.It.Closed.RED.again.today
It's more likely Yazbeck will dump any CS he owns, since he knows they are useless and that's free cash for his pocket.
CS is just spending money when you have 51 Series A Preferred Shares that retain complete control of the company until infinity.
What makes more sense...as a 51% Shareholder,no matter the # of CS outstanding, which is what Yazbeck is (how the Series A Preferred shares are defined).
1.) Perform a R/S, get the stock price up, then drop the Pen to help bump the stock price up more, so you have cash coming in, and available stock for issuing to form new partnerships.
OR
2.) Release the Pen, have cash coming in, then have to perform an R/S to have stock available for issue to create new partnerships.
My money is on #1.
Actually I copied from the 14C exactly where MYDX mentioned the FINRA
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142513881
But I understand, English is hard.
14C says it very bluntly...
Economics of the company small at best:
The Board believes that in order to provide a meaningful level of earnings per share, assuming the Company achieves profitability, the Reverse Split may provide a share count that is more consistent with the Company’s potential economics.
Smaller reduction in the negative per share earnings will appear like better news to the CS holder when there are less shares:
Specifically, the lower share count may facilitate meaningful levels of per share earnings and better enable our shareholders to identify changes in operating results as the Company potentially moves towards profitability.
More shares to authorize = new flocks of gullible sheep:
The Board further believes that an increased stock price may encourage investor interest and improve the marketability of our Common Stock to a broader range of investors, and thus improve liquidity.
R/S Within 30 days, just watch.
MYDX.14C.note.regarding.approval.from.FINRA.is.a.rouse.
Be Wary of Announcements Regarding FINRA "Approval" of a Corporate Action
Companies undergoing a corporate action often issue a press release or other communication, such as a tweet or other social media post, to provide details of the change. For instance, a company might announce a new corporate name that reflects a change in product lines or business focus. However, in the past, some companies have used these publications to suggest that FINRA has somehow "approved" a corporate action or that a corporate action will be effective once FINRA approves it. To clarify, this is not the case: FINRA does not approve corporate actions.
http://www.finra.org/investors/highlights/corporate-actions-public-companies-what-you-should-know
Incorrect...
If the Board elects to implement the Reverse Split, which the Board may choose not to do at its discretion, the Reverse Split will become effective following the approval of the Financial Industry Regulatory Authority and the filing of an amendment to the Articles of Incorporation with the Secretary of State of the State of Nevada. The Plan will become effective on or after August 13, 2018 (twenty (20) calendar days after the mailing of this Information Statement). The Company will pay all costs associated with the distribution of this Information Statement, including the costs of printing and mailing.
As the Majority Shareholder has already approved of the Corporate Actions via the Written Consent, the Company is not seeking approval for the Corporate Actions from any of the Company’s remaining stockholders, and the Company’s remaining stockholders will not be given an opportunity to vote on the Corporate Actions. All necessary corporate approvals have been obtained, and this Information Statement is being furnished solely for the purpose of providing advance notice to the Company’s stockholders of the Corporate Actions as required by the Securities Exchange Act of 1934 (the “Exchange Act”).
The Company’s Board approved the Corporate Actions effective July 5, 2018, and fixed the Record Date as the date for determining the stockholders entitled to give written consent to the Corporate Actions. As of the Record Date, the Majority Stockholder held an aggregate of 51 shares of the Company’s Series A Preferred Stock1, being equal to 4,006,211,006 total voting shares and 51% of the total number of voting shares then outstanding. While the Majority Stockholder owns shares of Common Stock, he only voted using his Series A Preferred Stock votes.
So you have a MYDX ECOSmartPen in your possession? Or is this a faith based statement?