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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 8.3 of 10 Billion available to issue. Currently it is only 1.9 of 10 Billion not yet authorized. (3.95 Billion of CS, 4.15 Billion based on the 51 Preferred Series A certificates Yaz personally controls).
Previously MYDX (Yazbeck), had 9 billion authorized shares in wiggle room. Now there is only 1.9 Billion shares left to authorize...the 3.9+ billion outstanding CS, and the 4.1 Billion outstanding for the Series A Preferred shares.
MYDX needs the R/S to move forward and be able to issue stock for services, partnerships and raw materials...because MYDX has limited to no cash.
The R/S will happen, and benefit Yazbeck (MYDX), and dilute the current shareholders very quickly afterwards.
R/S.FULLY.APPROVED.AND.AUTHORIZED
No more notices are required except Yazveck filling paperwork in Nevada based on the next 3 paragraphs of the same 14C being quoted
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.
As of the Record Date, there were 3,849,270,211 shares of Common Stock issued and outstanding, 51 shares of the Company’s Series A Preferred Stock issued and outstanding (equal to 4,006,211,006 votes), and 107,000 shares of the Company’s Series B Preferred Stock (one vote per share) equal to 7,855,588,217 total voting shares then outstanding.
MYDX has authorized the r/s, read the next page after what you copied from the 14c. The only thing left to do is file the paper work in Nevada anytime after 8/13. That next page denotes MYDX DOES NOT have to provide any further communication to stockholders, since the majority already voted (1 person) Yazbeck.
Oh yeah, he’s also the entire board also!!!
Lol...sad the denial that is on this board.
FACT - 1:2500 r/s Imminent!
2nd FACT - It was not the defendants
Prove me wrong.
MYDX.So.Bullish.It.Closed.RED.today
Good quote "SP is irrelevant, Quarter reports are key."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131213509
What do you do when both are awful?
Call it MYDX / Yazbeck, stick a CGI video on it and call it soon to be released gold!
MYDX R/S Imminent!! Causing current shareholders dilution afterwards beyond recovery.
No lawsuit can save you from Yazbeck grinching investor money.
Fact, it's not the defendants.
Prove me wrong.
Fact, 99.9% chance its not the defendants. That is just the blame game for MYDX being so so awful...but it's Yazbeck that is just awful.
Maybe Yazbeck is actually worse than the defendants. A R/S anytime soon will confirm that theory.
Is $2500 really worth $1? Do you feel MYDX's SP will reach $9.25 without a R/S?
IF the MYDX R/S goes through, the current Issued vs. Authorized shares percentage drops from 38.493% to 0.015%. That is some incredible potential dilution.
That is a large risk to hold for the next few weeks. The current stock price has to reach $9.25 to turn $1 into $2500.
Possibly ZERO.
Sounds.like.MYDX.is.a.hedged.speculative.investment.currently,not.a.strong.belief.
The 'not-part-of-the-plan' effort of opening a 2nd brokerage account isn't worth the effort/benefit mix to accumulate additional MYDX ownership at a discounted price?
The current SP is too low, so MYDX must to prove it's worth before making additional investment.
Hmmmmm
Only once proven they are better is that an accurate statement.
Some people do not learn and do not improve, just sustain or decline.
FACT=CEO.enacted.NOT.A.CLAIM.CEO.=.51%ownership.of.MYDX!!!
It's clearly stated on page 13 of the 4/17/18 10-k. It's been that way for 18 months!!!
On December 23, 2016, the Board designated 51 shares of Preferred Stock as Series A Preferred Stock (“Series A Preferred”). Among other provisions, each one (1) share of the Series A Preferred shall have voting rights equal to (x) 0.019607 multiplied by the total issued and outstanding shares of Common Stock eligible to vote at the time of the respective vote (the “Numerator”), divided by (y) 0.49, minus (z) the Numerator. For purposes of illustration only, if the total issued and outstanding shares of Common Stock eligible to vote at the time of the respective vote is 5,000,000, the voting rights of one share of the Series A Preferred Stock shall be equal to 102,036 (0.019607 x 5,000,000) / 0.49) – (0.019607 x 5,000,000) = 102,036). On December 23, the 51 shares were issued to Mr. Yazbeck, the Company’s sole officer and the sole member of the Board. Mr. Yazbeck, via his ownership of the 51 shares of the Series A Preferred, has control of the majority of the Company’s voting stock.
The remaining # of non-issued shares that MYDX has left to form partnerships is less that 20% ownership. That does not give MYDX any leverage to form "partnerships" and raise capital by issuing stock. Which MYDX must do to be able to do to afford any distribution of an ECOSmart Pen.
MYDX does not have the same flexibility it had in 2017 when that RS was cancelled, because is the 51% ownership guanrtee of the Series A Preferred shares Yazbeck created for himself.
Why is MYDX lying (not factual)?
The 14C denotes "the Reverse Split will become effective following the approval of the Financial Industry Regulatory Authority"
However...
The FINRA denotes "FINRA does not approve corporate actions."
http://www.finra.org/investors/highlights/corporate-actions-public-companies-what-you-should-know
"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."
The Fact is the R/S is fully Authorized by all required MYDX corporate approvals effective 8/13/2018.
The only step required to enact the r/s is filing of an amendment to the Articles of Incorporation with the Secretary of State of the State of Nevada.
I'm sharing my opinion...you do not have to read it and you are welcome to ignore it.
Morally & Ethically, we are on the same side in support of MYDX and moving forward with the case.
However, this case will not prevent this from happening again in the future to other companies and will have limited/no deterrence for future unscrupulous persons.
You pointed out a flaw in my statement, and I agreed with you.
Moral.legal.victory.does.not.=.profitable.or.viable.MYDX.
It's very plausible, that MYDX does not profitable revenue streams by the conclusion of the trial...even if MYDX wins, that is likely only a moral victory, as recouping of financials is a 10+ year journey, if ever.
If past business execution proves anything, it's that Yazbeck has never created anything of value to the world on his own. Even all the patents he is listed on when he was younger, he was not the lead, just a name on the paper.
Without anything in writing for those partnerships...it's smoke in the wind.
Not trying to scare, you do what you see fit with the information.
However, others, seem to be uninformed.
I agree we would know the ratio before waking up, but it might not be public until after the market is closed the previous day.
Last year Yaz didn't have 8 Billion outstanding shares of 10 potentially issu-able. That is the current scenario, thanks to the Series A Pereferred shares Yaz created for himself, that are always equal 51% of "outstanding" shares.
It is authorized, read all the way to the 2nd page of the 14C.
It's authorized, not yet enacted, but is fully authorized by majority stockholder, CEO and sole Board member Yazbeck!
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”).
I'm not shorting for gain or profiting in my comments, I'm warning the company does NOT have to provide any more announcements before performing a reverse split. I currently hold a long speculative position in MYDX.
So, as of 8/13/18, current stockholders could wake up and find their quantity or shares 1/2500 of what they had when they went to bed.
Yes same value...that day. But then the dilution begins again as Yaz builds verbal partnership agreements.
How profitable have the current verbal partnership agreements been?
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
The Reverse Split IS AUTHORIZED!!!
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”).
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
The Board and MYDX are 1 person, and Yazbeck says give me your money, so I can find a new flock!!
Reverse.Split.August.13th.2018.It's.A.Done.Deal.
How 15,000,000 Shares turn into 6,000 overnight. It's the magical MYDX current shareholder kiss and fist, coming to an OTC exchange near you the week of 8/13/18!
What's that ROI percentage on MYDX - based on 20 months ago, that $15k that was in the MYDX bucket is now worth $1,220.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125843105
Oops...Did anyone forget there is no proof MYDX ever submitted an application for Canadian Medical device designation?
That why it was carefully worded "announced it submitted an application and is seeking medical device designation in Canada for its CannaDxTM Handheld Tester and its ECOSmartPenTM".
The "submitted and application" can be referring to a side gig at McDonald's, an apartment lease, or anything....but it is carefully worded afterwards so that you infer the "and is seeking medical.etc, etc" references the 'application'. But it was carefully worded to ensure 'application' and 'seeking medical' are not 'application seeking medical'
For those inferring an application for medical device designation was submitted, Yazbeck got you again!! Just like the meaning of life...it is just something MYDX is seeking, but not yet found.
Who's actually buying MYDX? Is it the guy that was already maxed out 20 months ago with $15k in an OTC.
If you are in for a L/T position fine...
But don't encourage others to purchase into the MYDX dumpster fire until it produces anything other than a meticulously worded PR and a corporate structure that is beautifully litigious to make Yazbeck, the only employee of MYDX (also Yazbeck), and the only employee of the largest MYDX financier YCIG (also Yazbeck) rich, while not providing anything meaningful to the world.
Nope, it's give's Yaz a clean cash register and ability to begin re-issuing just under 10 billion CS shares to cover "debts" and use for verbal partnerships...again. Same think he (as CEO) has done the past 24-36 months.
It does not matter what the CS SP is, the Preferred A Series give Yaz fully control (51% guaranteed voting power of all outstanding stock). The more CS shares to issue, the larger the net to cast for new sheep.
MYDX just rolled over and died while waiting on the courts, and did nothing. That's the example of what MYDX has done out of the courtroom in the past 24 months!
How has MYDX SP not made people happy...Like it's only down 91% from the $6k purchased back in 2016.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=125843105
The only way MYDX stock goes up is 1:2500 R/S, followed by a quick crash back down below $0.50 within 3-6 months.
This is an insult to train wrecks. :)
MYDX.has.ZERO.proven.revenue.generating.or.legally.binding.market.share.gains/moves.the.past.2.years!
Please, provide examples of proven revenue generating or legally binding market share gains/moves by MYDX over the last 24 months.
So, no concerns with zero business progress since filling the case?
Is it ok for a CEO to sit back and wait for the court to determine vs. push to gain market prominence / share while also pursuing the legal process?