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Correction.$79,000 worth of total debt. 13000 of that was convertible.
What links do you have to back this up? Those numbers certainly were not represented on the Q1 10 Q. There was $78,000 worth of convertible debt, and that had been there since the prior quarter. There was nothing that indicated the level of dilution that you're talking about.
Definitely being heavily shorted.
- Normal shares available for shorting hovers around 10.0 mil
- Yesterday: 1.6 mil
- Today: 1.0 mil
Shares?
So much for that idea. As soon as I said that a wall went up. There are eyes and ears everywhere.
Probably only $2,500 of purchases to get it to green for the day. If anyone wanted to be a 3:59 hero today's the day.
Not sure what you mean. I haven't missed them. They are clearly on the Q.
No - that's not correct. The 78k IS the asset based loans and convertible notes. Look at the Q...it's right there.
This has nothing to do with accounting trickery. With all due respect, you're just missing the nuances of the derivative liability.
If I may be so bold...my last post may be worth stickying. The Derivative Liability question is causing lots of problems and misconceptions.
Ok, let's work through this...because MYDX absolutely does NOT have $6.6m in debt. And...I will be the FIRST one to say that it is tricky, hard to understand, and is causing a lot of angst among shareholder (current, past and prospective).
The overwhelming chunk of what you're seeing is "derivative liability." DL is the cost of issuing the derivative debt from Q3-16 through Q1-17. These costs include fees, interest, legal, points...all the normal stuff. But the biggest (BY FAR) component is the difference in stock price between market value, and the underlying liability that was settled with the stock. So if stock price was .01, and we issued a million shares (1m x .01 = $10,000) to settle $6,000 in debt, then we account for the extra $4,000 by calling it DL. That DL piles up on the balance sheet until the underlying liabilities are FULLY SETTLED (that part is important).
Once the DL is fully settled, it is moved from DL to DL Expense on the P&L. That's why in Q4-16 it looked like MYDX lost 16m for the year. It wasn't cash expenditures...it was the value of the diluted stock that finally settled and fell to the bottom line.
That's also why the company lost a ton of money but was still cash flow positive in Q1. They were paper losses for the company (but real losses for the shareholders...coming up in a paragraph or two). The company showed a loss as it was cleaning up the aftermath, but the cost was stock not cash. Therefore there was no cash outflow, therefore Q1-17 was Cash Flow Positive.
The bad news: It falls to the bottom line, and shows that the company lost money.
The good news: DL is IN NO WAY a liability that will need to be paid with cash. Think of it as already having been paid for, in the form of diluted share prices over the life of the underlying liabilities. So anyone that was a shareholder in that period, and who saw all of the dilution happening, was paying for the DL that you're seeing on the balance sheet.
If you read the Q closely you'll see that payments in the china situation are being disputed. Therefore they haven't settled. Therefore the DL associated with that deal is still on the balance sheet. My guess (only a guess) is that a lot of the remaining DL relates to the China mess.
Let me know if I can help clarify further.
Tequila, you are incorrect. The 10Q showed 78k in debt, not 6.6m as you indicated.
I'm not one to predict, but I agree that it should be much higher. With the products, data collection, and vision that the company has it should be higher. Slow to react to the news.
Explain what you mean by "got at a discount."
Hmmm. Interesting that you'd think that [1.2m of current, everyday trade payables] is the same thing as [6.6m of debt]. Not even close.
And, uts fairly consistent with previous filings, so doesn't seem to be a problematic number. Im out. Catch you later.
Ok. Thats accounts payable. That isn't debt.
Well....its not debt.
Im going by the 10q. Tequila is talking about debt. Its 79k. Take a look.
As of the end of 1st quarter, the 10-q showed $79,000 worth of debt.
You are incorrect tequila.
Yesterdays close: .0069
Today's low: .0070
Hasn't touched red all day, even with someone dropping 4.75m shares on our heads 10 minutes ago.
You're incorrect Tequila. Ks and Qs show that debt is, indeed, declining steadily. If you'll take the time to look at the last 6 Ks/Qs you'll see the trend.
Highwater mark of $727k at Q2-16.
Q1-17 shows $79k.
How the heck would I know?
My gut feeling is that, just like with BlackSwan, there are details that are not clear to all of us. If I look at the balance sheets that are available in the Ks and Qs it's hard to envision anyone writing a check (or checks) for $1.7m. I'll bet there are details that I'm not privileged to know.
Yes...Jeff Lau is the CEO of BlackSwan. Here are two quotes from yesterday's PR:
"We see this as an opportunity to develop a quality product and reduce the time to market for the Delivery Pen and Supplement markets with targeted formulas we can brand and sell," said BlackSwan CEO, Jeff Lau. "Moreover, we think there's significant opportunity in this space to differentiate, capture market share and truly offer products that might help alleviate specific ailments or side effects as defined by cannabis users and we're excited to be working with the foremost authority on the subject in MyDx."
"This is a topic that many people aren't talking about because it's a bit taboo, there's big money involved and there's immense pressure to perform when injured," said BlackSwan CEO, Jeff Lau. "Fortunately, the chemicals in cannabis have shown tremendous promise in its ability to alleviate pain and inflammation in much of the same way as opioids, but without the propensity for addiction, and with the potential for additional health benefits, which are still undergoing studies."
It has not reflection on MYDX. Apparently it matters to Black Swan.
.0062 or .0069. What's the difference, right?
What would that matter? It's not MYDX's or Daniel Yazbeck's job to audit the corporate status of every new customer that they bring on-board. Perhaps you'd have a right to be critical of Black Swan, but this would, in no way, reflect negatively on MYDX.
NEWS: Black Swan corporate registration resolved.
Yesterday I reached out to MYDX. I explained that the Nevada corporate registration website showed Black Swan's corporate registration as being revoked. In my experience this is most often caused by administrative errors (specifically, overlooking payment of the minimal annual registration fee).
MYDX brought this to the attention of Black Swan. The administrative error has now been resolved.
Black Swan, LLC, registered in Nevada, does business in Canada as Black Swan Tech. The website link in the PR refers to Black Swan, LLC, doing business as Black Swan Tech in Canada.
Nevada Secretary of State Website
Price per share alone is meaningless. The real question relates to Market Cap.
12/31/15: 11.5m
12/31/16: 1.7m
Current : 11.1m (based on shares outstanding as of 3/31/17)
Is..it..that..much..of..a..leap..to think..that..Black..Swan..LLC could..be..doing..business..as..Black..Swan..Tech?
State of incorporation has no bearing on where business is transacted...if a company wanted to take advantage of Canadian social reform, they'd have no problem in opening a Canadian location (which has no bearing on if they even have any US employees).
I don't have an answer as to why the corporate status shows "revoked," but I've run businesses long enough to know that there are legitimate reasons (as simple as "you didn't pay your annual fees on time").
By the way...I'm not signing on for an all-afternoon argument about this. Take my posts and do with them what you will. All, obviously, IMO.
1 - The Company is launching a massive marketing campaign in Canada
2 - Black Swan in Canada is in the exact market for products and data supplied by MYDX
3 - Progress towards overall MJ legalization appears much closer in Canada than US
IMO, the Black Swan that is referred to in the 8K is the Canadian firm.
Nice new landing page:
CannaDX Landing Page
I don't have those answers. All in due time.
As you all know:
1 - The Company is launching a massive marketing campaign in Canada
2 - Black Swan in Canada is in the exact market for products and data supplied by MYDX
3 - Progress towards overall MJ legalization appears much closer in Canada than US
IMO, the Black Swan that is referred to in the 8K is the Canadian firm. I firmly believe this to be true, and I'm waiting for confirmation.
Total games, for certain. I bought 700k shares at 9:54:01. Level2 lists it as a sell, not a buy.
Should have bought another 10,100 and cleared it to $4.90!!
Somebody knock out those .0079s and get this thing up to .008.
FWIW...I added another million after the 8k.
11m buys vs 2m sells today, and the price hasn't moved. Frustrating.