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Because all plants are "organic" from a scientific stand point (i.e. they all contain carbon). Think back to "Organic Chemistry Class." Has nothing to do with using cow poop instead of nitrogen/ammonia based fertilizers on crops.
Numbers, numbers, numbers Tequila. Devil's in the details. How many shares, exactly? (hint: a trillion is a lot of shares)
Organa DX isn't intended to test for "organic vs. non-organic" growing methods. Per the website, its intended use is:
verify that the organic food that you have purchased is free of harmful pesticides
I think that'll have to happen organically. Once there's something of substance to discuss then the volume will ramp up.
Until then, the overall tone on the board is a bit of a turnoff, IMO.
Tequila, you are incorrect.
Q1 did, indeed, show lower sales...but don't forget the $178k of orders that were received in Q1 but will be filled in Q2.
Documents show debt decreasing SUBSTANTIALLY in the latest filing:
Total Debt:
12/31/2015--- 250,848
3/31/2016--- 362,502
6/30/2016--- 726,672
9/30/2016--- 533,146
12/31/2016--- 353,607
3/31/17--- 79,427
Pfft. That's a fairly random comment, considering the company just released a Q showing that Cash from Operations was positive last quarter.
Ah...ok. Well, not sure that I can add any value to that discussion.
Sold at a loss...compared to what basis? From who's point of view?
As long as the shares already existed...i.e. they were sold by one person and bought by another...that's not dilution. If the guy that sold had a higher cost basis, then he lost money. The company didn't make or lose anything in the transaction.
I think you're asking a serious question, so:
Dilution is:
- Company A has 100,000 shares of stock outstanding
- Company A need something (Cash, purchase another company, buy a piece of land)
- Another entity wants to supply that need
- Company A says "I'll issue you 10,000 NEW shares of stock in return for (whatever it is that is needed)
- Company A gets the (cash), the other entity gets the stock and sells it on the open market, resulting in 110,000 shares of stock outstanding
- Result...all existing shareholders were diluted by 10%. Of course, they also now have the (Cash, land, other company, whatever).
What is "forced dilution?"
Dilution is when the company issues new shares, which are sold off into the market. I don't see any signs of dilution.
What are you seeing that makes you think people are shorting? To me it just feels like very low volume, with 5-10 million shares per day trading hands (some days green, some days red). That's less than 1% of the outstanding shares. I think it's just retail investors that got tired of waiting and are moving on or diversifying. This is OTC-land...the investors get bored very quickly. MYDX has been trading sideways for a month or more. That's a long time on the OTC (or so it seems to me).
Keep in mind, on the last Q:
- positive Cash Flow for the first time ever
- $178k of unfilled orders that will show as sales in Q2
- signals of an upcoming deal with a large company
- debt levels at a 5-quarter low ($79k down from a high of $727k in Q2-16)
- market cap at an all time high ($19.4m, previous high was $11.5m)
- only $13k of convertible debt left at 3/31 (outside of convertible amounts that Daniel Yazbeck may choose to exercise in lieu of salary)
Malc, that process does not exist to this day. I'm not sure that it ever did, at least not in the way that you like to claim that it did. There is been no evidence of dilution for several months now, and the company was very transparent about it while it was happening. You could clearly see the dilution happening if you watched the trades board. To think that the company would be that transparent when they were hundreds of millions of shares using dilution, and now try to pull a fast one on us with a few shares here and there just doesn't make sense.
Also, the promoters that you were talking about were hired to work as investor relations over 14 months ago. They are completely irrelevant in any current mydx discussion, and have been irrelevant for many months.
Yeah, I don't think that's really how the rules work here. I heard somewhere that (i.e. I'm not 100% sure, but...) mods can have one sticky of their choice, no questions asked. If that's the rule, then that's the rule. It does get a little frustrating when the stickies are highly opinionated, and we can't even get solid company news like Ks and Qs stickied so that they are easy to refer to.
Here's a link to the last 5 quarter's financials. Any chance of stickying them? Show the numbers, and let people make their own decisions.
MYDX Financials from 10Qs and 10K - Q4-15 through Q1-17
Not millions, guys. Keep your numbers straight.
TM Said: The last 10-Q showed it sure isn't coming from sales
I just read your entire sticky, and the post that you were responding to (from Darth Yoda). You were both giving your interpretation of the situation. In fact, your very first sentence is "My interpretation of the no-action review available for issuers is different."
You clearly have very strong opinions about this...and I'm not downplaying them in any way. But at least please concede that the sticky is your interpretation, and swayed largely by your opinions.
AND AGAIN...I'm not saying there's anything wrong with that. I understand that as a moderator you are entitled to share your opinions, regardless of what they may be ("Them's the rules," according to one of the other moderators that I discussed this with). But, they are opinions.
In your sticky you say "No action, in this instance, means no penalty, and no enforcement action by the Commission - Providing that the company asks the SEC to review if the exemption is applicable BEFORE the fairness hearing, which I suspect MYDX did not."
Is it possible...that your assumption is incorrect?
(1) why would MYDX spend ITS money to buy back shares so that WE have more wealth?
(2) That argument only holds water for shareholders who have owned stock for about a 6 months or more. And, even then, those shareholders had a chance to fix the situation themselves when the stock only cost .002. Should have averaged down.
(3) this "problem" has only existed for about 6 months. Give the man a little time to work through this.
$0.03 would be a market cap of under $50m. .05 would be $80m. There are LOTS of companies that no one has ever heard of with a $80m market cap. It all depends on cash flow and new business relationships.
Didnt entice very many people. Only 3.5m shares changed hands all day.
Clegane, lets talk about cash flow. How can you say mydx wasnt cfp last quarter?
* the q showed *. (Q1-16). On mobile, cant edit the previous post.
Thank you showed 23.5 million outstanding, and the place was 13.7 cents. So market cap of 3.2 million at that point, right?
Market cap at the end of q1-17 was 19.5 million.
What's your point?
Thanks for pointing out that pps is down over the past 2 months, but pretty sure we all were aware of that.
Market cap, on the other hand (ie the value of the stock for all investors in aggregate) was at an all time high at the end if Q1. Yes, down a bit between then and now, but still higher than at any other quarter end (I analyzed 5 quarters). We shall see where it goes from here.
Pps down, but total market cap up each quarter.
*debt steadily decreasing*
Tequila,
Once again, you are wrong. Have you had an opportunity to look at the Statement of Cash Flows in the 10Q? It clearly shows that Mydx was cash flow positive.
The date on the auditor's opinion letter has no bearing on when the documents make their way back to MYDX and are available to be published.
Tequila, you're wrong. Total Debt - including asset based loans, traditional notes, and convertible notes - have declined dramatically over the past year.
They peaked in Q2-16 at $727k and were reduced to $79k at Q1-17.
If you don't believe me, analyze the Ks and Qs and let's talk.
Make sure that you read up on Derivative Liability, too, if you're going to start the conversation. They come into play but - as I'm sure you know - they are certainly not debt.
10Q, things to remember:
3/31 customer deposits (178k) are unfilled orders that should be filled in Q2, resulting in the full sale being recognized.
If these were 50% deposits (no way to know) then the resulting sales would be $356k. That number is based solely on Q1 orders, and doesn’t include any new, Q2 orders. The highest quarterly sales ever reported for MYDX were in Q2-16, $279k.
No way to know. Any answer other than that would be either insider info or speculation.
Just a FYI...I'm still long, but moving on. Too much time and energy spent arguing. I'm monitoring other MYDX venues, and will continue to pop my head in here occasionally. If I see something of value, or do any DD that I think would be helpful, I'll post it. But...not continuing the cycle of post/argue/argue/argue.
Hope to chat with you all soon.
JB
Re: Q2 Revenues: The ~$170k of "Customer Deposits" that are on the balance sheet will come into play in Q2. Those are orders received in Q1 that couldn't be filled by 3/31. If they are filled by 6/30, then that 170k will go directly to top-line sales on the next 10Q. That, combined with any new Q2 sales, would result in (most likely) record total sales reported for Q2.
Be careful when thinking about the derivative liability that you are seeing. Thats not debt, but expenses related to the toxic debt in the past. Essentially, expenses that we (shareholders) paid for in the form of lower shareholder value as the dilution was happening. Painful at the time, and will eventually show up as a loss, but not something that will have to be paid for with cash. I've reached out to Yaz for more details, will keep everyone informed. Derivatives are complex in nature...will do my best to sort through them and report back.
So you sold your shares between 855pm and 935pm est?
So you just sold your shares a few minutes ago?
What, specifically, makes you say that? Its been a long day. Lots of info floating around.
Their PR states that they were CFP. Their Statement of Cash Flows shows that they were CFP. You found a piece of boilerplate that hadn't been updated that says otherwise.
I'm going with two out of three....so they were CFP for Q1-17.
Yeah, who knows. Here's what I'm looking at. Formatting is horrific, but the bottom line shows Operating Cash Flow of +29.5k.
Cash flows from operating activities:
Net loss $ (5,606,849 ) $ (544,510 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization 21,047 21,346
Common stock issued in exchange for services 76,300 65,550
Change in fair value of derivative liability 4,005,242 -
Derivative expense 731,347 -
Gain on settlement of accrued payroll (44,005 ) -
Gain on settlement of vendor liabilities (82,554 ) -
Stock based compensation 245,225 148,316
Interest expense related to amortization of debt issuance costs and debt discount 251,670 11,654
Changes in assets and liabilities:
Accounts receivable - (14,421 )
Inventory 8,221 78,387
Prepaid expenses and other assets 1,517 42,219
Accounts payable and accrued liabilities 261,017 (16,728 )
Long term obligations 161,552 (725 )
Current portion leases payable (197 ) -
Net cash used in operating activities 29,533 (208,912 )
Not sure what you want me to say. According to the 10Q they were. You can read it as well as I can.
One of these days you and I need to sit down and have a beer. I'll bet we wouldn't butt heads nearly as much in that scenario.
I don't know...it may already be paid. These statements were as of 7 weeks ago, and they showed customer prepayments of $170k on the books. Should be having a pretty good Q2 based on that.