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If what was allegedly done was as you describe and so egregious, then why did Yazbeck file for a dismissal and settle for $5K?
If anyone took the advice from that article, first they get what they deserve in buying based on a stupid article like that.....plus they would already be down 25% on their IIPR investment.
The scary thing about this downward trend is how the charts show no meaningful support until the low $40s, and even that is tepid at best.
50 and 200 lines on charts will cross on Monday, going to be a very bumpy ride unless something changes quickly.
The case with the demurrer was dismissed on December 18, 2018. Case number 37-2017-00026331-CU-BT-CTL should you want to see it for yourself.
The demurrer being referred to was heard by the judge and he issued a ruling on February 1, 2018. The judge overruled three of the eight causes, leaving five sustained. That's still case number 37-2017-00026331-CU-BT-CTL.
The company acknowledged in their financials the case was dismissed, but left meat on the table for the gullible by saying the "matter" has not been dismissed. Some feel the case is not dismissed, despite the court saying it was. Again, look up that case number to see for yourself.
There is an active case involving MYDX. Case number 37-2018-00055626-CU-CO-NC is where Daniel Yazbeck filed suit against former MYDX Chief Medical Officer, Jessica Peatross. The complaint in that suit doesn't specify MYDX as being harmed, only Yazbeck himself.
However, Peatross filed a counter claim (same case number), against both Yazbeck and MYDX. That case is scheduled to be heard April 17, 2020.
Going to make for a very interesting end of the month TA report for MYDX next week, seeing exactly how many freshly printed shares came out. MYDX Shareholders will once again be Salty at those numbers.
The damages to MYDX are their SEC filings.
How is one-quarter of a BILLION shares being SOLD in favor of MYDX Shareholders?
And many of them being cash trades.
Again, one-quarter of a BILLION....not million....BILLION shares sold.
Company needs to do some kind of splashy PR if the factory does open next week to stop the SP bleeding....and even that’s not a guarantee.
The 50 and 200 lines just crossed on the monthly chart, and that’s likely scared away those who trade strictly on technicals.
Next support level is low $1.30s.
Precedence....LOL, in getting .02% of what it was seeking? Seeking $29,000,000.00 and getting $5K. LMAO!
And having to settle and dismiss a case with Sanzeri who, by the court’s website, had no legal representation?
Yeah, that’s precedence....of the incompetent kind.
How much money does Yazbeck owe Jerome Dewald for his legal defense?
Maybe Yazbeck is setting precedence by actually paying his bills?
DAMN! Well then that puts this passage from the MYDX fins in the proper perspective.....
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, a 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.
On December 23, 2016, the Company designated 300,000 shares of Preferred Stock as Series B Preferred Stock (“Series B Preferred”). The Series B Preferred is convertible into shares of Common Stock at a conversion price of $0.0001. Holders of the Series B Preferred are entitled to receive dividends annually equal to $0.10 for each share of Series B Preferred held. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of Series B Preferred then outstanding shall be entitled to be paid out of the assets of the Company available for distribution to its stockholders, before any payment shall be made to the holders of Common Stock. Until such time as there are fewer than 20,000 shares of Series B Preferred outstanding, the Company needs to obtain the majority votes of the holders of Series B Preferred with regard to certain actions. Holders of Series B Preferred shares are entitled to one vote for each share held, are entitled to elect up to two members to the Board, and, absent such election, are provided certain voting and veto rights with regard to any vote by the Board. On January 6, all 300,000 shares of the Series B Preferred were issued to Mr. Yazbeck. On June 30, 2017, Mr. Yazbeck sold 100,000 shares of Series B Preferred for proceeds of $45,000. Mr. Yazbeck then lent the $45,000 to the Company.
LOL, an active court case against Defendant Yazbeck and MYDX is speculation?
Can't wait for Defendant Yazbeck to testify on the stand and under oath.
What did those critics do....quote the company's financials?
Funny how Defendant Yazbeck doesn’t mention that or how he and the company are being sued by the former MYDX Chief Medical Officer, Dr. Jessica Peatross.
Which of the four products is being talked about?
The Pen.....”coming soon” since April 2017?
AeroDX, AquaDX or OrganaDX, all “coming soon” since 2015?
Ain't it great that he can have a trust for his wife?
LOL, and zero mentions of the alleged pen. How many millions of dollars did MYDX flush down the toilet with the “pen?”
But Beckmann and Yazbeck are getting paid.
MYDX Shareholders get screwed. Again.
It’s obvious there are no court case numbers, because the case has been dismissed.
So the company discloses the settlement in the form of a payment plan from Sanzeri, and that it has been satisfied.
Still pretty funny how Yazbeck settled a $29,000,000.00 lawsuit for $5K to a dude with, according to the court website, having no legal representation.
Unless the “matter” is Yazbeck possibly not having paid Dewald’s attorney fees. Wonder if that is the “matter” that has not been dismissed yet.
Great....what’s the case number?
Café and Bar "Set To Open"
Planet PR today
So they got the local permits? The article doesn't mention when they will be open. They've said October 1 (end of Q3) and then October 15. Either going to be even later than today or it's sloppy PR work by leaving out details on something the company has been talking about for quite awhile now.
Oh, trusts.....fascinating little things really.
Look at all these trusts (bolding added):
Direct Beneficial Ownership: 10,000 shares owned by Daniel Yazbeck Indirect Beneficial Ownership: 1,000,000 shares owned by Daniel Yazbeck, as Trustee for the Adriana Tomazelli Trust; 1,000,000 shares owned by Daniel Yazbeck, as Trustee for the ARY Investment Trust; 946,667 owned by Daniel Yazbeck, as Trustee for the Dr. O. Shaddad Trust; 733,333 owned by Daniel Yazbeck, as Trustee for the Marcel Investment Trust; 927,500 shares owned by Daniel Yazbeck, as Trustee for the One World Trust; 3,525,000 shares owned by Daniel Yazbeck, as Trustee for the Yazbeck Living Trust; 1,000,000 shares owned by Daniel Yazbeck, Trustee for Zoe Enterprises Trust; and 420,000 shares owned by YCIG, Inc.
Be it personally or through YCIG, Yazbeck owns billions of MYDX shares. Hard to believe he’s going to leave over a million dollars on the table. Or his $400k+ golden parachute which he hasn’t collected yet,
Plus the $120,000 annual salary he’s now paying himself.
Seeking alpha is just a random guys take on the situation....
they also at one point said planet 13 was a bad investment when it was .90 cents soooo they are quick to change their tone when things are bad / good.
Still a good investment at these prices. ESP since all other weed plays have dropped like 80% in the last 5 months and this has gone down like 20%
Lotta withdrawals, again, from the MYDX ATM today.
MYDX owes the same amount to AQS.
The company has been “trying” to deliver products since 2015. Zero updates other than “wait ‘til next year” in the fins.
GRNH closed at .0087 on the 10th and it closed .0082 today.
That's a reversal?
And Yazbeck getting compensation, that we know of, north of $8M. Plus between him personally and his private company YCIG, owns billions in MYDX shares.
Erai Beckmann gets $7M in cash, stock and options for consulting a product that has never been released.
Hell of a deal for Beckmann and Yazbeck, no wonder Beckmann and Yazbeck are on social media showing they fly private jets and Beckmann going house hunting.
And MYDX Shareholders get screwed. Again.
Shorts are out there, but not in "droves." Over the last 21 trading days, GRWG averages nearly half of its volume (47% to be exact) in shorts. While that seems like a lot, it's not....it's below the average of the big names in the cannabis sector, hovering around 65%.
GRWG is in the sector riptide right now. Next month's Q could turn things around.
Also, the sector could have bottomed out with the news over the past couple of days from two Canadian LPs.
Sure, just like the pen was supposed to be released last week. And Slimpen was supposed to release MYDX products a couple of months ago, and July 18, 2018.
Don't forget how MYDX has been saying OrganaDX has been "coming soon" since 2015.
Wasn't the MYDX Pen supposed to be released one week ago?
Funny how the MYDX Pen was never mentioned in the Shareholders Update last week and the company's official guidance is Q1 2019, as stated twice by the company in Q2 and Q3 2019.
Why buy now? Going to be even cheaper soon enough.
Yazbeck would be happy to sell billions of "cheapies" to "scoop up."
I Believe In MYDX. My Small Order For More Shares
Not sure if MYDX bankruptcy is that close, Yazbeck still has billions of MYDX shares. He ain't going to leave that kind of money on the table.
According to Yazbeck himself, the “solution” has been coming soon since 2015.
Really?
That company-issued PR came out September 2018. And that year-old PR had ZERO mention of OrganaDX (a product “coming soon” since 2015).
$35,061 in product revenue since that PR was released over a year ago.
In other words, there is no MYDX Pen.
LOL, two and a half years is not “slightly delayed.”
OrganaDX has been “coming soon” since 2015.
What a deal for Yazbeck....
On November 10, 2018, the Company entered into a settlement agreement and general release (the “Settlement and Release Agreement”) with Mr. Yazbeck whereby Mr. Yazbeck agreed to grant the Company an extension to repay certain obligations in the aggregate amount of $410,689.99 currently due and owing to Mr. Yazbeck pursuant to his employment agreement with the Company entered into on October 15, 2014 (the “Settled Claims”). As consideration for extending the date for the Company to repay the Settled Claims to January 1, 2020, the Company agreed to extend the expiration date of warrant to purchase shares of Common Stock previously issued to an entity controlled by Mr. Yazbeck (the “YCIG Warrant”) to November 10, 2022 and to revise certain other provisions of the YCIG Warrant. As of April 23, 2019, the revised warrant had not yet been issued to Mr. Yazbeck.
In connection with his appointment as interim Chief Executive Officer and interim Chief Financial Officer, the Company agreed to pay Mr. Yazbeck a salary of $10,000 per month, or $120,000 per year, with no additional benefits at this time.
Or packing his $400K golden parachute.