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Here is why MYDX sued Bright Light Marketing:
On March 10, 2017, the Company and Bright Light Marketing, Inc. (“BLM”) entered into a Settlement Agreement (the “BLM Settlement”). Pursuant to the BLM Settlement, BLM was to pay the Company a total of $217,500 over the twelve (12) months following March 13, 2017. BLM’s first payment of $100,000 was due within thirty (30) business days of the signing of the BLM Settlement. BLM was then to pay the Company $10,000 per month on the first day of the next eleven (11) months and the final payment of $7,500 was due on March 1, 2018.
As of January 22, 2018, BLM had not made any payments to the Company pursuant to the BLM Settlement. On that date, the Company filed a complaint in Superior Court of California against BLM to enforce the BLM Settlement amount of $217,500 and to collect interest at the default rate of $47.67 per day. In addition, the Company is seeking court costs and attorney’s fees. BLM answered the complaint on March 12, 2018. The initial case management conference is in May.
Uh, It is really news. Read the complete part in the 10-k.
LOL, I'm sure Defendant Sanzeri is not laughing about his SETTLEMENT in the MYDX lawsuit. Looks like the birds are beginning to SING. Could it be the whole 29 MILLION DOLLARS?
Regarding Defendant Sanzeri, a tentative settlement had been reached, but not signed, with Sanzeri. The parties have agreed to attempt to resolve this litigation through a mediation proceeding and have signed a stipulation re: mediation and related extensions on March 13, 2018 to that effect.
Page 2 10-K So MYDX has gone from 50,000 datapoints to nearly 10 Million.
In 2017, MyDx continued to expand the CannaDx community and capitalize on its consumer-generated database, which the Company believes is one of the largest pre-clinical data repositories of its kind in the world, which contains nearly 10 million data points correlating consumer feedback to cannabis chemical profiles.
page F-37 10-k
13.
Subsequent Events
On January 26, 2018 the company entered into a joint venture with Ganja Gold to form “NewCo”. With the formation of NewCo, the intent is for the Parties to manufacture and distribute a new premium line of physiological based Vape formulations. under Ganja Gold Vape Brand (“GGV”). The GGV Brand will be powered by MYDX data and formulations utilizing the Eco Smart Pen Device under an exclusive license of MYDX Power Formulations. MyDx will have the option to acquire 50% of NewCo.
page 31 10-k
On April 9, 2018, the Company verbally agreed to enter into a License and Services Agreement with Humanity Holdings Inc. and Humanity Products, Inc. (collectively “Humanity Holdings”). Humanity Holdings currently operates a manufacturing and distribution facility, licensed by the state of California, through which it engages in the sale and distribution of various cannabis related products. The Company granted Humanity Holdings a non-exclusive license to manufacture, sell, and distribute products within California using proprietary product formulations owned or licensed by the Company. The Company agreed to issue Humanity Holdings shares of Common Stock worth $25,000 on the 45th day following the effective date of the agreement. This is in exchange for Humanity Holdings not contracting with a competitor of the Company who provides formulation services, smart vape device hardware and related software applications to its network, product branding or access to reporting from its data set that ties a user’s experience to a chemical profile of the product they are consuming. Humanity Holdings will pay 20% of net sales to the Company as a support services fee and 30% of net sales to the Company as a royalty.
page 31 10-k
Appointment of Dr. Heiner Dreismann to Business Advisory Board
On April 1, 2018, the Company verbally agreed to enter into an agreement to appoint Dr. Heiner Dreismann to its business advisory board to assist the Company’s management with evaluating potential merger and acquisition opportunities, developing a plan to secure a medical device designation from Health Canada for CannaDx, and other advice related to the Company’s business.
page 24 10-k
Regarding Defendant Sanzeri, a tentative settlement had been reached, but not signed, with Sanzeri. The parties have agreed to attempt to resolve this litigation through a mediation proceeding and have signed a stipulation re: mediation and related extensions on March 13, 2018 to that effect.
10-k is out on mydx home page under sec filings.
MYDX's website visits are "UNIQUE" visitor id's, although it would be great to know that MYDX has 27,000 investors.
Mydxlife.com has received an estimated 27,000 visits over the last 30 days(Todays number). Alexa Rank #795654. First time that I have ever seen mydx in the 27,000 range. Numbers have been increasing daily.
OH,OH. Ask is at .0042 - we'll see what happens.
MYDX investors spent over $210,000.00 on stock purchases in the last 3 days and I believe they think you are correct. And again the website traffic is up: Mydxlife.com has received an estimated 26,600 visits over the last 30 days. Alexa Rank #801699. I believe we will have a great week.
That will be great for mydx once they pass a bill for legalization - can't wait.
I agree with you, there is a reason website site traffic is up almost 75 percent from 6 or 7 months ago of 6,000 hits a month - currently 26,200 visits monthly and either holding or gaining ground daily.
I know what was submitted as an official PR from MYDX back in Dec 2017, which is almost 5 months ago and NO REVERSE SPLIT has occurred, which is the following:
MyDx Cancels Reverse Stock Split
December 20, 2017
Allows the Free Market to Take Its Course to Determine the Company Valuation
SAN DIEGO, Dec. 20, 2017 /PRNewswire/ -- MyDx, Inc. (OTC: MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for Cannabis professionals and retail consumers to correlate the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced that based upon recent and anticipated developments for the Company, the board has decided to cancel its plans for the reverse stock split approved earlier this year.
"With the influx of interest for our MyDx360 services, including ancillary products such as the EcoSmartPenTM, as well as the progress we have made in the analysis of our 55K+ data points and the development of MyDx crowdsourced formulations, we are very optimistic about where the Company is headed into 2018. This, combined with the fact that recreational Cannabis will be legal in California in less than two weeks, gives us confidence that our valuation is better achieved without having to complete a reverse stock split at this time and simply allowing the free market to determine our value," said Daniel Yazbeck, CEO of MyDx.
The initial reason for ratifying and approving the reverse split was that the board believed that the Company's outstanding shares may have needed to be reduced with the primary goal of better enabling the Company to raise funds to finance growth as well as facilitating higher levels of institutional stock ownership where investment policies generally prohibit investments in lower-priced securities.
That said, the executive team has complete confidence in its current business strategy to attract a broader range of new shareholders at this price level. While the Company remains optimistic, there can be no assurance that this will be the case.
To learn more about MyDx, please visit www.mydxlife.com
To learn more about MyDx360™, please visit www.mydxlife.com/mydx360.
To learn more about the EcoSmartPen™, please visit www.mydxlife.com/ecosmartpen.
Based on my MYDX message board chart patterns, looks like the sp is heading UP tomorrow, as the number of posts from specific users is above average. So far, I'm 1000 out of 1000 on these which I normally don't post.
I would think that the investors that bought almost $170,000.00 worth of MYDX stock today and yesterday are betting there investment goes up also.
No, I mean the one where MYDX is the Plaintiff and from what I have heard the Defendants are singing like BIRDIES.
I agree, I'm seeing $ $ $ coming up for me on my MYDX stock holdings.
OH,OH, The numbers keep going up! MYDXLIFE.com up 400 more visits from 2 days ago - NOW 26,200(todays numbers). Mydxlife.com has received an estimated 26,200 visits over the last 30 days.
This number is different from visitor sessions which includes repeat visits from the same person.
Alexa Rank 807971
I can just imagine how many more Eco Smart Pens have been pre-ordered.
Looks like a lawsuit update from the Superior Court Of California, should be coming any day now.
You are correct, oops, but content is still valid and the April 12th part is todays date.
Article from today about MYDX. I posted the complete article.
By
Chris Sandburg
Posted on April 12, 2017
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When we last looked at MyDx Inc (OTCMKTS:MYDX), mid March, the company was trading at $0.004 a share. At last close, MyDx shares went for $0.12 – a 200% run. We’ve had a couple of requests from our readers to update our bias on the stock, taking a number of recent developments in to account.
With this in mind, here’s where things stand now.
Before we get going, a quick introduction to MyDx. The company is a technology/healthcare company that has developed a device that allows users to test organic material. There are a few applications of this technology, including water purity testing, air quality, food testing, etc., but the one that’s driving value right now is use as a cannabis testing device. Basically, a user puts a small amount of their cannabis into the device, and it reads back to the user on a number of metrics associated with quality, contaminants, etc. The key to this device bringing in forward revenues for the company, however, isn’t really in device sales. Although sales are what are important right now from a headline perspective, the real value in this device (called CannaDx) is in its linking with a smartphone application that records the data readout from the testing process, and combines this with user inputted data relating to the effect of the cannabis being consumed on feelings, emotion, pain, depression, all the sort of things people might be smoking cannabis to induce and/or relieve themselves from.
So this brings us to one of the recent and important updates.
This data is coming together to form a database that’s now (as per this press release) 40,000 points strong. Last time we got some numbers on the base it was 30,000 points strong, so it’s growing fast – MyDx reports that it’s growing at a rate of 100% year over year.
So why is this so important?
Company CEO Yazbeck said this:
“This reminds me of my days at Pfizer where we were looking for new ways to create Active Pharmaceutical Ingredients in a more organic fashion.”
What he means by this is that when he was at Pfizer Inc. (NYSE:PFE) (he was a scientist at the pharma giant for a few years in the early to mid 2000’s) the company was trying to figure out a way to manufacture the APIs for its development drugs that was more efficient than previously. The way Pfizer achieved this was through a database that logged various API interactions, and the combinations of these API’s interactions with certain indications, which could be used to streamline the manufacture of preclinical assets to carry into the lab. That’s exactly what MyDx is working to achieve in cannabis. Yazbeck calls them Green APIs or gAPIs, and the MyDx database is expanding to become the equivalent of a big pharme API database, but for the cannabis pharmaceutical space.
Again, what’s the importance of this?
Well, it’s not just about selling the data. The real money is in the company converting those that use its database into contract manufacturing clients, and MyDx working as a CMO to provide these clients with the APIs that they need to conduct early stage clinical trials.
It’s farther down the line, of course, but it’s a smart and achievable business model for a company like this – the only company in the world right now with a database like this, of this size.
Adding to the long term value thesis is the Mid-March announcement that the company successfully fought off an attempt by some convertible debt lenders to basically suck any value out of shareholders’ exposures through conversion induced dilution. The resolution sees just $35,000 left in promissories, which can’t be converted to equity and is eligible for payoff at the end of next month. In other words, a serious downside pressure (and risk factor) has just been removed, ahead of next month’s first quarter earnings (slated for May 15), at which point we expect an influx of speculative volume.
Nothing’s guaranteed of course. This is still a young company, and it’s currently trading in and around the wrong end of a correction from highs. Some will say it’s set to fall deeper before turning. We think current levels are supportable, however, and as MyDx’s potential spreads to a wider audience, it’s market support will grow, and its capitalization will revalue to accommodate this growth.
We will be updating our subscribers as soon as we know more. For the latest updates on MYDX, sign up below!
Disclosure: We have no position in MYDX and have not been compensated for this article.
I believe you are correct also, fin's should be out by Monday.
Someone was willing to invest almost $50,000 to purchase those 15.11 million shares at .0033 today. Yes, someone sold them but someone also bought them.
I'm ready right now, I wait for my 7 million at .0030, IF someone really has the shares and wants to sell now.
I'm waiting for the sell-off, haven't seen it yet, I'm ready to Buy, Buy, Buy.
I'll take 7 million shares at .0030 if someone wants to sell them.
Today's number up 300 from Friday's number: Mydxlife.com has received an estimated 25,800 visits over the last 30 days. (was 25,500)
This number is different from visitor sessions which includes repeat visits from the same person.
Alexa Rank 814,907 up today also,
was Friday: 820,048
I'm liking what I see here with web site traffic, Thursday's number was 24,400 and todays being 25,500. ALL IN TIME!
And when you place an order, which I just did, this is the shipping information I received: 'Please note that due to high demand, it will take 7 to 14 business days to ship your order.' Also the pen is OFF sale and back to Original price of $89.99
Mydxlife.com has received an estimated 24,400 visits over the last 30 days.
This number is different from visitor sessions which includes repeat visits from the same person.
Alexa Rank
837818
This is an increase of 300 visits from yesterday's number.
Mydxlife.com has received an estimated 24,100 visits over the last 30 days.
This number is different from visitor sessions which includes repeat visits from the same person.
Alexa Rank
844026
Yesterday's number was 22,900 visits, up 1,200 visits from yesterday - could it be something is BREWING. This is the highest number I have ever seen since I started watching almost 8 months ago.
On a positive note, this is the highest number that I have seen for MYDX. This is todays number:
Mydxlife.com has received an estimated 22,900 visits over the last 30 days.
It's all good in my book, I believe we are movin on up.
FYI: 04/02/18
NT 10-K
Notice under Rule 12b25 of inability to timely file all or part of a Form 10-K, 10-KSB, or 10-KT
https://ir.mydxlife.com/all-sec-filings#document-3334-0001213900-18-003855
I will take option B) Giant news that will CATAPULT MyDx to 10 cents PPS?
I am ready for an exciting week to come. I am liking everything more and more everyday, even more reasons to hold long and strong!