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Looking pretty thin to .0024+!!!
But there are actual products, which puts them leaps and bounds ahead of so many of the other "companies" in this sector. There are bogus companies with no products and revenues trading at .05+ and it's only a matter of time before we're back to that and much higher. Look at MCI*...from under a cent to a high of .50 over the last few months after turning profitable, which MYDX is not far from. I hope everyone is taking advantage of these way underpriced shares to average down.
Why would Yazbeck take shares instead of cash for money owed if he knew that more dilution, or a reverse split, or anything else that would decrease share pice was coming up? I think you and I and anyone else can agree that the only way you would take shares instead of cash is if you knew for certain that share price was going to rise and make you more money.
Great points. And why would Yazbeck take shares instead of cash for money owed if a reverse split was coming? And that share price was not going to go up?
I live 30mins from MYDX and have already been there, what do you need checked out?
90mil? I thought he was only at around 40mil. He had around 10mil before, and I thought he only took 30mil for the pay he hadn't received...did he buy another 50mil for himself or did I miss something?
CEO was owed a lot of money in back pay and bonuses, and he decided to get paid in shares instead of cash. Only reason he'd do that is if he knows big news is coming and share price is going up $$$$$
Earnings less than a month away. Any combination of increased revenue, decreased expenses, end of conversions and consolidation of debt should do wonders for us. Yazbeck wouldn't have taken payment in shares instead of cash unless he knows some good news is coming and share price is going up. Continuing to load up at these prices, it's only going up from here.
Yes, the majority of listings I've seen are being sold by hydroponics shops. Which means there are probably many, many more as well as dispensaries that are also retailers for the CannaDx.
They are already on ebay as well, have been for a few months now at least
I sent an email to C. Pugatch asking about BCI since he's the listed contact for them, dobut I'll hear back before Monday, if I do at all, but if I get any info I'll post it. Might call him Monday if I don't hear back from him.
I haven't been since since stopping by their office a few weeks back. I did find one mention of "BCI Advisors, LLC, a Delaware limited liability company" and another stating an address in Florida for communication "If to BCI, to:
C. Pugatch 101 NE 3rd Avenue
Suite 1800 Fort Lauderdale, Fl 33301"
A few people have mentioned the 7.5% stock purchase that expires Jan 15th, but there was also another one giving YCIG the option to buy 15% of outstanding shares that expires January 3 2019. I also saw mention of shares being retired to the treasury. With Yaz accepting shares of stock instead of cash for the pay he never got, he obviously knows share price is going to go up. Why agree to a deal that you would lose money on? I feel the 22.5% of stock will be purchased and retired, cutting shares by around 100mil. That could raise PPS enough that a RS would not be necessary.
Earnings will be filed Feb 15th, but we could see a PR stating expected earnings as early as next week. A R/S will not kill the company, and if it is done for the purpose of uplisting to Nasdaq it would help tremendously. MYDX is one of the few marijuana stocks that actually has a chance of getting out of OTC since they don't actually touch or sell any parts of the plant.
Ameritrade won't let me buy more shares...anyone else having the same problem?
The good news from today should definitely roll into tomorrow. If they're smart enough to have a PR ready to drop Monday with expected Annual/Q4 earnings, that should amplify the run big time. I think we could see a steady uptick from now into mid Feb when earnings are filed, and I'm sure along with those we'll get 2017 revenue guidance, some big updates on uplisting, the China deal, and some other stuff they've got in the works.
Perfect setup for news on expexted Q4/yearly revenues next Monday
That's what I was referring to, shares instead of money for the loan repayment. Glad I loaded up more shares at .0018 this week.
Definitely huge news that Yaz took shares instead of dollars. I think that at least slightly reduces the chances of a reverse split as well. Why would he want shares if he knew they were just going to be split? However, if the reverse split was to uplist to nasdaq that would be HUGE. And they actually have a chance since they don't deal with the plant directly.
I think we'll get a PR next week with expected revenues for Q4 and for the year. Some good news should do wonders.
LOL. Radiation was not the problem, it was toxic heavy metals.
Shareholder letter:
Dear Shareholder,
When we first started this company nearly three years ago, our primary goal was to bring quality control at the point of care to the more than 200 million cannabis consumers worldwide who could not consistently find a strain that works for them.
We then learned about pesticides in food and heavy metals in water, and the vision that is MyDx® was born to empower consumers everywhere to Trust & Verify® what they put into their minds & bodies through our four primary sensor applications:
OrganaDx - test the safety of the food you eat
AquaDx - test the safety of the water you drink
AeroDx - test the safety of the air your breath
CannaDx - find a safe cannabis strain that works for you
Our goal remains to solve areas of critical national need, including the promotion of public safety and quality control in an industry that is coming out of prohibition. We look to leverage our chemical analysis products and crowdsourced data to hold all corporations accountable for the safety of the products they offer consumers every day. No one should ever have to inhale pesticides. People need to be aware of just how harmful that can be, and we plan to increase that awareness in the years to come.
It is important to note that we are just at the beginning of the Diagnostic ("Dx") movement to measure everything people eat drink and inhale. The good news is similar to evolution of smartphone technology over the last decade, chemical sensing technology is also quickly evolving to help us achieve the true "Tricoder" everyone wants. There will be new versions of MyDx, with more advanced features, and we look forward to solidifying our leadership position in making testing an essential part of living a healthy lifestyle, as well as a social one.
In our 2015 year end letter to shareholders, it highlighted the launch of the MyDx Analyzer with the CannaDx sensor as well as becoming a public company as the primary milestones achieved that year, and set a goal to focus on 2 key pillars of success in 2016: product sales & market liquidity. While we have faced many challenges, we believe we have achieved our 2016 goals.
2016 Key Milestones Achieved
Product & Market
MyDx® App reached the #1 Ranking in the medical category in the Apple iOS app store, #1 for the keyword Cannabis, and a high position of #54 overall for all FREE Apps.
CannaDx™, as standalone business, has generated nearly $1 million in revenue since commercialization, mainly from e-commerce sales, and is helping thousands of consumers Trust & Verify their cannabis every day.
CannaDx™ proprietary Database more than doubled in size, to 40,000+ crowdsourced ailments and feelings associated with unique chemical profiles. Backed by pharmacological insights shared in our MyDx White Paper, we are positioned to play an important role in understanding the science of cannabis and its future role in the biopharmaceutical industry.
AquaDx™ single use sensors were launched to test for harmful chemicals in water, helping Florida residents in critical areas of need Trust & Verify the safety of their drinking water, and were featured by CNN and ABC News.
OrganaDx™ single use sensors were launched to test for Pesticides & Heavy Metals in cannabis and food, and were featured by NBC News.
Corporate & Finance
Reduced operating cash burn by 83% year over year.
Satisfied over $1.5M in convertible debt used to finance the company's critical obligations in 2015 and 2016, including supporting R&D and daily operations, paying off and renegotiating minimum royalty obligations with our sensor developer from $100,000 per year to $15,000 per year, paying off debt that was depleting our daily cashflow, and investing in expansion of our products overseas using a higher margin business model. This same convertible debt used to finance our operations has resulted in heavy dilution and a sharp decline in share price. The company expects to continue to experience dilution in the near future. We recommend that investors seek the advice of a FINRA registered representative before making an investment in MyDx stock during these volatile times.
Company on track to be cashflow positive and profitable in 2017
MYDX Average trading volume (a.k.a. Market Liquidity) increased from a low of $2,000/day to a high of nearly $1 million/day.
Company has filed a Pre-14C as the board believes that the company's outstanding shares may need to be reduced through a reverse split with the goal of:
Facilitating potential higher levels of institutional stock ownership where investment policies generally prohibit investment in lower priced securities
Creating a capital structure that better reflects a potentially profitable company
Better matching the number of shares outstanding with the size of the company in terms of market capitalization, shareholder equity, operations and potential earnings.
Better enable the company to raise funds
The board shall maintain the right to elect not to proceed with the reverse split if it determines that this proposal is no longer in the best interest of the company.
Looking forward to 2017:
Our main objective at this time is to complete the restructuring of MyDx to clean up the balance sheet, recruit and incentivize key executives, managers and advisors, expand the science and technology team, and re-position the company to attract long term growth capital that is required to:
Increase market share in areas of critical national need with the CannaDx, OrganaDx, and AquaDx applications globally through product enhancements, industry partnerships, and global sales and marketing efforts.
Launch MyDx 2 and the AeroDx application.
Develop and integrate MyDx products into established Smart Home applications, a.k.a. Internet of Things (IoT).
Invest in MyDx next generation technology to create the most practical, reliable and affordable chemical analysis platform in the world for the everyday consumer and commercial operator.
I am excited about the progress and the future of the company, and on a more personal note, I am grateful to our committed shareholder base for their patience and support. As a shareholder myself, I feel your pain every time I see that stock price fluctuate in the wrong direction, and share your joy when it goes green. That said, nothing worth creating comes easy, and we should all be very proud of the foundations and accomplishments we have helped achieve to date.
On behalf of the MyDx team, we leave you with these images from our most recent December shipments of the AquaDx Digital Analyzer upgrade kits to those customers who pre-ordered them.
Happy Holidays to you and your family. Here's to a great 2017 together!
All My Best,
Daniel R. Yazbeck
Chairman & CEO
MyDx, Inc.
Agreed. I currently work for a small company and have worked for them in the past and all became profitable within a few years, even with continued R&D for new and upgraded products...and my current company manufactures sensors used to test for contamination, fairly similar to what MYDX does except our customers are mainly the space/aerospace industry.
There aren't really enough shares for an RS in my opinion. Although I could see an RS at some point in the future to where it needs to be to uplisting to Nasdaq if it doesn't get there on its own.
The CEO is the largest shareholder, so yes, it is in his best interest to raise share price. He also hasn't sold any shares since 2015. If this was a sinking ship he would be dumping shares to take profits while he can. It's only a matter of time before this turns around. MCOA ran from .004 to .20 and they didn't even have any product or any revenue...once the conversions are done this will run back up in no time.
Uh, no. Never been in trips and never will.
Mydx2.com was registered in Oct. Coming soon!
https://www.thedailywhois.com/2016-10-17/mydx2.com
Gonna close at .006+ today?
Not to mention other products that could easily be made using the same technology. Could MyDx be developing a marijuana breathalyzer...? Imagine if every cop in California had an MYDX breathalyzer in their patrol car come 2018. I wonder what that will do for revenues $$$
I wonder how long it will be before MyDx starts signing deals with dispensaries to resell the MyDx/CannaDx? There are only hundreds of them in San Diego County to choose from...maybe they're in talks with some now?
I agree completely, the dilution has torn this apart. I don't really see this going much if any lower though. Once the dilution is done and some good news comes out this should climb back up very quickly. IMO these are great prices to be buying at. I think there's a very good chance share price will start climbing back up over the next few weeks as we get close to the end of the quarter and year, possibly even towards the end of this week as people await MyDx2 release news. An update this month or early Jan on expected revenue for Q4 should do wonders, and imagine along with Q4 numbers we'll get an update on what other deals are in the works.
Because there won't be any more need for more lending. Cash flow positive this quarter, profitable within the next few quarters. Expenses decreasing as products are completed and less need for R&D costs, sales will continue to increase and profits will roll in as they gain traction.
It's not vacant, they're still there
They didn't close down, the owner is trying to lease it out from under them. When I contacted the agency the response I got was:
"Please call me to discuss. The current tenant is on a month-to-month lease and if you are interested, we need to be discreet about getting them a notice to vacate"
What exactly are you referring to?
No, it is not a vacant building
They don't need to buy fake likes. 40k likes is only a tiny percentage of marijuana smokers that would like the CannaDx and I'm sure they'll get many more as more users discover the products
Hmm. Interesting...considering those are several things I brought up with Mr. Yazbeck, along with some other marketing and sales ideas.
Where are you finding this?
Correct, sales continue to rise. Between increased revenue and decreased costs, they will become profitable.
Because when shares are given out to pay off debt, the lenders get them at 50% of the 5 or 7 day average share price. Someone correct me if I'm wrong