Yes, I did say hopefully. Thanks for the link, but please quote the whole thing that Yazbeck wrote. Notice that the dilutions were mostly for 2016. With only a possibility for 2017. This has a reasonable amount of risk, as most new products do. But the rewards for a long term investment are great. The main 2 question you should consider are: Can their products make a profit if it is improved to 90 percent customer satisfaction and can they meet those standards of 90 percent satisfaction or better. If so anyone investing now will make some great money, if not then well expect the loss.
Yazbecks full quote:
"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."
AI
