AI
Wednesday, May 23, 2018 9:31:01 AM
MYDX Recent Developments and Press Releases:
MyDx Reports Positive Net Income as it Positions Itself for Growth and Investment
SAN DIEGO, CA, May 22, 2018 (GLOBE NEWSWIRE) -- MyDx, Inc.(OTC: MYDX), a leader in science based cannabis health technologies and creator of the industry’s first handheld analyzer to help consumers and professionals understand how cannabis makes cannabis users feel,today announces its 2018 first quarter earnings results and management analysis.
MyDx reported positive earnings of $880k in the first quarter of 2018 as it executes its business model. The $880k compares favorably to the same quarter last year that saw a loss of -$5.1 million.
Operations continue to be streamlined to maximize operational efficiency and minimize waste. Gross profits remained relatively even from the same quarter in the previous year as gross margins increased by 6 percentage points. Total Operating costs decreased by 32% from the same quarter in the previous year due to the more efficient scaling and allocation of marketing and other general operating expenses. R&D expenses rose due to the ongoing commercialization of the ECOSmartPenTM.
MyDx continues to deliver on its long-term growth strategy as it utilizes its database of over 10 million pre-clinical data points that tie cannabis chemical profiles to their net physiological effects. MyDx360TMis a fully integrated suite of services designed to provide brands immediate access to the legal cannabis market with differentiated products that are created using the latest science and technology.
Some of the latest PRs from MYDX.
1. MyDx : Dr. Heiner Dreismann, Former CEO of Roche Molecular Systems and Diagnostics Veteran, Joins MyDx Executive Advisory Board. 4/25/18
2. MyDx to Uncover the Biggest Lie in Cannabis (MyDx entered into an agreement to provide a licensor with access to its dataset in order to come up with a "Counterfeit Index" that determines the likelihood that a strain name doesn't tie to its chemical profile.) Mar 06, 2018
3. MyDx's Biopharmaceutical Division Commences Clinical Trials On Its Unique MyDx360 Pain Management Formula
1/16/2018
4. MyDx Appoints Dr. Jessica Peatross As Chief Medical Officer 1/11/2018
5. MyDx Forms Exclusive Partnership With Highsmen Genetics To Offer Custom Cannabis Strains Tailored For Desired Physiological Effects. 1/4/2018
6. MyDx Cancels Reverse Stock Split 12/20/2017
7. MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen 12/14/2017
8. MyDx Files Patents & Is Now Accepting Preorders For The ECOSmartPen 11/28/2017
Additional points:
1. MYDX is current on all SEC filings.
2. Read the bio of the CEO Daniel Yazbeck
Also there are new deals referenced in the recent 10k. Ganja Gold.. Humanity Products.. both of which have active licenses in CA to sell MJ. Ganja Gold insider confirmed that they are working on making the first feedback vaporizer for the cannabis market. Humanity Products is heavily involved in the nootropic space and MYDX ceo said in interview that he is working on combining the two industries and hopes to attain an NZT like pill from the movie Limitless.
Dr. Heiner Dreismann, Former CEO of Roche Molecular Systems and Diagnostics Veteran, Joins MyDx Executive Advisory Board
April 24, 2018
Dr. Dreismann To Also Serve as Chairman of the Executive Advisory Board; Assist MyDx In Seeking Development Partners and Strategic Partners
San Diego, CA, April 24, 2018 (GLOBE NEWSWIRE) -- 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 understand the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced that Heiner Dreismann, Ph.D., has joined as the company’s Chairman of the Executive Advisory Board. Under Dr. Dreismann’s leadership as Chief Executive Officer of Roche Molecular Systems, Roche became the global leader in molecular diagnostics by a significant expansion of their portfolio of molecular tests and respective instrumentation. Prior to his appointment as Chief Executive Officer of Roche Molecular Systems, Dr. Dreismann held several other senior positions within Roche, including head of Global Business Development for Roche Diagnostics, Business Unit Europe Manager for PCR, head of Business Unit for Microbiology, as well as R&D positions in microbiology and infectious diseases and the head of manufacturing for infectious disease diagnostics.
MyDx CEO Daniel Yazbeck commented, “Dr. Dreismann is a top industry expert in the field of molecular and medical diagnostics. He has a proven track-record of leadership in the development, commercialization and adoption of diagnostics, and brings valuable real-world experience as we continue to develop our advance our smart devices and data monetization strategies in 2018.”
“Our focus will continue to be getting more of the MyDx diagnostic tools into consumers’ hands,” continued Yazbeck. “Dr. Dreismann, throughout his impressive career and consistent successful track record, has developed numerous domestic and international industry contacts which we believe will open doors for our company. We are very pleased to welcome Dr. Dreismann to MyDx and look forward to his active participation and contribution to our success.”
Dr. Dreismann added, “After having spent time with Mr. Yazbeck and learning more about his vision for MyDx as a leader in science based cannabis health technology, I am pleased to be a part of the team that has developed the first consumer diagnostic that will bring true innovation to personalized medicine. It is my intent to be an active member of the Advisory Board and as I develop a deeper understanding to become even more active with the Company. I intend to bring my experience and contacts, which I believe can create real opportunities for our business as we develop products and seek licensing partners for our technologies.”
Dr. Dreismann holds a Masters Degree in Biology and a Ph.D. in Microbiology/Molecular Biology (summa cum laude) from Westfaelische Wilhelms University in Muenster, Germany.
Mydx Announces 2017 Fiscal Year Results
April 18, 2018
Gross Profit Margin Surged to 73% with Gross Profits Remaining Relatively Flat at ~$306K as MyDx Continues to Execute on its Long-Term Strategy
SAN DIEGO, CA , April 18, 2018 (GLOBE NEWSWIRE) -- 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 announces its 2017 fiscal year earnings results and management analysis.
MyDx’s main goal in 2017 was to continue to expand the CannaDx community and capitalize on its vast consumer-generated database, the Largest Pre-Clinical Data Repository of its kind in the World, which contains over 55,000 HIPAA Compliant patient records consisting of nearly 10 million data points correlating consumer feedback to cannabis chemical profiles. As a result, MyDx set three primary objectives to position itself for long-term sustainable growth and profitability:
Expand database and diversify revenue streams
Improve CannaDx gross margin
Initiate Formal Clinical Trials on select formulas to ascertain their efficacy in relieving various ailments, such as acute lower back pain
Long-term growth initiatives begin to take shape as new products and services are set to launch
MyDx developed the ECOSmartPenTM to offer a cutting edge premium vaporizer for mass consumption that has the ability to collect and track consumption data on cannabis extracts. Accompanied by MyDx’s mobile phone app, the ECOSmartPenTM is not only capable of allowing users to track their consumption habits, but comes equipped with passive monitoring that also captures the dose and rate of usage. Thus, providing the dual benefit of allowing consumers to identify which products work best for them, and giving MyDx additional pre-clinical points of data on extracts that will serve to bolster and complement its already vast flower-based data-set.
Key EcoSmartPenTM Features and Benefits:
Child Safety
Dosage Scheduling & Tracking
Maintains Usage History of Each Cartridge since Purchase
Mobile App now offers the ability to earn loyalty coins for providing more detailed feedback
The launch of the ECOSmartPenTM, expected to launch later this year, experienced delays that were due, in part, to our engineering efforts to develop a unique electronic and software infrastructure that is interchangeable with custom molds and distinct designs for MyDx360TM Network Companies. Ultimately, a superior product was created compared to the first prototype.
MyDx also developed the MyDx360TM service to offer established brands and startups the ability to differentiate their products and improve speed-to-market by fully utilizing MyDx’s custom formulas, delivery mechanisms, and feedback ecosystem; as well as, providing access to California state licensed manufactures.
“By capitalizing on our pre-clinical dataset combined with our growing portfolio of smart devices, we are able to fast track the product development lifecycle for Brands as their OEM partner giving MyDx360TM customers a distinct and strategic advantage,” said Daniel Yazbeck, CEO of MyDx. “I believe the MyDX 360TM Network will prove to be one of the most successful Networks - providing consumer driven brands with immediate access to state licensing and differentiated products.”
MyDx360TM Key Features and Benefits:
Provides customers access to a wide range of formulas that MyDx’s community are using to address various ailments
Connects brands to state-licensed manufacturers for the creation of a diverse array of products, including: extracts, tinctures, strips, edibles, and drinks
Ability to use MyDx as an OEM that can customize its smart devices to identify with a brand’s target market (ie. aesthetics, form and function)
Allows the brand’s customers to provide direct, real-time feedback via the MyDx App
Analyzes user-feedback to provide insights that can be used to develop more targeted marketing campaigns and/or develop new products
Moreover, the MyDx360TM Network has been structured with the help of a top ten law firm to comply with Federal and State laws and provide MyDx the potential upside gained from the financial participation in an array of consumer brands in California and across state lines by licensing its intellectual property.
“For us, the most important element that we believe will determine the future success of consumer brands in the cannabis space is having access to pre-clinical data and consumer generated feedback that will help guide the development of superior products formulated for specific target markets,” said Yazbeck. “This and the ability to replicate and provide a consistent, repeatable formulations that people can come to rely on when they identify those Brands is really the key in differentiating yourself in the cannabis space.”
Gross Profit Margin Surged to 73%, from 40% a year earlier, with Gross Profits remaining relatively flat at approximately ~$306k
Gross Profit Margins rose to 73%, which favors MyDx’s long-term strategy, and gross profits remained relatively flat at ~$306k, despite CannaDx revenues falling ~37%, year over year. The positive effect on margins, in part, is due to successfully re-negotiating supplier contracts for the manufacture of its CannaDx product line and the discontinuing the use of certain distributors to sell its products, which also played a part in the decrease of revenues. Total revenues were also impacted by a recalibration of its marketing spend, and halting the direct licensing of its data, which will instead be bundled into the MyDx360TM service.
“The drop in sales was a natural byproduct of our plan to improve gross margins and be more effective at allocating our capital to grow the company,” said Yazbeck. “We spent half the cash to operate the business as we did last year, and were successful in fine tuning our sourcing and marketing practices, which gives us a huge leg up moving forward, as we begin to release other smart devices and services. The potential long-term value generated far outweighs the short-term hit in growth for the company.”
Adjusted EBITDA increased ~69% year over year due to rising gross margins, becoming more efficient with its marketing spend and scaling back non-critical R&D expenses
MyDx decreased marketing spend by ~$1.2mm, while becoming more efficient at deploying its capital as it increased its ability to earn a dollar per dollar marketing expense by 56%.
MyDx also significantly scaled back its R&D spend to focus its efforts on its current slate of smart devices and services: CannaDxTM, ECOSmartPenTM, MyDx360TM and Clinical Trials.
Other Notable accomplishments that Lead to a Promising Future
MyDx is working with Health Canada to acquire medical device designation for its products
MyDx Hired Dr. Jessica Peatross as Chief Medical Officer to help drive lead the randomized and placebo-controlled MyDx clinical trials to estimate the efficacy of MyDx's proprietary formulas on patients suffering from chronic Low Back Pain as a primary indication with Sleep, Depression and Anxiety as secondary indications.
MyDx has developed Popularity and Counterfeit Indexes that will be licensed to brands seeking ways to differentiate their products
March 01, 2018
MyDx Licensee to Uncover The Truth About What You Are And What You're Not Smoking Through A Popularity And Counterfeit Index
SAN DIEGO, March 1, 2018 /PRNewswire/ -- MyDx, Inc. (OTCQB: 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, sheds light on what cannabis consumers are actually buying at dispensaries across the nation and has licensed its database to a licensing partner that intends to create the industry's first Counterfeit and Popularity Indices.
Cannabis Counterfeit Index
MyDx entered into an agreement to provide a licensor with access to its dataset in order to come up with a "Counterfeit Index" that determines the likelihood that a strain name doesn't tie to its chemical profile.
The counterfeit index will identify and rank the strain names that have the greatest deviation in chemical profile which is often the result of intentionally mislabeling strains with names that gain extreme popularity in order to yield a greater price per gram.
"Chemical formulas can be complicated and a bit overwhelming, especially for consumers new to cannabis, so our licensee intends to give a 'BUYER BEWARE' warning on various product names, which will be issued in a number of ways, including website widgets and product labelling that can be used by companies such as Leafly," said Daniel Yazbeck, Chairman and CEO of MyDx.
The goal of the index is two-fold:
Since popular names yield higher prices, the index plans to inform consumers to demand confirmation of the chemical profile to ensure they're getting what they paid for.
Since the name may not tie to its chemical profile, more informed and nuanced consumers could equally demand confirmation of the chemical profile.
As of January 1, 2018, since recreational marijuana became legal in California, all cannabis products sold legally are required to be tested and the chemical profile displayed on the packaging. The important thing to note is that everyone is different and how one person reacts to consuming a cannabis product is different to how someone else's body may react. This is the reason why it is important for everyone to track and determine what is the best combination of cannabinoids and terpenes that works for their biology and desired effect. This was the premise behind the CannaDx analyzer and App which can be downloaded for free.
Cannabis Popularity Index
The same licensor is also interested in providing consumers with a popularity index associated with a chemical profile, rather than the name. As many are aware, BLUE DREAM is one of the most recognizable and popular strains out in the market; however, since MyDx determined that BLUE DREAMS differ dramatically in chemical profile, sample to sample, plans are in place to show which chemical profiles people enjoy/use the most to solve certain ailments/create certain feelings.
"Right now, we are learning which chemical profiles are being used to achieve certain results, and our objective is use that data to inform users that a certain profile is being reported by the crowd for headache relief, for example," said Yazbeck.
The primary goal of this index is to identify which chemical profiles are best for certain ailments and/or feelings. This, in turn, will help consumers more quickly identify profiles and will help brands better market their products.
Currently, these are the top ten most popular strains tested by MyDx Consumers over the last year:
Blue Dream
Sour Diesel
Green Crack
Gorilla Glue
White Widow
Purple Kush
OG Kush
Blueberry
Bubba Kush
Girl Scout Cookies
For Blue Dream, the average THC across approximately 100 tested Blue Dreams is 20.7% and the average CBD is 1.5%. The Top reported associated feelings for these strains include happy, relaxed and focused. The top reported ailments include: stress, anxiety, ADD/ADHD and others.
The Biggest Lie in Cannabis: "You know what you're ingesting into your body"
With one of the largest pre-clinical databases in the industry that ties chemical profile to physiological response through crowdsourced data, MyDx insights are uncovering the truth about the cannabis you purchase at your local dispensary – you're likely buying something entirely different than the strain name on the package.
For example, MyDx data shows that the "Blue Dream" cannabis strains, in general, differ by an average of 64% with respect to chemical profile - sample to sample – meaning, you're unlikely to get the same product every time. What's even more concerning is that Blue Dream isn't the only recognizable name where discrepancies exist, which demonstrates an industry-wide problem. Gorilla Glue, Green Crack, among others, have variances as high as 83%.
This has significant consequences for both the recreational and medicinal users, as more and more users are seeking more acute uses of marijuana to create certain feelings and/or solve various ailments.
A More Sophisticated User:
"I want to relieve pain or be creative without going to sleep"
Thanks to MyDx's Handheld Device, both recreational and medicinal users are becoming more informed about what they put into their bodies. As a result, users are better equipped to determine what and how much to use to achieve a desired result, which, in turn, has created a whole new subset of recreational and medicinal users.
Since chemical profiles affect people differently and because much of what you buy is unknown, more and more recreational and medicinal consumers are turning to MyDx and its partners to help them solve their ailments and achieve their goals.
"Consumers are using MyDx's proprietary data and tools to discover which chemical profiles, NOT THE NAME, help them best to achieve their needs. People's palates are more nuanced than before as more and more people seek better tailored experiences that they simply can't achieve by relying on at their local budtender," said Daniel Yazbeck. "And it's not just consumers who are a part of this trend. MyDx has licensed its dataset to a company looking to provide the industry's first Counterfeit and Popularity Indices that will eventually go on cannabis product packaging."
To learn more about MyDx, please visit meetmydx.com.
To learn more about the MyDx Data Analytics Division, please visit www.mydxlife.com/dataanalytics/.
For more information, please visit www.mydxlife.com.
MyDx's Biopharmaceutical Division Commences Clinical Trials On Its Unique MyDx360 Pain Management Formula
January 16, 2018
Partnering with the Leading Israeli Research and Development Organizations and Hospitals Devoted to the Scientific Study of Cannabis
SAN DIEGO, Jan. 16, 2018 /PRNewswire/ -- MyDx, Inc. (OTCQB: 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 understand the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced a definitive agreement and statement of work with a contract research organization to commence clinical trials in Israel on its proprietary pain management formula that was derived from 50,000+ pre-clinical, crowd-sourced physiological data-points tracked by MyDx's Handheld Cannabis Tester and associated mobile app. Israel was chosen for its ability to fast track studies through the FDA as well as its expertise in the cannabis field. The study will be conducted in one of the leading hospitals in Israel, and will be overseen by the Israeli Ministry of Health.
MyDx Engages Leading Israeli Hospital to Validate its Pain Management Formula
MyDx's Biopharmaceutical Division, which is focused on identifying green Active Pharmaceutical Ingredients (gAPITM), will conduct a randomized and placebo-controlled trial to estimate the efficacy of MyDx's proprietary formulas on patients suffering from chronic Low Back Pain as a Primary indication. The trial will also track Sleep, Depression and Anxiety as Secondary Indications. Formulas were derived from MyDx's proprietary database of pre-clinical, crowdsourced inputs that tied user experiences to the chemical makeup of a particular strain.
"Our data gives us amazing insights into how the chemical properties of cannabis impact our base of users," said Daniel Yazbeck, CEO of MyDx. "Now we're taking those insights into the pharmaceutical arena to confirm our preliminary findings."
"Cannabis holds so much promise for various categories of pain," continued Dr. Jessica Peatross, Chief Medical Officer of MyDx. "I'm personally very excited to pursue follow on studies that explore the activation of CB1 receptors to treat endometriosis, which is a painful condition that plagues 1 in 10 women in the USA today," concluded Dr. Jess.
MyDx initially intends to find a pain management solution for people suffering from chronic pain, since pain is the number one ailment its consumers are seeking to alleviate with cannabis. When clinical trials are near complete, MyDx expects to conduct additional trials for its MyDx360 customers on various other areas of interest as well as the next most prioritized ailments in the company database as indicated by MyDx users.
Clinical Trials for its pain management solution will begin on or around March of 2018, and should be completed by Q3 2018, with periodic updates on the status of results leading up to the completion of trials.
Clinical Trial Objectives
The Primary Objective is to compare the efficacy, as measured by the assessment of the level of back pain, of MyDx formulated products patients with chronic neuropathic back pain.
The Secondary Objective is to compare additional evidence of efficacy in the patients quality of life as it relates to:
Sleep
Anxiety
Depression
The Third Objective is to:
Validate MyDx EcoSmart Dosing Pen, Handheld Tester and resulting data
Validate the efficacy of MyDx360 Delivery Mechanisms such as the Thin Film Strips used in the study.
Characterize Safety Profile of "Company" Products
Ultimately, MyDx expects to gain insights from the controlled environment, overseen by a credible team of experienced scientists and doctors, that it can use to substantiate the safety and efficacy of MyDx360 Formulation Products.
With limited options to treat pain of such specificity, cannabis-based products may yet provide another complimentary (or separate) means to alleviate that pain. MyDx intends to confirm so, with the commencement of its clinical trials.
To learn more about MyDx's Biopharmaceutical division, please visit www.mydxlife.com/biopharma.
MyDx Appoints Dr. Jessica Peatross As Chief Medical Officer
January 11, 2018
Board Certified Internal Medicine Doctor to Lead MyDx Clinical Research Initiatives and Support MyDx360 Formulations Services
SAN DIEGO, Jan. 11, 2018 /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 it has recruited Dr. Jessica Peatross (Dr. Jess) as its Chief Medical Officer. Dr. Jess will lead the Clinical Research Initiatives that MyDx expects to begin soon as well as support formulation services offered to MyDx360 Customers.
Dr. Jessica Peatross is a western trained, board certified medical doctor and Gerson Therapy practitioner who began her journey into healing in 2009 when she graduated from the University of Louisville (KY) Internal Medicine residency program. For 6 years, Dr. Jess worked as a traditional doctor supporting patients in a level 1 trauma center, until she discovered that the mainstream prescription drug based methods of treating people were not working for her patients.
In 2014, Dr. Jess shifted her focus to practicing in the functional medicine field to get to the root cause of disease so it can be treated more effectively using natural alternatives. She has continued this work with prestigious medical practices including Optimal Health and Wellness and Whitiker Wellness, and is currently seeing her patients in San Diego's premiere Nourish Medical Center. Dr. Jess is also certified in stem cell therapy and has prescribed cannabis to her patients throughout her practice. Finally, Dr. Jess owns and operates an organically formulated nutraceutical line of products tailored to treating various chronic symptoms and illnesses which can be found on DrJess.com.
"In my 3.5 years as a Cannabis doctor, I have seen 8 out of 10 of my patients who are on narcotics, benzodiazepenes, sleep aids, and antidepressants wean off their medication with the proper medicinal ratio of THC to CBD, as well as medical guidance. What I am hopeful for is that the Cannabis industry can enlighten patients about an alternative way to heal, compared to traditional prescription medications. This may include herbs, minerals, vitamins, diet, sleep and lifestyle changes. Lifestyle changes and diet, specifically avoiding pesticides, cannot be understated. Surprisingly, herbs can often heal in the same fashion as pharmaceutical drugs without the side effects. And cannabis is no exception," stated Dr. Jessica Peatross, Chief Medical Officer of MyDx.
"We are very fortunate to have Dr. Peatross, a reputable and seasoned medical doctor who is passionate about teaching people how to be their own best doctorTM by educating themselves and listening to their body, join the MyDx executive team. I personally look forward to working closely with Dr. Jess to help people find relief by bridging the gap between Western and Eastern medicine," continued Daniel Yazbeck, former Scientist at Pfizer Pharmaceuticals and now Chairman & CEO of MyDx. "We are at the leading edge of new advancements towards greener, healthier medicine to address ailments such as pain, anxiety and insomnia. Dr. Jess is the perfect partner to help us discover new therapies that are derived from natural plants that we can offer to our MyDx360 customers as well as help us execute on clinical trials we expect to carry out to validate our crowdsourced formulations," concluded Mr. Yazbeck.
As the MyDx team expands its service offering, management anticipates that Dr. Jess will be able to offer doctor consultation for MyDx customers through the MyDx App, including the possibility of writing medical cannabis prescriptions in all legal states.
To learn more about the cannabis industry and MyDx, please visit www.meetmydx.com.
To learn more about Dr. Jess. please visit www.drjess.com.
To learn more about MyDx's BioPharmaceutical Division, please visit www.mydxlife.com/biopharma.
To learn more about the MyDx360 services, please visit www.mydxlife.com/mydx360.
MyDx Forms Exclusive Partnership With Highsmen Genetics To Offer Custom Cannabis Strains Tailored For Desired Physiological Effects
January 04, 2018
Through Natural Breeding, Further Enhancing One Of The Largest Preclinical Databases In The Industry
Empowering MYDX360 Brands to Further Improve The Stability and Consistency of the Customized Genetic Strains that will Power their Future Product Lines
SAN DIEGO, Jan. 4, 2018 /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 it has agreed on terms and entered into a Letter of Intent to partner with Highsmen Genetics to form a new Exclusive Joint Venture. The technology behind Highsmen to develop stable customized genetic strains for certain effects is expected to help MYDX360 customers realize additional brand loyalty through end-user input in the MyDx App that will now influence the flower breeding programs that power the product lines they are consuming.
"Imagine there was a technology to create a custom cannabis flower that is highly effective to treat lower back pain, anxiety, or sleep disorders. That's what we're working towards," stated Daniel Yazbeck, CEO of MyDx. "We are very excited to exclusively partner with the Highsmen team because we believe their unique approach to genetic profiling through stable breeding will help us achieve this goal as MyDx continues to grow one of the largest preclinical databases in the world that ties cannabis chemistry to end user feedback," concluded Mr. Yazbeck.
"Our partnership allows us to define genetics exclusive for each client, gain direct patient consumer feedback towards that strains profile and build a layer of trust that you can have the same consistent experience each time you consume cannabis," stated Joe Floyd, Founder and President of Highsmen Genetics. "It also opens the door for known personalities, athletes and those who may be cautious to step in the cannabis space a safe way to brand their own strain and distribute it directly into the cannabis market," concluded Mr. Floyd.
Exclusive Collaboration Structure
MYDX and HIGHSMEN have agreed to enter into a 50:50 Exclusive Joint Venture where the HIGHSMEN Genetics Technology will be offered exclusively to MYDX360 customers. Access will be limited and initial MYDX360 customers will be offered the service on a first come basis.
Initially, Highsmen and MyDx will focus on producing a stable 1:1 THC to CBD genetic line developed by HIGHSMEN. The goal is to be able to produce a custom flower strain with custom cannabinoids and terpenes that can be tailored for specific end use applications, such as sleep or pain relief, which will power natural products developed and offered to MyDx360 customers.
MyDx will continue the breeding program with HIGHSMEN with the goal of creating a custom flower strain for every physiological effect MyDx and its MyDx360 customers are seeking for their respective markets, backed by customer feedback via the MyDx App. MyDx360 customers are also expected to be able to leverage the combined networks of licensed producers and manufacturers to produce the necessary volumes of customized flower at more cost efficient prices.
Additionally, MyDx will equip HIGHSMEN with the CannaDx handheld analyzer and tracking App in order to catalog the genetic lines, strain lineage, input from consumers, and chemical makeup that function within the breeding program.
MyDx360 customers are expected to able to utilize this service in products as soon as the first quarter of 2018 with custom flower being deployed as early the second quarter of 2018.
HIGHSMEN's Natural Breeding vs GW Pharma Genetic Modification Approach
The technology behind the natural breeding process at HIGHSMEN begins with Genetic profiling, where customers define the traits desired for the custom strain flower they are breeding for. If a client suffers from insomnia, the cannabinoid and terpene profile of the cannabis flower that will relief that symptom must have a certain chemical makeup to achieve that desired effect. In an extremely simplified example, one can cross a high THC strain with a high CBD strain to potentially create a 1:1 THC to CBD producing product. This is in contract with the GW Pharmaceutical approach, where they genetically modify the DNA of a certain strain in order to produce a CBD rich strain.
By understanding the genetic makeup of their male breeders, the HIGHSMEN breeding program is able to expedite the breeding process by stabilizing strains much more quickly and in turn defining a chemical profile with a more consistent outcome. Other traits that can be tailored in the program include yield, height, size, indoor vs outdoor centric strains as well as strains less prone to infestation.
Taking it one step further, by utilizing the MyDx crowdsourced feedback ecosystem and data that is collected from consumers to influence the breeding program, the Company believes it can apply trends obtained from the data to refine the breeding approach. The goal is to entice the patients to further input their experience in relation to their strain profiles now knowing that their input will affect the integrity of products they are consuming. That said, with the legalization of recreational cannabis in California now in full force, the science is quickly catching up with the legalization and there remains much development that needs to be done to achieve the Company objectives.
To learn more about the industry and MyDx, please visit www.meetmydx.com.
To learn more about MyDx360, please visit www.mydxlife.com/mydx360 or email MyDx customer service at info@mydxlife.com with any questions you might have.
To learn more about Highsmen Genetics, please visit www.highsmen.com.
About HIGHSMEN Genetics.
HIGHSMEN is recognized for their unique approach to cannabis breeding and an ongoing attempt to further stabilize each genetic line to provide a more consistent experience for the end consumer. Highsmen aims to produce consistent cannabinoid and terpene profiles through the understanding the importance of dominant and recessive traits when breeding new cannabis strains with strong male breeders. Highsmen currently offers catered cannabis strains and the HIGHSMEN breeding service called Strain In Your Name which will be now offered through MyDx360. HIGHSMEN's founder Joe Floyd has a history of breeding that goes back more than 10 years. In addition, Mr. Floyd has a strong data analytics, software engineering and user interface design background which was gained during a 15 year career in the video game software development industry at companies such as Microsoft Game Studios, Electronic Arts, SEGA of America and Telltale Games. To learn more, please visit www.highsmen.com.
info@mydxlife.com
MYDX-Superior.Court.of.California.Demurrer.Rulings & Recent PR's
http://www.sandiego.courts.ca.gov/v3tr/ViewRulings.aspx?CaseNo=37-2017-00026331-CU-BT-CTL&SelDates=02/02/2018&EventId=1902311
SUPERIOR COURT OF CALIFORNIA,
DEPT.: EVENT DATE: EVENT TIME:
HALL OF JUSTICE TENTATIVE RULINGS - February 01, 2018
02/02/2018 10:30:00 AM C-66
COUNTY OF SAN DIEGO
February
01, 2018
JUDICIAL OFFICER:Kenneth J Medel
CASE NO.:
CASE CATEGORY:
EVENT TYPE:
CASE TITLE:
CASE TYPE:Civil - Unlimited Business Tort
Demurrer / Motion to Strike
37-2017-00026331-CU-BT-CTL
CDX INC VS DEWALD [IMAGED]
CAUSAL DOCUMENT/DATE FILED: Demurrer, 12/21/2017
stolo
Defendant's Demurrer to the Fifth Cause of Action for Negligent Interference is OVERRULED. The FAC alleges that there was a number of economic relationships that existed between the Plaintiffs and third parties. FAC ¶¶ 34; 76-79. The FAC further alleges that Dewald was aware of these relationships and yet still failed to act with due care with regard to the relationship between the Plaintiffs and the third parties and was aware that a lack of due care would lead to economic harm to the Plaintiffs. FAC ¶ 83. A duty of care need not arise solely out of privity of contract or some higher standard of fiduciary duty, but defendants have a general duty to act like a reasonable person with regard to foreseeable risk to others. See Dillon v. Legg, 68 Cal.2d 728, 741 (1968). The FAC need not allege that Dewald was the fiduciary of the Plaintiffs.
Defendant's Demurrer to the Seventh Cause of Action based on Bus. &.Prof Code, § 17200 is OVERRULED. "Engagement in business" is interpreted very broadly and the FAC's allegation that the moving party is an "investor and stock trader" satisfies the element of § 17200 requiring that the defendant be engaged in a business practice.
As to "restitution", California Code of Civil Procedure ("CCP") 430.10(e) does not allow for a defendant to demurrer a remedy.
Defendant's Demurrer to the Eighth Cause of Action for Civil Extortion is OVERRULED. The litigation privilege would not necessarily cover extortion. The Court has held that a lawyer's demand letter can constitute extortion as a matter of law, when a threat to report the recipient to the authorities regarding an alleged crime is accompanied by a demand for payment. Flatley v. Mauro, 39 Cal. App. 4th 299, 328 (2006).
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MYDX CANCELS REVERSE STOCK SPLIT AND OTHER RECENT PR'S
http://www.prnewswire.co.uk/news-releases/mydx-cancels-reverse-stock-split-665429493.html
MyDx Cancels Reverse Stock Split
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.
Related Links
http://www.mydxlife.com
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https://ir.mydxlife.com/press-releases/detail/68/mydx-seeks-medical-device-designation-for-cannadx-and-the
Press Releases
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MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen
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December 14, 2017
Making MyDx Smart Devices More Affordable & Accessible for Canadian Cannabis Users
SAN DIEGO, Dec. 14, 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 it submitted an application and is seeking medical device designation in Canada for its CannaDxTM Handheld Tester and its ECOSmartPenTM in order to make its products more accessible to medicinal users seeking to track and manage their consumption habits and prevent abuse.
According to the Institute of Health Economics, under the Food and Drugs Act, medical devices have a broad definition that includes any item sold to diagnose, treat, mitigate, or prevent a disease, disorder or abnormal physical state, or any of their symptoms.
MyDx products will be used to track crowdsourced herbal medicine by our customers to treat various ailments as well as monitor and track consumption habits (a feature shared by both the ECOSmartPen and the CannaDx Handheld Tester) to promote public safety and accountability. It's easy to see how MyDx products can fit within the confines of that description and the company is confident in its ability to gain approval. Still, there can be no assurance that it will gain or be granted such certifications.
Increases Affordability & Accessibility to MyDx Products Country-wide
Recently, Loblaws, a large Canadian supermarket chain, extended coverage for medical marijuana to its ~45,000 employees under policies managed by Manulife and Great-West Life. With a medical device classification, medicinal users would be able to seek reimbursement from their insurance providers for their MyDx devices, significantly lowering the overall cost to patients.
With the advent of new Health Canada Regulations in 2015, following the Supreme Court's ruling that users of medical marijuana should be permitted to consume the product in more varied forms than smoking dried buds, the demand for insurers to cover medical marijuana under benefit plans has increased exponentially according to a report done by Miller Thompson LLP. As a result, the country is beginning to see a shift in its healthcare landscape, which is becoming more marijuana friendly.
"Our goal is enable a more personalized medical experience for every patient by ensuring everyone has access to our smart devices and crowdsourced formulations," said Daniel Yazbeck, CEO of MyDx. "Our products are used all over the world today to help people Trust & Verify® their cannabis and to monitor and track their consumption habits."
Entry level MyDx Handheld Testers currently retail for $699 (plus tax & shipping). The EcoSmartPen is projected to be shipped in the first quarter of next year and the company is currently taking pre-orders on its website at www.mydxlife.com/ecosmartpen.
To learn more about the industry and MyDx, please visit www.meetmydx.com.
ANOTHER POST:-----------------------------------------------------------
This is.the.beginning of.something.huge. I.was.hoping in my lifetime something like this would happen with MYDX and it could happen in 5 years or less!
Ok, months back(references to follow) I suggested how human Genomics are important because it is what MYDX has been saying all along, that each individual physiology is unique and so is how each physiology reacts to same cannabis strain. Phylos fits in perfect with the concept of cross referencing CannaDX sample test data with Phylos cannabis Genomics and now a feeling can be associated with a degree of accuracy to a specific cannabis genome, so now, the individual, not even knowing his/own gene sequence can identify with a specific cannabis plant for a specific ailment relief.
This cross-referencing of data makes each entity(Phylos and MYDX) codependent for generating even more meaningful data to offer the market place. This is the next step in the ultimate cost-effective human/cannabis genome project for medicinal purposes.
I’m not sure what he next step after this would be but eventually, hopefully in my lifetime as well MYDX will be involved in cross-referencing individual Genomics with cannabis Genomics where the individual would know with absolute certainty based on historical data what cannabis product to purchase to remedy a specific ailment or to provide a wanted reaction.
“Phylos uses genome sequencing technology to generate DNA “barcodes” that uniquely identify cannabis varieties. This information is important for basic scientific research, and it also serves as proof of existence that can be used to defend against attempts at patenting.”
http://www.phylosbioscience.com/about/data-policy/
Perhaps this can be used to fight of GW attempts at CBD patenting.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133208585
“Last year, the China Food and Drug Administration approved the sequencer as a medical device, allowing its use in clinical genetic testing...”
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132234994
http://www.prnewswire.com/news-releases/pharma-and-biotech-companies-significantly-investing-in-rd-focus-on-rising-demand-for-advanced-medicines-628164013.html Wow, according to this, est. 50Billion dollars is used by these companies alone are using on R&D investments specifically in "advanced medicine" alone:
"In just over a year ago, it's been estimated $50 billion was invested on pharmaceutical Research and Development activities majorly on oncology, diabetes, and autoimmune therapy classes, which is expected to propel the biotechnology services outsourcing market growth. Biotechnology and Pharmaceutical Companies with developments and recent market activity this week include: Moleculin Biotech, Inc., (NASDAQ: MBRX), XBiotech Inc. (NASDAQ: XBIT), GTx, Inc. (NASDAQ: GTXI), Agenus Inc. (NASDAQ: AGEN) and TrovaGene Inc. (NASDAQ: TROV)"
How many of these companies are applying research to the use of medicinal cannabis in the rising medicinal cannabis market? They are clearly focusing their attention on non-cannabis markets and will go through MYDX when the time is right for them which is most likely when medicinal cannabis is legal at the federal level. The more years, the more they will have to pay for all of MYDX's R&D investments in advanced medicinal cannabis vape pen. What effect will this have on current MYDX investors?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132627843
MYDX is the solution to an EXPOSED PROBLEM: unsafe black market weed. Before it was just black market weed, this by itself is not effective for MYDX but now that it's UNREGULATED HARMFUL BLACK MARKET WEED, the only chance consumers have of not being harmed by illegal unregulated weed is the MYDX CannaDX chemical analyzer with proven successful results! Once MYDX becomes PREMIER HOUSEHOLD CANNABIS QUALITY CONTROL backed by consumers and consumer confidence, what other companies will be around to compete? What direct competition does MYDX have?
MYDX major reasons why MYDX data is so valuable (followed by reference link):
"However, as MyDx began to analyze the data it accumulated from its testing devices, a much darker picture appeared - you cannot trust what dispensaries sell you."
"Today, if you were to go into any dispensary and ask for "Blue Dream", what do you think you would get? Would you get "Blue Dream"?
According to MyDx data, the answer is unequivocally NO!
Unfortunately, not all Blue Dreams are created equal, unveiling the biggest lie in cannabis. Whereas consumer products outside of cannabis enjoy a higher level of consistency and reliability brought on by stricter enforcement of consumer laws, the same cannot be said about the cannabis industry."
"Fortunately for MyDx users, brand names take a back seat to chemical profiles as MyDx tracks data based on sensory responses, interpreted chemical profiles, and an associated feeling or relief. So while you can't trust the brand name you purchase, you can Trust and Verify® chemical profiles and track how those profiles make you feel using MyDx, which has created another opportunity: green Active Pharmaceuticals Ingredients (gAPI)
"I believe extraction and formulation into a concentrate that can be delivered consistently to help patients find relief for their ailments and symptoms is the next logical step to achieving some level of consistency in the industry," stated Daniel Yazbeck, Chief Executive Officer of MyDx."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
MYDX Why gAPI is so valuable (link reference to follow):
"...we are now identifying the specific green Active Pharmaceutical Ingredients (gAPI) that can be derived from cannabis, as well as the dosage of each ingredient that should go into a formulation so it can be tailored for a specific therapy. This information not only supports an active engaged community, but also provides the basis for our Company to partner, sell and supply smart devices and formulations to the various communities we service so they can benefit from tailored cannabis therapies that meet their specific needs."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
MYDX is HIPPA compliant, important? You be the judge after considering the following (reference links to follow):
"We are finally getting to the heart of what ailments people are tracking and more importantly, what unique chemicals profiles are helping them find relief," stated Yazbeck. "By mining this HIPPA Compliant Data, we are now identifying the specific green Active Pharmaceutical Ingredients (gAPI) that can be derived from cannabis, as well as the dosage of each ingredient that should go into a formulation so it can be tailored for a specific therapy."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
Is HIPPA compliance important (reference link to follow)?
"When dealing with patient ePHI, having a HIPAA compliant provider offers practitioners multiple benefits and peace of mind against impending audits."
http://blog.corespace.com/the-benefits-of-a-hipaa-compliant-provider
Is this product helping consumers determine whether or not they want to smoke a certain strain of cannabis before they smoke it? Is this product helping consumers communicate with MYDX verification that a certain strain could have a certain effect for someone interested in similar results as research before they invest in a cannabis purchase? The answer to these quintessential questions is undoubtedly YES and this is what I love about MYDX and what it is doing for consumers through CannaDX. Big deal if someone tells me a certain strain works for them, I want to be able to test it for myself. MYDX will allow me to test a strain I've had that made me feel sick and caused vomiting and dizziness. I love that I will be able to test what strain that was so I know through the "trust and verify" process that I will never put that strain in my body ever again! This is just cannabis, MYDX is so much more but what it accomplishes is exactly what it set out to do from day one and that is allow consumers the opportunity to "trust and verify" something before they expose it to their bodies, and as far as AeroDX, I believe, there will be sensors you can place in a room that will monitor the air so that before someone enters it, they will be able to know if the air is toxic. For sure, if a room's air is toxic after you enter it, AeroDX will let you know. If someone hates this product or company, it can't be for these reasons, so that's what I will never understand about people who say they hate this company and products. I'm not going to ask questions leading to the conclusion that people involved in companies such as big pharma just don't want MYDX to succeed because it is a threat to their market share in their industry.
MyDx Reports Positive Net Income as it Positions Itself for Growth and Investment
SAN DIEGO, CA, May 22, 2018 (GLOBE NEWSWIRE) -- MyDx, Inc.(OTC: MYDX), a leader in science based cannabis health technologies and creator of the industry’s first handheld analyzer to help consumers and professionals understand how cannabis makes cannabis users feel,today announces its 2018 first quarter earnings results and management analysis.
MyDx reported positive earnings of $880k in the first quarter of 2018 as it executes its business model. The $880k compares favorably to the same quarter last year that saw a loss of -$5.1 million.
Operations continue to be streamlined to maximize operational efficiency and minimize waste. Gross profits remained relatively even from the same quarter in the previous year as gross margins increased by 6 percentage points. Total Operating costs decreased by 32% from the same quarter in the previous year due to the more efficient scaling and allocation of marketing and other general operating expenses. R&D expenses rose due to the ongoing commercialization of the ECOSmartPenTM.
MyDx continues to deliver on its long-term growth strategy as it utilizes its database of over 10 million pre-clinical data points that tie cannabis chemical profiles to their net physiological effects. MyDx360TMis a fully integrated suite of services designed to provide brands immediate access to the legal cannabis market with differentiated products that are created using the latest science and technology.
Some of the latest PRs from MYDX.
1. MyDx : Dr. Heiner Dreismann, Former CEO of Roche Molecular Systems and Diagnostics Veteran, Joins MyDx Executive Advisory Board. 4/25/18
2. MyDx to Uncover the Biggest Lie in Cannabis (MyDx entered into an agreement to provide a licensor with access to its dataset in order to come up with a "Counterfeit Index" that determines the likelihood that a strain name doesn't tie to its chemical profile.) Mar 06, 2018
3. MyDx's Biopharmaceutical Division Commences Clinical Trials On Its Unique MyDx360 Pain Management Formula
1/16/2018
4. MyDx Appoints Dr. Jessica Peatross As Chief Medical Officer 1/11/2018
5. MyDx Forms Exclusive Partnership With Highsmen Genetics To Offer Custom Cannabis Strains Tailored For Desired Physiological Effects. 1/4/2018
6. MyDx Cancels Reverse Stock Split 12/20/2017
7. MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen 12/14/2017
8. MyDx Files Patents & Is Now Accepting Preorders For The ECOSmartPen 11/28/2017
Additional points:
1. MYDX is current on all SEC filings.
2. Read the bio of the CEO Daniel Yazbeck
Also there are new deals referenced in the recent 10k. Ganja Gold.. Humanity Products.. both of which have active licenses in CA to sell MJ. Ganja Gold insider confirmed that they are working on making the first feedback vaporizer for the cannabis market. Humanity Products is heavily involved in the nootropic space and MYDX ceo said in interview that he is working on combining the two industries and hopes to attain an NZT like pill from the movie Limitless.
Dr. Heiner Dreismann, Former CEO of Roche Molecular Systems and Diagnostics Veteran, Joins MyDx Executive Advisory Board
April 24, 2018
Dr. Dreismann To Also Serve as Chairman of the Executive Advisory Board; Assist MyDx In Seeking Development Partners and Strategic Partners
San Diego, CA, April 24, 2018 (GLOBE NEWSWIRE) -- 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 understand the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced that Heiner Dreismann, Ph.D., has joined as the company’s Chairman of the Executive Advisory Board. Under Dr. Dreismann’s leadership as Chief Executive Officer of Roche Molecular Systems, Roche became the global leader in molecular diagnostics by a significant expansion of their portfolio of molecular tests and respective instrumentation. Prior to his appointment as Chief Executive Officer of Roche Molecular Systems, Dr. Dreismann held several other senior positions within Roche, including head of Global Business Development for Roche Diagnostics, Business Unit Europe Manager for PCR, head of Business Unit for Microbiology, as well as R&D positions in microbiology and infectious diseases and the head of manufacturing for infectious disease diagnostics.
MyDx CEO Daniel Yazbeck commented, “Dr. Dreismann is a top industry expert in the field of molecular and medical diagnostics. He has a proven track-record of leadership in the development, commercialization and adoption of diagnostics, and brings valuable real-world experience as we continue to develop our advance our smart devices and data monetization strategies in 2018.”
“Our focus will continue to be getting more of the MyDx diagnostic tools into consumers’ hands,” continued Yazbeck. “Dr. Dreismann, throughout his impressive career and consistent successful track record, has developed numerous domestic and international industry contacts which we believe will open doors for our company. We are very pleased to welcome Dr. Dreismann to MyDx and look forward to his active participation and contribution to our success.”
Dr. Dreismann added, “After having spent time with Mr. Yazbeck and learning more about his vision for MyDx as a leader in science based cannabis health technology, I am pleased to be a part of the team that has developed the first consumer diagnostic that will bring true innovation to personalized medicine. It is my intent to be an active member of the Advisory Board and as I develop a deeper understanding to become even more active with the Company. I intend to bring my experience and contacts, which I believe can create real opportunities for our business as we develop products and seek licensing partners for our technologies.”
Dr. Dreismann holds a Masters Degree in Biology and a Ph.D. in Microbiology/Molecular Biology (summa cum laude) from Westfaelische Wilhelms University in Muenster, Germany.
Mydx Announces 2017 Fiscal Year Results
April 18, 2018
Gross Profit Margin Surged to 73% with Gross Profits Remaining Relatively Flat at ~$306K as MyDx Continues to Execute on its Long-Term Strategy
SAN DIEGO, CA , April 18, 2018 (GLOBE NEWSWIRE) -- 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 announces its 2017 fiscal year earnings results and management analysis.
MyDx’s main goal in 2017 was to continue to expand the CannaDx community and capitalize on its vast consumer-generated database, the Largest Pre-Clinical Data Repository of its kind in the World, which contains over 55,000 HIPAA Compliant patient records consisting of nearly 10 million data points correlating consumer feedback to cannabis chemical profiles. As a result, MyDx set three primary objectives to position itself for long-term sustainable growth and profitability:
Expand database and diversify revenue streams
Improve CannaDx gross margin
Initiate Formal Clinical Trials on select formulas to ascertain their efficacy in relieving various ailments, such as acute lower back pain
Long-term growth initiatives begin to take shape as new products and services are set to launch
MyDx developed the ECOSmartPenTM to offer a cutting edge premium vaporizer for mass consumption that has the ability to collect and track consumption data on cannabis extracts. Accompanied by MyDx’s mobile phone app, the ECOSmartPenTM is not only capable of allowing users to track their consumption habits, but comes equipped with passive monitoring that also captures the dose and rate of usage. Thus, providing the dual benefit of allowing consumers to identify which products work best for them, and giving MyDx additional pre-clinical points of data on extracts that will serve to bolster and complement its already vast flower-based data-set.
Key EcoSmartPenTM Features and Benefits:
Child Safety
Dosage Scheduling & Tracking
Maintains Usage History of Each Cartridge since Purchase
Mobile App now offers the ability to earn loyalty coins for providing more detailed feedback
The launch of the ECOSmartPenTM, expected to launch later this year, experienced delays that were due, in part, to our engineering efforts to develop a unique electronic and software infrastructure that is interchangeable with custom molds and distinct designs for MyDx360TM Network Companies. Ultimately, a superior product was created compared to the first prototype.
MyDx also developed the MyDx360TM service to offer established brands and startups the ability to differentiate their products and improve speed-to-market by fully utilizing MyDx’s custom formulas, delivery mechanisms, and feedback ecosystem; as well as, providing access to California state licensed manufactures.
“By capitalizing on our pre-clinical dataset combined with our growing portfolio of smart devices, we are able to fast track the product development lifecycle for Brands as their OEM partner giving MyDx360TM customers a distinct and strategic advantage,” said Daniel Yazbeck, CEO of MyDx. “I believe the MyDX 360TM Network will prove to be one of the most successful Networks - providing consumer driven brands with immediate access to state licensing and differentiated products.”
MyDx360TM Key Features and Benefits:
Provides customers access to a wide range of formulas that MyDx’s community are using to address various ailments
Connects brands to state-licensed manufacturers for the creation of a diverse array of products, including: extracts, tinctures, strips, edibles, and drinks
Ability to use MyDx as an OEM that can customize its smart devices to identify with a brand’s target market (ie. aesthetics, form and function)
Allows the brand’s customers to provide direct, real-time feedback via the MyDx App
Analyzes user-feedback to provide insights that can be used to develop more targeted marketing campaigns and/or develop new products
Moreover, the MyDx360TM Network has been structured with the help of a top ten law firm to comply with Federal and State laws and provide MyDx the potential upside gained from the financial participation in an array of consumer brands in California and across state lines by licensing its intellectual property.
“For us, the most important element that we believe will determine the future success of consumer brands in the cannabis space is having access to pre-clinical data and consumer generated feedback that will help guide the development of superior products formulated for specific target markets,” said Yazbeck. “This and the ability to replicate and provide a consistent, repeatable formulations that people can come to rely on when they identify those Brands is really the key in differentiating yourself in the cannabis space.”
Gross Profit Margin Surged to 73%, from 40% a year earlier, with Gross Profits remaining relatively flat at approximately ~$306k
Gross Profit Margins rose to 73%, which favors MyDx’s long-term strategy, and gross profits remained relatively flat at ~$306k, despite CannaDx revenues falling ~37%, year over year. The positive effect on margins, in part, is due to successfully re-negotiating supplier contracts for the manufacture of its CannaDx product line and the discontinuing the use of certain distributors to sell its products, which also played a part in the decrease of revenues. Total revenues were also impacted by a recalibration of its marketing spend, and halting the direct licensing of its data, which will instead be bundled into the MyDx360TM service.
“The drop in sales was a natural byproduct of our plan to improve gross margins and be more effective at allocating our capital to grow the company,” said Yazbeck. “We spent half the cash to operate the business as we did last year, and were successful in fine tuning our sourcing and marketing practices, which gives us a huge leg up moving forward, as we begin to release other smart devices and services. The potential long-term value generated far outweighs the short-term hit in growth for the company.”
Adjusted EBITDA increased ~69% year over year due to rising gross margins, becoming more efficient with its marketing spend and scaling back non-critical R&D expenses
MyDx decreased marketing spend by ~$1.2mm, while becoming more efficient at deploying its capital as it increased its ability to earn a dollar per dollar marketing expense by 56%.
MyDx also significantly scaled back its R&D spend to focus its efforts on its current slate of smart devices and services: CannaDxTM, ECOSmartPenTM, MyDx360TM and Clinical Trials.
Other Notable accomplishments that Lead to a Promising Future
MyDx is working with Health Canada to acquire medical device designation for its products
MyDx Hired Dr. Jessica Peatross as Chief Medical Officer to help drive lead the randomized and placebo-controlled MyDx clinical trials to estimate the efficacy of MyDx's proprietary formulas on patients suffering from chronic Low Back Pain as a primary indication with Sleep, Depression and Anxiety as secondary indications.
MyDx has developed Popularity and Counterfeit Indexes that will be licensed to brands seeking ways to differentiate their products
March 01, 2018
MyDx Licensee to Uncover The Truth About What You Are And What You're Not Smoking Through A Popularity And Counterfeit Index
SAN DIEGO, March 1, 2018 /PRNewswire/ -- MyDx, Inc. (OTCQB: 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, sheds light on what cannabis consumers are actually buying at dispensaries across the nation and has licensed its database to a licensing partner that intends to create the industry's first Counterfeit and Popularity Indices.
Cannabis Counterfeit Index
MyDx entered into an agreement to provide a licensor with access to its dataset in order to come up with a "Counterfeit Index" that determines the likelihood that a strain name doesn't tie to its chemical profile.
The counterfeit index will identify and rank the strain names that have the greatest deviation in chemical profile which is often the result of intentionally mislabeling strains with names that gain extreme popularity in order to yield a greater price per gram.
"Chemical formulas can be complicated and a bit overwhelming, especially for consumers new to cannabis, so our licensee intends to give a 'BUYER BEWARE' warning on various product names, which will be issued in a number of ways, including website widgets and product labelling that can be used by companies such as Leafly," said Daniel Yazbeck, Chairman and CEO of MyDx.
The goal of the index is two-fold:
Since popular names yield higher prices, the index plans to inform consumers to demand confirmation of the chemical profile to ensure they're getting what they paid for.
Since the name may not tie to its chemical profile, more informed and nuanced consumers could equally demand confirmation of the chemical profile.
As of January 1, 2018, since recreational marijuana became legal in California, all cannabis products sold legally are required to be tested and the chemical profile displayed on the packaging. The important thing to note is that everyone is different and how one person reacts to consuming a cannabis product is different to how someone else's body may react. This is the reason why it is important for everyone to track and determine what is the best combination of cannabinoids and terpenes that works for their biology and desired effect. This was the premise behind the CannaDx analyzer and App which can be downloaded for free.
Cannabis Popularity Index
The same licensor is also interested in providing consumers with a popularity index associated with a chemical profile, rather than the name. As many are aware, BLUE DREAM is one of the most recognizable and popular strains out in the market; however, since MyDx determined that BLUE DREAMS differ dramatically in chemical profile, sample to sample, plans are in place to show which chemical profiles people enjoy/use the most to solve certain ailments/create certain feelings.
"Right now, we are learning which chemical profiles are being used to achieve certain results, and our objective is use that data to inform users that a certain profile is being reported by the crowd for headache relief, for example," said Yazbeck.
The primary goal of this index is to identify which chemical profiles are best for certain ailments and/or feelings. This, in turn, will help consumers more quickly identify profiles and will help brands better market their products.
Currently, these are the top ten most popular strains tested by MyDx Consumers over the last year:
Blue Dream
Sour Diesel
Green Crack
Gorilla Glue
White Widow
Purple Kush
OG Kush
Blueberry
Bubba Kush
Girl Scout Cookies
For Blue Dream, the average THC across approximately 100 tested Blue Dreams is 20.7% and the average CBD is 1.5%. The Top reported associated feelings for these strains include happy, relaxed and focused. The top reported ailments include: stress, anxiety, ADD/ADHD and others.
The Biggest Lie in Cannabis: "You know what you're ingesting into your body"
With one of the largest pre-clinical databases in the industry that ties chemical profile to physiological response through crowdsourced data, MyDx insights are uncovering the truth about the cannabis you purchase at your local dispensary – you're likely buying something entirely different than the strain name on the package.
For example, MyDx data shows that the "Blue Dream" cannabis strains, in general, differ by an average of 64% with respect to chemical profile - sample to sample – meaning, you're unlikely to get the same product every time. What's even more concerning is that Blue Dream isn't the only recognizable name where discrepancies exist, which demonstrates an industry-wide problem. Gorilla Glue, Green Crack, among others, have variances as high as 83%.
This has significant consequences for both the recreational and medicinal users, as more and more users are seeking more acute uses of marijuana to create certain feelings and/or solve various ailments.
A More Sophisticated User:
"I want to relieve pain or be creative without going to sleep"
Thanks to MyDx's Handheld Device, both recreational and medicinal users are becoming more informed about what they put into their bodies. As a result, users are better equipped to determine what and how much to use to achieve a desired result, which, in turn, has created a whole new subset of recreational and medicinal users.
Since chemical profiles affect people differently and because much of what you buy is unknown, more and more recreational and medicinal consumers are turning to MyDx and its partners to help them solve their ailments and achieve their goals.
"Consumers are using MyDx's proprietary data and tools to discover which chemical profiles, NOT THE NAME, help them best to achieve their needs. People's palates are more nuanced than before as more and more people seek better tailored experiences that they simply can't achieve by relying on at their local budtender," said Daniel Yazbeck. "And it's not just consumers who are a part of this trend. MyDx has licensed its dataset to a company looking to provide the industry's first Counterfeit and Popularity Indices that will eventually go on cannabis product packaging."
To learn more about MyDx, please visit meetmydx.com.
To learn more about the MyDx Data Analytics Division, please visit www.mydxlife.com/dataanalytics/.
For more information, please visit www.mydxlife.com.
MyDx's Biopharmaceutical Division Commences Clinical Trials On Its Unique MyDx360 Pain Management Formula
January 16, 2018
Partnering with the Leading Israeli Research and Development Organizations and Hospitals Devoted to the Scientific Study of Cannabis
SAN DIEGO, Jan. 16, 2018 /PRNewswire/ -- MyDx, Inc. (OTCQB: 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 understand the chemical profile of cannabis with how it makes them feel and which ailments it alleviates, today announced a definitive agreement and statement of work with a contract research organization to commence clinical trials in Israel on its proprietary pain management formula that was derived from 50,000+ pre-clinical, crowd-sourced physiological data-points tracked by MyDx's Handheld Cannabis Tester and associated mobile app. Israel was chosen for its ability to fast track studies through the FDA as well as its expertise in the cannabis field. The study will be conducted in one of the leading hospitals in Israel, and will be overseen by the Israeli Ministry of Health.
MyDx Engages Leading Israeli Hospital to Validate its Pain Management Formula
MyDx's Biopharmaceutical Division, which is focused on identifying green Active Pharmaceutical Ingredients (gAPITM), will conduct a randomized and placebo-controlled trial to estimate the efficacy of MyDx's proprietary formulas on patients suffering from chronic Low Back Pain as a Primary indication. The trial will also track Sleep, Depression and Anxiety as Secondary Indications. Formulas were derived from MyDx's proprietary database of pre-clinical, crowdsourced inputs that tied user experiences to the chemical makeup of a particular strain.
"Our data gives us amazing insights into how the chemical properties of cannabis impact our base of users," said Daniel Yazbeck, CEO of MyDx. "Now we're taking those insights into the pharmaceutical arena to confirm our preliminary findings."
"Cannabis holds so much promise for various categories of pain," continued Dr. Jessica Peatross, Chief Medical Officer of MyDx. "I'm personally very excited to pursue follow on studies that explore the activation of CB1 receptors to treat endometriosis, which is a painful condition that plagues 1 in 10 women in the USA today," concluded Dr. Jess.
MyDx initially intends to find a pain management solution for people suffering from chronic pain, since pain is the number one ailment its consumers are seeking to alleviate with cannabis. When clinical trials are near complete, MyDx expects to conduct additional trials for its MyDx360 customers on various other areas of interest as well as the next most prioritized ailments in the company database as indicated by MyDx users.
Clinical Trials for its pain management solution will begin on or around March of 2018, and should be completed by Q3 2018, with periodic updates on the status of results leading up to the completion of trials.
Clinical Trial Objectives
The Primary Objective is to compare the efficacy, as measured by the assessment of the level of back pain, of MyDx formulated products patients with chronic neuropathic back pain.
The Secondary Objective is to compare additional evidence of efficacy in the patients quality of life as it relates to:
Sleep
Anxiety
Depression
The Third Objective is to:
Validate MyDx EcoSmart Dosing Pen, Handheld Tester and resulting data
Validate the efficacy of MyDx360 Delivery Mechanisms such as the Thin Film Strips used in the study.
Characterize Safety Profile of "Company" Products
Ultimately, MyDx expects to gain insights from the controlled environment, overseen by a credible team of experienced scientists and doctors, that it can use to substantiate the safety and efficacy of MyDx360 Formulation Products.
With limited options to treat pain of such specificity, cannabis-based products may yet provide another complimentary (or separate) means to alleviate that pain. MyDx intends to confirm so, with the commencement of its clinical trials.
To learn more about MyDx's Biopharmaceutical division, please visit www.mydxlife.com/biopharma.
MyDx Appoints Dr. Jessica Peatross As Chief Medical Officer
January 11, 2018
Board Certified Internal Medicine Doctor to Lead MyDx Clinical Research Initiatives and Support MyDx360 Formulations Services
SAN DIEGO, Jan. 11, 2018 /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 it has recruited Dr. Jessica Peatross (Dr. Jess) as its Chief Medical Officer. Dr. Jess will lead the Clinical Research Initiatives that MyDx expects to begin soon as well as support formulation services offered to MyDx360 Customers.
Dr. Jessica Peatross is a western trained, board certified medical doctor and Gerson Therapy practitioner who began her journey into healing in 2009 when she graduated from the University of Louisville (KY) Internal Medicine residency program. For 6 years, Dr. Jess worked as a traditional doctor supporting patients in a level 1 trauma center, until she discovered that the mainstream prescription drug based methods of treating people were not working for her patients.
In 2014, Dr. Jess shifted her focus to practicing in the functional medicine field to get to the root cause of disease so it can be treated more effectively using natural alternatives. She has continued this work with prestigious medical practices including Optimal Health and Wellness and Whitiker Wellness, and is currently seeing her patients in San Diego's premiere Nourish Medical Center. Dr. Jess is also certified in stem cell therapy and has prescribed cannabis to her patients throughout her practice. Finally, Dr. Jess owns and operates an organically formulated nutraceutical line of products tailored to treating various chronic symptoms and illnesses which can be found on DrJess.com.
"In my 3.5 years as a Cannabis doctor, I have seen 8 out of 10 of my patients who are on narcotics, benzodiazepenes, sleep aids, and antidepressants wean off their medication with the proper medicinal ratio of THC to CBD, as well as medical guidance. What I am hopeful for is that the Cannabis industry can enlighten patients about an alternative way to heal, compared to traditional prescription medications. This may include herbs, minerals, vitamins, diet, sleep and lifestyle changes. Lifestyle changes and diet, specifically avoiding pesticides, cannot be understated. Surprisingly, herbs can often heal in the same fashion as pharmaceutical drugs without the side effects. And cannabis is no exception," stated Dr. Jessica Peatross, Chief Medical Officer of MyDx.
"We are very fortunate to have Dr. Peatross, a reputable and seasoned medical doctor who is passionate about teaching people how to be their own best doctorTM by educating themselves and listening to their body, join the MyDx executive team. I personally look forward to working closely with Dr. Jess to help people find relief by bridging the gap between Western and Eastern medicine," continued Daniel Yazbeck, former Scientist at Pfizer Pharmaceuticals and now Chairman & CEO of MyDx. "We are at the leading edge of new advancements towards greener, healthier medicine to address ailments such as pain, anxiety and insomnia. Dr. Jess is the perfect partner to help us discover new therapies that are derived from natural plants that we can offer to our MyDx360 customers as well as help us execute on clinical trials we expect to carry out to validate our crowdsourced formulations," concluded Mr. Yazbeck.
As the MyDx team expands its service offering, management anticipates that Dr. Jess will be able to offer doctor consultation for MyDx customers through the MyDx App, including the possibility of writing medical cannabis prescriptions in all legal states.
To learn more about the cannabis industry and MyDx, please visit www.meetmydx.com.
To learn more about Dr. Jess. please visit www.drjess.com.
To learn more about MyDx's BioPharmaceutical Division, please visit www.mydxlife.com/biopharma.
To learn more about the MyDx360 services, please visit www.mydxlife.com/mydx360.
MyDx Forms Exclusive Partnership With Highsmen Genetics To Offer Custom Cannabis Strains Tailored For Desired Physiological Effects
January 04, 2018
Through Natural Breeding, Further Enhancing One Of The Largest Preclinical Databases In The Industry
Empowering MYDX360 Brands to Further Improve The Stability and Consistency of the Customized Genetic Strains that will Power their Future Product Lines
SAN DIEGO, Jan. 4, 2018 /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 it has agreed on terms and entered into a Letter of Intent to partner with Highsmen Genetics to form a new Exclusive Joint Venture. The technology behind Highsmen to develop stable customized genetic strains for certain effects is expected to help MYDX360 customers realize additional brand loyalty through end-user input in the MyDx App that will now influence the flower breeding programs that power the product lines they are consuming.
"Imagine there was a technology to create a custom cannabis flower that is highly effective to treat lower back pain, anxiety, or sleep disorders. That's what we're working towards," stated Daniel Yazbeck, CEO of MyDx. "We are very excited to exclusively partner with the Highsmen team because we believe their unique approach to genetic profiling through stable breeding will help us achieve this goal as MyDx continues to grow one of the largest preclinical databases in the world that ties cannabis chemistry to end user feedback," concluded Mr. Yazbeck.
"Our partnership allows us to define genetics exclusive for each client, gain direct patient consumer feedback towards that strains profile and build a layer of trust that you can have the same consistent experience each time you consume cannabis," stated Joe Floyd, Founder and President of Highsmen Genetics. "It also opens the door for known personalities, athletes and those who may be cautious to step in the cannabis space a safe way to brand their own strain and distribute it directly into the cannabis market," concluded Mr. Floyd.
Exclusive Collaboration Structure
MYDX and HIGHSMEN have agreed to enter into a 50:50 Exclusive Joint Venture where the HIGHSMEN Genetics Technology will be offered exclusively to MYDX360 customers. Access will be limited and initial MYDX360 customers will be offered the service on a first come basis.
Initially, Highsmen and MyDx will focus on producing a stable 1:1 THC to CBD genetic line developed by HIGHSMEN. The goal is to be able to produce a custom flower strain with custom cannabinoids and terpenes that can be tailored for specific end use applications, such as sleep or pain relief, which will power natural products developed and offered to MyDx360 customers.
MyDx will continue the breeding program with HIGHSMEN with the goal of creating a custom flower strain for every physiological effect MyDx and its MyDx360 customers are seeking for their respective markets, backed by customer feedback via the MyDx App. MyDx360 customers are also expected to be able to leverage the combined networks of licensed producers and manufacturers to produce the necessary volumes of customized flower at more cost efficient prices.
Additionally, MyDx will equip HIGHSMEN with the CannaDx handheld analyzer and tracking App in order to catalog the genetic lines, strain lineage, input from consumers, and chemical makeup that function within the breeding program.
MyDx360 customers are expected to able to utilize this service in products as soon as the first quarter of 2018 with custom flower being deployed as early the second quarter of 2018.
HIGHSMEN's Natural Breeding vs GW Pharma Genetic Modification Approach
The technology behind the natural breeding process at HIGHSMEN begins with Genetic profiling, where customers define the traits desired for the custom strain flower they are breeding for. If a client suffers from insomnia, the cannabinoid and terpene profile of the cannabis flower that will relief that symptom must have a certain chemical makeup to achieve that desired effect. In an extremely simplified example, one can cross a high THC strain with a high CBD strain to potentially create a 1:1 THC to CBD producing product. This is in contract with the GW Pharmaceutical approach, where they genetically modify the DNA of a certain strain in order to produce a CBD rich strain.
By understanding the genetic makeup of their male breeders, the HIGHSMEN breeding program is able to expedite the breeding process by stabilizing strains much more quickly and in turn defining a chemical profile with a more consistent outcome. Other traits that can be tailored in the program include yield, height, size, indoor vs outdoor centric strains as well as strains less prone to infestation.
Taking it one step further, by utilizing the MyDx crowdsourced feedback ecosystem and data that is collected from consumers to influence the breeding program, the Company believes it can apply trends obtained from the data to refine the breeding approach. The goal is to entice the patients to further input their experience in relation to their strain profiles now knowing that their input will affect the integrity of products they are consuming. That said, with the legalization of recreational cannabis in California now in full force, the science is quickly catching up with the legalization and there remains much development that needs to be done to achieve the Company objectives.
To learn more about the industry and MyDx, please visit www.meetmydx.com.
To learn more about MyDx360, please visit www.mydxlife.com/mydx360 or email MyDx customer service at info@mydxlife.com with any questions you might have.
To learn more about Highsmen Genetics, please visit www.highsmen.com.
About HIGHSMEN Genetics.
HIGHSMEN is recognized for their unique approach to cannabis breeding and an ongoing attempt to further stabilize each genetic line to provide a more consistent experience for the end consumer. Highsmen aims to produce consistent cannabinoid and terpene profiles through the understanding the importance of dominant and recessive traits when breeding new cannabis strains with strong male breeders. Highsmen currently offers catered cannabis strains and the HIGHSMEN breeding service called Strain In Your Name which will be now offered through MyDx360. HIGHSMEN's founder Joe Floyd has a history of breeding that goes back more than 10 years. In addition, Mr. Floyd has a strong data analytics, software engineering and user interface design background which was gained during a 15 year career in the video game software development industry at companies such as Microsoft Game Studios, Electronic Arts, SEGA of America and Telltale Games. To learn more, please visit www.highsmen.com.
info@mydxlife.com
MYDX-Superior.Court.of.California.Demurrer.Rulings & Recent PR's
http://www.sandiego.courts.ca.gov/v3tr/ViewRulings.aspx?CaseNo=37-2017-00026331-CU-BT-CTL&SelDates=02/02/2018&EventId=1902311
SUPERIOR COURT OF CALIFORNIA,
DEPT.: EVENT DATE: EVENT TIME:
HALL OF JUSTICE TENTATIVE RULINGS - February 01, 2018
02/02/2018 10:30:00 AM C-66
COUNTY OF SAN DIEGO
February
01, 2018
JUDICIAL OFFICER:Kenneth J Medel
CASE NO.:
CASE CATEGORY:
EVENT TYPE:
CASE TITLE:
CASE TYPE:Civil - Unlimited Business Tort
Demurrer / Motion to Strike
37-2017-00026331-CU-BT-CTL
CDX INC VS DEWALD [IMAGED]
CAUSAL DOCUMENT/DATE FILED: Demurrer, 12/21/2017
stolo
Defendant's Demurrer to the Fifth Cause of Action for Negligent Interference is OVERRULED. The FAC alleges that there was a number of economic relationships that existed between the Plaintiffs and third parties. FAC ¶¶ 34; 76-79. The FAC further alleges that Dewald was aware of these relationships and yet still failed to act with due care with regard to the relationship between the Plaintiffs and the third parties and was aware that a lack of due care would lead to economic harm to the Plaintiffs. FAC ¶ 83. A duty of care need not arise solely out of privity of contract or some higher standard of fiduciary duty, but defendants have a general duty to act like a reasonable person with regard to foreseeable risk to others. See Dillon v. Legg, 68 Cal.2d 728, 741 (1968). The FAC need not allege that Dewald was the fiduciary of the Plaintiffs.
Defendant's Demurrer to the Seventh Cause of Action based on Bus. &.Prof Code, § 17200 is OVERRULED. "Engagement in business" is interpreted very broadly and the FAC's allegation that the moving party is an "investor and stock trader" satisfies the element of § 17200 requiring that the defendant be engaged in a business practice.
As to "restitution", California Code of Civil Procedure ("CCP") 430.10(e) does not allow for a defendant to demurrer a remedy.
Defendant's Demurrer to the Eighth Cause of Action for Civil Extortion is OVERRULED. The litigation privilege would not necessarily cover extortion. The Court has held that a lawyer's demand letter can constitute extortion as a matter of law, when a threat to report the recipient to the authorities regarding an alleged crime is accompanied by a demand for payment. Flatley v. Mauro, 39 Cal. App. 4th 299, 328 (2006).
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MYDX CANCELS REVERSE STOCK SPLIT AND OTHER RECENT PR'S
http://www.prnewswire.co.uk/news-releases/mydx-cancels-reverse-stock-split-665429493.html
MyDx Cancels Reverse Stock Split
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.
Related Links
http://www.mydxlife.com
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https://ir.mydxlife.com/press-releases/detail/68/mydx-seeks-medical-device-designation-for-cannadx-and-the
Press Releases
Home / Investors / Press Releases
MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen
Download as PDF
December 14, 2017
Making MyDx Smart Devices More Affordable & Accessible for Canadian Cannabis Users
SAN DIEGO, Dec. 14, 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 it submitted an application and is seeking medical device designation in Canada for its CannaDxTM Handheld Tester and its ECOSmartPenTM in order to make its products more accessible to medicinal users seeking to track and manage their consumption habits and prevent abuse.
According to the Institute of Health Economics, under the Food and Drugs Act, medical devices have a broad definition that includes any item sold to diagnose, treat, mitigate, or prevent a disease, disorder or abnormal physical state, or any of their symptoms.
MyDx products will be used to track crowdsourced herbal medicine by our customers to treat various ailments as well as monitor and track consumption habits (a feature shared by both the ECOSmartPen and the CannaDx Handheld Tester) to promote public safety and accountability. It's easy to see how MyDx products can fit within the confines of that description and the company is confident in its ability to gain approval. Still, there can be no assurance that it will gain or be granted such certifications.
Increases Affordability & Accessibility to MyDx Products Country-wide
Recently, Loblaws, a large Canadian supermarket chain, extended coverage for medical marijuana to its ~45,000 employees under policies managed by Manulife and Great-West Life. With a medical device classification, medicinal users would be able to seek reimbursement from their insurance providers for their MyDx devices, significantly lowering the overall cost to patients.
With the advent of new Health Canada Regulations in 2015, following the Supreme Court's ruling that users of medical marijuana should be permitted to consume the product in more varied forms than smoking dried buds, the demand for insurers to cover medical marijuana under benefit plans has increased exponentially according to a report done by Miller Thompson LLP. As a result, the country is beginning to see a shift in its healthcare landscape, which is becoming more marijuana friendly.
"Our goal is enable a more personalized medical experience for every patient by ensuring everyone has access to our smart devices and crowdsourced formulations," said Daniel Yazbeck, CEO of MyDx. "Our products are used all over the world today to help people Trust & Verify® their cannabis and to monitor and track their consumption habits."
Entry level MyDx Handheld Testers currently retail for $699 (plus tax & shipping). The EcoSmartPen is projected to be shipped in the first quarter of next year and the company is currently taking pre-orders on its website at www.mydxlife.com/ecosmartpen.
To learn more about the industry and MyDx, please visit www.meetmydx.com.
ANOTHER POST:-----------------------------------------------------------
This is.the.beginning of.something.huge. I.was.hoping in my lifetime something like this would happen with MYDX and it could happen in 5 years or less!
Ok, months back(references to follow) I suggested how human Genomics are important because it is what MYDX has been saying all along, that each individual physiology is unique and so is how each physiology reacts to same cannabis strain. Phylos fits in perfect with the concept of cross referencing CannaDX sample test data with Phylos cannabis Genomics and now a feeling can be associated with a degree of accuracy to a specific cannabis genome, so now, the individual, not even knowing his/own gene sequence can identify with a specific cannabis plant for a specific ailment relief.
This cross-referencing of data makes each entity(Phylos and MYDX) codependent for generating even more meaningful data to offer the market place. This is the next step in the ultimate cost-effective human/cannabis genome project for medicinal purposes.
I’m not sure what he next step after this would be but eventually, hopefully in my lifetime as well MYDX will be involved in cross-referencing individual Genomics with cannabis Genomics where the individual would know with absolute certainty based on historical data what cannabis product to purchase to remedy a specific ailment or to provide a wanted reaction.
“Phylos uses genome sequencing technology to generate DNA “barcodes” that uniquely identify cannabis varieties. This information is important for basic scientific research, and it also serves as proof of existence that can be used to defend against attempts at patenting.”
http://www.phylosbioscience.com/about/data-policy/
Perhaps this can be used to fight of GW attempts at CBD patenting.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133208585
“Last year, the China Food and Drug Administration approved the sequencer as a medical device, allowing its use in clinical genetic testing...”
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132234994
http://www.prnewswire.com/news-releases/pharma-and-biotech-companies-significantly-investing-in-rd-focus-on-rising-demand-for-advanced-medicines-628164013.html Wow, according to this, est. 50Billion dollars is used by these companies alone are using on R&D investments specifically in "advanced medicine" alone:
"In just over a year ago, it's been estimated $50 billion was invested on pharmaceutical Research and Development activities majorly on oncology, diabetes, and autoimmune therapy classes, which is expected to propel the biotechnology services outsourcing market growth. Biotechnology and Pharmaceutical Companies with developments and recent market activity this week include: Moleculin Biotech, Inc., (NASDAQ: MBRX), XBiotech Inc. (NASDAQ: XBIT), GTx, Inc. (NASDAQ: GTXI), Agenus Inc. (NASDAQ: AGEN) and TrovaGene Inc. (NASDAQ: TROV)"
How many of these companies are applying research to the use of medicinal cannabis in the rising medicinal cannabis market? They are clearly focusing their attention on non-cannabis markets and will go through MYDX when the time is right for them which is most likely when medicinal cannabis is legal at the federal level. The more years, the more they will have to pay for all of MYDX's R&D investments in advanced medicinal cannabis vape pen. What effect will this have on current MYDX investors?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132627843
MYDX is the solution to an EXPOSED PROBLEM: unsafe black market weed. Before it was just black market weed, this by itself is not effective for MYDX but now that it's UNREGULATED HARMFUL BLACK MARKET WEED, the only chance consumers have of not being harmed by illegal unregulated weed is the MYDX CannaDX chemical analyzer with proven successful results! Once MYDX becomes PREMIER HOUSEHOLD CANNABIS QUALITY CONTROL backed by consumers and consumer confidence, what other companies will be around to compete? What direct competition does MYDX have?
MYDX major reasons why MYDX data is so valuable (followed by reference link):
"However, as MyDx began to analyze the data it accumulated from its testing devices, a much darker picture appeared - you cannot trust what dispensaries sell you."
"Today, if you were to go into any dispensary and ask for "Blue Dream", what do you think you would get? Would you get "Blue Dream"?
According to MyDx data, the answer is unequivocally NO!
Unfortunately, not all Blue Dreams are created equal, unveiling the biggest lie in cannabis. Whereas consumer products outside of cannabis enjoy a higher level of consistency and reliability brought on by stricter enforcement of consumer laws, the same cannot be said about the cannabis industry."
"Fortunately for MyDx users, brand names take a back seat to chemical profiles as MyDx tracks data based on sensory responses, interpreted chemical profiles, and an associated feeling or relief. So while you can't trust the brand name you purchase, you can Trust and Verify® chemical profiles and track how those profiles make you feel using MyDx, which has created another opportunity: green Active Pharmaceuticals Ingredients (gAPI)
"I believe extraction and formulation into a concentrate that can be delivered consistently to help patients find relief for their ailments and symptoms is the next logical step to achieving some level of consistency in the industry," stated Daniel Yazbeck, Chief Executive Officer of MyDx."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
MYDX Why gAPI is so valuable (link reference to follow):
"...we are now identifying the specific green Active Pharmaceutical Ingredients (gAPI) that can be derived from cannabis, as well as the dosage of each ingredient that should go into a formulation so it can be tailored for a specific therapy. This information not only supports an active engaged community, but also provides the basis for our Company to partner, sell and supply smart devices and formulations to the various communities we service so they can benefit from tailored cannabis therapies that meet their specific needs."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
MYDX is HIPPA compliant, important? You be the judge after considering the following (reference links to follow):
"We are finally getting to the heart of what ailments people are tracking and more importantly, what unique chemicals profiles are helping them find relief," stated Yazbeck. "By mining this HIPPA Compliant Data, we are now identifying the specific green Active Pharmaceutical Ingredients (gAPI) that can be derived from cannabis, as well as the dosage of each ingredient that should go into a formulation so it can be tailored for a specific therapy."
http://ir.cdxlife.com/press-releases/detail/59/a-problematic-truth-and-a-solution-in-the-making
Is HIPPA compliance important (reference link to follow)?
"When dealing with patient ePHI, having a HIPAA compliant provider offers practitioners multiple benefits and peace of mind against impending audits."
http://blog.corespace.com/the-benefits-of-a-hipaa-compliant-provider
Is this product helping consumers determine whether or not they want to smoke a certain strain of cannabis before they smoke it? Is this product helping consumers communicate with MYDX verification that a certain strain could have a certain effect for someone interested in similar results as research before they invest in a cannabis purchase? The answer to these quintessential questions is undoubtedly YES and this is what I love about MYDX and what it is doing for consumers through CannaDX. Big deal if someone tells me a certain strain works for them, I want to be able to test it for myself. MYDX will allow me to test a strain I've had that made me feel sick and caused vomiting and dizziness. I love that I will be able to test what strain that was so I know through the "trust and verify" process that I will never put that strain in my body ever again! This is just cannabis, MYDX is so much more but what it accomplishes is exactly what it set out to do from day one and that is allow consumers the opportunity to "trust and verify" something before they expose it to their bodies, and as far as AeroDX, I believe, there will be sensors you can place in a room that will monitor the air so that before someone enters it, they will be able to know if the air is toxic. For sure, if a room's air is toxic after you enter it, AeroDX will let you know. If someone hates this product or company, it can't be for these reasons, so that's what I will never understand about people who say they hate this company and products. I'm not going to ask questions leading to the conclusion that people involved in companies such as big pharma just don't want MYDX to succeed because it is a threat to their market share in their industry.
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