#MYDX #CANNABISGROUP:::: MYDX SHAREHOLDERS precisely and concisely what has been going ON...… SOUND LIKE THEY HAVE BEEN ALSO USING THIS PLATFORM
(WHO IS BEHIND THE Alersense) and why are the DEFENDING this crap??.....
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MyDx Files Complaint Against Former Chief Operating Officer, Protects Unique AeroDx Diagnostic Platform And Addresses Toxic Financier's Unauthorized Conversion
Published: Jul 18, 2017
SAN DIEGO, July 18, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB:MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer initially designed for cannabis professionals and retail consumers to measure the chemicals in cannabis and track their feedback on how each sample is impacting their physiology, today announced that all previously reported variable toxic debts have been satisfied through the unauthorized conversion of the Crown Bridge note and has also filed a lawsuit against its former COO and other defendants who have attempted to create a competitive advantage with its anticipated product launch of its air quality sensor: AeroDx®.
Lawsuit to Protect Unique AeroDx Diagnostic Platform
On July 14, 2017, the Company and its Chief Executive Officer, Daniel Yazbeck, filed a complaint in Superior Court of California against a series of Defendants who have allegedly engaged in unfair business practices, made false statements about the Company, its products, and Mr. Yazbeck at investor events and on online investor platforms. There can be no assurance about the results or on the outcome of the lawsuit, however, the company took aggressive steps it felt were necessary to protect its business and its shareholders.
AeroDx®: MyDx's Air Quality Sensor
AeroDx Sensors are the first of three anticipated versatile sensors to be launched into the market and represents the first versatile sensor to be used with the new release of the MyDx 2.0 Analyzer launched in May of this year. AeroDx is expected to measure key air quality parameters for cannabis and non-cannabis consumers, to be interchanged seamlessly with the CannaDx Sensors. Once AeroDx Sensors are inserted into the MyDx Device, the device becomes an air quality tester with the ability to detect Volatile Organic Compounds (VOC's) such as Formaldehyde, Butane, Toluene, Methane, Benzene and other harmful chemicals, such as Carbon Dioxide, present in the air. It can also monitor temperature and humidity, which can aid in preventing mold and germ growth. The company is also in the process of customizing the sensor in order to ensure air quality and control in cannabis growth facilities as well offer a test for residual solvents in cannabis oils.
Addressing Remaining Toxic Variable Convertible Debt on Balance Sheet
On April 30, 2017, the Company sent a payoff demand to Crown Bridge Partners, LLC as required under the terms of the loan Agreement. The Company agreed to repay, in full, the remaining variable toxic convertible note on its balance sheet prior to the prepayment deadline. Crown Bridge acknowledged the request and despite the Company and its counsel's repeated payoff request, on July 3, 2017, Crown converted $36,749.04 (the entire amount due pursuant to the Note, including penalties and interest) into 14,699,616 shares of the Company's common stock. In light of the Company's notification and Crown Bridge's acknowledgment required under the terms of the loan Agreements, Crown Bridge executed the conversion and the Company alleges it breached the terms of the Note. The Company will continue to evaluate its rights and determine the best course of action to advance the interests of its shareholders.
[color=red][/color]As of July 17, 2017, all previously reported variable rate toxic financing has been fully paid off.
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