MyDx Inc. (fka MYDX)

[Bed Bath & Beyonce]

Didn't know that bc an agreement is done means they produced nothing. lol wow. Re-read that agreement.

I did read the agreement, it was a LICENSING agreement, not a manufacturing agreement. The licensing agreement, and the termination of it, has been posted here several times. One more time I guess....

This first passage is from the MYDX 10-Q on May 22, 2017. (bolding added)....

On February 8, 2017, MyDx, Inc. entered into an option agreement (the “Option Agreement’) with the Torque Research & Development, Inc. (“TRD”). The Option Agreement provides MyDx with the exclusive right to license two patent pending inventions (the “TRD Inventions”), and requires MyDx to make annual payments to TRD as well as royalty payments on any products that are commercialized which are based on the TRD Inventions. MyDx’s rights under the Option Agreement require customary measures of performance on the part of MyDx in terms of patent cost maintenance and other payments of costs associated with the TRD Inventions. With respect to the Option Agreement, MyDx rights are broad in terms of the potential access MyDx has to use the TRD Inventions in products, and services and many of the key economic terms of a future license, should MyDx exercise its rights under the Option Agreement, are agreed to in the Option Agreement.

In addition to the Option Agreement with the TRD, on February 8, 2017, MyDx has entered into a research and development agreement (the “RD Agreement”) with TRD for the Project titled “Manufacturable, Medical Grade Smart Vape Devices and Related Medical Software Applications for Prescribers, Administrators and Patient Applications.” The RD Agreement allows MyDx to fund research based on the TRD Inventions with a three year budget of $280,371 and a deferred payment of $75,000 within ninety days of the Effective Date. The RD Agreement provides MyDx with an exclusive right to license all technology that is discovered from the monies funded to TRD through the RD Agreement (the “Derivative IP”). To the extent that MyDx exercises its rights under the RD Agreement, MyDx will be required to make customary annual payments to TRD, who shall be the owners of any Derivative IP, as well as royalty payments as any commercialization of such Derivative IP occurs. TRD may elect to accept payment in whole or in part in cash or the companies restricted common stock priced at the Effective Date.

Okay, see there....that's the vape pen right there.....LICENSING OF THE PEN. That's the agreement for THE PEN. LICENSING OF THE PEN.....FEBRUARY 8, 2017 agreement....PEN....LICENSING.

From the November 20, 2018 MYDX 10-Q (again, bolding added)....

On July 30, 2018, the Company entered into a Settlement Agreement and Mutual Release with Torque Research & Development, Inc. (the “TRD Settlement”). Pursuant to the TRD Settlement, the parties agreed to terminate the February 8, 2017 Research & Development Agreement and the February 8, 2017 Exclusive License Agreement. In return for a full release by Torque Research & Development, Inc. (“TRD”), the Company issued 45,355 shares of Series B Preferred Stock to TRD. The Company also agreed to issue a warrant giving the holder the right to purchase seven and one half percent (7.5%) of the Company’s shares of common stock issued and outstanding at the time of exercise and having an exercise price of $0.001 per share. This form of warrant is referred to herein as the “7.5% Warrant.” The 7.5% Warrant issued to TRD has an expiration date of August 1, 2022.

See that? MYDX terminated the deal that gave it the vape pen. Terminated, meaning the company does not have rights to it anymore, license gone....poof, gonzo, buh-bye.

Anything that was produced is the property of MYDX. why would they need an agreement to make something they already made... SMH.

MYDX can make all of the vape pens by TRD specs all they want....the company can't SELL them, as they have no right to....remember, MYDX terminated the agreement for the license to the pen.

Tricky wording works both ways. Now MYDX has upper hand.

Huh?