L2 appears as though the price is being held down by VFIN's iceberg, yet there is very powerful support just one pip below. So, the price has been very stable lately under larger than average daily volume. There was even 41million shares($120k+) on the bid briefly the other day during power hour but that buyer has since been more conservative with a bid at around 6-8mil. Definitely accumulating though.
The company recently signed on to quite a few partnerships with verifiably successful California MJ companies. GanjaGold, Highsmen, Humanity Holdings/Products/Medicine, and Phylos Biosciences.
Here's a little detail on each partnership:
Humanity holds legit California Distribution and Manufacturing licenses and Humanity's President holds at least six different California MJ licenses.
Distribution: Humanity Products Inc. License M11-18-0000267-TEMP: Medicinal - Distributor Temporary License Record Status: Active Expiration Date: 07/12/2018
Manufacturing: Humanity Products Inc. M-Type 6 CDPH-T00000157 San Diego San Diego 7/28/2018
Humanity's President already sells Ganja Gold products through his dispensaries in San Diego. Above and beyond that though, Ganja Gold is currently selling it's products in more than 100 dispensaries across California.
MYDX and GanjaGold are close to consummating a Joint Venture and Acquisition in which they will each end up owning 50% of "NewCo".
"The intent is for the Parties to manufacture and distribute a new premium line of physiological based Vape formulations under Ganja Gold Vape Brand (“GGV”)."
Highsmen Genetics is partnered with both MYDX and Phylos Biosciences.
MYDX and Phylos Biosciences entered into a License, Co-Marketing, and Data Sharing Agreement. Phylos is actually an Oregon based company, but they have spread coast to coast now.
MYDX has a pending product release for the ECOSmart Pen, which is a vape device with Bluetooth connectivity, child safety lock, dosage monitoring and scheduling, chemical profiling, and more.
MYDX has a $29million lawsuit filed from last year that is against a previous executive and some other undesirables. There are already settlement talks taking place, but I'm not personally taking any of that stuff into account in regards to how the stock will perform. I just thought I'd mention it.
Most recently, the CEO just converted some preferred shares into common stock, resulting in him owning just a bit more than half of the now relatively doubled OS. Even though the OS technically doubled, the CEO's shares are restricted as can be seen on OTC Markets. So, the actual number of unrestricted shares remains unchanged at around 1.9Billion.
It seems likely that the conversion was done in lieu of the pending Joint Venture/Acquisition with GanjaGold, but if you think there may be a more likely reason, then I'm all ears.
Oh, also, on April 24th, they just appointed Dr. Heiner Driesmann, former CEO of Roche Molecular Systems and Diagnostics, as the Chairman of the Executive Advisory Board:
"Dreismann currently serves as Chairman of the Executive Advisory Board for MYDX[3], and interim CEO of Toronto-based GeneNews corporation. Additionally, he serves on the boards of a number of high-technology companies, including Singulex,[4] Myriad Genetics, MedBioGene,[5] Magellan Biosciences[6] et al."
Daily chart has bottomed out IMO and the weekly chart looks like it wants to reach up and flip the PSAR soon, but that's just a hunch.
So, that's most of it but if there's any other info you're curious about, just ask. The company has a lot going on, so I'm sure I may have missed some things.
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