MYDX 2018: Medical Device Designation, Canada and
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Posted On: 01/02/2018 8:17:32 AM
MYDX 2018: Medical Device Designation, Canada and US Markets, QoQ Revenue Increases, No RS, Product Releases and New Patents, Good Share Structure, Media Coverage
https://ir.mydxlife.com/
https://twitter.com/MyDxLife
https://ir.mydxlife.com/press-releases
www.meetmydx.com.
January, 2nd 2018 California permits legal recreational marijuana sales:
http://www.nj.com/marijuana/2017/12/weed_goes...rogra.html
http://www.cnn.com/2018/01/01/us/california-m...index.html
MyDx Cancels Reverse Stock Split; Allows the Free Market to Take Its Course to Determine the Company Valuation
http://www.prnewswire.co.uk/news-releases/myd...29493.html
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.
MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen
Making MyDx Smart Devices More Affordable & Accessible for Canadian Cannabis Users
https://ir.mydxlife.com/press-releases/detail...dx-and-the
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.
About MyDx, Inc.
MyDx, Inc. (OTC:MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company's first product, MyDx®, also known as "My Diagnostic", is a patented multiuse hand-held chemical analyzer designed to help consumers and professional test for pesticides in food, chemicals in water, toxins in the air, and the safety and potency of cannabis samples, which is the initial focus of through the CannaDxTM application. CannaDx users have submitted over 40,000 crowdsourced datapoints revealing the chemical profile of the cannabis they are consuming and how its making them feel which feeds a data analytics platform, a SaaS business, as well as the biopharmaceutical division of MyDx. The company is committed to addressing areas of critical national need to promote public safety, transparency and regulation in the various markets we serve and hence its more immediate mission is to continue to develop smart devices as part of an ecosystem that crowdsources consumer generated preclinical data to drive innovation in the cannabis industry. For more information, please visit www.mydxlife.com.
MyDx Files Patents & Is Now Accepting Preorders For The ECOSmartPen™The Industry's First Child-Protected, Delivery Device Capable of Tracking Dosages
https://seekingalpha.com/pr/17012007-mydx-fil...cosmartpen
SAN DIEGO , Nov. 28, 2017 /PRNewswire/ -- MyDx, Inc. (OTC: MYDX(MYDX)), a science and technology company and creator of MyDx(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 filed patents on its revolutionary, second smart device – The ECOSmartPenTM – and is now accepting Pre-Orders.
The ECO Smart PenTM by MyDx(MYDX)is a next generation, rechargeable delivery pen with Bluetooth technology capable of monitoring dosages and consumer feedback. The ECO Smart Pen also comes equipped with remote access and child safety protection via the EcoSmartPen App and is designed to help patients and consumers better manage and regulate their cannabis consumption habits, while protecting their children from unsupervised use.
A Game-Changing Innovation That Helps to Raise the Standard of Safety in Cannabis
MyDx's (MYDX) patents cover the delivery pen's child-safety locks, dosage control and tracking and related technologies unique to the next-generation delivery pen that monitors how many doses or "puffs" it takes for strains/formulas to take effect per individual – personalized medicine. This information is stored passively or actively, depending on the user, and is complimentary to the MyDx(MYDX) ecosystem, which includes its testing devices, software and services.
Since late 2015, MyDx(MYDX) has worked diligently to help consumers better understand what they put into their bodies and empower them to take charge of their marijuana consumption habits. Its handheld tester is used all over the world to identify and track how those strains impact its users. Approaching 3,000 testers in circulation, MyDx(MYDX) has built, and continues to build upon, a comprehensive database of user and consumption information that is now being used to drive policy; educate and inform industry stakeholders such as doctors, consumers, entrepreneurs, and politicians; and, promote a higher level of public safety and concern.
MyDx (MYDX) is the only company in the world that actively tracks and analyzes (in real time) how strains impact consumers and alleviate ailments. While this is important to the legitimacy of the industry, given the current lack of oversight, it's also a public safety concern. That's when it occurred to the MyDx Team that more needed to be done, especially for those with debilitating ailments.
"Today, doctors only offer prescriptions for medicinal marijuana, generally. They don't provide any recommendations on what to use and when and how to use it. And that's a public safety problem. We know from our data that not all cannabis is the same (not even the names), which is why our customers use our handheld testers. But the one piece of data we didn't have was knowing how much of a certain chemical profile it took to achieve its desired effect. Hence the creation of the ECO Smart Pen," said Daniel Yazbeck, CEO of MyDx(MYDX). "We will not only offer patients a way to Trust & Verify® their products, but, with the ECO Smart Pen, they will be able to determine for themselves how much they need to consume to achieve their desired effect. In combination with MyDx360, doctors and administrators will also be able to better monitor their patient's habits and offer more targeted prescriptions."
Lack of Industry Research
Despite the rising tide of marijuana legalization sweeping across North America, research still lags reform, which is counter to how, generally, research informs reform. Moreover, according to KPMG's report on Improving Medical Marijuana Management in Canada, "the quality of clinical data has been inconsistent and there are significant gaps in understanding of the therapeutic efficacy for many conditions." Consequently, the industry is moving forward without complete regard to patient and public safety and that's a problem for consumers, especially those using marijuana to address specific ailments. With the addition of the ECO Smart Pen to the MyDx Ecosystem, MyDx(MYDX) will capture and house the most comprehensive dataset of marijuana consumption in the world. This new data will then inform the company's foray into identifying green active biopharmaceuticals (gAPI).
How the ECO Smart Pen Works
Passive Monitoring: The ECO Smart PenTM immediately activates the MyDx App via bluetooth as soon as you inhale from any compatible brand cartridge. Once the brand information is submitted, the pen will then passively monitor your consumption habits, such as frequency of use since purchase as well as dosage.
Active Monitoring: Once you begin using the product, you'll be able to actively track which ailments the product relieved and/or feelings it generated and how many doses it took to generate those feelings and/or reliefs.
Software As A Service (SAAS)
Manufacturers, Doctors and the like will be able to use MyDx Software on a private label basis to monitor and manage their respective user groups under a subscription-based model, which will be tiered for varying levels of access to user data and analytics.
Key Features
• Bluetooth Connectivity
• Behavioral/Dose Controls
• Mobile-App Control (local or remote)
• Usage Analytics
• Data/Cloud Storage
• Child-Safety Controls
To learn more or Pre-Order the ECOSmartPenTM, please visit www.mydxlife.com/ecosmartpen
MyDx Featured by Canadian Tier 1 Business News Network (BNN), Toronto Life Magazine, and Global News
http://www.otcmarkets.com/stock/MYDX/news/MyD...24&b=y
SAN DIEGO, Aug. 29, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announced that it was recently featured by Canadian Tier 1 Media Outlets including Business News Network (BNN), Toronto Life Magazine, and Global News.
CEO Daniel Yazbeck will also be speaking on a panel at MJAC2017 InvestorsHub International Cannabis Conference entitled "Investing in the Picks and Shovels of the Industry" at 12:00 p.m. Pacific Time on Saturday September 2nd at the JW Marriott Los Angeles.
MyDx Reports Second Quarter Results
Company Reports Significant Increase in Gross Profit Margins and Decrease in Liabilities with Gains Leading to Positive Net Income for the Quarter
http://www.otcmarkets.com/stock/MYDX/news/MyD...57&b=y
SAN DIEGO, Aug. 21, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announces its 2Q 2017 results and management analysis.
Financial Results
CannaDx Product Revenue increased to ~$126K in Q2 2017, up ~47% from Q1 2017
MyDx sold out of its signature handheld analyzer in Q1 on stronger than expected demand leading to a backlog of orders and customer deposits that are were filled in Q2.
The Company expects to continue to receive consistent growing demand for its analyzer based on word of mouth and referrals mainly as well as a new marketing initiatives the company launched late June which is generating new customer awareness and product orders from Canada. The company will focus on deploying the EcoSmartPenTM in the second half of this year as well as expand its customer base for the MyDx360 SAAS service beyond the initial BlackSwan/i+Huntr brand agreement which was not recognized as revenue in this quarter.
Gross profit margins as a percentage of net revenues increased to 78% in Q2, a greater than 32% increase from the same period last year, the highest product margins in company history
The gross product margin was improved by an increase in MyDx Grower Packages sold for $899 on our online store, which yield a higher profit margin compared to the standard $699 retail package and a much higher margin compared to units sold through our distribution channels. Any anticipated future revenue from the company's software licensing and services are expected to have a further positive impact on the overall gross profit margins
Research and Development Expenses decrease 81% with new accelerated product development approach
For the three months ended June 30, 2017, the Company expended $27,724 for various research and development projects for hardware, database, software and sensor development as compared to $145,885 for the three months ended June 30, 2016. The decrease of $118,161, or 81%, resulted primarily from the Company taking a more economical and streamlined outsourcing approach to developing new products (such as the Eco Smart PenTM, MyDx360TM, AeroDx®).
The company is taking the same approach to launch its next generation of CannaDxTM, AquaDx® and OrganaDx® products.
For the first time in company history, the company has generated a Net Positive Income as a direct result of a decrease in liabilities and gains generated through other income
The Company incurred net income of $2,967,808 compared to a Net Loss of $(936,665) for the three months ended June 30, 2017 and 2016, respectively. The increase in net income resulted primarily from the decrease of interest expense related to the convertible notes payable, an increase in a gain on fair value of derivative liability, a gain on settlement of debt, and a gain of $135,000 on the forfeiture a technology transfer deposit. These were offset by an increase in derivative expense.
New Product Offering Operating Results
The company updated its CannaDx product webpage (www.mydxlife.com) and launched a Marketing Campaign in Canada which is already yielding new sales from customers in Canada.
The company closed its first big customer under its newly created MyDx360 SaaS Licensing and Services platform with an ~$80K agreement signed in Q2 with BlackSwan.
The company spent a lot of product development time and focus on the creation of the MyDx ECOSmart PenTM, a Bluetooth enabled delivery vaporizer pen capable of actively and passively tracking consumption habits as well as other unique features to be announced, and is on track to deploy this product in the second half of this year.
MyDx Enters Into An ~$80,000 MyDx360 SaaS Licensing And Services Agreement With Retailer BlackSwan; BlackSwan enters the Delivery Pen and Supplements Markets with I+huntr Brand, Tailored for Performance Athletes, Powered by MyDx360
http://www.otcmarkets.com/stock/MYDX/news/MyD...21&b=y
SAN DIEGO, June 19, 2017 /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 they report it alleviates, today announced a definitive agreement with BlackSwan, a developer and retailer of custom vaporizers, to provide a community engagement software platform to support its new product development initiatives under the terms of MyDx360.
Licensing Agreement Provides for Branding on Multiple Delivery Mechanisms
As part of the MyDx360 agreement, BlackSwan chose from one of MyDx's base chemical formulations that best alleviated pain and inflammation according to the MyDx community. From there, MyDx software enabled BlackSwan to "boost" that formula by changing various cannabinoid and terpene parameters as well as other natural organic terpenes to come to a final formula uniquely formulated by BlackSwan.
"This uniquely positions MyDx at the center of a revolution in how therapies are developed utilizing chemicals found in cannabis and other naturally occurring plants. The MyDx360 platform makes it incredibly easy for market players to create new high quality tailored formulations that can support their customer's needs. It also speaks to our ability as a company to execute on our vision of creating a brand centric ecosystem powered by community driven data. We look forward to supporting BlackSwan and the development of the I+huntr brand personalized for high performance athletes and powered by MyDx360," said Daniel Yazbeck, CEO of MyDx.
MyDx will continue to work with BlackSwan to support the development of new formulations, which will be manufactured in the form of concentrates via state licensed suppliers, and then delivered via MyDx's hardware, the ECO Smart Pen, and supplements tailored to performance athletes. Once products have been delivered via MyDx's manufacturing partnerships, the MyDx App will provide customer-engagement support to acquire and analyze user feedback.
The MyDx White Paper: A practical review of the cannabis testing industry
https://drive.google.com/file/d/0B7B53DOpun05...&pli=1
MyDx featured on HBO's Daily News:
https://youtu.be/Miv2vHbvdSY
Share Structure a/o Dec, 2017:
Authorized Shares 10,000,000,000
Outstanding Shares 1,809,028,964
Float 1,535,318,771
EINPresswire: MYDX, the best medical marijuana stock to buy in 2017
http://newjersey.news12.com/story/35699120/th...uy-in-2017
NEW YORK, NEW YORK, UNITED STATES, June 19, 2017 /EINPresswire.com/ Are you waiting to identify the next big game changer in your investment plan? Have you considered getting high on marijuana penny stocks? Investing in medical marijuana penny stocks is the latest craze around Wall Street.
But the question is what are medical marijuana penny stocks? Well, they are all plays on the hitherto forbidden drug, marijuana. The US Government in March 2017 legalized the use of recreational marijuana in eight states, and in 28 states in all, use of marijuana for the medicinal purpose was made legal.
The decision instantly led to a spike in the number of business ventures based primarily on marijuana. From the actual growers to products based on marijuana to pharma companies using it, the list just continues. Needless to mention then marijuana found a way into the stock markets too. The medical marijuana penny stocks are indeed the flavor of 2017.
Should You Invest in Medical Marijuana Penny Stocks?
The question is how wise it is to buy medical marijuana penny stocks and most importantly how do you decide which medical marijuana penny stocks to buy? Here is a quick lowdown on the best medical marijuana penny stocks to buy in 2017 and how wise it is to invest in these counters. But before that, it is important to understand the business fundamentals of these medical marijuana penny stocks and the risk they embody. After all, you must understand though the use of medical marijuana has been legalized, it is treading into gray zone no doubt. Moreover, political, economic and social factors are also key matters of concern in this matter.
You do not have any major or established player in this field. Most of the medical marijuana stocks that are available in the market are penny stocks. The average share value is less than $1. You do not have companies valued more than $100 million and thanks to them trading mostly in Over-The-Counter and Pink Sheet segments, there is barely any regulation managing them.
Even the other prominent public players have significantly small or no stake in these medical marijuana penny stocks. But does it mean that you should absolutely avoid them? Well, think about how thegoldmining business was in the 19th century? Did you even consider gold becoming one of the biggest international benchmark and hedge it is now? Or think about the way we considered software stocks way back in the 1970s. Who would have thought about the technology boom?
This makes your decision to invest in medical marijuana penny stocks even more difficult is the unabated growth that the sector is experiencing. In fact, legal marijuana sales in the US, as per some recent studies, has risen a phenomenal 36% to close to $7 billion by the end of 2016. The estimates indicate that legal cannabis sales could actually breach the $50 billion mark in another 10 years by 2026. Therefore it becomes very important to choose wisely to get the best medical marijuana penny stocks to buy in 2017.
What Are the Best Medical Marijuana Penny Stocks to Buy in 2017?
In the list of what medical marijuana penny stocks to buy, here are some of the top contenders:
1. MYDX, the ever growing and first company to produce the first battery operated handheld for consumers has opened stock for investors. Investing in stocks is one of the fastest ways to maximize your returns. It is common for investors to grow rich overnight with stock market investments. MYDX is no exception. Leverage on this investment choice without taking on too many risks. MyDx stocks is the right company to invest with.
About MYDX
MyDx, Inc. is a science and technology inclined company that is based in San Diego, California. It created MyDx which is the first battery operated, patented, handheld, electronic analyzer for consumers. The company’s mission is to empower people to live a healthier life by revealing the chemicals in what they eat, drink and inhale. This will both help to improve the health of consumers and to protect the environment. MyDx uses nanotechnology to accurately measure chemicals of interest and has multiple sensors being developed in its lab that are compatible with the MyDx App.
The financial health and prospect of MYDX is unbeatable. To enjoy best returns it is advisable to invest in good companies. You can determine a company's quality by its financial health and record of accomplishment with customers and investors alike. For you to keep earning returns the company should continue to perform well in the future too.
Why buy shares of MYDX
MyDx is not a new company; it has survived all the rigors that many of its peers did not survive. MyDx has come to stay; this is a fact due to the services it provides. MyDx help to make the consumer healthy by revealing the purity in what we eat and drink. Services like these are never saturated as the world is currently affected with several impurities, in food, drink and even the air we breathe.
Hear what Daniel Yazbeck CEO of MyDx has to say, “We are in the process of positioning the company for long-term stability and growth and we are very excited about our prospect”
About Daniel Yazbeck
Daniel Yazbeck is the founder, seed investor and creator of the MyDx Analyzer. Daniel has worked with Fortune 500 for 15 years. He has worked with the popular Pfizer Pharmaceuticals as a scientist. He specialized in Chemical Research and Development technologies. He has also worked as an Engineer and Strategic Market Developer for Panasonic. He has always been working to ensure consumer protection.
Mr. Yazbeck has been a Cashflow Investor for over 10 years, holds a Master of Science degree in Medicinal Chemistry from McGill University, a minor in Marketing, and is a co-Author on several world patents and research publications.
https://ir.mydxlife.com/
https://twitter.com/MyDxLife
https://ir.mydxlife.com/press-releases
www.meetmydx.com.
January, 2nd 2018 California permits legal recreational marijuana sales:
http://www.nj.com/marijuana/2017/12/weed_goes...rogra.html
http://www.cnn.com/2018/01/01/us/california-m...index.html
MyDx Cancels Reverse Stock Split; Allows the Free Market to Take Its Course to Determine the Company Valuation
http://www.prnewswire.co.uk/news-releases/myd...29493.html
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.
MyDx Seeks Medical Device Designation For CannaDx And The ECOSmartPen
Making MyDx Smart Devices More Affordable & Accessible for Canadian Cannabis Users
https://ir.mydxlife.com/press-releases/detail...dx-and-the
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.
About MyDx, Inc.
MyDx, Inc. (OTC:MYDX) is a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company's first product, MyDx®, also known as "My Diagnostic", is a patented multiuse hand-held chemical analyzer designed to help consumers and professional test for pesticides in food, chemicals in water, toxins in the air, and the safety and potency of cannabis samples, which is the initial focus of through the CannaDxTM application. CannaDx users have submitted over 40,000 crowdsourced datapoints revealing the chemical profile of the cannabis they are consuming and how its making them feel which feeds a data analytics platform, a SaaS business, as well as the biopharmaceutical division of MyDx. The company is committed to addressing areas of critical national need to promote public safety, transparency and regulation in the various markets we serve and hence its more immediate mission is to continue to develop smart devices as part of an ecosystem that crowdsources consumer generated preclinical data to drive innovation in the cannabis industry. For more information, please visit www.mydxlife.com.
MyDx Files Patents & Is Now Accepting Preorders For The ECOSmartPen™The Industry's First Child-Protected, Delivery Device Capable of Tracking Dosages
https://seekingalpha.com/pr/17012007-mydx-fil...cosmartpen
SAN DIEGO , Nov. 28, 2017 /PRNewswire/ -- MyDx, Inc. (OTC: MYDX(MYDX)), a science and technology company and creator of MyDx(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 filed patents on its revolutionary, second smart device – The ECOSmartPenTM – and is now accepting Pre-Orders.
The ECO Smart PenTM by MyDx(MYDX)is a next generation, rechargeable delivery pen with Bluetooth technology capable of monitoring dosages and consumer feedback. The ECO Smart Pen also comes equipped with remote access and child safety protection via the EcoSmartPen App and is designed to help patients and consumers better manage and regulate their cannabis consumption habits, while protecting their children from unsupervised use.
A Game-Changing Innovation That Helps to Raise the Standard of Safety in Cannabis
MyDx's (MYDX) patents cover the delivery pen's child-safety locks, dosage control and tracking and related technologies unique to the next-generation delivery pen that monitors how many doses or "puffs" it takes for strains/formulas to take effect per individual – personalized medicine. This information is stored passively or actively, depending on the user, and is complimentary to the MyDx(MYDX) ecosystem, which includes its testing devices, software and services.
Since late 2015, MyDx(MYDX) has worked diligently to help consumers better understand what they put into their bodies and empower them to take charge of their marijuana consumption habits. Its handheld tester is used all over the world to identify and track how those strains impact its users. Approaching 3,000 testers in circulation, MyDx(MYDX) has built, and continues to build upon, a comprehensive database of user and consumption information that is now being used to drive policy; educate and inform industry stakeholders such as doctors, consumers, entrepreneurs, and politicians; and, promote a higher level of public safety and concern.
MyDx (MYDX) is the only company in the world that actively tracks and analyzes (in real time) how strains impact consumers and alleviate ailments. While this is important to the legitimacy of the industry, given the current lack of oversight, it's also a public safety concern. That's when it occurred to the MyDx Team that more needed to be done, especially for those with debilitating ailments.
"Today, doctors only offer prescriptions for medicinal marijuana, generally. They don't provide any recommendations on what to use and when and how to use it. And that's a public safety problem. We know from our data that not all cannabis is the same (not even the names), which is why our customers use our handheld testers. But the one piece of data we didn't have was knowing how much of a certain chemical profile it took to achieve its desired effect. Hence the creation of the ECO Smart Pen," said Daniel Yazbeck, CEO of MyDx(MYDX). "We will not only offer patients a way to Trust & Verify® their products, but, with the ECO Smart Pen, they will be able to determine for themselves how much they need to consume to achieve their desired effect. In combination with MyDx360, doctors and administrators will also be able to better monitor their patient's habits and offer more targeted prescriptions."
Lack of Industry Research
Despite the rising tide of marijuana legalization sweeping across North America, research still lags reform, which is counter to how, generally, research informs reform. Moreover, according to KPMG's report on Improving Medical Marijuana Management in Canada, "the quality of clinical data has been inconsistent and there are significant gaps in understanding of the therapeutic efficacy for many conditions." Consequently, the industry is moving forward without complete regard to patient and public safety and that's a problem for consumers, especially those using marijuana to address specific ailments. With the addition of the ECO Smart Pen to the MyDx Ecosystem, MyDx(MYDX) will capture and house the most comprehensive dataset of marijuana consumption in the world. This new data will then inform the company's foray into identifying green active biopharmaceuticals (gAPI).
How the ECO Smart Pen Works
Passive Monitoring: The ECO Smart PenTM immediately activates the MyDx App via bluetooth as soon as you inhale from any compatible brand cartridge. Once the brand information is submitted, the pen will then passively monitor your consumption habits, such as frequency of use since purchase as well as dosage.
Active Monitoring: Once you begin using the product, you'll be able to actively track which ailments the product relieved and/or feelings it generated and how many doses it took to generate those feelings and/or reliefs.
Software As A Service (SAAS)
Manufacturers, Doctors and the like will be able to use MyDx Software on a private label basis to monitor and manage their respective user groups under a subscription-based model, which will be tiered for varying levels of access to user data and analytics.
Key Features
• Bluetooth Connectivity
• Behavioral/Dose Controls
• Mobile-App Control (local or remote)
• Usage Analytics
• Data/Cloud Storage
• Child-Safety Controls
To learn more or Pre-Order the ECOSmartPenTM, please visit www.mydxlife.com/ecosmartpen
MyDx Featured by Canadian Tier 1 Business News Network (BNN), Toronto Life Magazine, and Global News
http://www.otcmarkets.com/stock/MYDX/news/MyD...24&b=y
SAN DIEGO, Aug. 29, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announced that it was recently featured by Canadian Tier 1 Media Outlets including Business News Network (BNN), Toronto Life Magazine, and Global News.
CEO Daniel Yazbeck will also be speaking on a panel at MJAC2017 InvestorsHub International Cannabis Conference entitled "Investing in the Picks and Shovels of the Industry" at 12:00 p.m. Pacific Time on Saturday September 2nd at the JW Marriott Los Angeles.
MyDx Reports Second Quarter Results
Company Reports Significant Increase in Gross Profit Margins and Decrease in Liabilities with Gains Leading to Positive Net Income for the Quarter
http://www.otcmarkets.com/stock/MYDX/news/MyD...57&b=y
SAN DIEGO, Aug. 21, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB: MYDX), a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announces its 2Q 2017 results and management analysis.
Financial Results
CannaDx Product Revenue increased to ~$126K in Q2 2017, up ~47% from Q1 2017
MyDx sold out of its signature handheld analyzer in Q1 on stronger than expected demand leading to a backlog of orders and customer deposits that are were filled in Q2.
The Company expects to continue to receive consistent growing demand for its analyzer based on word of mouth and referrals mainly as well as a new marketing initiatives the company launched late June which is generating new customer awareness and product orders from Canada. The company will focus on deploying the EcoSmartPenTM in the second half of this year as well as expand its customer base for the MyDx360 SAAS service beyond the initial BlackSwan/i+Huntr brand agreement which was not recognized as revenue in this quarter.
Gross profit margins as a percentage of net revenues increased to 78% in Q2, a greater than 32% increase from the same period last year, the highest product margins in company history
The gross product margin was improved by an increase in MyDx Grower Packages sold for $899 on our online store, which yield a higher profit margin compared to the standard $699 retail package and a much higher margin compared to units sold through our distribution channels. Any anticipated future revenue from the company's software licensing and services are expected to have a further positive impact on the overall gross profit margins
Research and Development Expenses decrease 81% with new accelerated product development approach
For the three months ended June 30, 2017, the Company expended $27,724 for various research and development projects for hardware, database, software and sensor development as compared to $145,885 for the three months ended June 30, 2016. The decrease of $118,161, or 81%, resulted primarily from the Company taking a more economical and streamlined outsourcing approach to developing new products (such as the Eco Smart PenTM, MyDx360TM, AeroDx®).
The company is taking the same approach to launch its next generation of CannaDxTM, AquaDx® and OrganaDx® products.
For the first time in company history, the company has generated a Net Positive Income as a direct result of a decrease in liabilities and gains generated through other income
The Company incurred net income of $2,967,808 compared to a Net Loss of $(936,665) for the three months ended June 30, 2017 and 2016, respectively. The increase in net income resulted primarily from the decrease of interest expense related to the convertible notes payable, an increase in a gain on fair value of derivative liability, a gain on settlement of debt, and a gain of $135,000 on the forfeiture a technology transfer deposit. These were offset by an increase in derivative expense.
New Product Offering Operating Results
The company updated its CannaDx product webpage (www.mydxlife.com) and launched a Marketing Campaign in Canada which is already yielding new sales from customers in Canada.
The company closed its first big customer under its newly created MyDx360 SaaS Licensing and Services platform with an ~$80K agreement signed in Q2 with BlackSwan.
The company spent a lot of product development time and focus on the creation of the MyDx ECOSmart PenTM, a Bluetooth enabled delivery vaporizer pen capable of actively and passively tracking consumption habits as well as other unique features to be announced, and is on track to deploy this product in the second half of this year.
MyDx Enters Into An ~$80,000 MyDx360 SaaS Licensing And Services Agreement With Retailer BlackSwan; BlackSwan enters the Delivery Pen and Supplements Markets with I+huntr Brand, Tailored for Performance Athletes, Powered by MyDx360
http://www.otcmarkets.com/stock/MYDX/news/MyD...21&b=y
SAN DIEGO, June 19, 2017 /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 they report it alleviates, today announced a definitive agreement with BlackSwan, a developer and retailer of custom vaporizers, to provide a community engagement software platform to support its new product development initiatives under the terms of MyDx360.
Licensing Agreement Provides for Branding on Multiple Delivery Mechanisms
As part of the MyDx360 agreement, BlackSwan chose from one of MyDx's base chemical formulations that best alleviated pain and inflammation according to the MyDx community. From there, MyDx software enabled BlackSwan to "boost" that formula by changing various cannabinoid and terpene parameters as well as other natural organic terpenes to come to a final formula uniquely formulated by BlackSwan.
"This uniquely positions MyDx at the center of a revolution in how therapies are developed utilizing chemicals found in cannabis and other naturally occurring plants. The MyDx360 platform makes it incredibly easy for market players to create new high quality tailored formulations that can support their customer's needs. It also speaks to our ability as a company to execute on our vision of creating a brand centric ecosystem powered by community driven data. We look forward to supporting BlackSwan and the development of the I+huntr brand personalized for high performance athletes and powered by MyDx360," said Daniel Yazbeck, CEO of MyDx.
MyDx will continue to work with BlackSwan to support the development of new formulations, which will be manufactured in the form of concentrates via state licensed suppliers, and then delivered via MyDx's hardware, the ECO Smart Pen, and supplements tailored to performance athletes. Once products have been delivered via MyDx's manufacturing partnerships, the MyDx App will provide customer-engagement support to acquire and analyze user feedback.
The MyDx White Paper: A practical review of the cannabis testing industry
https://drive.google.com/file/d/0B7B53DOpun05...&pli=1
MyDx featured on HBO's Daily News:
https://youtu.be/Miv2vHbvdSY
Share Structure a/o Dec, 2017:
Authorized Shares 10,000,000,000
Outstanding Shares 1,809,028,964
Float 1,535,318,771
EINPresswire: MYDX, the best medical marijuana stock to buy in 2017
http://newjersey.news12.com/story/35699120/th...uy-in-2017
NEW YORK, NEW YORK, UNITED STATES, June 19, 2017 /EINPresswire.com/ Are you waiting to identify the next big game changer in your investment plan? Have you considered getting high on marijuana penny stocks? Investing in medical marijuana penny stocks is the latest craze around Wall Street.
But the question is what are medical marijuana penny stocks? Well, they are all plays on the hitherto forbidden drug, marijuana. The US Government in March 2017 legalized the use of recreational marijuana in eight states, and in 28 states in all, use of marijuana for the medicinal purpose was made legal.
The decision instantly led to a spike in the number of business ventures based primarily on marijuana. From the actual growers to products based on marijuana to pharma companies using it, the list just continues. Needless to mention then marijuana found a way into the stock markets too. The medical marijuana penny stocks are indeed the flavor of 2017.
Should You Invest in Medical Marijuana Penny Stocks?
The question is how wise it is to buy medical marijuana penny stocks and most importantly how do you decide which medical marijuana penny stocks to buy? Here is a quick lowdown on the best medical marijuana penny stocks to buy in 2017 and how wise it is to invest in these counters. But before that, it is important to understand the business fundamentals of these medical marijuana penny stocks and the risk they embody. After all, you must understand though the use of medical marijuana has been legalized, it is treading into gray zone no doubt. Moreover, political, economic and social factors are also key matters of concern in this matter.
You do not have any major or established player in this field. Most of the medical marijuana stocks that are available in the market are penny stocks. The average share value is less than $1. You do not have companies valued more than $100 million and thanks to them trading mostly in Over-The-Counter and Pink Sheet segments, there is barely any regulation managing them.
Even the other prominent public players have significantly small or no stake in these medical marijuana penny stocks. But does it mean that you should absolutely avoid them? Well, think about how thegoldmining business was in the 19th century? Did you even consider gold becoming one of the biggest international benchmark and hedge it is now? Or think about the way we considered software stocks way back in the 1970s. Who would have thought about the technology boom?
This makes your decision to invest in medical marijuana penny stocks even more difficult is the unabated growth that the sector is experiencing. In fact, legal marijuana sales in the US, as per some recent studies, has risen a phenomenal 36% to close to $7 billion by the end of 2016. The estimates indicate that legal cannabis sales could actually breach the $50 billion mark in another 10 years by 2026. Therefore it becomes very important to choose wisely to get the best medical marijuana penny stocks to buy in 2017.
What Are the Best Medical Marijuana Penny Stocks to Buy in 2017?
In the list of what medical marijuana penny stocks to buy, here are some of the top contenders:
1. MYDX, the ever growing and first company to produce the first battery operated handheld for consumers has opened stock for investors. Investing in stocks is one of the fastest ways to maximize your returns. It is common for investors to grow rich overnight with stock market investments. MYDX is no exception. Leverage on this investment choice without taking on too many risks. MyDx stocks is the right company to invest with.
About MYDX
MyDx, Inc. is a science and technology inclined company that is based in San Diego, California. It created MyDx which is the first battery operated, patented, handheld, electronic analyzer for consumers. The company’s mission is to empower people to live a healthier life by revealing the chemicals in what they eat, drink and inhale. This will both help to improve the health of consumers and to protect the environment. MyDx uses nanotechnology to accurately measure chemicals of interest and has multiple sensors being developed in its lab that are compatible with the MyDx App.
The financial health and prospect of MYDX is unbeatable. To enjoy best returns it is advisable to invest in good companies. You can determine a company's quality by its financial health and record of accomplishment with customers and investors alike. For you to keep earning returns the company should continue to perform well in the future too.
Why buy shares of MYDX
MyDx is not a new company; it has survived all the rigors that many of its peers did not survive. MyDx has come to stay; this is a fact due to the services it provides. MyDx help to make the consumer healthy by revealing the purity in what we eat and drink. Services like these are never saturated as the world is currently affected with several impurities, in food, drink and even the air we breathe.
Hear what Daniel Yazbeck CEO of MyDx has to say, “We are in the process of positioning the company for long-term stability and growth and we are very excited about our prospect”
About Daniel Yazbeck
Daniel Yazbeck is the founder, seed investor and creator of the MyDx Analyzer. Daniel has worked with Fortune 500 for 15 years. He has worked with the popular Pfizer Pharmaceuticals as a scientist. He specialized in Chemical Research and Development technologies. He has also worked as an Engineer and Strategic Market Developer for Panasonic. He has always been working to ensure consumer protection.
Mr. Yazbeck has been a Cashflow Investor for over 10 years, holds a Master of Science degree in Medicinal Chemistry from McGill University, a minor in Marketing, and is a co-Author on several world patents and research publications.
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