MyDx Inc (OTCMKTS:MYDX) reported that all previously announced variable toxic debts have been settled via the unapproved conversion of the Crown Bridge note. The firm has filed a litigation against its ex and other defendants who have tried to create a competitive benefit with its anticipated product release of its air quality sensor named AeroDx®.
On July 14, 2017, MyDx and its CEO Daniel Yazbeck, submitted a complaint against a series of Suspects who have supposedly engaged in biased business practices, made incorrect speeches about the firm, its offerings, and Yazbeck at investor events and on web investor platforms. As of now, there can be no assertion about the results of the lawsuit, still the firm took aggressive steps it thought were required to safeguard its business and its stakeholders.
AeroDx Sensors marks as the first of three expected versatile sensors to be introduced into the market and showcases the first versatile sensor to be utilized with the new launch of the MyDx 2.0 Analyzer introduced in May 2017. AeroDx is projected to measure key air quality aspects for cannabis and non-cannabis clients, to be interchanged with the CannaDx Sensors. Once they are inserted into the device, it becomes an air quality checker with the ability to detect VOCs such as Formaldehyde and Butane, present in the air. It can monitor temperature and humidity, which furthers aid in averting mold and germ growth.
On April 30, 2017, MyDx shared a payoff demand to Crown Bridge as required under the set terms of the loan contract. The firm agreed to repay the variable toxic convertible note that is remaining on its balance sheet before the prepayment deadline comes. Crown Bridge recorded the request and despite MyDx and its counsel’s recurrent payoff request, in the first week of July, Crown converted nearly $36,749 into approximately 14.699 million shares of MyDx’s common stock.