Mydx Inc (OTCMKTS:MYDX) Announces Resolution Of Key Liabilities That Position The Company To Unlock Its True Value

Mydx Inc (OTCMKTS:MYDX), a science and technology based company and producer of MyDx® (My Diagnostic) recently announced successfully and amicably resolving the misunderstanding with its  toxic convertible debenture lenders. MyDx®  is the first mult-purpose and operated analyzer that is mainly designed for retail consumer an Cannabis professional to correlate the chemical characteristic of cannabis with its effect and impact on consumers.

The company had taken a hard stance in March and filed a temporary restraining order arguing it had fully satisfied the requirements to some notes on the balance sheet yet the company was continually issued with conversion notices to pay balances that were claimed to be pending. A statement from the company said the convertible debt lenders where causing a fall in the company’s stock leading to market capitalization.

MyDx Chairman and CEO Daniel Yazbeck says it has taken weeks of legal battles but it is pleasing that that they finally won it and managed to settle on an amicable solution. He adds that settlement will make room for the company to focus on the next stage of its business development adding that they intend to use its crowdsourced data to come up with unique taste and feeling as well as specific formulations for the Cannabis market. He adds that this will put the company is a better position to attract investors as well as growth capital which will in turn help in unlocking the true value of the investment.

Yazbeck says that with nearly $9 million invested and a close evaluation of peers companies that are equally attracting huge investments they remain optimistic that all stakeholders benefit from this growth.

After the settlement, the company remains with $35,000 that is only eligible for payoff before May 13, 2017.

The company will now be focusing on developing on commercializing its data set mainly depending on the liquidity from the capitalization structure for acquisition as well as the growing global sales.

MyDx, Inc is a sensor technology and chemical detection company with its headquarters in San Diego, California. The company mainly specializes in assisting people Trust & Verify® what their minds and bodies consume.


MyDx Inc (OTCMKTS:MYDX) Reports Resolution Of Major Liabilities

MyDx Inc (OTCMKTS:MYDX) reported the successful resolution of the combative association with the firm and its convertible debenture lenders. The firm took an aggressive stance, submitting for a temporary preventive order when it considered that it had fully met its obligations to specific notes on its balance sheet, yet persist to get conversion notices to settle balances that were claimed unpaid.

The company stated that it appreciates the capital and support that was extended to them during this time. It is a simple notion that these convertible debt financiers resulted in the downward spiral and considerable dilution over the preceding six months, and leading in market capitalization.

The buzz

Daniel Yazbeck, the CEO and Chairman of MyDx, reported that to say the least, the preceding few weeks have been a struggle where they are proud to inform that they fought hard and eventually reached a resolution for this convertible note liabilities problem on balance sheet.

This key measure step has ultimately given the way for the firm to focus on the upcoming phase of its operations where it will pull its crowdsourced data to advance unique feeling and disease specific offering formulations for the cannabis industry. Just as important, it places the firm in an attractive position to get growth capital at a pre-determined price which they consider will reveal the true value of the firm.

Yazbeck reported that with nearly $9 million having been put to date and an assessment of peer firms that are trading at surprising valuations, they consider their investors are well positioned for the incredible growth in market. As of today, the due principle balance owed by MyDx as per its convertible promissory notes stands at $35,000, and is eligible for payoff prior to May 13, 2017. These notes are not eligible for being converted into equity.


MyDx Inc (OTCMKTS:MYDX) Showcased In HBO’s DAILY VICE News

MyDx Inc (OTCMKTS:MYDX) a rapidly advancing science and technology firm that has advanced MyDx® reported that it was recently showcased on HBO’s DAILY VICE News. The firm representatives will be speaking at the upcoming Annual Cannabis Business Expo on March 5 – 8, 2017.

The buzz

MyDx has been focusing on the market deployment and development of MyDx sensor technologies and related apps; enhancement of the public firm enterprise, comprising the decline of cash burn and the closure of considerable debt which has affected the stock performance; expanding its international sales footprint for its MyDx product lines; and establishing the world’s most comprehensive database of physiologically applicable data from medicinal cannabis users.

Daniel Yazbeck, the CEO and Chairman of MyDx, said that these are thrilling times for company. The firm is maturing to the extent where they can now commence to leverage their innovative crowdsourced scientific dataset depending on chemical profiles to develop a better experience for clients.

Mr. Yazbeck will be presenting a talk, the theme of which is identifying the right strain for your disease or desired feeling. MyDx is a sensor technology and chemical detection company whose objective is to assist individuals ‘Trust & Verify®’ what they give to their minds and bodies. The firm advanced MyDx®, an analyzer that offers real-time chemical analysis and is utmost convenient to hold in palm.

The multi-use analyzer leverages more than a decade of recognized chemical detection know-how to measure chemicals of interest. MyDx owns a growing and substantial intellectual property portfolio of numerous patents comprising its technology. The MyDx OrganaDx™, CannaDx™ and AquaDx® sensors are commercialized, while the AeroDx® app is next in line.

As per the update, all sensors are expected to be compatible with a MyDx Application that empowers customers to live a healthier life by disclosing the chemical composition of what they drink, inhale and eat.

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