MYDX (OTCQB:MYDX)

DALLAS, TX, UNITED STATES, June 20, 2017 /EINPresswire.com/ -- #1. OTCQB: MYDX, The ever growing and first company to produce the first battery operated handheld cannabis chemical analyzer for consumers.

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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 is compatible with the MyDx App.

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#3. MyDx Reports First Quarter ResultsStrong Performance of CannaDx Drives Sales Growth, Leading To Positive Cash-Flow Generation.

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 1Q 2017 results and management analysis.
Financial Results
Revenue and client deposits increased to ~$264k, up ~50% from the same quarter in the previous year, on strong product & licensing demand
Revenue was lifted by increasing demand for CannaDx™ Sensor, which in turn was brought on by greater consumer awareness of MyDx products and services
MyDx sold out of its signature Handheld Analyzer on stronger than expected demand leading to a backlog of orders and customer deposits that are currently being filled
For the first time in company history, the company is cash-flow positive with ~$30k in operating cash flows vs. (~$210k) from the same quarter in the previous year
The company demonstrated its ability to generate sufficient positive cash flow to maintain and grow its core business operations
Combined with cash flows from investing and financing activities, the company generated net positive cash flow of ~$100k, which strengthened the overall balance sheet by increasing cash on hand to ~$135k
The company intends to make substantial investments in marketing and sales to grow the business and execute on its growth strategy, which may impact cash-flow characteristics going forward
Satisfied ~$250k in debt used to finance company operations and support growth initiatives
The company continued its march to relieve itself of toxic variable rate debt obligations, which has significantly reduced its yearly debt burden and brought a level of stability to the stock price
The company will continue to seek alternative financing options to support the growth of its business segments
Operating Results
MyDx diversified its business operations by creating an ecosystem of hardware, software and related services that serves to generate consumer-centric data that can then be leveraged to develop, deploy and track additional consumer products and services
The company spent time and R&D on the creation of the MyDx ECO Smart Pen, a blue-tooth enabled delivery pen capable of actively and passively tracking consumption habits
The company also created MyDx360, its first revenue stream developed by MyDx data insights, which is a SAAS-based community engagement platform designed to help entrepreneurs launch and track cannabis brands at a low cost
The company intends to close its first big customer under its newly created revenue streams in Q2 and will announce it when terms are fully negotiated
MyDx continued to build out its sensory technologies leading to the latest release of MyDx 2.0, an upgraded chemical analyzer that can now accommodate multiple sensors
MyDx 2.0 handheld devices have been upgraded to allow for new sensors to be interchanged seamlessly with the CannaDx Sensor
AeroDx Sensors will be the first of three anticipated digital sensors to be launched into the market and represents the first versatile sensor with applications beyond cannabis that will allow consumers to test what they eat, drink and inhale.

#4. MyDx Introduces the Eco Smart Pen.

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 it alleviates, today announced its plans to develop and launch its second smart device (with associate engineering and prototype images) out of its Consumer Products Division for the Cannabis industry in 2H2017 - the ECO Smart Pen(TM).
The ECO Smart Pen(TM) Powered by MyDx is a next generation, rechargeable vaporizer pen equipped with Bluetooth technology that helps patients and consumers better manage and regulate their cannabis consumption habits.

#5. MyDx Introduces New Product Offering: MyDx360

MyDx Launches a Robust Platform to Support New Brands and Product Development using its Data Analytics Formulation Engine
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 it alleviates, today announced a new service offering in MyDx360, a Software As A Service (SAAS)-based community engagement platform designed to help entrepreneurs develop, launch and track the effects of newly formulated concetrate products on consumers to help penetrate their target markets more effectively.
As part of the service, companies will choose from among MyDx's many chemical formulations that best align with the ailments its target demographic is seeking to alleviate. From there, MyDx will outsource the delivery of those formulations through licensed concentrate manufacturing facilities and provide customer-engagement support via its SAAS platform to acquire and analyze user feedback. Collectively, this suite of services will be called MyDx360.

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