MyDx Inc(OTCMKTS:MYDX) continues to trade with strength right over its established $0.005 support lines. The stock has a long history of big moves exploding out of double zero land last year to highs of $0.0226. In January of this year the stock popped to $0.01 before coming back to where it started.
MYDX has been very successful in quickly attracting a significant shareholder following that has been bidding this one up catapulting it into the OTCBB top most traded list. The stock has gained some traction from its association with tbe Cannabis sector which has turned into a multi-billion dollar massive growth market that is sweeping across North America.
MyDx Inc(OTCMKTS:MYDX) bills itself as a chemical detection and sensor technology company based in San Diego, California whose mission is to help people Trust & Verify [(R)] what they put into their minds and bodies. The Company developed MyDx [(R)] , a patented, affordable portable analyzer that provides real-time chemical analysis and fits in the palm of the user’s hand. The multi-use MyDx analyzer leverages over a decade of established technology to measure chemicals of interest. It owns a substantial and growing intellectual property portfolio of patents covering its technology. With its CannaDx(TM) sensor commercialized, it has three other sensors being developed in its lab that are compatible with the MyDx Analyzer and App that will empower consumers to test the chemical composition of everything they eat, drink and inhale.
MYDX developed the revolutionary MyDx device as a popular Indiego crowdfunded project. The device raised $40,000 from 187 backers and continues to see new uses and applications.
In September MYDX said it is now accepting pre-orders at special pricing for early adopters. The AquaDx Sensor works interchangeably with the MyDx Analyzer and, along with the CannaDx(TM) sensor, is the second of its four different sensors — with OrganaDx(TM) (tests organic fruits and vegetables) and AeroDx(TM) (tests air quality) both in beta stage and also slated for launch in the coming months.
For a limited time, the Company is running a special AquaDx pre-order promotion. New MyDx customers ordering the multi-use Analyzer and AquaDx Electronic Sensor Chip will receive a $100 discount, plus ten free single-use AquaDx sensors and free shipping and handling. Existing MyDx Analyzer owners will receive the AquaDx Electronic Sensor Chip plus ten free single-use AquaDx sensors and a free Multi-Use retrofit upgrade kit ($99 value) and free shipping and handling, for $69.95. AquaDx delivery is scheduled for December 15.
On September 22 MYDX announced in response to the contaminated water crisis in the Tampa, Florida area, it is offering affected area residents free standalone single use AquaDx sensors to test the safety of their drinking water. Residents may call (800) 814-4550 and choose Option 4 to have an AquaDx sensor that reports a Pass or Fail within 6 minutes shipped immediately while supplies last.
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A massive sinkhole at a Mosaic Company fertilizer plant in Mulberry, Florida, has caused about 215 million gallons of toxic water to drain down into the Floridian aquifer system, according to ABC News affiliate WFTS. Mulberry is about 45 minutes east of Tampa, and the aquifer system supplies drinking water to millions of Florida residents, according to the St. Johns Water Management District’s website.
Fortunately for Central Florida residents, MyDx last week announced it was launching its AquaDx Sensor that works interchangeably with the multi-use, hand-held MyDx Analyzer for the analysis of toxic chemicals in water. The AquaDx Application is a next-generation system that puts sophisticated water chemical testing and analysis technology, and comprehensive tracking and reporting, in the palm of consumers’ hands conveniently and affordably. MyDx’s AquaDx sensor was recently featured in CNN.
On January 16 MYDX announced a definitive agreement and statement of work with a contract research organization to commence clinical trials in Israel on its proprietary pain management formula that was derived from 50,000+ pre-clinical, crowd-sourced physiological data-points tracked by MyDx’s Handheld Cannabis Tester and associated mobile app. Israel was chosen for its ability to fast track studies through the FDA as well as its expertise in the cannabis field. The study will be conducted in one of the leading hospitals in Israel, and will be overseen by the Israeli Ministry of Health.
MyDx Engages Leading Israeli Hospital to Validate its Pain Management Formula
MyDx’s Biopharmaceutical Division, which is focused on identifying green Active Pharmaceutical Ingredients (gAPI [TM] ), will conduct a randomized and placebo-controlled trial to estimate the efficacy of MyDx’s proprietary formulas on patients suffering from chronic Low Back Pain as a Primary indication. The trial will also track Sleep, Depression and Anxiety as Secondary Indications. Formulas were derived from MyDx’s proprietary database of pre-clinical, crowdsourced inputs that tied user experiences to the chemical makeup of a particular strain.
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Currently trading at a $10.5 million market valuation MYDX has minimal assets or revenues and rising debt. But this is an exciting story in small caps; MYDX is a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for the Cannabis professional and retail consumer to correlate the chemical profile of cannabis with the consumers reporting of its therapeutic effect, The stock has also become an Investors favorite with ready liquidity and momentum on its side. We will be updating on MYDX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MYDX.
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Disclosure: we hold no position in MYDX either long or short and we have not been compensated for this article.