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Tuesday, August 9, 2022

The Inside Scoop on MyDx Inc(OTCMKTS:MYDX)

MyDx Inc(OTCMKTS: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,

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.

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 June 15 MYDX announced the deployment of a multi-media marketing campaign across Canada to expand consumer awareness and drive sales. MyDx Intends to Further Penetrate Canada’s ~$9bn Cannabis Market. As reported in May 2017 by the Globe and Mail, federally licensed laboratories, the facilities best equipped with the equipment and expertise to examine cannabis products for safety on behalf of public health, currently test cannabis for the approximately 43 licensed producers in Canada, and are NOT legally able to test marijuana for consumers and retail dispensaries.

“With the whole country set to legalize marijuana, outside of containment testing, it is important to also keep in mind that the same cannabis sample that might reduce anxiety in one person can create paranoia for another depending on the patient’s physiology and the toxicity of the chemical profile they consumed. Canada will continue to be an important market for us as we address areas of critical national need to promote public safety, transparency and regulation via our smart devices and consumer-driven feedback platform. These devices, combined with our unique HIPPA compliant data analytics, can help licensed producers, regulators, and consumers in Canada prevent abuse and ensure patients are able to report and track the effects of the medicine they are receiving.

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Currently at just under a penny 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.

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