Published On: Wed, Mar 22nd, 2017

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 technological firm and proprietor of MyDx® (My Diagnostic) has announced successfully resolving a corrosive relationship with its toxic convertible debenture lenders. MyDx® is the first chemical analyzer made for the retail and professional cannabis consumers so as they can correlate with the chemical content of cannabis.

The company took a hard stance early this month and filed for a temporary restraining order at a time it was believed it hard satisfied all the required obligations to some notes in its financial statements. Even after clearing contentions issues in its balance sheet, the company continued getting notifications to pay balances that were claimed to be pending.

MyDx Chairman and CEO Daniel Yazbeck admits the company has been going through difficult times in the last few weeks but further acknowledges that they fought hard and have finally reached a resolution in for the convertible liabilities in company’s balance sheet. He adds that the move cleared some of the company’s biggest hurdles hence enabling the company to concentrate on its business. The company intends to use its crowdsourced data to produce unique ailments and feelings mainly targeting the cannabis market.

Yazbeck says the company has invested over $9 million and intends to benchmark some of the best players in the industry so as to increase value for shareholders as well as improving the company’s financial position.

The company’s outstanding liabilities now stand at $35,000 which is owed by the company in regards to its convertible promissory notes. As it continue to expand, the company intend to focus on commercializing its data set and will be relying on the liquidity from its capitalization structure for acquisition of strategic assets and step up its global sales and make inroads in new markets.

MyDx, Inc is a chemical sensor and detection technology company headquartered in San Diego, California. The company’s mission is to help people to develop trust in what they put in the bodies and minds. The company is the proprietor of MyDx®, an affordable and portable analyzer that offers real-time analysis.

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