If you have read my previous blog posts, you kind of have an impression of what MyDx is and what they provide. MyDx is a publicly traded company under the ticker symbol MYDX. MYDX trades on the pennystock market. That means that the stock is not on a major market exchange and exchanges at a relatively low price. At the time of writing, MYDX is trading at .0047 per share. The company has great potential, so should you invest in it? That’s up to you, but let me give you some information. In the end, you have to do your homework if you are going to invest in pennystocks.
States in the United States continue to legalize marijuana for either medical or recreational usage. Canada is expected to have a $50 billion cannabis industry by 2026, due to the 2018 legalization. This both is good news for weed stocks, including MYDX, as there is more demand for cannabis and MyDx will be able to sell more of their products.
The company has several income streams. These include data analytics, consumer products (such as the MyDx Analyzer), bio-pharmaceuticals, and Software As A Service (SAAS). They are also expecting to launch the AeroDx and ECO Smart Pen (you can read all about the ECO Smart Pen in my previous post) and that is expected to bring more revenue for MyDx Inc.
These are just a few things in the many things that are going on in the company. For more information about the company financially, go to their investor relations page (http://ir.cdxlife.com/). And base your decision whether to invest in this stock on your homework.
The semi new science and technology company MyDx, Inc. is preparing for its launch of the ECO Smart Pen in the second half of 2017. The ECO Smart Pen is a vaporizer pen equipped with Bluetooth technology. It is designed to give a better understanding to patients and consumers about their consumption habits. Keep an eye out on this second smart device that MyDx is bringing to the market this year!
So what can this device actually do? First of all, the device uses passive monitoring using Bluetooth. Once you have put in the brand name you are using, it will monitor how many times you use the ECO Smart Pen. Second, this is where YOU come into play. Using active monitoring by tracking which ailments it relieved and how many ‘puffs’ it took to reach that, you help obtain the information. Last but not least, manufacturers and doctors will be able to use MyDx Software on a private label basis to monitor and manage their respective user groups under a subscription-based model. This is done with something called SAAS (Software As A Service)
Now you’re probably asking, why does the ECO Smart Pen monitor all this. It is monitored for the use of both patients and consumers, brands, manufacturers, and doctors. Patients and consumers can manage their consumption habits. Brands can use this info to create a more sophisticated vape pen experience. Manufacturers can access this data for own product development, provided they have a licensing agreement with MyDx, and finally doctors can use the information to better manage their prescriptions.
With the Smart Pen, MyDx will tap into a multibillion dollar industry. Many psychological effects of strains are still unknown to this day and MyDx wishes to eliminate that problem with their new and revolutionary ECO Smart Pen. As the title suggest, MyDx (OTCMKTS: MYDX) is onto great things and is definitely a company to keep an eye on.