Allows the Free Market to Take Its Course to Determine the Company Valuation
SAN DIEGO, Dec. 20, 2017 /PRNewswire/ -- MyDx, Inc. (OTC: 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 that based upon recent and anticipated developments for the Company, the board has decided to cancel its plans
for the reverse stock split approved earlier this year.
"With the influx of interest for our MyDx360 services, including ancillary products such as the EcoSmartPen™, as well as the
progress we have made in the analysis of our 55K+ data points and the development of MyDx crowdsourced formulations, we are very
optimistic about where the Company is headed into 2018. This, combined with the fact that recreational Cannabis will be legal in
California in less than two weeks, gives us confidence that our valuation is better achieved
without having to complete a reverse stock split at this time and simply allowing the free market to determine our value," said
Daniel Yazbeck, CEO of MyDx.
The initial reason for ratifying and approving the reverse split was that the board believed that the Company's outstanding
shares may have needed to be reduced with the primary goal of better enabling the Company to raise funds to finance growth as
well as facilitating higher levels of institutional stock ownership where investment policies generally prohibit investments in
lower-priced securities.
That said, the executive team has complete confidence in its current business strategy to attract a broader range of new
shareholders at this price level. While the Company remains optimistic, there can be no assurance that this will be the case.
To learn more about MyDx, please visit www.mydxlife.com
To learn more about MyDx360™, please visit www.mydxlife.com/mydx360.
To learn more about the EcoSmartPen™, please visit www.mydxlife.com/ecosmartpen.
About MyDx, Inc.
MyDx, Inc. (OTC:MYDX) is a chemical detection and sensor technology company based in San
Diego, California whose mission is to help people Trust & Verify® what they put into their minds and
bodies. The Company's first product, MyDx®, also known as "My Diagnostic", is a patented multiuse hand-held chemical
analyzer designed to help consumers and professional test for pesticides in food, chemicals in water, toxins in the air, and the
safety and potency of cannabis samples, which is the initial focus of through the CannaDxTM application. CannaDx
users have submitted over 40,000 crowdsourced datapoints revealing the chemical profile of the cannabis they are consuming and
how its making them feel which feeds a data analytics platform, a SaaS business, as well as the biopharmaceutical division of
MyDx. The company is committed to addressing areas of critical national need to promote public safety, transparency and
regulation in the various markets we serve and hence its more immediate mission is to continue to develop smart devices as part
of an ecosystem that crowdsources consumer generated preclinical data to drive innovation in the cannabis industry. For
more information, please visit www.mydxlife.com.
Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the Securities Act of 1933,
as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements may contain certain forward-looking
statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements
relating to future operations and results. Any statements in this press release that are not statements of historical fact may be
considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate,"
"intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements.
These forward-looking statements by their nature are estimates of future results only and involve substantial risks and
uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional
financing requirements, development of new products, our ability to complete our product testing and launch our product
commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis,
the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties
detailed from time to time in our reports filed with the Securities and Exchange Commission, available at http://ir.mydxlife.com/all-sec-filings or www.sec.gov.
Investor Contact:
MyDx Shareholder Communications
800.814.4550 ext. 4
info@mydxlife.com
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SOURCE MyDx, Inc.