- Expects to become cash flow positive in Q416 and profitable in Q117
- Expects 2016 revenues to increase by at least 100% over 2015
- Company to announce new business model will significantly improve gross margins and earnings going forward
- CannaDx TM, as standalone business, generating earnings and nearly $1 million in revenue since commercialization in Q315
- Company's proprietary data positions MyDx to enter into biopharmaceutical industry
- Company's new business model supported by strengthened balance sheet and positive earnings key to driving shareholder value in 2017 and beyond
MyDx offers consumers the first and only handheld chemical analyzer that tests the safety and chemical profile of cannabis samples, associates them with a feeling and ailment relief, and helps people find a safe strain that works for them. We are very well positioned to support and capitalize on this movement as our products and markets evolve.CannaDx Data to Drive Entry into Biopharmaceutical IndustryMajor pharmaceutical companies such as Novartis, Pfizer and Roche need to discover, develop and formulate new drugs that must undergo stringent FDA clinical trials which cost on average nearly $300 million. Our CannaDx application, which is HIPAA compliant, collects users' test data which then can be used to guide cannabis-based drug discovery. MyDx has accumulated over 30,000 unique data points that can significantly accelerate any pharmaceutical company seeking to discover new cannabis-based drugs. We believe this asset alone has more potential than all of our other product lines combined. In SummaryWhile not unusual for a young public company's stock, the past few weeks have been quite a roller coaster. I, as one of the Company's largest shareholders, and everyone else working for you here at MyDx, feel your concern and are all the more grateful for your support. Although we might continue to experience some additional pressure from outstanding convertible debentures, I am confident the worst of that turbulence is now behind us and this negative pressure will be offset by a number of positive developments that we have been diligently pursuing over the past year. These latest developments, when announced, coupled with our stronger financial position will support our outlook for substantially increasing revenue and earnings in 2017 and beyond. Sincerely, /s/ Daniel R. YazbeckChairman and Chief Executive OfficerMyDx, Inc." About MyDx, Inc. MyDx, Inc. (OTCQB: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 developed MyDx ®, 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 chemical detection technology to measure chemicals of interest. The Company owns a substantial and growing intellectual property portfolio of patents covering its technology. The MyDx CannaDx TM, AquaDx TM and OrganaDx TM sensors are now commercialized, and the AeroDx TM application is next in line. All Sensors will be compatible with a MyDx App that empowers consumers to test the chemical composition of what they eat, drink and inhale. For more information, please visit www.cdxlife.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.cdxlife.com/all-sec-filings or www.sec.gov .
Investor Contact:Phillip Sugarman, Vice PresidentInvestor Relations PartnersPhone: email@example.com