MyDx (OTCQB:MYDX) has announced upgrades to its MyDx 1.0 chemical analyzer hardware and software.
As quoted in the press release:
These upgrades will greatly advance existing capabilities, including improvement in the overall performance of the device and for the first time, will allow the first of three anticipated upcoming sensor releases in AeroDx, which will measure key air quality parameters for cannabis and non-cannabis consumers, to be interchanged seamlessly with the CannaDx Sensors.
MyDx Takes Back-Orders in Q1 on Greater than Expected Demand
MyDx sold out of inventory in Q1 on greater than expected demand for its chemical analyzers and subsequently ordered 1,000 units retrofitted with the newest 2.0 version upgrades. The new units have approximately 200 components to its bill of materials and are currently undergoing final assembly/QA/QC in its production facility in California. The units will be able to accommodate multiple sensors and advances the device to the next-generation of testing capabilities. Q1 Sales combined with back-orders and customer deposits outperformed the same period in the previous year and the company looks forward to fulfilling greater demand for its products.
MyDx is the Official Handheld Chemical Analyzer to the Cannabis Industry by MassRoots
Cannabis users have no idea of what they’re buying or consuming because of the lack of enforcement of standardized industry protocols that have diluted QA/QC in the industry. This represents a serious public safety issue and it could be interpreted that the industry is engaged in false and misleading advertising.
To simplify the current public safety issue that exists, consider the following example. If your intent is to replace Xanax with a certain cannabis chemical profile to alleviate Anxiety, then in order to confirm that “prescription” a MyDx device is needed to ensure you’re getting the appropriate chemical mix and dosage.
To highlight this further, if a doctor prescribes a 0.5mg dose of Xanax and without proper labeling and tracking, you were sold 25mg of Xanax, this would be a serious public health and safety hazard. And this is exactly the current state of affairs in the cannabis industry where having a MyDx device can provide a higher level of assurance of what you’re consuming.
Nextleaf Comments on Financial Results from Q1 Financials