MyDx Cancels Reverse Stock Split

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.

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 CannaDx^TM 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.  

Forward-Looking Statements
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