How MyDx is Using Data to Solve the Lack of Transparency in Cannabis
SAN DIEGO, May 26, 2017 /PRNewswire/ -- MyDx, Inc. (OTCQB:MYDX), a science and technology company and creator of MyDx® (My Diagnostic), the first multi-use handheld chemical analyzer designed for the Cannabis professional and retail consumer to correlate the chemical profile of cannabis with its therapeutic effect, today announces the importance of data collection and how that can bring about positive change to the level of transparency in an industry in desperate need of it.
MyDx Handheld Cannabis Testers: A First Step in Transparency
MyDx introduced the industry's first handheld cannabis tester in 2015 on the hopes of bringing about greater transparency and integrity to the Cannabis Industry for the benefit of cannabis professionals and retail consumers alike. What started out as a rather complex and ambitious venture in an industry still relatively unproven, has turned into a simple, easy to use handheld device capable of identifying cannabis samples and empowering consumers to track their consumption habits, thereby bringing a higher level of transparency and integrity to an industry in desperate need of it.
Today, MyDx handheld cannabis analyzers are used all over the world by growers, using it as an initial quality check, distributors/ retailers, using it to confirm the chemical makeup of their purchases, and retail consumers, using it to verify their purchases and track their consumption habits.
However, as MyDx began to analyze the data it accumulated from its testing devices, a much darker picture appeared - you cannot trust what dispensaries sell you.
A Problematic Truth: Blue Dreams Differ by an Average of 64% Sample to Sample
To give perspective on the insights MyDx data can provide, consider the above chart. As you can see, Blue Dream is the most tested strain among MyDx users, no doubt due to its popularity, and represents roughly 2.3% of all MyDx strains tested. Gorilla Glue is the second most tested strain, followed by Sour Diesel, Girl Scout Cookies, Green Crack, OG Kush and White Widow. In total, the top 7 MyDx tested strains accounted for approximately 7% of all strains tested by MyDx users.
On the surface, this data doesn't seem to be all that thought-provoking. "Blue Dream" is popular among users and enjoys a level of branding awareness that comes with a good product substantiated by consumer appetite; however, as you go deeper into MyDx's data reservoir, a much darker picture begins to appear.
Today, if you were to go into any dispensary and ask for "Blue Dream", what do you think you would get? Would you get "Blue Dream"?
According to MyDx data, the answer is unequivocally NO!
Unfortunately, not all Blue Dreams are created equal, unveiling the biggest lie in cannabis. Whereas consumer products outside of cannabis enjoy a higher level of consistency and reliability brought on by stricter enforcement of consumer laws, the same cannot be said about the cannabis industry.
More exactly, MyDx data shows that Blue Dreams, in general, differ by an average of 64% sample to sample, meaning you're unlikely to get the same product every time. And this is a problem for both the recreational and medicinal user. And Blue Dream isn't alone in that regard, which demonstrates an industry-wide problem, especially when you consider that the rest of the Top 7 do much worse in this category, having variances as high as 82% and 83% for Gorilla Glue and Green Crack respectively.
A Solution in the Making: Finding the "Right" Chemical Profiles and Recreating Them to Target Specific Feelings and/or Ailments.
Fortunately for MyDx users, brand names take a back seat to chemical profiles as MyDx tracks data based on sensory responses, interpreted chemical profiles, and an associated feeling or relief. So while you can't trust the brand name you purchase, you can Trust and Verify® chemical profiles and track how those profiles make you feel using MyDx, which has created another opportunity: green Active Pharmaceuticals Ingredients (gAPI)
"I believe extraction and formulation into a concentrate that can be delivered consistently to help patients find relief for their ailments and symptoms is the next logical step to achieving some level of consistency in the industry," stated Daniel Yazbeck, Chief Executive Officer of MyDx.
Since the inception of MyDx's handheld testing device, MyDx has been accumulating data tying the net physiological effects of cannabis to its chemical profile and is the only company in the industry that actively collects this sort of data with such specificity. And this has created a whole new business segment that is tied to the pharmaceutical industry.
MyDx is using its data to isolate and discover which green Active Pharmaceuticals Ingredients (gAPI) are tied to a particular physiological effect in order to create chemical formulations that can be used to develop products that address specific ailments and/or feelings.
"We are finally getting to the heart of what ailments people are tracking and more importantly, what unique chemicals profiles are helping them find relief," stated Yazbeck. "By mining this HIPPA Compliant Data, we are now identifying the specific green Active Pharmaceutical Ingredients (gAPI) that can be derived from cannabis, as well as the dosage of each ingredient that should go into a formulation so it can be tailored for a specific therapy. This information not only supports an active engaged community, but also provides the basis for our Company to partner, sell and supply smart devices and formulations to the various communities we service so they can benefit from tailored cannabis therapies that meet their specific needs."
To Learn More about Cannabis Testing, MyDx Technology, and the Science of Cannabis 2.0, please download the MyDx White Paper.
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 AquaDx®, OrganaDx™ and CannaDx™ sensors are now commercialized, and the AeroDx® application is next in line. All sensors will be compatible with a MyDx App that empowers consumers to live a healthier life by revealing the chemical composition of what they eat, drink and inhale. For more information, please visit www.cdxlife.com.
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.
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