MyDx Inc (OTCMKTS:MYDX) today unveiled its earnings results for the fiscal year 2017 alongside its management analysis. It is hoping to achieve immense success in inline with the expansion of the CannaDx community as well as in the capitalization of its diverse consumer-generated database.
The company is determined to do all that it takes to ensure that it attains long-term sustainable growth and profitability. The first move it wants to make is diversifying revenue streams as well as expanding the data base by a significant margin. The second move will be to scale up the CannaDx gross margin.
MyDx Inc’s gross profit margin in the 2017 fiscal year according to a person well conversant with the matter scaled up by about 73%. And that the gross profits remained at an almost flat level. The company hopes to succeed on its quest to execute its long-term strategy since that will help it increase its relevance in the market.
Daniel Yazbeck, who is the current CEO of MyDx CEO while moving out of a business conference that was held recently, came across a number of journalists who wanted him to comment of the latest developments in the company.
Recent moves by the company
He stated that it was a great move for the company to settle for Dr. Dreismann as its next Chairman of the Executive Advisory Board. He disclosed that the top official was an expert in the area of molecular and medical diagnostics and that with his great track record he would assist the company to achieve immense business success.
The aim at the moment is to serve the large number of consumers with the wide range of the MyDx diagnostic tools. Dr. Dreismann has had a rather impressive career and the board members of the company have welcomed him hoping that he will be an active member as well as a major contributor to the overall success of the company.
Dr. Dreismann opined, “I intend to bring my experience and contacts, which I believe can create real opportunities for our business as we develop products and seek licensing partners for our technologies.”