"We are here to empower people to live a healthier life by creating a practical way for consumers to test & understand the chemicals & effects of what they eat, drink, & inhale."
On April 5, MyDx announced its first nationwide distribution deal valued at over $4 million with one of the world’s leading brands of horticultural lighting ballasts, Petaluma, California-based Nanolux Technology. With over 1,000 retail shops in its distribution network, it has an extensive footprint throughout the US indoor agriculture and hydroponic marketplace concentrated in states with cannabis sales legalized in some form -- especially California as the US’s largest legal cannabis market. MyDx’s three target market sectors for CannaDx are consumers -- and growers and dispensaries, both of which are considered prosumers.
Analysts project the legal cannabis market to triple to $17 billion by 2020. While sales and distribution are tightly regulated, product quality is not which is fueling demand by consumers and prosumers alike. CannaDx enables its owners to get chemical test results, within five days.
To meet the accelerating demand, MyDx recently announced a manufacturing agreement with Arrow Electronics, Inc. (“Arrow”) for its MyDx product line. Arrow is a Fortune 150 company and global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions, with 2015 sales of $23.28 billion.
Starting with the Company’s recently commercialized CannaDx chemical analyzer, Arrow will manufacture the MyDx chemical analyzer product line and provide end-to-end supply chain management. It is extending MyDx highly favorable financial terms which enables the Company to manage cash flow with a high degree of capital efficiency. Arrow will also support the Company with its research and development through its advanced R&D staff and facilities.
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