Latest news with #BioTrack
Yahoo
20-05-2025
- Business
- Yahoo
MedX Holdings, Inc. (OTC: MEDH) Announces Record Q1 2025 Revenue and Strategic Advances Across Cannabis, Retail Tech, and Franchise Growth
Austin, Texas, May 20, 2025 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE MedX Holdings, Inc. (OTC: MEDH) Reports Record Q1 2025 Revenue and Announces Strategic Milestones in Retail Technology, AI, and Cannabis Expansion Austin, TX – May 20, 2025 – MedX Holdings, Inc. (OTC: MEDH), the parent company of Lazydaze + Coffeeshop and Dazed Inc., announced its unaudited financial results for the first quarter of 2025 along with key strategic developments that continue to position the company as a leader in cannabis retail, technology, and lifestyle franchise operations. For the quarter ended March 31, 2025, MedX Holdings delivered its strongest financial performance to date, driven by accelerating revenue growth, solid gross margins, and improved operational efficiency. Revenue more than tripled year-over-year, fueled by expanded retail activity, strategic acquisitions, and increased consumer demand across the Lazydaze franchise network. The company maintained a healthy gross margin profile, improved cost control and strong unit economics. Net income surged to a new high, reflecting a significant turnaround in bottom-line profitability. MedX also reinforced its balance sheet strength, increasing total stockholders' equity while successfully reducing liabilities—a clear signal of momentum and prudent capital management heading into the next phase of expansion. MedX is currently raising $10 million through a convertible note offering to support its next phase of growth. Executives are actively engaging with investors and financials groups , and aniticiapates clsoing the round by end of Q2. The proceeds will be used to complete a full audit, fund capital expenditures, purchase pre-roll manufacturing equipment, and secure flagship retail properties in key markets. The company also announced the launch of an AI-driven commerce initiative, which includes the development of mobile vending machines powered by proprietary artificial intelligence technology and the rollout of AI Budtender and Barista agents on These enhancements are designed to streamline online pickup, delivery, and in-store operations while improving the customer's user experience across current and future Lazydaze locations. In collaboration with Revel Systems and Shift4, MedX is co-developing a first-of-its-kind point-of-sale system tailored for dispensary, hospitality, and retail hybrid environments. This fully customizable platform will ensure compliance with state traceability systems such as METRC and BioTrack. This solution will be offered to other cannabis operators nationwide through Smart Brand Digital, bundled with secure payment processing solutions. MedX also confirmed its active pursuit of licensing and strategic partnerships to establish a consumption lounge in Las Vegas. Additionally, the company's recently acquired operation in Albuquerque, New Mexico, Lazydaze ABQ LLC, is scheduled to begin hemp pre-roll manufacturing in Q2 2025. These products will be distributed through stores in Texas and other future retail markets. Lazydaze is also proud to announce its newest franchise located just blocks away from the University of Texas in Austin, Texas. Hans Enriquez, CEO of MedX Holdings, stated, 'Q1 performance proves our model is working. From record sales, franchise growth, utilizing AI, embracing blockchain and a new POS system built for the future of cannabis retail, we're executing across all fronts and ready to move faster. We are committed to building MedX and Lazydaze into the go-to platform for cannabis hospitality, social experiences, retail technology, and community culture.' About MedX Holdings, Inc. (OTC: MEDH) MedX Holdings is building a portfolio for cannabis retail, hospitality, and technology through its subsidiaries, including Dazed Inc., Smart Brand Digital, and Lazydaze + Coffeeshop. The company is focused on franchise development, cannabis/hemp retail innovation, and regulatory-compliant tech solutions for the industry. Our mission is to deliver exceptional products and unforgettable hospitality experiences through our Lazydaze +Coffeeshop brands and franchises. We are committed to leading the industry by developing and expanding a successful portfolio of licensed and franchised brands. For more information, please visit and Follow us @medxholdings and the CEO @the1onlyhans on X Forward-Looking Statements This release contains forward-looking statements within the meaning of the federal securities laws. Actual results may differ materially due to various risks and uncertainties. Contact Information:Raji Bhakta- President Operations / IRMedX Holdings, Inc.210 438 2750raji@ ### Attachment MEDH Press Release Phamceutical Sales 5.17.2016 CONTACT: Phone: 877-225-0243 Email: kathy@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
25-04-2025
- Associated Press
Illegal Out-of-State Cannabis Products Discovered for Sale in Licensed New York Dispensaries, Undercutting Local Equity Operators, Farmers & Processors
NEW YORK--(BUSINESS WIRE)--Apr 25, 2025-- An alarming new investigation released by members of the New York Medical Cannabis Industry Association has uncovered that illegal cannabis flower - smuggled in from the West Coast - is being sold in licensed dispensaries across New York State. Lab-verified findings confirm that at least two widely available brands, Heady Tree and Runtz, were not grown in New York and entered the state illegally. Bulk quantities of out-of-state products easily made their way into New York and on to the shelves of legal stores because New York regulators have not implemented a track-and-trace system. Advanced testing from a fully accredited Office of Cannabis Management lab in conjunction with academic partners analyzed the cannabis flower to identify pesticides, soil type, and metals and determined with high probability that the cannabis from these brands was grown on the West Coast. Findings can be found here. Additional testing is ongoing to verify other brands suspected of nefarious activities. While cannabis is legal in a growing number of states, it is still illegal federally, meaning that cannabis cannot be distributed across state lines. All cannabis sold in New York must be grown and processed within the state's borders - a regulation designed to support local farmers, protect public health, and ensure legal tested, products generate tax revenue that benefits all New Yorkers. 'Even one product from out of state ending up on a licensed dispensary shelf is unacceptable,' said Ngiste Abebe, spokesperson for the New York Medical Cannabis Industry Association. 'The fact that multiple brands were found at multiple stores shows we have a systemic failure. The lack of a standardized track-and-trace system is directly enabling this problem. The Office of Cannabis Management has had over two years since adult-use sales began, but we still don't have BioTrack fully implemented. That's inexcusable, and its hurting compliant businesses most of all.' This growing problem - known as 'inversion' - occurs when cannabis grown in oversaturated markets like California, Oregon, and Washington is illegally diverted into newer markets like New York where cannabis processors and distributors purchase it for heavily discounted prices. It undermines the integrity of New York's regulated cannabis system, robs compliant businesses of shelf space and sales, and cheats the state out of vital tax dollars. To stop inversion, the OCM must immediately implement and enforce the BioTrack seed-to-sale tracking system, a system selected by NY State, to safeguard the legal market, protect consumers, and support licensed New York operators. Transcripts from a February 2023 OCM Control Board Meeting discuss the anticipated availability of BioTrack in March 2023 with a 60-day implementation period. Nearly two years later, BioTrack is still not in place. Without the urgent implementation of BioTrack, the illicit market will continue to grow inside the very system designed to replace it. Every day that the illicit market is allowed to grow has devastating consequences for the whole cannabis industry. The illicit market is actively harming cannabis sales which slows down the opening of new dispensaries and the diversification of legal products, stalls job growth, and harms patients in New York by curbing growth of the medical market. The chief priority of the OCM should be implementing BioTrack to stop illegal cannabis from making its way into New York. About The New York Medical Cannabis Industry Association (NYMCIA) The New York Medical Cannabis Industry Association is comprised of Columbia Care, Cresco, Curaleaf, Green Thumb Industries, The Botanist and Acreage NY, iAnthus, and Pharmacann. Our mission is to protect and serve the patients in New York's medical marijuana program while leading the way for the adult-use industry across the state. Learn more about NYMCIA at View source version on Media Contact: Samantha [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT CANNABIS SPECIALTY LAW ENFORCEMENT/EMERGENCY SERVICES WHITE HOUSE/FEDERAL GOVERNMENT AGRICULTURE STATE/LOCAL NATURAL RESOURCES PUBLIC POLICY OTHER POLICY ISSUES ADVOCACY GROUP OPINION RETAIL PUBLIC POLICY/GOVERNMENT SOURCE: New York Medical Cannabis Industry Association (NYMCIA) Copyright Business Wire 2025. PUB: 04/25/2025 12:38 PM/DISC: 04/25/2025 12:38 PM
Business Wire
25-04-2025
- Business Wire
Illegal Out-of-State Cannabis Products Discovered for Sale in Licensed New York Dispensaries, Undercutting Local Equity Operators, Farmers & Processors
NEW YORK--(BUSINESS WIRE)--An alarming new investigation released by members of the New York Medical Cannabis Industry Association has uncovered that illegal cannabis flower - smuggled in from the West Coast - is being sold in licensed dispensaries across New York State. Lab-verified findings confirm that at least two widely available brands, Heady Tree and Runtz, were not grown in New York and entered the state illegally. Bulk quantities of out-of-state products easily made their way into New York and on to the shelves of legal stores because New York regulators have not implemented a track-and-trace system. Advanced testing from a fully accredited Office of Cannabis Management lab in conjunction with academic partners analyzed the cannabis flower to identify pesticides, soil type, and metals and determined with high probability that the cannabis from these brands was grown on the West Coast. Findings can be found here. Additional testing is ongoing to verify other brands suspected of nefarious activities. While cannabis is legal in a growing number of states, it is still illegal federally, meaning that cannabis cannot be distributed across state lines. All cannabis sold in New York must be grown and processed within the state's borders - a regulation designed to support local farmers, protect public health, and ensure legal tested, products generate tax revenue that benefits all New Yorkers. 'Even one product from out of state ending up on a licensed dispensary shelf is unacceptable,' said Ngiste Abebe, spokesperson for the New York Medical Cannabis Industry Association. 'The fact that multiple brands were found at multiple stores shows we have a systemic failure. The lack of a standardized track-and-trace system is directly enabling this problem. The Office of Cannabis Management has had over two years since adult-use sales began, but we still don't have BioTrack fully implemented. That's inexcusable, and its hurting compliant businesses most of all.' This growing problem - known as 'inversion' - occurs when cannabis grown in oversaturated markets like California, Oregon, and Washington is illegally diverted into newer markets like New York where cannabis processors and distributors purchase it for heavily discounted prices. It undermines the integrity of New York's regulated cannabis system, robs compliant businesses of shelf space and sales, and cheats the state out of vital tax dollars. To stop inversion, the OCM must immediately implement and enforce the BioTrack seed-to-sale tracking system, a system selected by NY State, to safeguard the legal market, protect consumers, and support licensed New York operators. Transcripts from a February 2023 OCM Control Board Meeting discuss the anticipated availability of BioTrack in March 2023 with a 60-day implementation period. Nearly two years later, BioTrack is still not in place. Without the urgent implementation of BioTrack, the illicit market will continue to grow inside the very system designed to replace it. Every day that the illicit market is allowed to grow has devastating consequences for the whole cannabis industry. The illicit market is actively harming cannabis sales which slows down the opening of new dispensaries and the diversification of legal products, stalls job growth, and harms patients in New York by curbing growth of the medical market. The chief priority of the OCM should be implementing BioTrack to stop illegal cannabis from making its way into New York. The New York Medical Cannabis Industry Association is comprised of Columbia Care, Cresco, Curaleaf, Green Thumb Industries, The Botanist and Acreage NY, iAnthus, and Pharmacann. Our mission is to protect and serve the patients in New York's medical marijuana program while leading the way for the adult-use industry across the state. Learn more about NYMCIA at
