MedX Holdings Is a Garbage Cannabis Stock

I wrote negatively about MedX Holdings (MEDH) in May, discussing that it was a potential penny stock scam, and it appears, three months later, that it is. They issued another press release today, discussing their Q2. This company has seen its stock price drop a lot since I wrote about it, currently big at $0.0005 and offered at $0.0008 with a last trade at $0.0008, up 60% from the $0.0005 close yesterday. The trading volume is 75K shares, which amounts to less than $60.

The company's CEO, Hans Enriquez, is wasting his time, and I don't want you to waste your time. The press release was pretty bad, if you ask me. The company says that it is on track to do $1.5 million in 2025. Who-hoo!

The press release ended with a big lol:

A Note to New Investors

If you believe cannabis is crossing the chasm—from prohibition to regulated mainstream—we’re building the platforms (lounges + tech) that capture that shift. Talk to us. We’re prioritizing strategic capital and partnerships that accelerate openings, technology deployments, and market entries.

The company filed its disclosure today at OTC, and it is sad:

www.otcmarkets.com/file/company/financial-report/487930/content

690 million shares outstanding, so market cap of $550K, but this is before all of the preferred stock (85 million shares held by insiders.There is convertible debt too.

The balance sheet shows cash of $17K, which is up slightly year-to-date. Current assets, though, are dwarfed by current liabilities that are $680K vs. only $156K. The total liabilities are $5.3 million, and tangible equity is very negative. The loans outstanding are held by related parties. SCAM!!!

Year-to-date revenue has been $722K, but the company has operating income of just $8698. LOL!!! Operating cash flow in the first half of 2025 has been -$164K.

I don't cover this joke of a company, but, based on what I have seen in this press release, the OTC filings and the stock action, I would be very careful with this garbage.