1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Valuation
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
MXRX
Sector
Consumer
Subsector
Food Products
Offer Range
—
Shares Offered
13.05M
—
Implied Upside vs Midpoint
Description
Med-X, Inc., a Nevada corporation founded in 2014, focuses on developing, marketing, and distributing natural, eco-friendly products. The company is dedicated to providing innovative solutions in pest control and consumer wellness products, addressing the growing demand for sustainable alternatives across industries. Our product lines include Nature-Cide®, Thermal-Aid®, and Malibu Brands, each targeting unique market needs. Additionally, Med-X operates The MJT Network®, an online media platform providing cannabis-related content and advertising opportunities. Our business model leverages strategic partnerships, e-commerce platforms, and direct sales to generate revenue. By combining innovative product development with an emphasis on environmentally conscious practices, Med-X is positioned to capitalize on expanding market opportunities in the natural products sector. Acquisition of Pacific Shore. In 2018, Med-X completed its acquisition of Pacific Shore Holdings, Inc., a California-based company. This acquisition integrated Pacific Shore’s existing product portfolio, distribution networks, and intellectual property into Med-X’s operations, significantly enhancing the company’s capacity to innovate and scale its product lines. As part of the merger, Pacific Shore became a wholly owned subsidiary of Med-X. To protect shareholder value, Matthew Mills, Med-X’s Chairman and CEO, tendered a substantial number of shares, ensuring minimal dilution for existing shareholders. Pacific Shore’s contribution includes a strong distribution network for its Nature-Cide products, an established presence in the pest control and wellness markets, and a pipeline of innovations aligned with Med-X’s vision. The acquisition has been instrumental in expanding Med-X’s reach and operational capabilities, particularly in leveraging Pacific Shore’s pest control expertise and regulatory compliance frameworks. Nature-Cide. Nature-Cide is Med-X’s flagship product line of minimum risk pest control solutions. These products, developed in collaboration with Pacific Shore, are designed as botanical alternatives to traditional pesticides. Comprising essential oils like cedar, cinnamon, clove and cotton seed, Nature-Cide products are safe for humans and pets, making them ideal for residential, commercial, and agricultural use. Nature-Cide’s product range includes: · All-Purpose Insecticide: Marketed for use against common household and agricultural pests, including ants, cockroaches, and fleas. · Pest Management X2 Plus: A professional-grade solution for pest control and Public Health Operations. · Granular X2 and Dust Formulations: Designed for all types of pest control within agricultural, commercial, residential as well as cannabis cultivation. Nature-Cide products are classified as minimum risk pesticides under the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA), exempting them from federal registration. The products are registered in multiple states and distributed nationally through partnerships with pest control distributors such as but not limited to Target Specialty Products (TSP), BWI Companies, Inc., Ensystex (ETX) Forshaw (For), Preserve (Pre), Site One (SO) and Veseris (VES). Additionally, Nature-Cide has a growing presence in United States and international markets, including the Caribbean and parts of Asia and has registered and been shipping Nature-Cide into various countries such as Thailand, Singapore, Vietnam, Mexico and New Zealand. The product’s appeal is bolstered by increasing regulatory restrictions on toxic pesticides, driving demand for safer, natural alternatives. Med-X continues to invest in research and development to expand Nature-Cide’s applications and market reach. The Company is working with Multiple of its distributors to register products with South America, Australia and various other countries. Thermal-Aid Thermal-Aid is a line of heating and cooling products intended for general comfort and wellness use for humans and animals The product range includes: · Thermal-Aid Zoo®: Child-friendly, animal-shaped heating and cooling packs. · Thermal-Aid Headache Relief System®: a product designed for consumer use in connection with head and neck comfort · Traditional Thermal-Aid Packs: for general comfort applications, including use following physical activity. Thermal-Aid products are made from all-natural materials, including a proprietary corn-based filler that retains temperature for extended periods while preventing mold formation. The Thermal-Aid line is distributed through e-commerce platforms like Amazon and Iherb, retail chains pharmacies such as Kroger, and independent pharmacy’s as well as healthcare-focused distributors. Malibu Brands The Company markets products under its Malibu Brands division, which currently includes its Pacific Pain Relief Cream, a topical product formulated with naturally derived ingredients. The product is offered primarily through the Company’s e-commerce platform. The Malibu Brands product line currently consists of this product, and the Company may develop additional formulations in the future. Pacific Pain Relief Cream is formulated using a combination of topical ingredients commonly used in over-the-counter wellness and personal care products. The Company focuses on consumer-oriented formulations intended for consumer product use. The product is sold directly to consumers through the Company’s online storefront, and the Company may in the future explore additional distribution channels, including retail, wholesale, and third-party marketplaces. The Company is also engaged in the research and development of additional topical wellness formulations that may expand the Malibu Brands product portfolio. These potential products remain in development, and there can be no assurance as to the timing of commercialization, regulatory classification, or market acceptance of any future products. Although the Company has explored product formulations that may include hemp-derived ingredients that are permissible under applicable law, the Company does not currently cultivate, distribute, manufacture, or sell cannabis or hemp products. The Company does not operate in the cannabis industry and does not directly participate in the cultivation, processing, distribution, or sale of cannabis or marijuana products. Statements regarding product performance, effectiveness, or potential applications are based on preliminary testing, internal evaluations, or third-party observations. Such statements have not been independently verified and there can be no assurance that similar results will be achieved in commercial use. The Company does not make claims regarding the effectiveness of these products for any specific medical or therapeutic purpose. The MJT Network The MJT Network® is Med-X, Inc.’s online media platform hosted on www.marijuanatimes.org, which has been publishing cannabis and hemp industry news since July 2015. The platform generates revenue from advertisers and traffic optimization strategies and provides content covering a broad range of topics, including news, current events, business, financial, legislative, legal, cultural, medical, scientific, and technological aspects of the cannabis and hemp industries, both nationally and internationally. Content is contributed by consultants, freelance and staff writers, Company personnel, and public news sources. The MJT Network is accessible through web, smartphone, and tablet applications, with its original content distributed via digital platforms such as iOS applications, Vimeo, YouTube, Apple Podcasts, and Apple News. As of the beginning of 2026, the Company is evaluating the potential integration of e-commerce capabilities into the MJT Network platform, which could enable the sale of branded industry products from third-party suppliers and the Company’s own product lines, subject to compliance with applicable federal and state laws. The Company has not commenced development of such e-commerce functionality, and no definitive timeline has been established for its potential implementation. Distributors Med-X generates most of its revenue through large distributors, with its Nature-Cide products distributed by several pest control distributors, including VESERIS, SITE-ONE, TARGET SPEICIALTY PRODUCTS, ENSYSTEX, BWI Companies, Inc., PRESERVE and FORSHAW. These products are also available through major marketplaces such as Amazon, Kroger, and Walmart, and they are increasingly supplied to TARGET SPEICIALTY PRODUCTS 's parent company, Rentokil Initial International, as well as through ENSYSTEX in countries like Singapore, New Zealand and Vietnam. For the year ending December 31, 2025, Med-X derived 31% of its revenue from two customers, 19% from Veseris and 12% from Target Specialty Products. In 2024, For the year ending December 31, 2025, Med-X derived 31% of its revenue from two customers, 19% from Veseris and 12% from Target Specialty Products. In 2024, 29% of revenue came from two customer, 16% from Target Specialty Products and 13% from Veseris. Med-X’s relationships with distributors are demand-driven, operating as a supplier within their distribution systems without written agreements. The lack of formal contracts introduces uncertainty, as any significant reduction in purchases by major customers could materially impact the company’s financial performance. This revenue concentration is expected to persist for the foreseeable future, and the company acknowledges the potential risks associated with this dependency Vendors Med-X relies on single supplier relationships for raw materials and filling capacity due to the unique formulation and components of its product lines. This reliance poses a business risk, as operational issues or supply disruptions from these vendors could adversely affect the company’s operations. In 2025, two vendors accounted for an aggregate of 80 % of total purchases: · Berje: 42% · Actions & Company: 38% In 2024, two vendors similarly accounted for an aggregate of 76% of total purchases: · Berje: 50% · Actions & Company: 26% While Med-X recognizes the risks associated with this vendor concentration, the company believes that alternative suppliers are available to provide comparable inventory if significant vendors become unable or unwilling to deliver on time. In the future, Med-X may plan to explore the possibility of expanding its manufacturing operational footprint within its 30,000 square foot facility to increase efficiencies by adding automated filling, labeling and in-house formulating at scale to bring down the cost of goods as well as ease the potentials risks associated with vendor concentration. --- We were formed in February 2014 in Nevada. Our subsidiaries consist of Pacific Shore Holdings, Inc., a Delaware corporation, and Pacific Shore Holdings, Inc., a California corporation. Our executive offices are located at 8236 Remmet Avenue, Canoga Park, California 91304 and our telephone number is (818) 349-2870. Our website address is www.MEDX-RX.com.
| Metric | Value | Peer median | Among peers | |
|---|---|---|---|---|
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||