Calyx (CYX.V) confirms it’s neck deep in the blockchain movement, jumps 52%

I’m beginning to think Calyx Bio-Ventures (CYX.V) just enjoys screwing with us.

If you read back through the last severalteen news releases from the jet fuel-cum-weed-cum-tech company, chances are you’ll notice a theme; they don’t like to actually tell you what their news is.

They’ll talk around it, and explain concepts to you, but the actual meat of the story? That’s always left for you to figure out.

And so it is again today with Calyx’s latest newser, which I’m going to title, “Wherein we talk about blockchain technology, and a part of that technology that we’re employing, but not about the companies we’re talking to about giving us money for it.”

I say this because I’ve asked the question of the company, “Who are you doing business with,” about 18 times in the last 18 weeks, and each time I ask, I’m told that’s confidential, that they’re running pilot programs, or that the companies in question don’t want to be part of their marketing.

Okay. Fair. But at some point, you’ve gotta fess up. Are we engaging blockchain tech for Uncle Wilbur’s Bait and Tackle, or are we employing it for Telus?

Calyx Bio-Ventures Inc. (TSXV: CYX) is pleased to announce its has finalized its strategy to implement next-generation blockchain features into its commercial application platforms.

Roger Forde, the Chief Executive Officer of the Company, noted “we have seen blockchain evolution in the past with generation 1 being the emergence of Bitcoin, generation 2 being Ethereum, and generation 3 could be the introduction of smart contracts and twin-chains. This next step is very important as it will bring blockchain technology into a far wider array of uses and users. Calyx plans to utilize this blockchain technology to manage future transactions within its proprietary software platforms, and may even consider the launch it’s own digital currency to be utilized in conjunction with the Company’s various market place applications (presently under development). By aligning our vision with the vision of the market leaders in the sector, leveraging the possibilities that this next generation blockchain technology poses, will allow Calyx to better execute its current plan and evolve the business in a flexible and innovative manner.”

Gaaah!

Financials don’t give us much to go on either, as the last three months filed showed a $41,000 figure on revenue, which was admittedly up significantly on the $16,000 three months before that, but barely more than the company spent on regulatory costs.

No, Calyx isn’t a profitable concern just yet, but that’s not keeping CEO Roger Forde up at night. He’s got money coming in on a private placement financing and warrants are in the money.

Also, he’s got a company that’s up 52% this morning.

So what’s the actual plan? The differentiator? The sizzle?

Mr. Forde continued, “although blockchain is very likely the most secure and best technology to utilize to eliminate potential discrepancies amongst disparate systems, problems arise when it becomes necessary to make critical updates, bug fixes, and upgrades. When a change must be made to the way a crypto currency works, the changes must be made very carefully to keep the new version of coins compatible with older coins. This can present a big problem to many when discrepancies leave two ledgers operating instead of one. This precise problem is referred to as a ‘fork‘, and the panic that ensues when a crypto currency finds itself in such a situation is a big problem we now see emerging.”

Get the fork outta here.

“As such, we have taken careful measures to assess the latest in blockchain development as we grow and evolve our product offerings. We have identified a third generation blockchain technology that is being proven out by a specific group who we see as world leaders in the sector. This technology allows for complete technological evolution that can be implemented into the core ecosystem of the blockchain backbone without compromising the security, compatibility and historical accuracy of the blocks and ledgers.”

Now, I’m not sure whether CYX is using this technology, investing in the technology, or owning it. But it’s clearly a good thing that it’s out there.

The question right now isn’t, is Calyx in blockchain? It’s ‘how is Calyx in blockchain, and for who?’

— Chris Parry

FULL DISCLOSURE: Calyx is not an Equity.Guru client, but there’s been talk.
 
NB: Pursuant to a resolution passed by the directors dated Nov. 27, 2017, Calyx Bio-Ventures Inc. changed its name to Calyx Ventures Inc. effective as at Feb. 5, 2018. The ticker symbol CYX is unchanged.