Email response from Rossi today
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I have extremely limited time to be able to answer your questions as it sits, especially since I’ve answered the exact same question about eight-or-nine times today, alone.
I need to naturally assume that most shareholders have no real idea on how general securities work and how stock goes from treasury to the open market. There is plenty of documentation online for this, I simply do not have the time to explain the process.
What is disappointing is that there are all kinds of questions about the “float” and none about the “issued and outstanding”.
First stock becomes “issued and outstanding” and then, at the shareholders discretion it “hits the float”.
So, if there have been no questions or controversy about the “issued and outstanding”, as the number is unchanged since at least Q1, the float has nothing to do with anything.
The difference between “Issued and outstanding” and the “float” is that we need to issue the stock (then it is counted as “Issued and outstanding”) and then, when the shareholder deposits it the stock, it is considered “in the float”.
So, again, _____ – I ask you – if the Issued and Outstanding has not changed or is not in question, what is the problem? Second, the “issued and outstanding” is the only real number the CEO has access to. I cant log into a computer system and click “what’s my float” and get a figure. It just doesn’t work like that. I can click a button and see what has been issued and is outstanding but when our shareholders / investors wish to deposit and sell their stock, is truly their own right and has nothing to do with us.
So, if I own 112MM shares (at this time) and the I/O, per our Transfer Agent, is 222MM – then we should just assume that the float is 110MM shares. Sure, it may not be 110M today, but at any given moment on any given day, without any of my control, it can be come 110MM shares, in the float.
So, lets get to business.
First I ask that you share this with your friends, family, strangers, people on the street, StockHub, and any other medium so I am spared the mindless task of copying and pasting this a million more times, as it insults my integrity.I simply do not play with words.
First – if you (anyone reading this, not _____ in specific) do not trust me, my company, how I answer questions, or my direction of the company of which I am in charge of – sell all of your holdings in FNHI at the first moment available. I certainly would never exchange my hard earned money to own a piece of something controlled by someone I believed to be a liar, or simply did not trust. Then do not look back. There are thousands of great publicly quoted companies accessible to invest in. I know that this comment seems harsh, but I say it with love. Life is simply to short to spend speculating, mistrusting.
Second – I cannot share information with you, or with select shareholders, that I do not share across a news wire or OTC’s website, to all shareholders. Please keep this in mind.
Third – Putting two and two together, if the Issued and Outstanding has not increased and has not been put into question, then how is it possible for me to have “sold stock”? It would show up in the issued and outstanding first before it shows up anywhere else. So no, I am not selling stock to pay for my audit. I am not selling stock PERIOD. I am selling Truxmart products available on eBay, AutoAnything.com, and most dealers in the North East USA and across Canada. Not stock.
I haven’t sold stock. I don’t even have a brokerage account.
Stock is restricted from the date of issuance for six months.
As the CEO, I can only sell 1% of the issued and outstanding every rolling 90 days. But first I’d need a brokerage account, which I do not have.
In 2017, so far, we have issued a little over 11,000,000 shares in relation to a few different things we’re working on but I do not suspect that those investors are selling their stock and I believe that that stock is still restricted and likely cannot be deposited while we are delinquent.
We are not selling stock to pay for our auditor.
To the roughly 5% increase to our issued and outstanding for the year I can say a few points
A) The cost basis for those shares is rather high and I do not believe those investors would be selling, if they are even able to. Again, typically brokerage accounts do not accept share deposits from a delinquent issuer.
B) Within 2017, we traded millions of shares at less than a penny – please keep that in mind. I would suspect the shareholders that bought millions of shares while we were trading so low would see a 10X return on their stock at this price point
C) Yes, we have issued and increased our ISSUED AND OUTSTANDING by 5% but I also intend to retire up to 100MM shares (between 80-100MM shares), which gives back half of the issued and outstanding. That said, as much as issuing 11,000,000 shares this year for various reasons and purposes – retiring 80 or 100 million more than compensates for that. I am volunteering to retire my common shares as a gesture of good faith to my loyal and kind shareholders. Although I cant select who is a shareholder of FNHI I am retiring my common share holdings of FNHI because I will only earn through profits from our revenues, not from stock. The only wealth I will have from my stock is from the ownership / control aspect of Truxmart and future companies (should there be any acquisitions or new companies started that I own), in the event of an enviable acquisition – but I am not interested in selling my company at this time so it looks like I’ll get paid from our revenues and profits.
I am going to assume you know this already, but I cannot simply “sell stock” and have never done so. That is the plain and simple truth.
My short term goals are (in no order)
A) Audit
B) Q1
C) Q2
D) CSE dual listing completion
E) OTC QB
F) Financing / Capital raise at reasonable rates to private investors (to be announced next week) – use of proceeds is strictly for Inventory and R&D
G) Revenue growth
H) Finalization of Helios (and alpha) model development
I hope the time I took to more than address your question(s) helps in one way or the other.
Warmest regards,
Steven Rossi
Truxmart
