Fortitude Group, Inc. (FRTD)

[Slojab]

Btw, this ticker started out as SPRA, Spur Ranch, when John Stanton, currently serving time, was involved. It didn't get any better when it became RNDER, Rounder, with Norm Birmingham. Then, it hit the skids as FRTD and Tom Parilla when he got banned by the SEC from running a public company after the fraud he perpetrated involving his entry into the marijuana market.

https://www.goerie.com/news/20190818/erie-businessman-agrees-to-sec-ban

Who in their right mind would use FRTD to R/M into? I expect Finra to remove the ticker eventually.

[Slojab]

If a ticker gets off the greys, it wouldn't have mattered if it went to the "Expert Market" first, or at all. A ticker like FRTD or any other dead and seemingly abandoned ticker being placed on the Expert Market will have no impact.

[Golden Cross]

I dont know all about it Slojab... Below is what I have experienced so far as to what I have experienced when stocks get moved there...GL

It is a new market... Supposed to make it easier to trade in and I think it is easier to trade based on the two stocks I traded that went to the expert market...One, SOLI, went to the pinks later also... I hope this helps some and I could be totally wrong... GL... $FRTD

https://www.otcmarkets.com/files/OTC%20Markets%20Promotion%20Data%20Specification%20-%20v1.1.pdf

Quote:
Expert Market Private market to serve broker-dealer pricing and best
execution needs in securities that are restricted from public
quoting or trading. Restrictions can be based on issuer
requirements, security attributes, investor accreditation and/or
suitability risks.

[Slojab]

Duly noted. But why do you disagree?

OTC Markets came up with a sub tier for the Greys. Most stocks on the greys are already mired in obscurity and are destined for removal. FRTD has no reason to trade so making it easier for MMs to execute trades is irrelevant.

[Golden Cross]

I disagree Slojab $FRTD

[Slojab]

Yes, DD the "Expert Market". Making it "easier" to trade when there's no reason to so is a joke.

[Slojab]

That means absolutely nothing.

[MyLife78]

Thank you for the info and it looks like I need to do some more DD on this stuff... lol.. good luck to you as well... and hopefully something might happen here sometime...

[Golden Cross]

Hi MyLife78... It is a new market... Supposed to make it easier to trade in is my belief and I think it is based on the two stocks I traded that went to the expert market...One, soli, went to the pinks later also after moving to the expert market.. I hope this helps some...Gave you a follow #2...TY and GLTU in your trading... $CYPE

https://www.otcmarkets.com/files/OTC%20Markets%20Promotion%20Data%20Specification%20-%20v1.1.pdf

Expert Market Private market to serve broker-dealer pricing and best
execution needs in securities that are restricted from public
quoting or trading. Restrictions can be based on issuer
requirements, security attributes, investor accreditation and/or
suitability risks.

[MyLife78]

What is that expert market thing... I’ve been following you I’m new to this. Lost on FRTD and that was it for me til recently... I still have FRTD stock

[Golden Cross]

$FRTD Tier Change = Grey Market to Expert Market

OTCM Link
https://www.otcmarkets.com/stock/FRTD/disclosure

[Slojab]

Trading to the 6th decimal is the lowest a sp can go, so 5.

[10bambam]

How many zeros can be placed to the right of the decimal of a stock price?

[Slojab]

That's a shame. There's a back story to FRTD that a lot of people didn't look into. I only came to follow this ticker when Parilla took it over because of it's origin, dating back to when the ticker was SPRA and a guy named John Stanton was involved in what was an obvious scam operation. He's now serving time in prison for tax evasion and there's a board dealing with him here on iHub.

https://investorshub.advfn.com/Stanton-Scams-EFTI-USSE-USSP-USEI-OSSG-8471/

You can see the provenance of the ticker at OTC Markets. It got turned over on a regular basis, which says a lot in itself.

https://www.otcmarkets.com/stock/FRTD/profile

When SPRA became RNDR, the scam was orchestrated by a guy name Norm Birmingham, whose scam was equally obvious. When Parilla took over, everyone just accepted the fact that he was a scammer as well.

Too bad you weren't an iHub member back when you first got into FRTD. It may have saved you a few bucks.

[MyLife78]

I put about 15k I have no clue didn’t have any experience with stocks and I talked to him on the phone several times personally. Thought about taking a drive to Erie I’m just few hours south

[Slojab]

I guess a civil lawsuit is possible. But I doubt, or would sincerely hope, that no one put so much into this that it would be economically feasible to do so.

[MyLife78]

Nice.. thank you... I’ve found some miscellaneous things also. Periodically checking in.... unfortunately I still sit on a bunch of this garbage. Can’t someone file lawsuit against company for pump and dump lies he made. I spoke to him on the phone several times straight up lied.

[Slojab]

Came across this update tonight.

https://www.goerie.com/news/20190818/erie-businessman-agrees-to-sec-ban

[MyLife78]

Thank you. I received a message from SEC rep from Miami branch. When I called him back he has yet to return my call.

[Slojab]

This is the latest update.

https://www.goerie.com/news/20181123/new-judge-to-get-sec-case-against-erie-businessman

[MyLife78]

Does anyone know anything with the SEC lawsuit against Thomas Parilla...

[janice shell]

I'll take a look when I have some time.

[makinbacon1]

Janice you should go look at ungs I think it is one of the bigger scams I the otc

[Slojab]

Perhaps THUNDER can explain how this relates to FRTD?

[Dollars and Cents]

[Slojab]

They're on the grey market. They can't get into anything.

[Daybull]

Is FRRD getting into the cryptocurrency market?

[janice shell]

I agree. He deserves it.

[Slojab]

Not to be too vindictive but I'd sure like to see them pursue his sorry ass to get something from him that'll hurt.

I'll just have to cross my fingers and hope.

[janice shell]

I don't know. That might depend on whether he has information they want, or whether he has enough money to make chasing him worthwhile.

If he'd had useful info, though, probably they'd have been willing to settle with him before now.

[Slojab]

We'll probably never know. Will the SEC pursue him, do you think?

[janice shell]

I wonder if he's really in "new" Mexico.

[Slojab]

Thanks for the update, fuzzy.

It seems Parilla can't be bothered to do anything properly. Even defend himself against the charges against him.

[fuzzymcilwoods]

http://www.goerie.com/news/20170304/ex-erie-penny-stock-company-found-in-default

A former Erie-based company that traded in penny stock has lost a fraud lawsuit by default to the Securities and Exchange Commission.

The case, involving civil charges of a "pump-and-dump" stock scheme, is heading toward the same resolution against the suit's other defendant, who is the company's chief executive.


A federal judge on Friday ordered the default judgment against the company, the Fortitude Group Inc.

U.S. District Judge Barbara Rothstein granted the judgment at the request of the SEC and upon the recommendation of U.S. Magistrate Judge Susan Paradise Baxter, who ruled against Fortitude in U.S. District Court in Erie on Feb. 10.

Baxter is next due to review a request for default that the SEC filed on Tuesday against Thomas J. Parilla, the CEO of the now-defunct Fortitude, formerly at 1001 State St.

The SEC filed the motion for default against Parilla for the same reason it filed one against Fortitude — because the defendants failed to properly respond to the suit the SEC filed against them on Feb. 29, 2016.

Fortitude never filed a response. Parilla, representing himself, filed a five-page motion in April asking to dismiss the case. The motion was in the form of a letter rather than the proper format for civil filings, and the SEC said the motion was without "any cognizable argument."

Baxter in December ordered Parilla to file a proper motion to dismiss by Jan. 13. He did not, which led the SEC to ask for a default judgment.

In granting the default judgment against Fortitude, Rothstein permanently enjoined the company from violating SEC rules against providing false and misleading statements.


The SEC wants Parilla fined and banned from participating in the sale of penny stock, which typically sells for less than $1 a share. Parilla said in his dismissal motion that he is a victim and did nothing wrong.

He could not be reached for comment on Friday. A person who answered the phone at what had been Parilla's Erie residence said he had moved to New Mexico.

The SEC is claiming Parilla artificially inflated, or pumped, the value of Fortitude's penny stock so he could sell it, or dump it, to make money.

The SEC is claiming the scheme involved Fortitude making false statements about its purported entry into the legal marijuana industry in Colorado three years ago. Fortitude claimed its portfolio included a purported marijuana vaporizer called "VaporVites," according to court records.

Penny stocks are not listed on the New York Stock Exchange or other major exchanges, but are traded via electronic services such as the Over-The-Counter bulletin board. The stocks are considered highly speculative and volatile, which can lead to big gains and losses.

[Slojab]

I'm sure. ( :

I hear there are more successful ventures in the works from Attorney Andrew Stack of Spicewood, TX

Just like the "successful" venture he had right here as CEO with Spur Ranch back in 2010? That was quite a scam he orchestrated with John Stanton. And New Green, the company before that, was a great scam run by Craig Huffman. Then, there was Baruch, Birmingham and a host of others, ending up with Parilla.

Btw, do you know how he came by the ranch he owns in Spicewood?

[devnullmoney]

I hear there are more successful ventures in the works from Attorney Andrew Stack of Spicewood, TX

[Shatman21]

Any news on this pig,they ready to load the lipstick????

[I-Glow]

PHOT is still "Unsolicited Quotes Only" and the price is down 98% since the suspension - so using it as example of doing well after a suspension doesn't provide much optimism for FRTD shareholders.

IG

[Slojab]

Every situation is different. If people want to hang their hat on lightening striking twice, so be it.

It's their money, not mine. Seems to me like a lame reason to put one's hard-earned money at risk. But then, if it's money they can afford to lose, then, by all means let them lose it.

It's not like $70 is a lot of money.

[sage davisky]

thats what they said about PHOT. IT relisted and is doing quiet well this week. never say never.

[Slojab]

You know very well that this ticker was suspended and now resides on the greys.

Starting a rumor on this ticker is useless.

[Dollars and Cents]

The rumor-mill has started up on this one. I wouldn't be surprised if this takes off like $SPM.

[Slojab]

SEC rejects Erie businessman's claims

By Ed Palattella
814-870-1813
ETNpalattella


Erie Times-News


May 7, 2016 12:36 AM


An Erie businessman is claiming he is the victim in a penny-stock scheme that led the Securities and Exchange Commission to sue him.

The SEC is pushing ahead with the case.

The agency wants a judge to deny Thomas J. Parilla's request to dismiss the suit, filed in U.S. District Court in Erie in February.

The SEC is contending that Parilla, who is representing himself, failed to make "any cognizable argument" in his dismissal motion, filed April 18.

Parilla wrote the five-page motion as a letter, rather than in the standard format for federal civil filings.

The SEC cited the procedural flaws in asking a judge to deny Parilla's motion. And the SEC discounted Parilla's statement, in the letter, that he wants a judge "to instruct the SEC to complete a full investigation" of other people Parilla claims victimized him.

Parilla's "rambling narrative," wrote the SEC's lawyer, James M. Carlson, of Florida, "does not provide any actual argument related to dismissing the Commission's Complaint. At best, it offers his version of certain events, which he believes either exonerates him or should lead the Commission to other potential defendants.

"None of what Mr. Parilla states offers a justification -- in any way -- for dismissal of the Complaint."

The SEC sued Parilla and his former company, the Erie-based Fortitude Group Inc., over claims they participated in what is known as a "pump-and-dump" stock fraud.

The SEC is claiming Parilla artificially boosted the value of Fortitude's stock by issuing false news releases about Fortitude's involvement in the newly legalized marijuana industry in Colorado in 2014.

The SEC is claiming the news releases said Fortitude had "successful marijuana-related partnerships and operations" when none existed.

Parilla is claiming others wrote and approved the news releases, which he said he believed to have been accurate.

The SEC wants Fortitude and Parilla, 51, fined and wants Parilla banned from participating in any offerings of penny stock, which typically trades for less than a dollar a share.

http://www.goerie.com/article/20160507/NEWS02/305079951

[Slojab]

Novices to the world of OTC seldom fare well. The learning curve is a bitch!

[MorningLightMountain]

a big hint is a security that has/had ANY connections to incarcerated John Stanton.....

a search for "Stanton" (in 2014 alone) for this board brings up many red-flagged clues:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102647278

[ronk]

Yup! I had no idea what I was doing. 2014 was the Summer of Scam.

[Slojab]

Tough way to learn a lesson, eh?

[ronk]

Just to recall the day it went grey and the first time I was caught in a scam & lost my money on greed. I placed a sell order that day I think it was the Friday before labor day & I believe it was just after the press release regarding a deal with a (undisclosed) Native American Tribe operating several casinos and some kind of marketing database for casino customers worth millions? (WTF?) The press releases about some nut job money making scheme were coming out twice a week at that point. It was silly. But THAT day.. I remember that day.

I invited my parents down for a barbecue and was dogsitting my inlaw's mutt. While prepping the grill, I checked my phone to see if my sell order went through. To my alarm, the thing was halted. I was a naive infant trader swimming with sharks all of a sudden. My very first slap in the face investing. (I've had other's since.) Googling grey markets, pooling over message boards in a panic. I had $2400 in this!! How could it just disappear?! I knew it was a scam. Shouldn't have went near it.

That's when I realized, while setting up the grill, I left the gate open and my inlaw's mutt was in a gallop through the alley heading for a busy intersection. In my already panic-stricken state I ran after Bailey and rather than grab the dog by the collar, I put my hand on her hip; whereupon she (being in a state of panic as well) reached around and sunk her incissors directly into my right hand.

The pain was searing. Not a good day. Lots of red both figuratively and literally. But the scars on my hand remind me of FRTD so I check back once in a while. I sold the final lot last Dec for the write off. If Parilla is trying to pass it off like he is a patsy? No. Then you were in bed with something you shouldn't be and should pay a price just as I was in bed with this at one point (like a moron) & lost $2400. I fell for another one shortly after that. That one, Jim Kras was the head lemming over the cliff & he's sits comfortably collecting a check with another very popular MJ stock now, fleecing others. It wasn't money lost as much as it was tuition to a school that wants to brainwash the naive and take your lunch money. Learned a lot. Up yours Parilla. While I'm here.. Up yours Kras. Cheers!

[Slojab]

Parilla was a bad man. ) :<

So was Welch.

But no one has to worry about him any longer. ( ;

[StockGod]

Did that like 3 years ago.