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Company doesn't have $ in the bank to pay the CEOs 15k Salary let alone trips to vegas. He was making deals there so he says, why wouldn't the company cover his entire stay?
The coming 10K should show where all the $ to do the marketing trips and pumps came from. One hopes.
He has a track record you can dig into on your own and see what he is referring to.
What the company reports is all that matters.
"FBEC Worldwide, Inc. CEO Jason Spatafora stated, “After consulting with new corporate counsel regarding the previously stated share reduction amount, I have been advised that the previous 1.5 billion Authorized Share reduction figure could be detrimental as it does not leave the company a prudent reserve or allow for any type of future expansion. As the reduction is made our goal is to leave it reduced, instead of raising it later on.”"
That can be interpreted as a major influx of issuance's coming that will cause the OS to ballon... so yeah, to me, the AS matters.
LOL! AS Doesn't matter? I've read that on a lot of other tickers boards too.
5 billion AS is a low SS!? LOL
It's always a possibility in the OTC when a companies outstanding shares are so spread out over unfriendly parties. Rinse and repeat.
Good trade! I hope you made some $.
I would see FBEC doing an RS to clear out the previous managements involvement and % ownership.
If the 10K is as bad as it sounds like it will be, it might be necessary to fix the company in the market.
Prob closer to .035-.03 channel, lots of selling into the buy at the bid price.
Running thin on PRable news.
Late filings.
High management fees.
Hopefully ppl made money on the pump.
Oh is he saying he's a millionaire? That's rich.
'Who is in charge of this company?!"
A stock promoter.
Whatever it takes to keep the pump going I suppose.
No one wants to be left holding when the bottom drops.
If the share transaction counts up to 11am are accurate then you would be able to see that a great deal of today was selling into the bid...
Tale of the Tape...as of 11:09am.
Number of trades 130.
Number of shares bought/sold on the ask....490,173
Number of shares sold/bought on the bid..1,158,767
Interesting to see how much more selling will be done with this recent PR.
Excerpts from the PR
"FBEC has contracted celebrity muralist Jasmine Dearden better known as "Jasnine" to create a mural to artistically represent FBEC's WolfShot(TM) "
Hope all the free drinks and commissioned art pieces doesn't put a dent into FBECs checkbook.
Briefly checked the last 10Q filed in June shows FBEC has "0" for Cash on hand.
Agreed. .035-.03
Scott12 said:
"Tale of the Tape...as of 11:09am.
Number of trades 130.
Number of shares bought/sold on the ask....490,173
Number of shares sold/bought on the bid..1,158,767
Number of shares traded with a ? ....11,763."
The dumping I think is ongoing.
Ya, you are prob right about dangling the A/S.
Prob PR the Qrtly filing that's already late as well.
At least the PRs so far have be predicable according to the pump.
They should spool up again after it goes back to .03
1 sale online does not constitute success, nor justify the current market cap.
What new CBD product, they don't own right to any new ones do they?
The JV that was disclosed comes with a 6,000,000 security issuance to a company that hasn't apears to have not made any sales of their own product.
FBEC has 1 employee making 15k a month in compensation.
I agree that this current pump is very profitable for those that know what is happening and can see what's coming. Make your money while you can IMO.
Agreed it would be a good PR to add to this pump. Lovin it.
Great work for FBEC market to push with no sales and 1 employee IMO.
A recent PR indicated there will be 6 Million restricted issued to the JV partner for no tangible value returned. They were paid in shares to enter a JV.
That's the most recent issuance to expect that's been disclosed.
Exactly.
"As our current shareholders know, and for prospective shareholders just finding us, roughly two months ago myself & my team took control of FBEC Worldwide Inc from its prior management."
Does anyone know who the people on the CEOs team are? They aren't listed as employees and no compensation has been mentioned about them.
Bless them if they are doing work pro bono out of the goodness of their hearts...If they aren't...FBEC should disclose who they are and what they are doing for the company as well as what their compensation will be or what debt the company will incur as a result either through monetary compensation or more likely, security issuance based on debt accrued.
I certainly hope it's throw away money, I do hope you make $ though.
His ego is pretty big.
GLTU!
Translation: FBEC got involved with a company that spent a bunch of money bottling a product they haven't been able to sell.
What's the shelf life on that stuff? Sounds like it's been sitting for awhile.
Good way to drive volume in the market though.
Would be nice if they sold something to show the company has potential past putting out PR after PR.
Let's hope no one that's holding shares here gets caught with a loss in their portfolio because of it.
Please list off the success the current CEO of FBEC has had in the past.
I see people posting that he is great and is extremely successful but no facts to substantiate it.
I am aware of his past work as a promoter of companies that didn't seem to do much either in the market on with real business activities. They would PR a lot about what they intend to do, signing of LOIs and 8k agreements but no real work seemed to have been done.
This you can research on your own through his twitter feed history and the stock promotion websites he's helped to create or been a part of using google.
So maybe I'm biased as that is the only real information out there about this CEO.
If you have other information please share it.
MaBrand only has 10,000 units made of it's own product ready for sale as per the FBEC PR. No confirmed sales.
6,000,000 shares for signing a JV is a GREAT deal for that company. Remains to be seen how it will benefit FBEC.
Hopefully it all becomes justified with sales that surpass the 15k a month needed to pay the CEO and only employee of FBEC and now also to cover the added costs of this new JV and create profits for FBEC.
Assuming the profit margin is within industry standards they would have to be selling around 50k-75k bottles a month to pay the bills.
6 million shares for a 1 year agreement and they don't have to do much, I'd take that deal all day. Especially if I haven't made any sales. From what I can tell, neither company has.
On a side note... where is FBEC going to get the money to pay for consolidated financials by the end of the year they have to produce now they have a LLC under it's umbrella?
"FBEC shall also issue CBD 6,000,000 shares of restricted common stock over the coming year."
-No guidelines on what milestones on issuance. Great idea to have an open ended agreement like that.
"CBD Globe has invested over $200,000 in production and development of the Ma brand and already has 10,000 units packaged and ready for sale"
Does anyone know if they have made any sales either? No real sales, no revenue.
Keep the printing presses going.
Bingo.
Please specify where that information RE quantity is, a link if possible, I can't find reference.
The only numbers disclosed in an FBEC PR recently was this
" CBD Globe has invested over $200,000 in production and development of the Ma brand and already has 10,000 units packaged and ready for sale."
A different company making a different product that they haven't sold but have pre made 10,000 units...sitting on a floor somewhere for all we know.
Is this what you're referring to?
Please be accurate.
CO-packers get paid for their services, sometimes up front if the company they are doing business with doesn't have a credit account with them.
So if they are being paid for the work he isn't doing, where did those funds come from? Is the CEO paying for things with his CC?
1 employee company.
If the CEO, Shipper/receiver is in Vegas, how can he box up an order, print the shipping label off the computer (Does FBEC own any computer equipment?) to ship the product that seemingly is available online?
Ya! 3% REAL hemp juice in every bottle.
1.77 ML of hemp juice in every bottle...wow.
180mg of caffeine though, that'll get you up in a hurry.
"Who would know the COGS of WolfShot? :( "
Cost per bottle of shots without medical ingredients or exotic nutrients like the Wolfshot are produced in high volume at 30-40 cents per bottle, that is an all in cost to get it to the point of sale.
Low volume runs can be $1+ per bottle dependent on the supplier and # of bottles produced.
For example, if the video FBEC posted of the bottles rolling off that old heat tunnel was to be taken at stock value. That could be a couple hundred bottles (a few gallons). 85 shots/US Gallon.
I've estimated that run shown in the video cost $250- $500.00 USD to produce.
However, FBEC did not disclose any details regarding the volume produced.
It takes one board meeting, a couple signatures and some postage to get it done in a perfect world. 30 days is ample time to accomplish that if all the "ducks are in a row" as they say.
Whatever problems they are having with that process whether intentionally delaying or not, FBEC hasn't disclosed. If they don't have the vote to do it from the SHs it won't get done.
As I recall there was some mention of the old CEO being vested a great deal of shares. Those shares while supposedly not trade-able, should carry a vote.
Look to who controls the vote and you will see who controls the company. The CEO answers to them.
How often do you see that in the OTC?
Maybe the CEO of FBEC slept in and forgot because he was up late on that Vegas trip that he posted on his instagram smoking and partying. Maybe that's why?
He offered you a venue in public to ask him all the questions you want and you refused. Remember that.
I think he mentioned he was going back to the craps tables too.
So close to that .04 call someone made the other day! Oh they would have been so right.
I can agree to .04 potential.