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All 5 current Canadain MMJ growers are completely privately owned and privately funded. Tweed leased 160,000 sq ft of a 460,000 sq ft Hershey's plant and has announced that they are seeking to go public. They will be the first and only publicly traded MMJ in Canada when that happens...
There are standard guidelines from Health Canada published on their website (was posted and discussed yesterday). I'm pretty sure I read that Tweed already has plants in the ground according to the article yesterday:
"Tweed, which has a licence to produce up to 15,000 kilograms of marijuana annually, already has about 10,000 plants under cultivation."
They are direct competition to FITX and mean one less license up for grabs now.
http://www.ottawacitizen.com/business/Medical+marijuana+licence+granted+Tweed+Smith+Falls/9441097/story.html
http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php
He's given so-so opinions of PHOT but never mentions FITX. I expect that if FITX does anything to stabilize PHOT's standing in the next few months he will lighten up on us too.
Not to drag the subject out but it's showing as their high today.
Day's Range: 0.0685 - 1.10
Imagine how the guys that paid over a dollar this morning for HEMP feel right now that it's at $0.07
Same side here... Perhaps my explanation was confusing but I was simply saying the disclaimer from the WSJ was because they didn't generate the content, not because it was a paid ad
Lot is located here according to all available data:
20 N Rear Rd
Tecumseh, ON N0R 1K0, Canada
Or
20 North Rear Road, Maidstone ON, N0R 1K0
(20 North Rear Rd. Just south of Manning and 401 interchange)
https://maps.google.com/maps?ie=UTF-8&layer=c&z=17&iwloc=A&sll=42.230624,-82.872423&cbp=13,260.0,0,0,0&cbll=42.230635,-82.872341&q=20+North+Rear+Rd,+Maidstone+ON,+N0R+1K0&ei=Qw3nUojHBMfaoASV7oCoCQ&ved=0CCsQxB0wAA
It's a press release...
5w or CEN or PHOT or a combination of them all created and sent it to the WSJ. That doesn't make it fake. It just means that it wasn't being covered by the WSJ or a reporter. That statement is meaningless. Every single ad or classified ad in a newspaper qualifies as the same thing.
The newspaper was not involved in the subject matter. Same as when an infomercial comes on TV. "The views expressed here do not necessarily reflect the views of our station"
Same lot and address I gave you yesterday. Those are pictures of the buildings already on site. One is supposedly a solar "farm" and there is a barn or something out front...
Old news...
That story is from August and so far they haven't made any moves to get into this industry directly. I don't ever see a point that Mon won't be in a position to swoop in and take the reins when they see something they like.
No, it's not...Construction is supposed to begin this week on a 58,000 sq ft grow facility. The pictures posted are the location but they only have 27,000 sq ft there currently.
Yep. Canada IS the middleman. They are expecting their cut to be $1.3 billion dollars from all sales of all approved growers over the next 10 years. There is quite a bit of controversy about that however since Canadian citizens have won several legal battles allowing them the right to grow their own medicinal marijuana. They believe that the March 31st order is in violation of the law.
According to conventional wisdom, not too subtle hints and wild speculation, the deal with PHOT was already ironed out BEFORE they made the presentation to Arcview and was just awaiting the i's to be dotted and t's to be crossed.
It did...Other growers in Canada have also put out the very realistic $100 million figure in the short term. Bill says he can pull $4 billion at 80% even after costs and PHOT skimming off the top now so we shall see what he makes of it.
Fully operational with $100 million+ in revenue to back them up they are a legitimate $0.13/$0.14 pps company with this current share count. Let's not put the cart 1,000 miles ahead of the horse just yet...
As I understand it, FITX gets $40 million from PHOT now in exchange for 7.7% of their annual revenue. PHOT sells their own shares to specific people for $0.17 to raise the capital and then they can turn around and sell them for $0.30 if that was the scenario...
There is a bill going to the house today to legalize hemp in the US again after 50 years attached to the Farm Bill. That's why they are moving...
I'd like to see the brokerages even post the WSJ article to one or the other of these companies. There hasn't been a official "news" update to FITX since Jan 3rd.
You're seeing the positive affects right now...
Their pps is $0.17, they can execute them at whatever the going stock rate is. It's essentially no different than employee stock options. The company sets a quarterly price that is (hopefully) lower than the current market price and you can buy or sell. For instance, my company's stock is at $108 and I can buy for $101...
To raise the $40 million, they are going to designate specific high value investors to offer shares to buy at $0.17. Once they are all sold, they have their $40 million "seed" money and the investor just got shares at a 30% discount or whatever it is at the time.
Yep, on the WSJ news I'm in again for 70k
Build funds - check.
Materials ordered - check
Construction beginning - check
Photos - pending
I can run with that
None of the approved MMJ companies in Canada are publicly traded. That was what made FITX so attractive to begin with...
They are privately owned and privately funded by public figures. They hope they can generate $100 million a year eventually from MMJ.
Here at Eglin, AFB this week myself...where it's snowing, I might add...
I agree with you completely...I just have MJ on the brain this month and thinking ahead too...There is no doubt that if they establish a fully functional farm in WE they will be in a much better position financially to start working on building a US one.
It just occurred to me that it would not be in the US's short or long term interest to import MJ unless they import taxed it so heavily that it would not be worth it for the buyer or the seller. Up until my brain vomited that out, I was going on the basis that they could grow in Canada and sell in the US when the time came... Then I came to the conclusion that that just wasn't going to happen for multiple political and economic reasons stateside.
Yes, I understand that. I'm just saying that currently there is a 70/30 rule already in place to control inventory. Distributors already have to grow 70% of their own supply to comply with the law. To the best of my knowledge, they are only allowed to obtain that other 30% to augment their stock from a US approved distributor. I don't see Washington making an exception for that...Canadian weed will get the same rep as Mexican pills...
No argument there...
That just struck me as funny that even if the US does change their laws FITX, an American company, would be completely out of position for the change.
You know who needs tax money and jobs from MJ? Detroit and Michigan...
I am neither optimistic nor pessimistic. I am realistic.
How ironic would it be if FITX spent all this effort and built a dispensary in Canada and more US states legalized MJ and aren't allowed to import it. Back to square one...
Like I said, if they even *start* construction by Monday like Bill said I'll take a gamble on a 4th helping.
Yes, in 10 years they anticipate 400,000 recipients. Would you still be here waiting in 10 years for them to get a license from Canada Health?
The only real obstacle is time. Other distributors are already getting approval all around Canada. I haven't seen the number of applicants they are going to approve but this isn't occurring in a vacuum. They have 37,000 - 40,000 registered MMJ recipients they need to provide for after March 31st at this point. That number will increase over time but is a very small customer base to supply and there are already approved growers.
This can probably answer your questions better than I can at this point.
http://www.hc-sc.gc.ca/dhp-mps/marihuana/index-eng.php
Two different approvals...
They've had approval to build a satisfactory grow site since November. Once they complete the construction, and have everything up to spec., Health Canada will inspect the facility to determine if it meets their guidelines for being a government approved grow site.
IF IT DOES, then they can apply for a grow licence from Canada to begin their operation.
Any concerns I have with other stocks I feel are well founded. They lost my faith and have every open opportunity to regain it.
I have no such issues with PHOT. I am looking forward to Feb. 7th as are many others knowing that it has tremendous potential. PHOT still has like 250 million shares in reserve now as I understand it and has not seen the need to cash in on every single share yet. I wholeheartedly believe they will show just as much restraint and responsibility with any additional shares.
I can only assume that you are referring to my focus strictly on the A/S vote itself as was asked? Seemed to me, the question was if we are going to make or lose money if they voted to go ahead and issue the shares. I thought I was being reassuring. I can only guess at what is going to happen to the price from trading afterward. I'm sure that will be insane... If you have a better answer, then by all means speak...
Theoretically, it shouldn't do much of anything to the stock price if it is implemented as it has been explained so far. The existence of the stock isn't as much of an impact if they withhold it from the public and only release it when necessary. If they just flood OTC with another 2 billion shares then technically your share value just dropped by 2/3rds. How it affects the current shares is all in how it's implemented...
Ahh. Yeah, that would explain it...
Yes. There will be 24 hour surveillance of the site streamed to their website. Health Canada requires heavy security and surveillance of any grow sites so they are planning to put it to good use in the meantime. Every single seed even needs to be RF-ID tagged...
Once they are installed of course...