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I know, MADD. I've looked into it all. It looks sketchy at best. And why am I not allowed to be the voice of concern amongst all of the cheerleading taking place here. If I'm swaying anyone's opinion then it's because they've read at least some of what we all have and see what I do while others refuse to.
I have my prerequisites to invest, as we all do. I invested based on their claim that they had received a distribution license. While we later found out that was not true. That hasn't stopped them from displaying it on their web page still. Since that initial humongous oops, I have trouble believing anything that comes out of CEN. If they or anyone else want my money or any vote of confidence from me then something that has come out of them since this all began needs to be put into action.
I read it. I read ALL the stuff everyone in here posts. It sounds great. Now let me see it in action...I appreciate the articles. I appreciate the updates. I appreciate the excitement. I all sounds swell. But it's all a hope and a prayer that they come through. Why is it so unacceptable to wait until they build something to justify their claims? They are in exactly the same place they were 3 months ago.
I'm not bashing the company. I'm not after your stock. I'm not pushing another company on anyone. I am honestly interested in where this company is going but since November I haven't seen them make any progress, just a lot of noise. If they build it. I'll be there. If they steal everyone's money and move to Bermuda. I'll still be around here...just somewhere else.
Let's not be too overdramatic...
Stock price is $0.04, not $400. If 15 year olds can flaunt about owning FITX on CEN's FB page I suspect it will be at an accessible price to the masses for a very long time. After enjoying the recent frenzy while I was otherwise bored at work I see no reason to rush to get stock back in this fledgling company.
As a show of good faith in return for a show of good faith, I will re-invest in them when they willingly or unwillingly give reason to deserve another cent.
If they are successful and profitable and have any longevity then even when they hit a dollar they will still be the company to own...
10 years from now whether they are a $100 million dollar company reaching for a billion or a 4 billion dollar company reaching for 10 they will still be a good investment...and people will invest. People didn't stop trading Netflix or Google just because they are over $1 now...
If their pinnacle of success is that their stock price hits $0.08 in two months and they fade away I think every one will be okay with what they got or didn't get. I already make money mostly just sitting on my ass all day with or without this company and until one single thing they have hyped up is fulfilled then I have no reason to put any trust in them to complete their task.
People on FB requesting pictures of the initial work this week are being deleted. Seems like they would personally commemorate their monumental accomplishment and want to share it with their investors...Assurance level: 40%
OK, deal :)
I'm 50% sure that his FB post is legit. I'll be 75% sure when I see a picture of a backhoe, cement truck, guy in a hard hat...I'm easy to please...And I'll be 100% sure when there is a CCTV camera installed that something is happening. Whether you buy in at .01, .05, .25 or $2.00, if this is going somewhere it will keep on going.
He can always retract the statement 2 weeks later...as long as he does it in a public forum so everyone has a fair chance to take note. Though, I'm pretty sure this is at least a 10% go by now. Lease holder is rolling in cash from the shares he got in November. Everyone is making money pretty consistently. It would be idiotic not to keep pushing the envelope further if they can.
Progress is promising. Promises are empty...
Seed (investor) money...stock went from .002 to .064 in a couple of weeks. I'm sure someone had some money laying around afterward.
It's on google maps...
Silent Solar Tec Inc
20 North Rear
Maidstone, ON N0R 1K0
I'll rebuy into this stock at whatever price it's at on Monday if you show me a picture of foundation footings that were even *started* Friday over the weekend, Invest...
Reuters Global:
1/25/2014
market cap: 170.30M
shares outstanding: 3405.97M
float: 2726.40M
Looking right at it...
I was simply stating the facts that Reuters reported, man. I could care less if FITX makes a dime or not. Doesn't seem to affect how their stock trades. I congratulate us all on our winnings here. Good luck to you, them and us as far as I'm concerned.
As far as your comments on the O/S and A/S...
https://commerce.us.reuters.com/purchase/showReportDetail.do?docid=44255582
You have to pay $20 for the Jan. 25th report direct from Reuters Global but my brokerage lets me see it for free.
As of 1/25/2014, there were 3,405,970,000 shares with a float of 2,726,400,000. According to the latest verifiable data, as of June 30, 2013 their revenue decreased 42% to 3.2M. Their operating costs increased by 26% to 2.6M. and had lost $500,000 for the year by that point.
Their current trading price is 31.23x greater than their sales and 137.31x their book value. As of June they were operating with a -46% profit margin.
Sounds like a winner...
Yeah. At the point that it actually has something of value in return for it's share price
Fair enough...If that makes them a multi-million dollar company that isn't strictly riding on misquotes and misunderstandings and misinterpretations; I just can't see it. I really tried to get behind FITX. They were the first MJ stock I grabbed up...
And what has changed between November when they picked a site to grow, December when he made the projection, and January when he went from $100 million @ 80% and we can can already grow to $4 billion @ 80% and we can't grow for at least 7 months? Nothing but the share price...
Well that's where I was drawing my figures from so if they are wrong then there you have it...
I just double checked and e-trade is reporting 29.15M market cap today and Yahoo is reporting 26.71M...dunno which one is actually correct
http://finance.yahoo.com/q?s=FITX
They have already revised, improvised and subdivided those boasted figures. Their goal for the first 5 years is $100 million @ 80%.
On Jan. 24th, the market cap was $143 million. Today I think it closed at $29 million... I'm just saying at lot of people took home a share of it, not just IHub.
Those home-grow licenses expire March 31st of this year, which is why "April" is their construction complete target time frame. $90 million dollars vanished from FITX last week so someone, somewhere, besides just us, got a large transfusion of wealth to put to good use...
Anyone that would care is so far removed from it affecting them in the least that it isn't even funny... $90 million dollars disappeared from the market cap in 2 days and no one even batted an eye lol
I'm not sure what is so confusing...
If you go to http://www.cenergynutrition.com/press.php, CEN's press page. It says right in the middle of the screen when you open their PR page:
"The company has received approval from the country’s health department to grow, distribute, import and export medical marijuana and seeds via its Canadian subsidiary, CEN Biotech, according to Creative Edge CEO Bill Chaaban."
This is absolutely FALSE. Bill has retracted that and any and all statements regarding their ability to grow MJ since the Forbes article. Yet anyone that goes to CEN to do even basic research on FITX sees right there that "Bill said...".
Bill looks like a pretty old, wise guy from all of his years as a business genius that has tons of experience taking companies like this, that are currently worth $50,000 in assets and cash on hand and $30 million on paper and turning them into multinational, multi-billion dollar globe stormers. What was the last company he raised from the ground to...anything?
Everyone's eyes rolled in unison when I commented on that earlier...I'm sure you'll get a similar response, Bulls...
Thanks :)
The article was revised, as noted at the bottom:
*Correction: The company has been issued permission to build its cannabis facility. Upon completion it will be inspected by Health Canada for a permit to begin operation. An earlier version of this post stated the company had already been approved to begin operation.
I find this EXTREMELY interesting:
Robert, 100% agreed. Forbes should issue a correction on this article. Especially considering that Creative Edge is not approved to grow marijuana (their own website even says so). So the whole premise of this article is a lie. And every single country they mention for export is a major producer anyway. Strauss, was this a press-release or an article? Not only did you not fact-check, you did not spell-check. Colombia is the country, Columbia is the university you went to.
Forbes issue a correction, if you have any ethics.
Odd then, that NOW their PR page you linked specifically quotes this article saying that they ARE legally authorized in Canada.
"talented at picking small-cap stocks..."
Here is a sample list:
http://investing.money.msn.com/investments/industry-top-stocks?Category=Cap&Choice=2
http://www.forbes.com/pictures/elld45eehdl/15-small-company-stocks-you-should-own-now/
Please note that not ONE of them is trading for under $5.
Jim Shaban = Bill Chaaban? Ok, if you say so TK ;)
How about this then...
direct connection with complete with links included...
Jim Shaban owner of:
Silent Solar Tec Inc
20 North Rear, Maidstone, ON N0R 1K0
Shaban recently agreed to a 20-year contract with the provincial government to place solar panels on the roof of his proposed studio and finance it through payments from the province in return for Shaban supplying solar energy to the hydro grid.
http://ca.news.yahoo.com/photos/entrepreneur-jim-shaban-left-using-solar-panels-fund-photo-20101217-104544-715.html
http://www.zoominfo.com/p/Jim-Shaban/1557261134
http://www.choosewindsoressex.com/sites/all/themes/weedc/documents/PR_20101216.pdf
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 (look right)
http://finance.yahoo.com/news/cen-biotech-inc-leases-property-050000641.html (look familiar?)
I was just giving him the courtesy of knowing that the "DD" he found was an admitted fabrication that was reported by the CEO two weeks after the Forbes article and 10 days after the date of the article plastered on their website still now 24 days later... It's not DD if it's not true.
Oh, and by the way...it was Creative Edge's own page.
No, it wasn't your post...
It was the fact that they still have the article saying :
"The company has received approval from the country’s health department to grow, distribute, import and export medical marijuana and seeds via its Canadian subsidiary, CEN Biotech, according to Creative Edge CEO Bill Chaaban."
They also have a link to a Dec. 30th article in Forbes magazine, which is no longer there and now links to a different story from Dec. 20th on Forbes' website:
http://www.forbes.com/sites/jacobsullum/2013/12/20/a-p-poll-finds-falling-resistance-to-marijuana-legalization/
Because as Bill stated on FB:
A note of clarification for our shareholders. I was misquoted and misunderstood in the Forbes interview. We are at the ready to build stage. Once we build, we call Health Canada for a pre-license inspection. We ARE NOT currently licensed. After seeing the error in the article I press released the clarification in the headline of the press release and referred to the Forbes article. I also press released the flow diagram of the licensing process. And this error has been clarified in every subsequent interview and online on the CEN Biotech website. Thanks bill
So, nothing wrong with your post...just the page it linked to.
Yeah, that's the statement he recanted on their FB page 10 days later.... You say they just updated it? Or the fact that it's even still there...Nothing suspicious about that...
I would really love for someone to show me where they got $12 million dollars from...If they took a loan and diligently report to their shareholders that they added a huge liability, somehow got a grant, or turned a loss of millions of dollars last year into a $12 million dollar profit this month in any imaginable way I'd think that would be FB post worthy...don't you?
There are far more attractive, established, organized and financially solid companies for "big tobacco" to absorb than this. As I said, I'm a skeptic, wanting to believe in something, anything, this company alludes to.
They leased the property back in November...I suspect that is why the GNC order also from November is, as of last update, still unfilled....
They had already "invested" that prior to the announcement in January that they were investing $12 million into the area. And as Janna said, the deal appears to have been in stock, not cash...
If you want to include that, I see that as fair, but unless that lease was valued at $12 million by itself, "intent" is so far all they've given.
Until they publish this and last quarter's financials we don't KNOW that they have spent one dime of that pledged $12 million dollars, do we?
It just makes me very...anxious.
I'm not saying it's an awful company or that Bill's heart and head aren't in the right place. Or that I don't want them and everyone else to succeed...
The only way they even start building by April is if they get the money next month. The only way I know of that they get the money next month is as a GIFT. The only way that GIFT is even available is if 2 billion shares are released and ravenously consumed...which then has to be cashed in on to get the money back out...
Agree...
I think it is hilarious that anyone thinks this is in any professional investor's portfolio or a money manager is leveraging this to grab every tenth of a cent out of it. I hop in and out of it but this stock sketches me out worse than just about any other stock I've ever traded.
They have nothing more going for them than the people sharing the pipe dream that this is going to make them millionaires. They all share a vision...and an empty bank account.
- THEY DO NOT HAVE A LICENSE IN CANADA. Bill even states he was "accidentally" quoted stating that to Forbes and then retracted it later after the news was off and running. CEN's FB post from Jan 13th states this in black and white. Once and ONLY once they have the building finished will they even get a pre-license inspection from Health Canada.
They don't have the money for expansion.
They still don't have the product to fulfill whatever order GNC placed.
The likelihood of them getting any money from GL is tenuous at best. It is just as likely that GL takes CEN down with them as solidify their combined market position. Most people aren't going to take kindly to the idea of losing 2/3 of their stock value at a predetermined time. Most people also don't like the idea that these two companies individually have issued more shares than even Google and still can't muster up the money from their existing assets.
Just my two cents worth... until there is one single shred of evidence that this is going anywhere but up in smoke I'll never take it seriously.