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Since we love lawyers here on the FITX board and everyone is always throwing around the fact that Bill is a lawyer and that the entire board are lawyers, and how that gives them super-human abilities maybe we would be interested in an unbiased opinion from a lawyer.
"“You can’t have an industry where they say, ‘We can put you in jail for the rest of your life, but we probably won’t today,” says Sam Kamin, a University of Denver law professor."
Inside The Pot Stock Bubble
Not trying to be a smart-a$$ but it would appear I am not the only one.
maybe. maybe.
So far they all look like they are managed by shady characters engaged in some pretty complicated deals, just moving assets from one to another to make it look like there is some sort of "progress" being made.
I'd settle for an atheist dictator. I vote libertarian, every time.
That's all hypothetical and we have an election coming up. And, it misses my point. That point is that you cannot have a true industry built on such "trust me. we won't arrest anyone, . . . today", ground. No respectable company, and by that I mean non-pinky, is going to touch MJ in a serious way until the legal implications are removed. There are no serious players in this market. They are all of the CANV variety, all of them skirting the law (in more than just the basic product).
I wish the feds would just abandon the whole "war on drugs" crap, too. It's a waste of time, money and other valuable resources.
They may be forced to, as you have hypothesized. But until then, all we've got are pundits and demagogues.
Bible presidents? GWB wasn't that long ago. Never underestimate those people.
What are you defining as "better plays"? The whole segment is suspect. I mean, what legit biz would invest in an "industry" where the basic product is illegal at the federal level?
The whole thing is just nuts. They all trade on hype. There can be no industry so long as the feds are saying, "Well, today, right now, we aren't going to bust you. But that could all change tomorrow."
You can bet your a$$, if a bibly thumping conservative is elected pres while these laws are still on the books, it will all come crashing down, hard, very hard.
Sorry if this was already posted here. I just found it over on the CANV board. It's a good read.
http://www.forbes.com/sites/nathanvardi/2014/03/26/high-times-inside-the-pot-stock-bubble
yeah. I just don't know about this one. They are all looking like they are manipulated but this one is at the top of the list. I watched the run up to 200 and the bid/ask was no more that 10 shares at a time. Of course this changed when it started back down and the bid/ask sizes jumped to 100, a ten-fold increase.
Exactly. Impossible.
None of them have good financials. None of them have a leadership. They all trade on the news de jour.
I created a portfolio and watched it for one month and then took a few thousand and dollar cost averaged it across 7 or 8 of the best historical performers.
That got me in CANV and a whopping $138 pps. It then ran up to $200 and I sold and it has slowly retracted since. I did the same thing with ATTBF. That one I cut a little close as it plunged off a cliff just about a half hour after I got out, but I did make about 40% on that play.
All you can do is look for the losers. See if they lost on "news". Usually, those will recover on "news". Unless, that is, you're looking at FITX. There have been so many idiotic fluff PRs that the market just doesn't care anymore. This is going to apply across the board to varying degrees.
No help. I know.
Personally, I'm waiting on a significant retraction. Then I'll get back into a few of these stinky pinkies and see what happens.
Wow! Now that's progress.
Look at the size of that fence! Is that grow lights I see on top of those poles. How big are these plants? 100 feet? Good to see this is located next to a large body of water. Those lights must put out some serious watts. Look at how green almost tropical the growth around that fence is. And this is like way early spring dude.
http://www.tiikoni.com/tis/view/?id=63c342d
Time to smell the coffee.
"Today, Pink House Blooms is a $3 million-a-year business, with 2,000 plants in a converted warehouse in an industrial part of Denver."
That's 2000 plants netting 3,000,000 per year. How many plants is "Billy" going to fit in that barn?
"But it produced a profit margin of only 6% on revenues of $4.2 million last year", ouch. That's nowhere near 86% claimed here.
"As the industry becomes more competitive and there is more pot available, the price for a pound of high-quality weed in Denver has slid from $2,900 at the beginning of April in 2011 to $2,400 in the same period in 2012 to $2,000 this year, according to Roberto's MMJ List, a service that connects wholesale sellers and buyers.", uh-oh, "Billy" better hurry before the prices go sub thousands.
http://online.wsj.com/news/articles/SB10001424127887324345804578426963236807452
Drove by the barn today. Looks like the filtration system is in place. And it's behind a fence.
http://www.tiikoni.com/tis/view/?id=278d8bc
What will all the good news and clear progress, you'd think this thing would just explode.
Based on what?
The company has had only loosing quarters in anything it has filed. Please back up statements like this with some cold hard numbers.
1. A picture or two of the inside of the pole barn. There is no justification for the secrecy, not when CNBC is running specials of every other grower/producer and showing their operations from the inside.
2. Publish an audit.
3. Don't withhold the fact that the much touted GNC deal fell through.
4. Don't wait until you've been caught to come clean on selling shares after you indicated that the stock was just too cheap to sell right now.
5. Don't lie about having to file a 144. No one "has to" file a 144. A 144 is only filed if you "intend" to sell. One does not file a 144 "just in case".
6. Publish the manufacturer of the "1 million pound" safe.
Looks "open" to me.
Can you define what you mean by, "closed off"? I just pulled it up. I can post comments. How is that "closed off"?
Dude! You read my mind. Just got done submitting the SEC complaint. I'll be collecting the whistle-blower reward. It's a nice chunk of change.
"little pinky company" WTF?
Hello pot, meet kettle. He's black like you.
yeah. news from some place without an extradition agreement with the US.
What's bibster's opinion on this law suit.
Obviously "Bill" hasn't even started on that yet hence the lack of fuzzy iphone photo-shopped picture of a "document".
Indeed.
Both sides are attorneys that apparently could not cut in the courtroom so decided to go into stinky pinky land and bilk naive "investors" out of their hard earned money.
Life is so simple, no?
Not according to the the pumpers that touted the PHOT deal as proof FITX was legit.
Real companies list the major investors. I wonder who it could be. Bin Laden? No. Pretty sure he's dead. Maybe it's Putin funneling some money to Syria. Maybe it's Assad trying to hide some of his loot.
All this time I've been getting threats and beat up over my opinion on FITX and one of the main pillars my attackers have stood on over and over and over is the PHOT deal and how there is no way PHOT would be fooled. I guess you were right. I guess PHOT wasn't fooled after all.
That and then there are the "investors" that have so little understanding they keep asking why there's been no 8k filed for the recent deals.
Everyone thought the GNC deal was "done". I'm seeing a pattern here, a pattern of walking back grandiose statements.
Did you happen to catch my post regarding the number of growers Washington (the state) estimates it will need to supply an annual demand of 187,000 pounds of MJ? 1000 growers. In Colorado, the are over 700 licensed growers and they are leasing over 900,000 sq ft of space. All backed up by an article in Time.
I'm beginning to think they've got Jesus himself in that pole barn, just pulling out bales of weed from a lunch bag.
First GNC. Now PHOT. Smell that? It's Denmark and there is something rotting there.
Tweed HQ compared to FITX barn. Funny.
http://www.tweed.com/pages/about-tweed
FITX is a big fat zero. Tweed is licensed and has a complete facility. FITX just has promises.
This is a pump and dump. People are waiting on the licensing, but at some point, some key event dependency is NOT going to happen and that will be all they need to back out and claim it was beyond their control.
1000 growers needed to provide 187,000 pounds, annually. And this lawyer is going to grow 7 times as much in in a fraction of the space. Those must be some powerful patents Sam is hanging on to.
lol, that is funny.
"Legal marijuana is already big business in Colorado. In the past two years the state approved 739 sites for growing pot — some with 10,000 plants — and the industry leases a total of about 1 million square feet (93,000 sq m) of space in the Denver area. Pot is expected to be an even bigger business in Washington, however. Roughly 1,000 grow sites will be needed to meet demand, with 363,000 consumers in the state anticipated to be somehow ingesting in the neighborhood of 187,000 lb. (85,000 kg) of dry marijuana annually."
So, in WA, they are looking to need 1000 grow sites, to supply 187,000 pounds of MJ, annualy. But "Billy" is going to crank out 7 times that much, that's 7 times more than 1000 other growers combined.
"Denver Relief is considered a medium-size grower, and it is based in a 13,000-square-foot (1,200 sq m) warehouse, where 2,000 pot plants require 62,000 watts of power and 2,000 gallons (7,570 liters) of filtered water each day."
http://business.time.com/2013/01/08/187000-pounds-of-marijuana-annually-legal-pot-business-to-bloom-in-washington/
Annually?
How many pounds of product are they going to be producing?
You feel way too comfortable with that estimate for someone completing a "drive by". Get used to chain link fences and high security.
"Bill" has said a lot of things that have turned out to be not quite what the "long" investor assumed.
1. Said something about never having sold shares over the past two years and would not sell any (not the cold dead hands FB post, a different post, that has since been deleted once he got caught). Then he sold.
2. The fence will be done by . . . Nope. Not even close.
3. GNC is in production and will ship in 1-2 weeks. Nope.
4. "We" canceled the GNC deal. Nope. GNC say they canceled it.
it's available on line: http://www.hc-sc.gc.ca/dhp-mps/marihuana/info/list-eng.php
Isn't there a link? It was from samsam
I was responding to a post that directly claimed FITX was on the bottom and asking a rhetorical question. Calm down offer up some proof FITX is on the top of the stack.