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Based on today's trading, Beaufort gets another 6+ million shares to dump on Feb 6. Could get even more as the conversion is based on the lowest intra day trading price for the prior 20 trading days.
Exactly. Only problem is they need it to run the other direction!
FBEC is a giant turd.
Get back to me when you can sell 1.9 million above .0245 a share.
1.9 million on the bid!
Keep on buying because there are tens of millions more to be dumped in the next few months!
Hope you bought all 1.9 million that were dumped today!
I don't think there are any shareholders left here. Just those that know the truth and those that are on Jason's payroll.
Rumble can't promote Wolfshot at UFC fights by wearing branded clothing. It's against the UFC contract with Reebok.
Agreed. This is what happens when you hire a shady penny stock promoter as CEO.
Penny stock promoter to penny stock scam CEO. Natural progression I suppose.
Spatafora is trying to sell shares, not product.
http://jas9.ca/
Why not put the web address of Wolfshot on the mural so people know where to buy it??
(713) 999-3407
http://www.valenmethods.net
Almost 1 million shares dumped today! Tens of millions more to be dumped on the market in the upcoming weeks!
How many units of Wolfshot did DAF order? How many were delivered?
When will FBEC release the names and operating agreements of the newly formed joint venture LLCs?
Would love to get more detail and find out why Spatafora was personally listed as an owner.
Almost 1 million shares dumped today! Tens of millions more to be dumped on the market in the upcoming weeks!
In June 2015, the Company entered into a note with a principle of $200,000 due for legal services. The expense for legal services was recognized during the nine months ended September 30, 2015. The note will become convertible on or after the maturity date January 14, 2016 at 75% of the average closing price for the 20 days prior to conversion.
I believe the 11,500,00 number is close for the $200,000 note. Don't forget, somebody has been working really hard to paint the close everyday for the last few weeks.
However, some of the other notes convert with large discounts to the lowest intra day trading price! Those notes may very well convert below a penny!
Why does Spatafora get ownership in the new joint venture LLCs?
Definition of an Managing Member:
Not all LLCs have a managing member; in a manager-managed LLC, the members own the company and the manager is a non-member employee who runs the company. A managing member of an LLC is an individual who holds an ownership interest in the company, participates in its day-to day management and has authority to contract on behalf of the company.
From the Dube 8-K:
To the extent set forth in this Agreement, each of the Parties shall own an undivided fractional part in the LLC. Jason Spatafora and Phil Restifo shall be the managing members of the LLC (the “Managing Members”)./quote]
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11038302
From the CBDGlobe 8-K:
To the extent set forth in this Agreement, each of the Parties shall own an undivided fractional part in the LLC. Jason Spatafora and Patrick Folkes shall be the managing members of the LLC (the “Managing Members”)./quote]
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11018520
Why does Jason personally have ownership in the new LLCs created with Dube and CBD?
Dec 2015 thru Feb 2016: Massive debt converting into Tens of Millions of Shares
In June 2015, the Company entered into two debt agreements with total principal amount of $150,000 with 10% interest per annum. The notes will become convertible on or after the maturity date at a 37.5% discount to the lowest market price of the 15 days preceding the conversion request. The notes are due December 11 and 17, 2015.
In June 2015, the Company entered into a note with a principle of $200,000 due for legal services. The expense for legal services was recognized during the nine months ended September 30, 2015. The note will become convertible on or after the maturity date January 14, 2016 at 75% of the average closing price for the 20 days prior to conversion.
In June 2015, the Company issued an 8% Note with the principal amount of $35,000 due on January 30, 2016 for purchase of intangible asset. The holder may convert to shares of common stock on or after the maturity date at 75% of the average closing price for the 20 days prior to the conversion notice.
In July 2015, the Company entered into three convertible debt agreements with total principal amount of $169,000 with 10% interest per annum. $114,000 of these notes are convertible at a 35% discount to the lowest market price of the 15 days preceding the conversion request. $55,000 of these note are convertible at a 37.5% discount to the lowest market price of 15 days preceding the conversion requestThe notes are due January 3, 9 and 17, 2016. These notes become convertible at or after maturity.
On August 4, 2015, the Company issued a 10% interest bearing Convertible Promissory Note in the principal amount of $75,000 to Beaufort Capital Partners LLC, a New York Limited Liability Company("BCP"). Pursuant to the terms of the convertible promissory note, the 6 month maturity date is February 5, 2016 and the holders have the right to convert any portion of the principal amount after maturity date thereof at a 35% discount to the lowest intra-day trading price within the twenty (20) trading days prior to a Conversion Notice submitted to the Issuer’s Transfer Agent.
On August 6, 2015, the Company issued a 10% interest bearing Convertible Promissory Note in the principal amount of $45,000 to Beaufort Capital Partners LLC, a New York Limited Liability Company("BCP"). Pursuant to the terms of the convertible promissory note, the 6 month maturity date is February 7, 2016 and the holders have the right to convert any portion of the principal amount after maturity date thereof at a 35% discount to the lowest intra-day trading price within the twenty (20) trading days prior to a Conversion Notice submitted to the Issuer’s Transfer Agent.
In August 2015, the Company converted $557 of debt into 5,570,000 common shares.
On August 26, 2015, the Company converted $26,625 into 4,437,499 common shares.
On August 26, 2015, the Company issued a 8% interest bearing Convertible Promissory Note in the principal amount of $30,000 to Asten Wyman LLC. ursuant to the terms of the convertible promissory note, the 6 month maturity date is February 26, 2016 and the holders have the right to convert any portion of the principal amount at any time at a 50% discount to the lowest intra-day trading price within the ten (10) trading days prior to a Conversion Notice submitted to the Issuer’s Transfer Agent.
Article published about FBEC CEO
One day you're using a curious nickname and the social networks to recommend pot penny stocks, and the next, you find yourself at the helm of one. That's what happened to Jason Spatafora, the CEO of FBEC Worldwide Inc (OTCMKTS:FBEC).
As we're sure some of you know, Mr. Spatafora is better known among penny stock circles as The Wolf of Weed Street. He came to prominence in 2014 when he was using his Twitter profile to tell you which pot stocks you should invest in, and although not all of his picks performed brilliantly (some of them were rather disastrous, actually), he managed to gather quite a following. Apparently, FBEC's Board of Directors reckoned that his social media experience is invaluable and after a brief stint as a Chief Marketing Officer, he was appointed at the helm. His salary, in case you're wondering, is $15 thousand per month.
It's fair to say that he is facing quite a challenge. FBEC has been around for a while and it has gone through numerous business plans with little success. Some people with questionable reputation have also been involved. A certain “Mr. Birmingham” is listed as “an affiliate of the company” in some of the older filings, and many investors reckon that this is Norman Birmingham who has been running countless shady OTC enterprises.
Mr. Spatafora has another massive task in front of him – convincing investors that he can put FBEC on the right track despite the atrocious-looking 10-Q. Here's a summary of the figures recorded on September 30:
current assets: $6,616 in cash
current liabilities: $1,598,060
NO revenues
quarterly net loss: $2,765,511
Mr. Spatafora says that there's nothing to worry about. He says that the hemp-based energy shots are now on the market, he claims that they are well received by the general public, and he seems convinced that everything will be alright in the very near future. Investors, however, aren't so sure.
Generally speaking, FBEC has been quite illiquid over the last several months and although there are volume spikes, they don't seem to be doing the ticker any favors. Yesterday, for example, investors traded nearly 4.8 million shares for no immediately obvious reason. The ticker did reach a green close of $0.033, but it actually spent most of the session in the red and it also logged an intraday low of just $0.012.
We can understand why people are treading carefully. The appalling financial statement is far from the only worrying item in the latest 10-Q. If you read through the report carefully, you'll see that there's plenty of debt. Some of it has already matured and a portion will do so within the next few days. The notes are convertible into common shares at discounts ranging from 30% to 50%.
Speaking of conversions, during the first three quarters of last year, FBEC was forced to issue around 10.7 million shares at an average rate of $0.0036 in order to satisfy debt, and it has printed additional stock at as little as $0.0001 per share. Issuance of more discounted shares could drag FBEC further down.
Which, by the way, has already happened to Vapor Group Inc (OTCMKTS:VPOR, VPOR message board). When it was traded under its previous ticker symbol (SPLI), VPOR was among Mr. Spatafora's favorites.
http://www.hotstocked.com/article/92462/fbec-worldwide-inc-otcmkts-fbec-staggers-along.html?PageSpeed=noscript
FBEC Happy Debt Conversion Day!
$200,000 converted into 11,500,000 shares! $.0174 per share.
FBEC dump fest is just getting started. Jason's lame distribution deals won't change anything.
What happened to FBEC's celebrity spokesperson? Has anyone seen anything with him promoting Wolfshot?
What is made up in this article?
17 years to sell 1 million air fresheners! What a joke.
FBEC stinks. Probably why they teamed up with an air freshener company.
Stinky dump fest. Pumper & dumper of weed street can't stop the bleeding. More dillution coming in the next 6 weeks. Minimum of 25 million shares. Check out all of the convertible notes in the 10-Q.
Lol! Has anyone actually seen the mural?
Nearly 20,000,000 shares to be converted this month.
01/09/2016: Note payable due $114,000. Can be converted at 35% discount. (approx 5.9 million shares)
01/14/2016 Note payable due $200,000. Can be converted at 25% discount. (approx 9 million shares)
01/17/2016 Note payable due $55,000. Can be converted at 37.5% discount. (approx 3 million shares)
01/30/2016 Note payable due $35,000. Can be converted at 25% discount. (approx 1.5 million shares)
There it is! .013! Im sure someone will paint the close.
Making a run for .014!
From the latest 10-q under notes payable. Says it was for legal expenses in June 2015.
Nearly 20,000,000 shares to be converted this month.
01/09/2016: Note payable due $114,000. Can be converted at 35% discount. (approx 5.9 million shares)
01/14/2016 Note payable due $200,000. Can be converted at 25% discount. (approx 9 million shares)
01/17/2016 Note payable due $55,000. Can be converted at 37.5% discount. (approx 3 million shares)
01/30/2016 Note payable due $35,000. Can be converted at 25% discount. (approx 1.5 million shares)
.026! Here comes another 100 share trade above .03!!
Has anyone on this board done any DD on this company or is it all speculation?
Well that's a good thing. Although how much tv and media exposure do they get outside of the actual fights.
FBEC products WILL NOT be going on tv with the UFC.
FBEC does not have a deal with the UFC. FBEC has a deal with Anthony Johnson.
Johnson can't wear any Wolfshot clothing at anything UFC fight related due to the exclusive Reebok agreement.
"Fighters are allowed to keep their current sponsors, but they can't wear them during any UFC fight-related appearance. So while featherweight champion Jose Aldo has kept Venum, an apparel company, as his primary sponsor, at UFC 189 and all appearances during fight week, he and his team will be in Reebok gear."
http://sports.yahoo.com/news/ufc-s-sponsorship-deal-with-reebok-about-more-than-just-a-new-look-205716284.html
Sand owns 200+ million shares. You stated Sand has not and cannot sell shares as he is an affiliate. Therefore sand owns approximately 80% of the outstanding shares. You cannot provide any filings that show Spatafora or anyone else bought the controlling interest from Sand.