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being unable to search, anyone link me to or share updates to the medbx lawsuit that was going on? due to their ceo or whatever making outright lies and facing other lawsuits I'm curious to know how EDXC's turns out (fully believing they will win)
KY also has something coming up about hemp production, be nice to be able to buy my macrame twine from a US company instead of Turkey or wherever it's imported from.
I wish I could remember where it was I heard it, but wherever and whatever it was makes me think Alaska will be the next rec state. Not a big market but still.
What I would like to know is that if those percentages are being held in 'trust' why is it that the three 25% stake holders get preferred payment upon proceed dispersion? Why is it that FITX doesn't get their turn at profits until after AJOA, WP, and PHOT get theirs? Seems like there shouldn't be any difference between FITX, AJOA, and WP if they are all are in essence FITX's portions.
true, but it's difficult to find comparisons as people don't normally rent out a barn. but their rental rate is under $1.00 so it seems an appropriate amount, especially considering leeway in make alterations to the property.
Property values for industrial properties in windsor ontario.
http://www.loopnet.com/Intl/Canada/Ontario/Windsor_Industrial-Properties/
you can get 96K sq ft. on 5 acres for 4.5M or the rental rate is $4.32 as an example.
Precisely why I like PHOT the most. If the Canadian dream comes true, thats $5B cen will be earning. no matter what FITX may or may not own, PHOT will be getting 1.25B in however long it takes to fully develop. (exaggerated for simplicity as i'm ignoring operational costs) This goes straight into our balance sheets. that alone would make PHOT worth over $2 a share assuming approx 740M O/S (I know this is going up eventually, but it's the most current number I have). FITX with its 3.4B O/S as of their last yearly at most would get to $.33 a share. And this is if fitx actually owned 75%. Because they do not (due to the whole trust business, WP and AJOA aren't going to simply give their 25% each straight to FITX such that it will appear on FITX's financials) and only hold 10% they are only at $.044 a share making them currently over priced. EVen owning 100% of Cen, would only get them to $.44 cents Why on earth does that seem like it's worth the involved risk in holding onto those shares instead of that of more established company that can repeat this process with multiple partners? After looking at the numbers though i feel i may have missed something as I can't believe that anyone would stay in the other rather than amass as much PHOT as possible. <sigh> now I'm sounding like one of those cheerleaders.
as only PHOT files with the SEC I guess I'll have to take their word for it. things such as 8K's aren't required to be submitted to anyone to remain a current pink, just 10Qs and 10Ks, and this has all happened after their last filing.
if they don't get a license to handle 1.3M lbs of dried marijuana PHOT can cancel the whole thing, or payout less for the same 25% depending on what they get approved for. The whole thing is a mess as PHOT is the only one that files with the SEC in the deal. as such I'm going with what PHOT files with the government over what some guy says in a PR/interview. I am liking them less and less, but my opinion of him doesn't keep me from making money off the situation.
Yeah, when I was in FIT>< I remember hearing about something along those lines. I suppose I can go through their edgar filings too and see what they say. couldn't find any different information post 12/17/2013 concerning the O/S having changed, but there is a fair amount of shares wrapped as debt/warrants that could be introduced at any time though I believe they would have to make notification of intent to convert/sell which hasn't yet happened.
i'm glad you mentioned that, so in going through 8-ks and exhibits i noticed that we own more of the canandian grow op than FIT>< does:
AJOA Holdings, LLC 25%
Wise Phoenix LLC 25%
Creative Edge Nutrition, Inc. (FITX) 10%
Growlife, Inc. (PHOT) 25%
Randy Hamdan 8%
Donald Strilchuck 1%
Jim Shaban 1%
Roger Shaban 1%
Khalid Bakshi 1%
Joe Byrne 1%
Jordan Elhalabi 1%
Joel Stohlman .5%
Jeff Thomas .5%
100%
This may well be old having been in the 8-k released 1/30 but it wasn't something that I had previously noticed.
http://www.sec.gov/Archives/edgar/data/1161582/000107997414000073/ex10_2.htm
As of Feb. 7 there was 738,582,902 issued and outstanding shares.
What I want to understand is why people insist on owning both PHOT and FIT><. especially considering Fits dispersion: PHOT, CANX, AJOA, WP, and EDXC all own pieces of fit, and there may be still more than that. that's a lot of thumbs in one pie besides the fact it isn't actually diversifying ones position, just weighting portions differently. no matter what occurs in Canada PHOT will continue on and prosper, as well the other afore mentioned publicly traded company which is in a different space. hence. this is where my two long positions reside currently.
It seems to me that WP and AJOA are the ones actually coming up with the capital. We are compensating them with shares in PHOT as well as a percentage of the proceeds. 117,647,059 of the Payment Shares will go to WP and the other 117,647,059 Payment Shares will go to AJOA. And there's also RXNB within OGI who will assuredly contribute a portion.
I also may be misunderstanding but this seems to be the relationship.
Have a good weekend. Back on Tuesday.
lol if they don't get it fixed by then i'd do like that student in utah did paying his tuition. all in pennies.
lol yep. i am beginning to understand how lawyers became so necessary in business besides for use in lawsuits.
the 3M series A PS, preceeded the need to quote the 10M Authorized PS. In such an event as what ocurred with SGT they are only required to report on the 3M, the remaining 7M are still classified as non-convertible securities and have certain exemptions. Only when that 10M number changes or when it is the sole entry under PS does it have to be noted. this is why it disappeared following the SGT acquisition and reappeared after the cancellation of the the 3M due to SGT unable to meet criteria. to learn more about this, a place to start is:
Order Exempting Non-Convertible Preferred Secu
rities from Rule 611(
a) of Regulation NMS
under the Securities Exchange Act of 1934
http://www.sec.gov/rules/exorders/2008/34-57621.pdf
found it. they've always had it. since the S-1 filed as phototron back in 2011.
10,000,000 shares of preferred stock, par value $0.0001 per share.
http://www.sec.gov/Archives/edgar/data/1161582/000143774911003919/phototron_s1-060711.htm
Reason no one recently knows anything about it is that its 3 years old news. and so my guess of it coming up with CANX was wrong but it can still be used as I laid out if it were necessary.
Where the 3M series A preferred stock disappeared to.
On March 19, 2013, pursuant to the terms and conditions of the Merger Agreement, the Company cancelled all of the 3,000,000 shares of its Series A Preferred Stock that were issued and outstanding. Per the terms of the Merger Agreement, the Company was required to attain specified net revenue and gross profit milestones by May 1, 2013 in order for the shares to vest and be distributed to the former shareholders of SGT. On March 19, 2013, applicable parties agreed that the milestones would not be met so the Series A Preferred Stock was returned to the Company and subsequently cancelled
3rd 10Q of 2013
http://www.sec.gov/Archives/edgar/data/1161582/000107997413000726/growlife10q9302013.htm
still trying to find mention of the 10M blank. closest thing so far were the 20 blocks of 10M that may be used in paying CANX depending on how much they invest into OGI, and should we want to pay our way up to 51% ownership of OGI. Also someone had mentioned the use of preferred to prevent hostile takeover. under their agreement CANX can accumulate up to 49% stake in PHOT, and should they attempt to gain a controlling interest, I could definately see the 10M used to prevent that. I really feel that the 10M originated somewhere within the OGI deal.
jumped the gun on this response and realized I had missed something in an early december 8k which nullifies my theory.
and also what happened to that 3M series A PS? It was apparently converted or otherwise disposed of, and these 10M "blank check" PS came from no where I have been able to determine. Should anyone learn more of this, I would be happy to have this clarified. Until shares begin getting issued I really am not terribly concerned over any of the SS, simply curious.
that i couldn't determine yet, and am also curious about.
They didn't just do this today. it was reported as required today. they increased the A/S nearly a week ago, and the preferred have been in place over a month. sorry you don't complete your DD before investing.
the first instance of 10 mil blank check PS was in the pre 14A filed on 12/27/13. previous to this there was only 3M series A PS that was resultant from the reverse merger near the beginning of the 2013.
there was talk of a demo back when they were bidding for I-502 for washington state. don't count on it being released.
there is not going to be a 10-Q for the fourth quarter. 10-K will be out by march 31.
That is correct. expect no 10-q for the 4th quarter. the 10-k is due 90 days after the end of the year (which was 12/31) this places it at either 3/31 or 4/1, not sure which, but historically last year they filed a nt10-k 3/30 and the 10-k was put on edgar 4/4. the year previous it was on time and the 10-k was released 4/1.
May have been previously covered, but there was mention of PHOT being pink, which they are not OTCPINK, they are OTCQB. Also there was mention of a 10-Q coming out Friday. Historically (2012 and 2013) they did not file a fourth 10-Q, rather using the 10-K which should be filed 4/1/14, as its fourth report. Not that this matters all that much considering the transparency they implement by filing 8-K's as required. All of which can be read on EDGAR. I'm glad I read the last couple, which explained why there was a vote called for to increase the A/S as well as explained the CEN purchase much clearer than the short explained it in the SA article from last week.
jack.
On subject though it matters not. have the shares here, though I stopped reading the boards except for news and pr's. Holding here, PHOT, and FITX since fall last year and I'm quite happy. been looking at getting a new car. wonder what my dear old mother would think of me making money in this industry. Heh, I'm happy with how things are and don't see any reason to sell unless I feel like there's a significant enough dip to play so I can increase my positions without having to actually invest more. I love this company to pieces, as well as the others. This has been the easiest money i've ever made. beats the crap out of digging gas lines like my brother. (though on a side note, he is in much better shape and generally healthier than I, so he's got that)
4B/year gross isn't in the least outlandish. Lets look. $4B/1.4M lbs(stated capacity for a years growing) = $2857/lb of MJ . This is only $175/oz. High end stuff is selling in CO USA for $400/oz before taxes. High Demand: Price of legal marijuana soars in Colorado. I really fail to see what is so unbelievable.
Canadian adoption of M3Hub would indeed be amazing. If such an event occurred there would likely not be a demo model to be found on the webz as I doubt a government would want such an important piece of the infrastructure of such a large business segment to be available to the general public and compromise the security of the system. Just a thought. And way speculative.
considering the proximity to detroit of cens place, lions are what one should worry about.
and its a shame you have to deal with this. Never heard of a company end a relationship with a customer because they were giving them too much business.
I use scottrade but it's not one you want to go with for penny stocks due to percent commisions on trades where the pps is under a dollar and their L2 doesn't extend to the otc market. Do like their charting though. In a chat room I once belonged to, the moderators all recommended etrade for pennies. Never tried nor heard much about the cheaper skeleton brokers.
wondered how they arrived at 58,000 sq ft. makes much more sense knowing they're leasing a building in extant. also helps the timeline as they've only a few months to get things set up and supply ready to ship by end of spring.
BBM has no need to risk his shares at this time by posting them. He's already successfully killed the volume and the retail reaction to the Canadian news. 20MA is now a resistance so he's safe for awhile... that's not to say he won't put the kaibash on it again in the future if he feels the need to.
Does a Ceo have to make a filing if they are going to buy shares in their company?