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Did anyone catch how many licenses are allotted for Paradise?
I will. They are going straight to round two voting now.
I think that there are only a few more townships to get through in round one, and then straight into round two.
If I'm not mistaken, we have to get a minimum of 4 votes. Only one application got 4. All of the others that got votes move on to a second round of voting. Several of the applicants were eliminated by zero votes. Most of those that weren't eliminated only got 1 or 2 votes.
I think we got 3 votes in Paradise - UC363-14 got 3 votes.
Happy to help. I'll be able to catch it up to around 4:30 eastern, so I will get what can. Maxxm, sorry, I don't have PM on here.
Right now the council is discussing how their voting process is going to occur. If I can catch it all, I will post it stat.
The last applicant is finishing now.
I agree completely. A very compelling presentation. Charlotte's mother did a great job, as well. I thought she gave a very impassioned testimony.
Does anyone know if FITX has notified the Lakeshore town council of their submission of a second application for the 25-acre plot/facility?
Thanks for the reply. I appreciate you. I have had to stop following FITX so closely for a while because of circumstances at work. I, too, am getting restless with this stock. I don't blame management for the longer-than-expected inspection and license time frame - as I understand it, the problem is with Health Canada. Actually, if I understand correctly, the fault is not HC's, it's simply that they are completely swamped with over 900 applications, and are required to give each their due consideration. Is that the general consensus among our investor community? Does anyone have a different opinion?
Hey everybody. The whole sector is down today. Anyone know why? I haven't been able to find any news of a new suspension.
It looks like we may manage to finish in the green today. Does anyone know why so many stocks in this sector are down today? I've done a cursory search but haven't turned up anything. Was there another suspension?
License on deck? Is there some confirmation of this?
Hmmm, true, too true.
Great find. I think it's interesting that both Bill Chaaban and Richard Boswell are listed as being from/with CEN Biotech and not Creative Edge Nutrition. It's almost like the supplement side of the company has been forgotten, or is an embarrassment to be overlooked.
Steward,
thanks for posting this. I follow your posts, you've usually got great things to say. I know that you've been doubting lately. I have to say I have as well. I like your numbers, but I'm wondering if the influx of new applications to HC this year has stressed the organization to the breaking point. I'm thinking that they are WAY behind on doing inspections and issuing licenses because they also have so many other non-mj pharma issues to deal with, and have had to contend with a considerably reduced workforce over the past few years due to political circumstances. I'm wondering if, through no fault of FITX's, the inspection/licensing might take much longer than originally thought or planned. Thoughts?
How do you know that a license isnt' happening? For that matter, how do you know HC hasn't inspected yet? I accept that they probably haven't, given the number of applications for licensing they've received, versus the reduced work force with which HC has to carry out their mandate. However, why would you insist that a license won't happen for FITX? As far as my DD can tell, FITX has as good of a chance getting a license as any other current applicant, if not better. Even Chris Parry, whose most recent FITX article ("The Interview") focused almost entirely on the whole "World's Biggest" thing (which is bullshit, both on the part of Bill, and on the part of Chris for insisting that this issue be the meat of what he published), admits that he sees no reason why FITX shouldn't be granted a license. So what information has your DD turned up that so many others' hasn't that points to a definite license denial? Please share this with the investor community.
Not going to jump significantly
Brent,
I am a FITX shareholder, and I intend to go long on my position. Just want to say that before I disagree with you.
Regarding your statement that FITX will be like Tweed when it uplists, I would caution you to consider that FITX literally has billions more shares than Tweed. When it uplists, FITX will certainly get a bump, and hopefully a good one. The company deserves it, Bill deserves it, we shareholders deserve it, and the naysayer scammers definitely deserve it (in their faces). That said, Tweed's current share price closed at $3.23 today (it closed down 3 cents). FITX is not going to come remotely close to this with news of an uplist, even if it was coupled with news of the license. It is so easy for me to start daydreaming about how much money I'm going to make when blah blah blah. I don't know if it's the same for you, but I find that when one's expectations are unrealistic, even nice rises in pps tend to be disappointing when they're not anywhere near what one expected, which kind of takes the fun out of it, and can cause one to make bad investment decisions.
Given how hard the shorts and MM's are playing the sh$@ out of this poor stock, and how eager those with the means or courage (including many of the "longs", not that I blame them) are to sell on a rise and buy back in on subsequent dips, I really have a hard time seeing this stock rising beyond .15 with news of an uplist. I keep thinking .13, although I don't know why. News of the license will probably do as well, and the two together could see a rise above .15 maybe, but I am not keeping my hopes up for a significantly higher rise in pps without an uplisting, an audit, a license, and news that the seeds are planted. There are just too many shares and too much jerking going on. The long-term potential is enormous, I think, but in the short term, I have a hard time seeing this stock going to .25, or .5, or anywhere between or above. I sure wish it would, but everytime I've seen it start to gain serious momentum, huge sells come in and cut the sh@% out of the rise.
There's a lot of excitement happening on this board, and I share in the enthusiasm (and I sure could use a big-ass rise in pps!) but sometimes it gets just a little unrealistic. For example, when the PR came out about Bill calling HC for an inspection, so many players here were just so sure that news of the license would be coming "any day". Again, unrealistic. Even the most efficient government agencies can be glacial in their momentum, and now, because of the excellent DD provided on this board by many in the FITX investment community, there is strong reason to expect a month between the inspection and the granting of a license. Furthermore, we don't know when the inspection occured, or if it has occured yet. So then there are lots of investors who are getting nervous because its been 7 days since the last PR about calling for an inspection, and no license news has arrived. The pic uploads from Bill in NYC are encouraging, and help stave off nervous panic, but you get the idea.
The point is, at the risk of pissing anyone off, I would urge anybody who doesn't own hundreds of thousands of shares (I could only manage 56K)to throw out the expectation of becoming instant millionaires and settle for a more realistic expectation, based on the manner in which this stock is being assaulted by the afore-mentioned parties and interests. All investors are here to make money - nothing wrong with that. But most of us aren't going to become retirement-rich off of a rise in this stock on news of an uplisting or license or both (even if a great audit appears simulateously) in the very near future.
However, if anyone happens to disagree with me, I would really love to hear why, because I would love to be more comfortable with fantasizing about how much value my position is going to accrue in a short amount of time.
So my question is, given that we don't know when Bill called for the inspection (it could have been last week, or before Easter, or this week), is there time to flip some shares if we get a nice rise tomorrow? Maybe make a little before the next round of restricted shares opens up on Thursday? I would like to try, but I'm nervous about selling a a percentage of my position too soon and missing the boat. The fact is, we don't know when Bill called for the inspection, so we don't know when it will happen. Any guessing is simply thar. What to do, what to do...
A problem for me is trying to guess when the inspection was actually called for. Rolph, Bill's post does not say that he "just" called for the inspection. That implies that this happened today, or yesterday, this week, etc. We know that HC requires a 2-week notice or request before a company can expect an inspection. If Bill called for the inspection last week, sometime last week, then the inspection could take place next week. If it was called for this week, it will be two weeks yet.
I WISH it would close at .0907. It would be a nice shot in the arm to see this stock close above .09.
Just to entertain my fantasy about this stock, wouldn't it be cool if a PR announcing granting of the license came out, along with a respectable audit, and a PR announcing a new master grower? This stock would surely fly.
But that's not how my luck works, so I'm trying to keep it all in perspective.
Ummm... Open at .0885, rise to .0893, fall to 0.082, hang there for a few hours with bumps and dips, then rise to close at .087-.088.
Actually, when I was looking at them, I couldn't help but feel that they seemed very relaxed. Doesn't look like they were too worried about zoning, at least. A cordial, working lunch or dinner. It made me calmer about what's going on behind the scenes. If the cats in the know aren't too worried, then I'm not going to stress too much. ...But I'll still watch closely and stay on my toes.
Well, now, toilet seats are really important. We will need toilet seats. ...and a coffee pot. I would like to see a PR about toilet seats. Otherwise, how will IMACMAN and I know that Bill hasn't dropped the ball (again) and overlooked this incredibly important item that could well be the deal-breaker for the business?
You're right, it is going to be a very interesting week. I was watching at the opening on Friday, and the stock started to plummet. And then we closed up nicely. Think that we'll go up on Monday?
Man, forget about chairs, and heating and air conditioning. I want to know, IS BILL GOING TO BUY A COFFEE POT FOR THE OFFICE? IMACMAN didn't mention this in his last post, he preferred to complain about lack of info regarding HVAC for the facility, which is OBVIOUSLY not as important as a coffee pot for the office. He really needs to get his priorities straight.
I have been wondering about the inspection, too. I don't expect that a PR will be released about it until the license has been issued, assuming that it will be. I'm still a little fuzzy on what HC would require. I know that they want to see a fence, cameras, security, and a vault. Is that enough? I sure wish we could see what kind of progress has been made in building one. Bill has said that we're on schedule, but being on schedule could include a little lag time for the sake of prudence. Also, HC does require that a facility be in accordance with local zoning. It could be that the inspection didn't occur until after the company met with the town council last week. Just spit-balling here. I have been checking Facebook and this board three times a day of late looking for news about the license. Trying to stay calm about it but I'm getting anxious for the news.
Just as important is the audit. We've been told that an audit for the last two years will be produced at the end of April. I was thinking, given that the supplement side hasn't been too stellar, if Bill would maybe prefer to release it after announcing that a license had been awarded. That might help calm big investors' nerves a bit. Thoughts?
IMACMAN, you are absolutely right!!! What WAS I thinking in purchasing shares of this company? Bill hasn't mentioned in any articles or interviews or speeches about outfitting the indoor growing facility in Canada with heating! He also hasn't mentioned toilets for a bathroom. What the hell? The workers will all have to go home to take a shit! Bet he makes them punch out to do it. And what about pens? I mean, why the hell hasn't Bill mentioned pens?!? Even if a company is "paperless", they will still need pens! And what about a damn coffee pot? Bill hasn't said anything about buying a coffee pot for the office - this is criminal! What about filing cabinets? Desks and chairs? None of this is mentioned in any of Bill's PRs! Man, we shareholders are all dupes for sure! Surely Bill would tell us if he planned to purchase anything standard and necessary for the day-to-day operations of the multi-million dollar facility. Face it, Bill can't be trusted.
"Just because a stock price is less than a dime a share does not make it 'cheap.'"
This is a very strong point. I agree.
For the record, a 100:1 reverse split would be more dramatic than you suggest regarding the number of shares that a shareholder would retain. 20,000/100 = 200, not 2k.
Steward,
as I understand it, Bill said that the inspection would take place just before or after Easter. I am not of the opinion that the inspectors are going to show up for the inspection with a license in hand, ready to hand it over to Bill and Co. if everything is kosher. I expect that, as with any bloated beauracracy, there will be a time lapse between a successful inspection and the issuance of a license. My guess would be 10-12 business after passing the inspection. If the inspection occurred on, say, Tuesday after Easter (April 22 - the same day that pics of the vault were posted on Facebook), then it is entirely reasonable that, assuming we passed the inspection, the license would not be in hand until the first week.
What are everyone's thoughts about FITX's share price after PHOT opens back up for trading tomorrow? I'm thinking that the sector might take a hit, at least in the short term.
Man, I hear ya. FITX has so much potential, and the facts are mostly very attractive. Except... except...
Pintus,
I share your belief in FITX and what they're trying to do. I am a shareholder, and frankly, I've invested more money than I can really afford to into this company with the hopes that it does what it wants to do, and that I can make a reasonable return on my investment.
However, Rolph is correct. And so are you. The town welcomed the company and knew what it wanted to do. The company has the correct permits to build exactly what they're building- a large storage facility. Building two actually isn't even that important at the moment, its really just a backdrop (albeit a BEAUTIFUL backdrop). It's the outfitting of building one that is of utmost importance to the company right now, because that is the building where the vault is housed, and where the company would initiate the planting of a first crop, assuming a license is secured from HC.
Rolph does know what he is talking about, though. He has been providing this board with exceptional, first rate DD and excellent objectivity for some time now (though he does take a lot of heat for it). I hate that he's right, but letting it bother me doesn't make my investment any fatter. The town gave the "thumbs up," as you said, for the company to initiate its plans, and that thumbs up boils down to, "Oh, you want to grow pot out there? Hmmm. Provide jobs? Hmmm... Well, sure, you can build a big ass storage facility on that land if you want to." The important thing here is "boils down to". The company has permits to build a building, not build a marijuana-growing operation. THAT permit can only come from HC, and the town has nothing to do with it. BUT, HC requires that any licensed grower be in full compliance with local zoning laws. Right now FITX can build a big ass building if it wants to - it has permits to do so. If FITX obtains a license from HC and wants to use building two for something like growing X number of pounds of marijuana, and intends to use more than 6,000 square feet of space in the growing, processing, and packaging of the medicine, and/or have more than five employees working at any one time, OR if FITX wants to use more than that much space in building one, with more than five employees at any one time, or both, then the company will have to apply for a zoning change. The current zoning allows an agricultural product to be grown and processed into a retail product on sight, with up to 6,000 s.f. of space utilized and allowing for up to five employees on site. Thus, as you say, every post that is put in the ground is in accordance with the obtained building permits and with the zoning. The town inspectors being on sight to look over the workers' shoulders and double check the blue prints is to make sure that the construction that is permitted is occurring according to standards. That does not mean that the town inspectors are there to make sure that the construction of building two or the outfitting of building one is being done in such a manner as to provide a pristine environment for growing pot. Yes, I believe you are right, the company would not have invested so much money into this project if they did not believe that they would be successful in their endeavors, and I REALLY hope that they will be, as it means a substantial financial gain for me (I am FITX LONG). But the project has not been shut down because the construction of what, at this point, amounts to a big ass storage facility, is going according to the blue prints and the permits - how the building is used is another matter. Eventually, this most likely won't matter, especially if FITX is awarded a license. Having a license will enable them to be able to hire locals to work for them, and the town needs that, so zoning most likely will be a moot point. However, Rolph is correct - utilizing any more than the 6,000 s.f. allotted by the current zoning classification will require a rezoning, or some kind of special circumstance clause on the current zoning. AND this will take some time ONCE the company submits an application or proposal or whatever is that the damn council wants or needs. The town council knows it, and so does the company. All will work out well in the end. And whatever his motives are, Rolph has not been posting misleading information.
A lot of the stocks in this sector took a hit today. Did something happen? Did another company get halted or something? I can't find anything in the news...
Good luck today, everyone.
There have been some very real issues brought to the attention of this board over the past months. The zoning issue, restricted shares, will we get a license, etc, etc. These issues have real merit, and will continue to until resolved. However, knowing as I do that this next statement will bring out the wolves, I want to say that Mr. Chaaban seems to be doing a fine job of making it happen. I like to be conservative, so as not to get caught with my pants down, and there are still risks involved with investing here, so I will contain my joy and not let my imagination get too carried away with "how much money I'll make when..." Regardless, Mr. Chaaban said he was going to build, and the building occurs at pace. He said there would be onsite security measures, and there are. He said he was going to get a vault, and he got the vault. And while he's been checking items off of the list, there has been a sustained effort by a few wolves here to discredit him. While the previously mentioned issues do remain credible, I for one feel that these can be met with and resolved in their time, and I am very impressed with the progress. I am hoping for the best for CEN and all of the investors. So I just want to say, "Bill, damn fine job so far. Congratulations. And Thank You."
Hell yes. Count me in. It will be well-deserved.
Even though it's been said by many, I just wanted to put my two cents in and say thank you for being so vigilant. You really have been doing the FITX investor community a great service by keeping us in the know with pics and helping light the dark hours between company uploads and PR's, when the voracious wolves on this board come out to hunt for nervous and easily-swayed investors. Really, Already Made It, thank you so much.
I stand corrected. I was under the impression that, while Mr. Chaaban remained CEO and President of Creative Edge Nutrition, Mr. Germinario was appointed as CEO of Creative Edge's subsidiary, CEN Biotech. I just read the press release again, and yes, he is the COB of CEN Biotech, not the CEO. My apologies. There is far too much BS on this board at times, and I do not wish to add to it.
Also, I have every faith that Mr. Germinario's appointment was the best possible move on the part of CEN Biotech to alleviate shareholder concerns in general. I believe his appointment speaks volumes as to the intentions of the company, which is one of the reasons I added substantially to my FITX position this morning. In fact, if I can get a good dip, I will be adding more tomorrow. Best wishes to all.
It's time for FITX investors to hear from Mr. Germinario. If he's the new "independent" CEO of CEN Biotech, then I would like to see a PR from him about his thoughts on CEN B.'s progress in Ontario and about what the subsidiary's future holds, both in the near and the far. Not casting doubt - I believe they might just pull this off. But it would be nice to hear what the man has to say.