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Yes, they moved fairly quickly.
On this board people had been calling for .14 .07 .03 all the while the PPS eroded to theses levels, now they are only saying .01.
High risk OTC PINK with no sales and just recently went from 2.2 to 7 BILLION AS.
Most likely yes. I mean, with almost 0 sales and no revenue coming in other than whatever paper deals they have made, the increase in AS required to satisfy the upcoming "accumulation" into the market, you'd think they'd have be able to do something about it.
Another promise the 1 employee failed to do when they said they would.
Websites like that cost $500-2500 to make and take less than a week. What's the hold up you think? Why would it take months?
logic dictates if there were note holders looking for any price they could get the stock would be going down hard
That seems to be a method they've been attempting for a few PR cycles. The issue with having so many shares that are ready to "accumulate" into the market by the note holders really blows out any attempt to see when and where one might choose to exit.
I wager the people that have been buying the previous few weeks are more day traders looking for a pop that may never come to make them whole or get their heads above water.
Especially dangerous is trying to use a chart in the OTC to get a sense of where this security is headed.
GLTU
Simple DD on FBEC shows the agreements they have put in place in the past have required them to increase the AS to over 7 billion to allow for the eventual "accumulation" of these shares into the market at whatever price the market will bear.
The total of the shares to "accumulate" in are based on the agreements which are so open ended that it could consume the entire NEW AS in a matter of months if the PPS continues to erode at the rate it has been over the past 6 months.
With the increased selling pressure as a result of those events and the absolute lack of physical productions, sales or marketing path for FBEC it is hard to see where any sustained run will occur and when the continuous downward pressure will stop.
2,200,000,000 shares of Common Stock, par value $0.001 per share, of which 533,982,857 shares are outstanding as of March 16, 2017.
The Company anticipates that the actions contemplated hereby will be effected on or about the close of business on April 10, 2017.
The company goes dark for months and PRs a logo for a product they have no TM for, that you can make in a day?
Oh this keeps getting better and better!
Is this another proprietary blend like the one they say is worth 50K? The only major asset this company has? Otherwise it's a big shell.
The only news they have to tell us about it is that they drew something. Nice.
There could be billions of shares ready to "Accumulate" into the market the day after the AS is increased as a result of the past dealings that have been well documented here and can be found in the company SEC filings.
This AS was to pay for those past deals and I'm sure they hope there will be a billion or 2 left over for a last gasp before RS.
What is known is that the conversions will continue unabated.
GLTU and I hope you get that "bounce" you're looking for.
Over 6 Billion left to print and "accumulate" into the market.
It hasn't stopped for over a year, no reason to stop now if the volume is there.
FBEC... with enough research and DD on past performance, I believe it will become more clear that the constant "accumulation" into the market by large note holders will continuously break the "readings".
FBEC in that vein I would wager that even the parties involved in the PPS motion over the past 18 months no longer have the control over the PPS they did previously and it is in control of large note holders that will sell at whatever price the market will accept. = No substantial bounce.
Then another RS is then in play.
Correct it's all about the terrible chart and the mountain of conversions to "accumulate" into the market at whatever price the market will bear.
It has been clear over the last months and months and months that the selling pressure outweighs the buying pressure as the PPS continues to erode with weak and short lived gains.
Makes you wonder what the OS is today.
You think it's topped 600 Mil yet?
FBEC but that chart was so amazing according to some interpretations!
Maybe they are just waiting for someone to start buying into the "accumulation"
Ya right.
I don't know if this is a NEW PR released by the company, it looks more like an article written by one website on old news.
A Rehash.
They will sell at whatever price the market will bear no matter how low.
FBEC "Consolidating" back down from the "accumulation" of shares into the market by the hundreds of millions. Gosh I wish I had a creative writing degree from some Uni somewhere.
FBEC A company that says it makes hemp juice energy shot. Effectively 0 sales.
Relying on chart readings on an OTC as the sole reason for purchasing a security is folly.
Simple DD tells that there is a multitude of conversions being continuously "accumulated" into the market and OS at whatever price the market will take.
This Fact has broken many "chart readings" on this security in the recent past when the "accumulation" runs out of buyers at certain levels. One of the major reasons we are at these low PPS levels, not including the ppl who have been underwater for days or weeks or longer and have their out price set too.
At this PPS point this is on the highest of risk sides an OTC Pink can get to without. It is now in the realm of trip hunters who will try to load up and then spin a lot of buzz about the Security and a "bounce", that should be a red flag for anyone who is hoping to exit from the previous PR rounds.
Link to proof within the last 60 days?
1 Employee. Person.
Scary to think what the OS can be at this point with all the selling.
Fact, the chart is a death chart. Going back over any logical length of time shows that.
Fact is there are multi hundreds of millions of shares being sold/accumulated into the market daily for the past weeks/months
Fact is this security is a barely reporting PINK and can do and say whatever it wants without having to disclose to shareholders much.
Fact is that's a major reason the PPS has slide DOWN to these levels and continues to see major selling pressure
Fact is that now at these levels big blocks buyers wouldn't touch it with a 10 ft pole as the AS was just recently allowed to balloon
Fact is the AS was reduced with MUCH fanfare from the previous amateur CEO as a necessity yet now the reverse decision is being touted as a positive as well.
There have been many Facts about this security that that make very clear it is a high risk trade for small block buyers and a volume trap NO-GO for big block buyers. This is an OTC pink with hundreds of millions of shares outstanding and hundreds of millions more to sell.
If your intent is to buy shares in FBEC I recommend a review of it's chart. It will show that you can buy shares cheaper than the week previous for the last 4 at least. There has been no fundamental change in the business that indicates this trend will reverse any time soon.
FBEC appears to be prepping for a crash and burn to .0001 as a result of poor agreements they have made with lenders and the inability to generate any meaningful revenue from it says it's operations are.
Large note holders seem to be hoping to 'accumulate' a few billion shares into the market to who ever will buy it before it either goes dormant or RS to do it again for the 2nd time in recent history.
The 1 Billion+ shares FBEC write up that note holders want to "accumulate" into the market must all be in play at this point.
What a free for all it must be with large note holders wanting to exit ASAP regardless of PPS.
To them Volume is key at this point, they need to be able to sell into the market.
Added at 9.88
It appears the court information will be forthcoming:
https://www.otcmarkets.com/stock/RXMD/news/Progressive-Care-Issues-Update-on-Recent-Trading-Volume?id=151642&b=y
Lawsuit
Progressive Care has filed a lawsuit against Midam, alleging breach of contract, seeking monetary damages, and also seeking a temporary injunction against further sales in breach of its agreement with Progressive, an immediate buyback of all shares sold in breach of the agreement, and other temporary relief.
The case is pending in the Circuit Court in and for Miami-Dade County, Florida, and is awaiting assignment of a case number. Progressive will be seeking an immediate hearing on the company's request for a temporary injunction.
Greene will make deals like that all the time it seems, print as many shares as they want as long as there is volume to "accumulate" into.
Is it possible to be more specific? Before or after the RS? Also what day did it hit .14 after the RS?
Was it during this ugly trading action?
06/15/2015 0.0596 0.07 0.058 0.065 407,170
06/12/2015 0.0651 0.08 0.0592 0.0592 622,185
06/11/2015 0.11 0.11 0.0599 0.0886 1,344,800
06/10/2015 0.12 0.12 0.083 0.11 543,727
06/09/2015 0.089 0.11 0.075 0.11 288,624
I can't find historical pre or post RS within the last few years that have .14 as a PPS that was achieved. .12 seems to be it's highest post RS PPS.
Although these are only open and close dates so maybe it hit an intraday high of .14? Hence my confusion and request for clarity.
Aside from the mountain of conversions that were ready for the market these deals get worse and worse for SHs.
What was the assumed number? Over 1 Billion shares ready to be sold into the market? That will only take a couple days to or so to churn through at current trading volume right?
I don't see how if all they really have is the 50K in "IP" valuation they valuated internally and a few hundred dollars worth of "office equipment".
FBEC has no forward looking valuation and no current sales. There is nothing to hold this PPS.
Check out all this accumudumpation tho!
There isn't anything to stop it from falling way below .005
Wow, who would have thought we'd be lucky enough to see all this accumulation (dumping), I can't never pick which creative word to use.
They really are backing up the truck on this one.
I hear the new buzzword for dumping is accumulation. Anyone with a degree in creative writing can tell you that.
No surprise why people would be scared of this Security at this point. Next to no annual sales, no prospects to push the business.
Low volume trap keeping big block buyers out.
Now that's its a frequent delinquent OTC PINK it doesn't even bother disclosing deals fully, leaving people wondering how much paper they have to print to pay the debts of past printings.
FBEC Best I can find is SEC information found in the extremely late filed 10Q:
For the period from January 1, 2016 through September 30, 2016 ...the Company’s revenue totaled $1,529
As of September 30, 2016, the Company’s cash balance was $2,214. Outstanding debt as of September 30, 2016 totaled $2,039,081,
Any brief turn to the positive has been hailed as the 2nd coming for over a year.
We have been in a downward slide longer than any short chart read easily shows.