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When we see the audited financial statements, we will know what the revenue growth is. Until then, it is all speculation.
Scott Dittman is a CPA and has provided small business consulting services for Arthur Andersen. He knows exactly what is required to keep a set of books up to date! He has chosen not to. I very much doubt he would have three auditors working on the audit. That's just silly.
What big increase in numbers. If you look at the map of where PharmPods are in operation, it is obvious that sales are slow. One new location every three months?
No financials filed yet. As FSPM is trading at the Pink - No Information tier, there is no "Due Date" for filing, other than the fact Scott Dittman stated that he anticipated they would be filed by April 15.
FSPM has consistently used the same accountant for the last few years, and Scott Dittman is a CPA. There is no reason for financial disclosures to be late other than Scott Dittman has decided disclosure is a low priority.
I agree. The investigation by the SEC was both short and sweet and open and shut, and as a result CANN has been suspended. The SEC investigates first, and then suspends, not the other way round!
It is highly doubtful that any of the stocks you are looking at that moved from the Gray markets to the pinks were ever suspended by the SEC.
FSPM trading after hours?
I agree with everything you say. To clarify, chatter on iHub is irrelevant to MY trading decisions and the decisions of other traders who focus solely on price action, trend or momentum. For us, price action is the only thing that matters.
I was long FSPM for a few days at the beginning of April when the bounce happened. I reopened my short position when the bounce failed. I need a bit more strength here before I go long. A break above 6 would be very bullish, above 52 week high super bullish. All the chatter on this site (including mine) is irrelevant. Price action is all that matters.
Disclosure: I am no longer short FSPM. Price action going into the close convinced me that the down trend on the daily charts may well be at an end. I think we may be in for a reasonable run here.
If you read it, you would know that caveat emptor is not a "tier"
There are no lower tiers to go to as a result of not filing. They are not an SEC reporting company, so they have no legal obligation to disclose anything.
But I do agree that they will for, I am sure it is part of the game plan..,
The fact is that once FSPM was relegated to the Pink - No Information tier, there is no longer a "due date" for their disclosures. There are no lower tiers to be relegated to if they miss the April 15 date. Scott Dittman initially said they anticipated filing by the end of February. They missed that date. He then stated in the Notice of Late Filing that they anticipate filing by April 15. The only thing on the line with the April 15 date is Scott Dittman's credibility and shareholder confidence.
We are still waiting for Q4 2013 for FSPM. I noticed that due to failure to disclose, FSPM is the only pot stock trading above $0.50 that is trading on the Pink - No Information tier. Every other pot stock is trading on a higher tier (other than those suspended by the SEC). Actions speak louder than words - Scott Dittman is not interested in disclosure.
I was replying to post 5277 where claims were made that there are no MJ companies with audited financials and that companies with audited financials are safe. I am not implying anything specifically about FSPM.
We are all looking forward to FSPM filing audited financials. We must, of course be cognizant of the fact that two MJ stocks that filed audited financials have recently been suspended by the SEC. An audit provides some level of comfort that the financials disclosed by the company are accurate, but it does not mean the stock is safe from suspension for reasons not related to financial statements.
I agree with you. I did some DD on FSPM and realized that it was way overvalued, and have shorted it all the way down. It has been a real money maker! I feel sorry for ALL the investors who went long FSPM over the last two months and are ALL losing money - some a little, some a lot!
I am fully prepared to cover my short position when the price action on the daily chart tells me the down trend has ended and an up trend has started. I am not sure why the financial results will trigger any price moves upwards. I don't see significant increases in revenue until Q2 2014.
Well, one could always ask the inconvenient question about why with all the expense and hassle of being a public company, Scott chose this path instead of going the private route. Perhaps as he says in his Cannabis Radio interview at 21:20, it was on the advice of his brother in law, a stock promoter.
I am looking forward to these filings. I will obviously be looking at the revenue numbers, but also will be looking for increases in O/S and float share numbers, as well as information on which of the three holders of preferred shares, Scott, brother Rob or brother in law stock promoter William Sears / Microcap Management LLC, is converting preferred shares to common shares and selling them into the market.
I have a very different interpretation of due dates for FSPM financial statements after careful reading of OTCMARKETS disclosure requirements for each tier. I had to read this a number of times to reach my interpretation.
http://www.otcmarkets.com/content/doc/OTCPinkGuidelines.doc
FSPM is currently trading on the Pink - No Information tier. On this tier, there are no disclosure requirements, therefore there is no due date for filings. As soon as FSPM files an annual report with either an audit report or Attorney Letter, they will be reinstated to the Pink - Current tier.
Reasoned analysis and comment is welcome.
Where do you think yahoo and other financial sites get their information? OTCMarkets is the organization that runs the OTC markets! Yahoo does not! The Stop sign is applicable to ALL stocks trading on the Pink - No Information tier. The only way to remove the stop sign is for FSPM to file the required disclosures.
You should, they are the group that administer all of the trading on the OTC markets. It is also where FSPM files their disclosures. It is interesting that I seem to be the only one on this site that has actually read ALL disclosures ever filed by FSPM. Yep, very dull and boring, but the disclosures are where the real DD is done.
I can never understand why anyone would invest in an OTC stock without reading at least the latest Quarterly filing and any recent 8-Ks.
http://www.otcmarkets.com/stock/FSPM/filings
Two weeks ago the stock was trading on the Pink - Limited Information tier at OTCMarkets. Today it is trading on the Pink - No Information tier.
That's one significant difference!
Patient shorts getting rewarded with VPIG. Slowly scaling out of my position.
There is a good reason why those of is with decades of trading experience never put more than 5% of our portfolio at risk on any given trade. It is better to learn this lesson when you are young and can recover from a "black swan" trading event. Some older traders who have not yet learned this lesson put their family's financial future at risk with trades where they are absolutely 100% sure that they are right, and guess what -they blow out their account.
I am not saying that FSPM won't go to $10, with some solid sales and filings, there is no reason it couldn't, but then again nobody knows what the price will do.
Just limit your exposure and keep your position size small.
Disclosure - short FSPM - 5% of my trading accounts.
Look at the chart! FSPM is in a continuous down trend! Any savvy trader would be trading the downside not the up side! Once the trend turns up, then I would expect savvy traders to trade the long side!
The only "truth" that has value to a trader is what the chart says!
Because people on this board know all the details of FSPM, such as when the financials will be filed, the sales they have made but not disclosed in PRs so they should know if FusionPharm and VertiFresh, that shared the same address on Vine Street, both moved to the new address.
Did VertiFresh move to the new address, or are they still at the Vine Street address?
How many shares do you still have to sell?
Finding their current address may require a phone call. Their website FusionPharm.com gives two old addresses. The Wyncoop street address is an office building, and the Vine Street address is the address shared with VertiFresh, one of their "customers". They do not give the address of their new expanded sales and production facility on their web site. But then Scott is very busy and having an accurate website so potential customers can find you is not a priority!
Why not visit the much talked about VertiFresh operation that supposedly actually uses PharmPods to grow fresh organic produce while in the area!
Day traders traders may trade FSPM for a bounce, but no swing traders will take an overnight position in a company whose main partner has been suspended by the SEC. So the possibility of trader induced multi day runs has just dried up. Swing traders are heading for the exits as fast as they can!
LOL understatement of the year! If FSPM's major partner is a scam company suspended by SEC, doesn't look good on Scott Dittman!
Yes, but I am still waiting for an answer to my question. Why is it so hard to produce evidence of JUST ONE PharmPod that is actually used for commercial food production?
As for selling PharmPods for growing food, Scoty Dittman says in his Cannabis Radio interview at 17:40 that they are not currently pursuing this line of the business.
Why not? Because they can't sell any, because the concept is uneconomical for food production!
FSPM has always had an accountant to prepare their financial statements in the past. Scott Dittman is a CPA. If the financial statements are late it is because Scott Dittman wants them to be late.
As for growing food in a PharmPods please provide just ONE example of a company that uses PharmPods to grow food today, other than VertiFresh, which is run by stock promoter William Sears, Scott's brother in law, and has the same mailing address as FSPM!
Depending on your broker, you may not be able to enter an order online. For example, if you want to close a grey market position at Interactive Brokers you have to call the trade desk.
I have a short position in FSPM. I used to disclose this in my posts, but I have been lazy lately. Are stock discussion boards reserved for those with long positions?
I was waiting for this! Spongetech, an OTC scam which ended in jail time, bought Super Bowl advertising!