Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Agreed! I was just trying to be a smart-ass!
Indirect shorting of a Grey Market stock is possible in the following scenario.
I am currently short CANN at Interactive Brokers. Once trading starts up again, all that IB will allow me to do is close my position. IB does not allow traders to open any positions on Gray Market shares.
However, there are some brokers that allow opening of a long position in Gray market shares, such as e-trade I think.
So when trading of CANN resumes, and price action suggests an upside move like MDDD, I establish a long position in my etrade account that exactly offsets my short position in my IB account. Now I am net "flat".
Once the uptrend ends, and I decide the go short, I close my long position, and now I am net short due to my IB short position.
Rinse and repeat until a buy-in notice arrives from IB (I have held short positions of grey market stocks for up to 3 weeks before a buy-in)
So that is how a retail trader can short a grey market stock.
Disclosure - short CANN waiting for tomorrow's Ca-Ching! I do not have an etrade account or other account that allows a long position in a grey market stock, so all this is hypothetical.
We can not know wether or not the company is "pulling in money" until they file their financial statements. All else is unsubstantiated speculation. The fact that FSPM has allowed itself to be regulated to the lowest trading tier of OTCMarkets because of non-disclosure should be an issue to those thinking about investing in FSPM.
Under GAAP or equivalent accounting rules, a deposit is not revenue. Revenue is recognized when goods or services are delivered. No delivery, no revenue! I stand by my prediction that the financial disclosures will include revenues that many will find disappointing.
I also state emphatically that if any one can identify a falsehood in any one of my posts, I will apologize and request deletion of the post.
Did you notice that the address given for VertiFresh in the article is the same address used by FusionPharm? Not a good sign if you are trying to say that VertiFresh is not intimately linked to FSPM!
Thanks for helping to support my claim! The two examples you give are both companies that have close ties to Scott Dittman. VertiFresh is run by stock promoter William Sears, who is also Scott's brother in law. Scott sits on the board of Greenway.
If what you are saying is accurate, then the sales of pods to Greenway will not show up on financials for Q1 2014, as the Greenway sites are not yet ready to receive pods and therefore the pods will not yet have been shipped, and probably not even built yet. More bad revenue news. No wonder FSPM is delaying release of financial data!
Actually, no, the post is not funny at all. I have run the text of the referenced post through a humor analysis app, and it fails to meet the criteria established through a rigorous peer review process required to be classified as "funny". Why are leading people astray claiming that posts are "funny" when a description of "misguided" or "false" or "full of &*$#" would be more appropriate?
Disclosure - short MDBX, and home sick today with lots of time to post on iHub.
FSPM - Reply to an ancient post, but relevant due to current situation. Note that Sandra Sears is Scott Dittman's sister, married to stock promoter William Sears of Microcap Management LLC.
I am only asking off the name of ONE customer. How about someone who uses them to grow lettuce? They wouldn't have privacy concerns would they?
Well, if you have done your DD, perhaps you could identify a "real" customer to give confidence to the longs...
New FSPM Contest - "Identify the Real Customer". Can anyone identify JUST ONE customer that has purchased a PharmPod that does not have family ties to Scott Dittman?
All PharmPod sales go through their exclusive licensee Meadpoint Ventures. Meadpoint Ventures is a foreign owned, Nevada corporation managed by Scott's sister Sandra and his brother in law, stock promoter William Sears.
FSPM put out a PR announcing a big sale of PharmPods to VertiFresh. VertiFresh is managed by William Sears and has the same mailing address as FusionPharm.
FSPM identified Greenway Wellness a Foundation as a customer in Michigan. Scott Dittman sits on their board.
Most companies publish testimonials from happy customers and identify them in PRs. Who are the real FSPM customers?
Hi Mike, I saw your twitter conversation with AB. He has not yet responded about his blog post that FSPM is a scam and that Scott Dittman was dumping stock. He did say that he visited the facility and they were busy. So I don't think we can draw any conclusions yet...
You mean this link where Alan Brochstein says, on his own blog that Scott Dittman is dumping shares and that FSPM is a scam. Sheesh, why do insist on raising this issue?
http://www.marketfy.com/product/420investor/lessons/816/view/37722/
Level 2 is very ugly. Panic coming!
Insiders who have been converting preferred shares to common shares?
FSPM relegated to LOWEST trading tier at OTCMarkets - Pink No Information. See Warning at OTCMarkets site.
http://www.otcmarkets.com/stock/FSPM/quote
You have been warned!
Sorry, I didn't make it clear that Microcap Management LLC is one of only three holders of preferred shares of FSPM. The three holders are Scott Dittman, brother Rob and stock promoter Microcap Management LLC. Why does a company set itself up so that one of the three holders of preferred shares is a stock promoter?
William Sears runs Microcap Management LLC. Microcap Management LLC is a stock promoter. How is it that there are only three holders of preferred shares of FSPM, and one if them is a stock promoter?
William Sears is the manager of Meadpoint Ventures, the company that has the exclusive license for selling PharmPods.
William Sears is the manager of VertiFresh, the only company that FSPM has identified as a customer of FusiinPharm that uses PharmPods for growing vegetables.
So how is William Sears, stock promoter NOT involved in FSPM?
One of the three holders of preferred stock has already converted 20,000 preferred shares into 2,000,000 common shares during the last user and dumped them into the market. I encourage FSPM to file their annual report so we can see which insider did the conversion, Scott, his brother Rob or stock promoter William Sears, as well as how many more shares have been converted in the last six months!
How is it that other companies that are undergoing significant growth get their disclosures filed on time?
What lower tiers? Gray market and Evoked by SEC?
FSPM relegated to Pink - No Information tier. This is Scott Dittman telling longs that he doesn't care how low the stock goes. Why doesn't he want disclosure? Which of the three insiders, Scott, his brother Rob, or stock promoter William Sears are converting their preferred shares into up to 150 million common shares for dumping into the market?
No, it means they have been relegated from the Pink - Limited Information to the Pink - No information tier. This is the lowest go can go in the OTC Markets tiers. There is no excuse for this! Scott is CPA and was a small business consultant for Arthur Andersen. If he wanted disclosures filed on time, they would be!
In my town, if you want to fight a traffic ticket, you hire an ex cop!
The PharmPods that were sold to VertiFresh didn't travel very far as FusionPharm and VertiFresh shared the same street address! And it is somewhat strange that the manager of VertiFresh, William Sears, was a stock promoter. There are probably not a lot of stock promoters that change careers to the growing of organic produce!
The licensing of all MMJ growers is in the public domain, as are all zoning applications required for grow operations. The idea that the location of legal grow operations can be kept secret is just plain silly!
Can anyone figure out why FSPM selected a legal counsel who spent 10 years working for the SEC investigating and prosecuting fraud? Why not hire a legal counsel with expertise in international sales or patent law? I guess you hire the lawyer who can provide the advice you really need!
Can anyone provide the name and address of just one company that actually uses PharmPods where the company is not related to FSPM insiders?
So much news of sales to un-named customers, so little evidence of their actual use by growers!
Brochstein has not retracted his claim that FSPM is a scam. If he had changed his mind, you would think he would publicize his new opinion. That's what analysts do when their outlook changes.
http://www.marketfy.com/product/420investor/lessons/816/view/37722/
I think that a lot of day traders came in and out of FSPM today. I think that the intra-day volatility they cause will continue, but the price will continue to climb day by day.
Insider trading is ethical?
The resident short (me) is hereby predicting some significant price action to the upside on the daily chart. No idea how long the trend will persist.
FSPM on ModernRock's watch list. This guy is one of the biggest day traders around. If he and his loyal followers move back into FSPM like they did on the first run up, be prepared for a significant spike in price. Unfortunately when they decide to take profits there will be significant selling pressure.
#MRockScans : What is on my screen when market opens : $FRTD $FSPM $IGXT $SOUL $MCIG $VEND $CTTG $MDBX $FNMA $CANV $CANA
— Modern_Rock (@modern_rock) April 2, 2014
A Contact Us page with no address of the corporate offices or sales center? And no phone number to reach a marketing rep? Please tell me this is an April fools joke!
If I am lo longer short, am I still a short?
I am no longer short. Everyone has their own way of determining trend, but my method indicates that the downtrend on the daily charts has been broken.
I anticipate some good action to the upside here. A breakout above the 52 week high around $9 would be super bullish!
Until that time, there are a lot of pot stock momentum traders looking for the next big move. With the rest of the sector not doing so well, they could move into FSPM into a big way if the price keeps moving up for a day or two. Some news would also help, perhaps pre-market tomorrow?
GLTA, especially to those longs whose positions are in the red.
O/S = Float + restricted shares
It is the low float that provides the opportunity for volatility.
Due to "late" filing, we only know what these numbers were as of September 30. Insiders have 1.5 million preferred shares convertible to 150 million common shares. The O/S and float could be way higher than the current published numbers.
An insider selling 2,000,000 shares out of a float of 5.5 million is not a minor sale. At an average of $5 per share over the last month, thats $10,000,000. How many PharmPods does FSPM have to sell to earn $10,000,000 in profit? No need to work your butt off selling PharmPods if you are selling this amount of stock.
Don't forget, profit is split among shareholders. Scott Dittman owns 1.3 million preferred shares, which are convertable to 135 million common shares. The float is tiny compared to Scott's ownership.
Note that recent PRs of sales have all had a small actual sales number and a large "anticipated sales" number. There have been no $2,000,000 sales of PharmPods, if you read the PRs.
Microcap Management LLC, of which William Sears is listed as managing director, it the third owner of preferred shares after Scott and Robert Dittman.
See Annual Report for 2012
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=100505
See Page F-10 under Note 7 Shareholders’ Equity
During the fiscal year ended December 31, 2012, we issued 619,000 shares of our common stock for the conversion of
6,190 shares of our preferred stock by Microcap Management, LLC.