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I keep seeing the bid pull away from the ask every time someone is willing to unload. Once someone decides they want their cash they will chase the bid. I've done it myself.
I've been hitting refresh there all day hoping it doesn't show up. One of my go to web sites every day.
As to the profit taking, I agree that people holding would be better because the price would just keep going up but considering how pennies perform and the history of this stock I don't blame someone who bought in the .002s for selling at .015 even if if drives the price back down.
Nice to see this stock moving in the right direction for a change. I was initially worried it was just another P&D but it looks like the drops are just some people that bought really low just taking some profit and moving on.
It is trading so strongly it seems to be pulling that POS MFTH up with it a little.
You're missing several zeros.
FITX IS A BIG PUMP AND DUMP! Nothing more, nothing less.
The company's management is in the business of selling shares not products.
I believe bodybuilding.com will start to carry the product although I have not checked it out yet because I will not put another dime into this company until they get out of the business of selling stock and back into the business of actually selling supplements. The CEN product line was available at ProSource the same day it was announced. Other than the calling hemp "medical marijuana" BS the pumps have been accurate.
The problem is that despite having high quality ingredients (at least based on the labels) and good reviews the company management is only worried about lining their pockets and not building the company.
If this P&D ends up where all the others have--about 50% of the starting PPS--those 18 mil shares will be worth around $15k. I hope I am wrong and you make out like a bandit. I also hope you don't have too much more than that invested.
Yeah yeah. It's the market makers. Not the insiders dumping all their shares on a bunch of suckers. FITX has done this every 3-4 weeks all year. This Pump and Dump is right on schedule.
The real shame of it is that if they didn't do the dumps this stock would be at $0.50 minimum with excellent growth potential.
That is because all the new demand is being supplied by new shares in the float instead of the shares we own. If the supply goes up by 100 mill shares, the demand is met without the expected increase in price.
That is because all the new demand is being supplied by new shares in the float instead of the shares we own. If the supply goes up by 100 mill shares, the demand is met without the expected increase in price.
If there is no dumping going on, how is it possible that there are 5, 10 and 15 mil share blocks being sold on 40k share asks?
I hope I am wrong and the dumping will stop because the product should be bringing us all triple digit gains but every 3-4 weeks FITX publishes good news usually followed by a 50%+ drop in value.
They don't update anything until they have to.
They pump. They dump. They make a huge personal profit. We hold our shares in hopes that management will eventually get in the business of running the company rather than selling stock.
Besides, we cant afford to take the loss, or we buy into the rediculous idea the "its only a loss if you sell" or in my case don't have enough invested that the rapidly reducing value effects me that much.
It is a shame that one of the companies I have seen with the most potential is being Pump and Dumped into the ground and they are not even smart enough to do it in a way that maximizes their personal profits while allowing true longs to prospser some.
Nice little bump for MDHI today.
I wonder if it is in anticipation of financials getting released.
With almost 3 mill shares on the ask, I don't see it going any higher just yet though.
I sure hope Larry Spirgel, Assistant Director Division of Corporate Finance at the United States Securities and Exchange Commission doesn't shut it down before it can go on a big run. He appears to think the company is breaking the law.
I believe it might be time to consider filing a lawsuit against MFTH and Jacob Elhadad personally for the clear fraud he perpetrated in his capacity as President and Director (Principal Executive Officer) of the company at the time the dividend was announced to receive my share of the dividend as promised based on my shares held at the end of the ex-dividend date based on the the published outstanding shares as of the ex-dividend date.
I either want my $0.01 per share or my equitable portion of the 10 mil SAFC shares with the guaranteed $0.70 PPS value on the one year anniversary of the licensing agreement based on the approximate 650,000,000 outstanding shares as publicly listed at the time I purchased my shares in good faith to get the dividend.
Just because the OTC Report cannot do what they claim to with the information they get does not mean the numbers are meaningless.
Un-owned shares are being sold. They eventually must be covered. Any un-owned shares that were sold before the shutdown and not covered due to it still leave money in the seller's pocket without recourse.
Full disclosure, I don't have any shares of BIZM and I don't buy for a minute the massive short selling is what got it shut down. Out of curiosity I looked at OTC Short Report---which claims all their info comes from Finra---for BIZM's stats and it says there was some short selling over those last few days.
I really want to know what happens to all that money. If someone sold 1 mill NSS at $4.50 per share it looks like they will walk away with $4.5 mil for the foreseeable future.
It should be easy to get that amount considering 20x's that is getting dumped into the float every day.
A stock can't bottom out until the insiders stop dumping shares into the float.
If these guys had actually allowed the stock to build up without dumping, they could have made just as much money or more dropping a few million shares at a time that wouldn't be enough to destroy the PPS and still put tons of money in their pockets but they are so greedy they can't wait to build thing up properly. Instead they dump hundreds of millions at .002 per share.
Considering there are de-listed companies that update shareholders more regularly than SAFC it is not really surprising that the PPS has fallen so low.
At this rate they are going to have to print a lot of new shares to cover the terms of the MFTH contract.
The latest thing we have seen about shares were all posted by ceo1. There was a link to cnbc (maybe) that indicated 30 mil shares changed status from "authorized" to "outstanding" on Sunday June 9th when they were "purchased" by 2 insiders--15 mil each. No details of the transaction were given so we don't know what price they paid or if they were actually given in lieu of payment--the article did say the share were bought so I would guess that technically options that valued the stock at .ooo1 were cashed in.
If those 30 mil share were sold at a discount and are now being dumped into the market to be converted to cash, that would explain the drop in PPS. When the demand for a stock is averaging about 1 mil shares a day, 30 mil new shares in the market is enough of a dump to drop the price. 15 million share @.004 is still a $60,000.00 payday per insider. Not a bad flip if they paid .0001 per share.
While everything other than the announced purchase of those 30 mil shares is speculation, it fits what is going on with SAFC. I guess we should at least be happy that they did not pull another P&D which would have further hurt the company’s long term reputation and have just dumped on the current investors/followers of the stock.
ceo1---I hope I didn't offend. I just found it extremely amusing that you posted 15 significant posts that clearly took a lot of time and effort to put together over the first weekend after you informed us all that you needed a break from concentrating so much on SAFC.
Irony.
Hey ceo1---It's a good thing you gave up your position as a moderator on the SAFC board because you were getting burned out....This weekend you only had 15 posts between Friday night and Sunday night!
I guess I don't have to worry that I won't be able to count on your insight, thoughts or analysis anymore.
The first part of this is joking the second is serious. I was a little worried especially after your several day bought of frustration when it sounded like you were giving up on SAFC.
SAFC didn't buy. The big 30 mil share buy was insiders buying authorized shares from the company making them part of the outstanding shares. So far we have not been told what the share price was for the purchase but it leaves 30 mil new shares available to be sold into the float unless they were restricted shares.
Until the company provides us with the details of the transaction that, according to the link ceo1 posted, took place on 6-9-13 which was a Sunday we won't really know what is going on or it it is good or bad.
MarketShark---As of the last time data was released, 5-15-13 the insiders owned more shares than the rest of us combined.
From OTC MArkets
Shares Outstanding 1,684,873,919 a/o May 15, 2013
Float 814,165,226 a/o May 15, 2013
Authorized Shares 1,888,888,888 a/o May 15, 2013
Par Value 0.001
These numbers are much higher than those in the 3-31-13 unaudited financials the company released back then and there has been one additional Pump and Dump since then too. I tried verify current numbers but no-one was willing to provide an update after the latest P&D to see the change in the float.
I agree that at least the CEN products look to be very high end as long as they actually contain what the label claims. The reviews I have seen are all very good--although many come from this board and you never know for sure about those--I think I have seen some elsewhere too.
The bottom line is that if the company was run as a supplement company that intended to make money as a supplement company nobody would have anything to complain about. Instead it is being run as a company whose primary product is stock shares for insiders that are worthless to the company but very rewarding to the insiders when they sell them to us.
There lies one of the main problems with FITX. Every time the demand goes up the price goes down because the insiders dump their privately held shares into to the open market to feed the demand instead of letting the value of their shares increase even if that increased value is potential cash instead of the cash they are pocketing now. The only ones that benefit are the private individuals who own shares that were not previously part of the float.
The shares had already been issued to the individuals selling them so the company doesn't get any of the money. The PPS goes down so people who already owned shares lose value. The dilution in the open market makes it harder for the PPS to go up. The company gets a bad reputation as an investment so it takes more to pump up the demand the next time the insiders want to dump shares so the PR's become more inflated and eventually become outright false statements.
Any of this sound familiar?
ceo1--all that info is very old. Here are the dates, lenght and # of touts of MFTH's P&D's:
07-17-12 -7d 5t 06-11-12 -7d 6t 01-30-12 +7d 9t 11-07-11 -7d 1t
06-10-11 1t 05-18-11 1t
They have not done a P&D since July of 2012 and been relying on the SAFC agreement as their meal ticket since 11-15-2012.
Unfortunately, SAFC has been a much bigger player in the P&D market since then. We have discussed this before but I cant find the exact dates right now as pumpanddumps full list is only showing through the p's and I didn't save the P&D info for SAFC. Plus I am being lazy right now and don't want to search through my previous posts to find them.
Couldn't agree with you more. Wish I knew how to get in touch with your BC entrepreneurs. My state has Medical Marijuana but it is not approved for hypertension and I cannot even apply to have hypertension added to the list for several years even though reduced blood pressure is one of the few benefits Pot has repeatedly been shown to have--specifically when used continuously. I am willing to use continuously.
I am clearly not opposed to Pot or THC. My problems with FITX all have to do with how management is using the company to line their pockets at the expense of the long term benefit of the company and the shareholders which violates their fiduciary responsibilities and the methods they are using to do so including the blatant lies they are telling.
I was posting about the explosion of authorized shares, outstanding shares and float plus the repeated pump and dumps before the lie about them not violating federal law by using THC.
I really hope you are right. I invested in MDHI based on the product, the distribution network, the passive repeating revenue stream, the continuing debt reduction and the supposed intent to return to being a fully reporting company.
Unfortunately, until that step is taken, everything we hear needs to be taken with a grain of salt.
I don't have enough shares to retire unless the stock really explodes, but I have enough to make my life infinitely---not sure what the right term should be---better, easier, less stressful---maybe all of the above.
Thanks HuskerGuy.
I really would like to be positive about FITX. I have stated this before but so you don't have to try to find it I will repeat my history with this company so where I stand is perfectly clear--
When I first found FITX, I did not invest because the company's website does not list the ingredients of the CEN products anywhere. When they announce the dividend I bought some shares hoping to make a few bucks on a pre-dividend run up. When that didn't happen I held and by the time my shares freed up I was about even. Since I didn't have a ton of money in it I decided to let it ride.
Then came the ProSource PR and I went to ProSource's web site to look the products over and they all appear to be high quality products. I was thinking about putting more money in it the stock started to take off. Before I could, the latest pump and dump took place and then the blatant lie about not violating federal laws was posted with clear intent to deceive investors.
Part of what offends me so much is that, if they are formulated as the labels claim, CEN products will do extremely well and management is pissing it all away for a quick personal gain that could ruin the company and land them in jail.
fellowshort1---I believe you are correct that FITX uses hemp in the products they are touting as Medical Marijuana. Hemp is not illegal and is the THC free cousin to Pot. As I said, saying hemp products are "Medical Marijuana" is misleading and disingenuous but I believe it is something that should have been easily seen by almost everyone.
Enough people questioned the difference that led to a response from FITX on their FaceBook page. That response was posted here by SIObserver and is what really set me off about FITX. Here is SIObserver's post #37762 from Thursday, June 13, 2013 11:41:04 AM in it's entirety:
" This from an hour ago on the Creative Edge Nutrition Facebook page.
"We have had numerous questions about the company's entrance int the Medical Marijuana sector and that we are not really in this sector. We want you to actually read the Press Releases that we put out. "We have a licensing model in place where businesses in Marijuana friendly states can license our formulations and replace CBD with THC and have these products produced locally, without Creative Edge Nutrition violating Federal Laws." This should answer all questions. Thank you CEN"
https://www.facebook.com/creativeedgenutrition?fref=ts
SIO"
Clearly this statement is a blatant lie with intent to deceive investors. It was used to explain the previous exaggerations of what their products are that were intended to cash in on the buzz about publicly traded companies in the Medical Marijuana field.
Again you are mistaken stating that "the smoking of the plant is strictly prohibited" but "They can use parts of the marijuana plant such as THC as approved by the FDA "
The FDA approval for THC is not universal. Companies are allowed to create drugs using THC or other components of marijuana but each specific drug that contains THC must be approved by the FDA after full approval process including the phase 1, phase 2 and phase 3 trials that prove the benefit of the drug outweighs the risk. So far all the approved drugs are scheduled drugs and require a prescription from a Doctor licensed to dispense the specific schedule of those drugs. Not every doctor can prescribe every drug.
From whitehouse.gov on FDA approved THC:
"It is also important to know that the Food and Drug Administration (FDA) has approved medical use of isolated components of the marijuana plant such as THC, the active ingredient in marijuana and related synthetic compounds. Dronabinol is one synthetically produced compound used in the FDA-approved medicine Marinol (a Schedule III drug). Marinol is legally available by prescription from physicians for patients who suffer from pain and chronic illnesses such as cancer and AIDS. Another FDA-approved medicine, Cesamet, contains the active ingredient Nabilone (a Schedule II drug), which has a chemical structure similar to THC. And Sativex, an oromucosal spray approved in Canada, the UK, and other parts of Europe for the treatment of multiple sclerosis spasticity and cancer pain, is currently in late-stage clinical trials with the FDA. It combines THC and another active ingredient in marijuana, cannabidiol (CBD), and provides therapeutic benefits without the “high” from the drug."
Again, this just does not apply to a supplement company.
Now on to the stuff we agree on. I was 100% with you on the idea that FITX has been using the current hype around publicly traded companies in the Medical Marijuana field to pump the stock. Until they said they were not violating federal law, I was initially kind of amused by them referring to the Hemp products that way even though I felt is was disingenuous at best. However I thought most people would know the difference and was bothered that the ruse was so easily accepted.
I will reiterate that my attitude towards FITX changed when they went from misleading statements that should not have been that difficult to see through to publishing outright lies. Prior to that point my biggest problem with the company had been the repeated pump and dumps designed to enrich the insiders at the expense of the rest of the shareholders. These were also followed by misleading statements that should have been easy to see through like "the company is not selling stock to raise revenue" when it was clear that individuals on the inside were doing so for personal gain.
The problem with the pumps are they are not designed to stabilize the share price but to drive up interest in the company to allow the massive share dumps by the insiders. The other problem is that this process is constant--4 out of the last 5 months.
Finally--The real money to be made should be with Cenergy as those products are really high end, should be extremely effective and are not outrageously priced. If management had concentrated on manufacturing and distributing these products rather than printing and distributing shares and press releases I would have been one of the company's biggest cheerleaders.
Fellow short1---The fact that the current administration has not made prosecution of patients and caregivers working with prescribed medical marijuana in the states that allow it does not change the fact that it is still a violation of federal law. The article you linked to also makes it clear specifically who they intend to leave alone stating:
"In a memorandum to federal prosecutors in the 14 states that make some allowance for the use of marijuana for medical purposes, the department said that it was committed to the “efficient and rational use” of its resources and that prosecuting patients and distributors who are in “clear and unambiguous compliance” with state laws did not meet that standard.
The new stance was hardly an enthusiastic embrace of medical marijuana, or the laws that allow it in some states, but signaled clearly that the administration thought there were more important priorities for prosecutors.
“It will not be a priority to use federal resources to prosecute patients with serious illnesses or their caregivers who are complying with state laws on medical marijuana,” Attorney General Eric H. Holder Jr. said in a statement accompanying the memo"
This relaxation does not apply to a supplement company as the article also states:
"marijuana has not withstood the rigors of science — it is not medicine and it is not safe. D.E.A. targets criminals engaged in cultivation and trafficking, not the sick and dying.”"
To further the point, that article was written in 2009 and as of today the official government policy on Pot and THC --directly from whitehouse.gov is as follows:
"Marijuana is classified as a Schedule I controlled substance under the Controlled Substances Act (CSA). As a Schedule I drug, marijuana is classified under the following criteria:
A. The drug has a high potential for abuse.
B. The drug has no currently accepted medical use in treatment in the United States
C. There is a lack of accepted safety for use of the drug under medical supervision.
The CSA mandates that the scheduling and approval of drugs, including marijuana, must be done on both legal and scientific bases. The scheduling of a drug must conform to all applicable criteria contained in the CSA if the medicine includes a controlled substance. In June 2011, the Drug Enforcement Administration (DEA) reviewed a petition to reschedule marijuana. Based upon scientific and medical evaluation, as well as scheduling recommendations from the Department of Health and Human Services (HHS), DEA denied the petition to reschedule marijuana. HHS determined that marijuana has a high potential for abuse, no currently accepted medical use in treatment in the U.S., and lacks accepted safety for use under medical supervision.
Regardless of state laws to the contrary, there is no such thing as “medical” marijuana under Federal law. Marijuana continues to be a Schedule I substance meaning that it has no currently accepted medical use and a high potential for abuse."
With respect to the DOJ guidelines addressed in your article, whitehouse.gov goes on to sspecify:
"The DOJ guidelines do not legalize marijuana. The DOJ guidance explicitly states that marijuana remains illegal under Federal law."
So I will repeat what I said in my last post---The company specifically stated that their possession, use, and distribution of THC containing products does not violate federal law. This is a blatantly and purposefully false statement made with intent to deceive investors of a publicly traded company.
In other words it is securities fraud
Everyone---It is not a difficult concept. Regardless of individual state laws, outside of a few FDA approved scheduled drugs that require a prescription, possession of Pot or THC is a violation of federal law---never mind distribution.
Interstate traffic has nothing to do with it.
It may very well be possible to produce and sell these products in Colorado and Washington without a prescription without violating state law.
It may very well be possible to produce and sell these products with proper licensing and with a required prescription in some of the states that allow Medical Marijuana depending on each state's exact law.
Any possession of Marijuana or THC outside the previously mentioned FDA approved scheduled drugs WITH a valid prescription is still a violation of federal law.
The company specifically stated that their possession, use, and distribution of THC containing products does not violate federal law. This is a blatantly and purposefully false statement made with intent to deceive investors of a publicly traded company.
In other words it is securities fraud.
JoeMonte1---I believe ceo1 addressed that agreement in some detail during one of our discussions. He covered a lot of the positives while I did detailed reviews of the MFTH contract and the MFTH dividend of SAFC shares.
MFTH made me very afraid of SAFC initially.
Nice selective quote.
All the FDA approved THC products are schedule 2 or schedule 3 drugs and require a prescription. They cannot be put in a can and sold at GNC.
In a discussion about these numbers on the SAFC page I posted a reply. I would be interested in opinions from people here too. This is what I posted:
I wonder what the number of outstanding shares was on the ex-dividend date. I wonder if the insiders were expanding that number just prior to then to reduce the number of shares of SAFC were given out per share. This is another potential FINRA holdup.
In their initial announcement of an upcoming dividend they stated in the announcement that the outstanding shares were around 550 mil. The outstanding share count was about 100 mil higher when they gave the ex-dividend date. Now it is 200 mil above that number.
Shady shady shady. Considering that we know a significant portion of those added shares---possibly all of them---are not, or at the very least were not part of the float as of the ex-dividend date, FINRA would take notice of such deception without a doubt.
If all of the shares have hit the open market since the ex-dividend date it would easily explain the price drop. Even if only a portion of them are newly part of the float.
I repeat---Shady shady shady. Here are the official numbers as of 3-31-13:
MFTH Security Details
Share Structure
Market Value1 $909,743 a/o Jun 12, 2013
Shares Outstanding 649,816,679 a/o Mar 31, 2013
Float Not Available
I just checked the 10-Q filed in early for the quarter ending 3-31-13. It states:
Common stock, par value $.0001 per share, 2,000,000,000 shares
authorized; 649,816,679 and 91,903,319 shares issued and
outstanding, respectively
So if I am reading that correctly the float was less than 92 mil shares as of 3-31-13 That means that 86% of the dividend was going to be paid out to themselves at the point it was announced. Since that time, one of two things has happened. Either MFTH used the announced dividend as a pump and dump and lined their pockets with a bunch of cash or they gave themselves an additional 200 mil shares to increase their share of the dividend to almost 90%.
Based on the share volume and the fact that once MFTH hit .004 it fell back very quickly I wouldn't be surprised if it was a combination of the 2 moves thereby giving themselves some quick cash while intending to still own more than 8 out of 10 SAFC shares with a guaranteed value of .70 per share.
Shady shady shady.
Joseph199--According to Pumpanddumps, FITX has used this practice 6 times since September and 4 of the last 5 months to flood the float with insider's shares.
Then they lie and deny doing so just like they have refuted the questions about their false medical marijuana claims. Lie and deny by saying they do use medical marijuana where it is legal without violating federal law.
Except there is no place in the US where an over the counter THC based product does not violate federal law.
If they said "local laws" I would be skeptical, but Federal Law??? Come on, be realistic.
As I said in my first post on this topic there will still be people who want the company to do well that they will buy any explanation form them.
At least for the time being I am done with this topic. Here is the link again to the official White House web page that discusses federal pot laws.
http://www.whitehouse.gov/ondcp/federal-laws-pertaining-to-marijuana
Thanks Joe. A good place to start is the original license agreement that can be found as an attachment on EDGAR is several MFTH filings.
I think I still have less that 100 posts so looking at my page you sill find earlier posts where ceo1 and I had discussions about the agreement. All of our discussions were on the SAFC page. I think they are informative. I learned a lot about SAFC from ceo1.
I would be happy to revisit this after you have done your research.
The FaceBook post clearly states using THC would not violate federal law. That is a lie.
It is against federal law to produce or market a product with THC anywhere in the United States without FDA approval. Claiming otherwise is a lie.
Hemp is not Medical Marijuana. Claiming it is is a lie.
Saying "well, we only use the real thing in certain states" is a lie.
Saying that the practice of using the real thing anywhere does not violate federal law is a lie.
It is all simple english on this official government web page.
http://www.whitehouse.gov/ondcp/federal-laws-pertaining-to-marijuana