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I think it needs to be addressed by management. He did nothing illegal but when the bod goes to give sterling some stock incentives down the road, shareholders can't do anything about it at that point because canx will own 49% and sterling will own enough to pass it even if they put it to vote. Your opinion as a shareholder no longer matters.
The canx deal came with a huge price tag to shareholders and that cannot be overstated. The deals posed so far are great but don't justify the dilution from the canx deal. Most on this board don't even realize that canx is already slated to receive well over a billion shares once they have full deal realization... On top of what's already been given to Fitx and RXNB. Oh and by the way they also own 50% of growlife's most lucrative business before they even take that 50% of the equity of phot.
Also don't forget they are blank check which means the conversion rate is unknown
Smells like a kickback to me, sterling takes care of the canx guys on the front end with the promise that they will take care of him later once they obtain control of the bod. All that dilution that sterling took on will be gone once he gets a handsome performance award from the bod all the while common share holders piece of the pie gets smaller and smaller.
Less and less shares in float IMO
He was approved for 15000 kilo grow operation (33000 pounds) which sounds like the amount he requested for approval. Fitx is shooting for 1.3m pounds. So this guy anticipates around $3k revenue per pound.
Applying this revenue per pound to Fitx planned 1.3m pounds you get around $4b annual revenue.
Of course this is if Bill is able to get approval on the full 1.3m pounds and then be able to sell this much.
This is fantastic data to plug into my model thanks for sharing I had guessed revenue per pound of $1k but I imagine this other guy has a pretty good idea what it will be.
Up before down IMO but one could do worse than aligning with pcan
Bought back in they can't just leave it hanging and pps already crushed
I would be willing to bet that they already have sufficient proxie to declare approval though. Insider shares plus defaulting all non voting shares to the BOD recommendation of 'for' doesn't leave a lot needed.
Could create a good buy point this afternoon
Good point burton perhaps they have It after market to make their shareholders feel special and release subsequent pr.
If news is released today it should come via pr and not verbally in the meeting. Im not certain but i doubt the sec would take too kindly to management giving a subset of shareholders that are sitting in a meeting a head start on the rest of the world.
They are required to release information via typical means, which for growlife has been press release.
The question is do they give gift news upon the a/s authorization. Seems this will be a swing point one way or another. I don't consider myself a gambler so idk
Should be interesting that's for sure
Officerk, thanks for your posts that I have grown to appreciate. I agree about the Q4 financials and I doubt I will be holding when those are released... But these deals appear to be highly accretive to phot and IMO the longs should be more excited now than ever.
Sterling is swinging for the fences and I hope he executes and hits it out.
NRC the reason fspm is high is frankly because people are really not that smart. Their preferred stock converts at a rate of 100 to 1 into common stock and management is slowly doing so and paying their salary through just little enough dilution so nobody notices. The conversion rate means that the cs there is practically worthless and the true market cap has to be approaching infinity at this point.
I think it could be a golf umbrella by the team this is all said and done.
The brilliance is that they are not taking controlling interest in these companies. They are leaving control out of their own hands (because that would be impossible to manage all these companies) but at the same time positioning these companies to interact with the other companies under the 'umbrella'
This thing is about to get turnt up
delete
Wow this 8k is huge.. How is this not the only topic of discussion?
Burton I think you know I feel your phot pain and I lost similar to you in about 24 hrs...
With that said I am still holding Fitx (been in and out since .005). If Fitx's grow plans come to fruition even to a fraction of their plan, then this stock is way undervalued. I think you saw my model.. Anyway I hope I don't get burned again but what Fitx claims to be doing is going to lead to some serious profits if they arent totally full of it. After the phot agreement I don't think there is a ton of risk that they are full of it.
Congrats on your profits... Maybe I just need to taste puke coming up twice before I learn my lesson. However, on the cusp of phot's crash I had that oh s* this is insane high feeling.. My gut tells me Fitx has room to fly. There have been some massive buys I think of people like myself that realize if Fitx sells even 300k lbs per year, they are undervalued by >100% as it stands today.
Good luck!
The a/s increase in priced in eom
Global - Complete that sentence though...
"In exchange for the rights listed above, and others, GrowLife will issue to designated CEN Biotech shareholders a total of 235,294,118 shares of restricted GrowLife common stock, the equivalent of $40 million at $0.17 per share, after CEN Biotech is formally approved to produce and harvest cannabis by the appropriate Canadian authorities."
I read it to mean that the 'in exchange for the rights above' stipulation is not saying that the $100m payment is in exchange for the ongoing revenue sharing + equity, but rather that it is just referring to what Growlife is giving back in exchange for the totality of revenue sharing + equity + $100m payment
Global not sure I agree.
What I read does not indicate that the revenue sharing with ogi terminates at the time of the 100m payment. Is this written somewhere I am missing? We know the equity continues into perpetuity so if you are calculating deal value you need an annuity with 25% of the cash flows from CEN to plug into a DCF. But I don't see anything to indicate the 7.7% terminates at time of payment so when I calculate deal value I throw in an annuity for that as well.
Shell - I think a lot of what will determine whether this deal is accretive (and just how accretive) is how long the deal is contractually. I have ran some calculations on the deal and it appears to be highly accretive to PHOT.... I'm waiting for some other opinions on my model but my basic assumptions were:
- 300k Lbs sold / yr by FITX (pretty conservative, imo)
- $1,080 wholesale price / pound
- Contracted annuity based on
- 5% interest rate
- 20 year contract life
Even if the contract is only 10 years, this would give a break-even for PHOT of approximately 100k LBS annual sales by FITX.
Spot on la, this is not the only deal. I think it was released early because the Fitx CEO all but went streaking with phot painted on his chest.
This is going to be the biggest deal and will be the first of a few with Fitx if they are successful and develop new grows. To those bashing here I think the major pps increase will come when phot releases that they have more deals in place than just this. Fitx was expected but I think they aren't done throwing their weight around.
To sell right now upon proof of concept doesn't make sense, IMO
Spot on la, this is not the only deal. I think it was released early because the Fitx CEO all but went streaking with phot painted on his chest.
This is going to be the biggest deal and will be the first of a few with Fitx if they are successful and develop new grows. To those bashing here I think the major pps increase will come when phot releases that they have more deals in place than just this. Fitx was expected but I think they aren't done throwing their weight around.
To sell right now upon proof of concept doesn't make sense, imo
Does monkey accept tequila as payment?
Snow day to focus on this :)
Thanks la,
I'm beginning to understand the value technical analysis brings. I have had pretty good instincts so far but don't think I have a large enough data sample to trust them so some framework would be nice.
In a lot of ways I can parallel trading to playing poker. The strong prey on the weak, you need to know the math but its not the be all, and you have to have a pair of balls to win big.
Some of these good traders should try their hand at poker I think they would do well.
La - I am reading the book you suggested on price + volume considerations on trading. Question in the interim, is the 'a' point always necessarily began at the ultimate bottom? Ie you are quoting .175 as the a but let's say this point was only touched momentarily on a panic sell. Could the a be higher of the ultimate bottom was really just an aberration?
Nm sorry thought you were talking about phase 4
Officerk the additional warrants given in blocks is capped at 50m warrants
I'm not sure I understand your chaaban beef. Apologies if already posted it but can you clarify what you mean?
Annual report = April 1
Confirmation phot is supplying a 1.3m pound grow and we back up? Isn't this really good news?
Better for phot than Fitx, IMO. Already knew Fitx was making a large grow
Market slow to react?
You drunk LA? Lol
Wild f*ing west