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OK, I admit misreading part of the Pr related to financing, but it does not negate my point about when we will see revenue appear on the financial statements from this contract.
In the PR, there is no mention of the value of the signed contact, number of pods, or anticipated delivery dates dates. I am not sure that Greenway Wellness would be willing to commit to an order until local zoning is approved at each site. The zoning process would not have started before mid January, and I have no evidence that Mass has a fast track approvals process for zoning for MJ production and sale!
To my knowledge, FSPM builds to order based on client requirements. This requires a certain amount of engineering work, ordering of components,assembling of components, systems integration and testing. This takes time.
I see little if any revenue from this order showing up on an income statement until Q2 2014. I await posting of financial statements to prove me wrong.
You are mistaken. I suggest you read carefully the PR issued by FSPM.
Reality ChecK: Read carefully the PR about the sale to Greenway. The PR states that they have made a sale. Great! The PR also says the anticipated order size is $4 million over 2 years. Therefore the value of PharmaPods contracted to date is unknown.
PharmaPods are made to order, and each is configured differently based on client requirements. Under standard accounting rules, revenue is not recognized until the product ships. Therefore there will be $0 revenue from this order in the financial statements for Q4 2013, and probably $0 for Q1 2014 unless they are able to complete the production of one or more pods by the end of March. In any case, the order is spread out over 2 years and the actual value of the contract is unknown.
Anyone making wild prediction about revenue for these two quarters should call the company and ask them about time to deliver after a contract is in place, and what their current production throughput capability is.
Websites for OTC tickers that focus more on selling shares than selling goods and services is often an indication of a the intent to dump shares for insider enrichment (pump and dump).
Now that couldn't possibly apply to an excellent company like GANK could it?
Trend depends on the timeframe of the chart are looking at, and the specific algorithm you use to determine trend.
I look at the daily charts, and the closing price.
For me, a close today below the lows of the last four days of consolidation would signal a trend change, as would an inter day extended move below $7.
For other traders using tight trend lines the uptrend was broken earlier today.
FSPM has no obligation to report financials to the SEC. They post their financials on OTCMarkets in order to stay in the Pink - Limited tier. If they are late, then they will be relegated to the Pink - No Information tier.
They got bored of the never-ending wait for NENE to produce something that could actually enter production one day, and have moved on...
I fully agree. Nice dump!
I would tend to use the words "least over-valued" to describe FSPM in relation to other MJ sector stocks.
I sympathize with your frustration. There are many people who post on iHub who use technical analysis terminology without any understanding of the standard definitions of the words they are using. The descriptions given earlier today of a double top and triple top are just plain wrong, based on any one of the technical analysis reference texts on my bookshelf, or definitions provided courtesy of google.
Tweet from Nate @investorsLive - this guy can bring a lot of day traders in and out of a stock so watch for volatility
https://twitter.com/investorslive/status/443398966382952448
Yes still short. I trade in the direction of the daily charts. I react to price action, so if the uptrend resumes, which it looks like it will based on today's price action, I will box up my position (net flat) and wait patiently until the downtrend resumes. The higher VAPE goes, the higher the potential for a spectacular collapse.
GLTA, both long and short.
OK, even this short-biased trader predicts a breakout tomorrow.
Kudos to the BBYB/FSPM insiders for their patience and price management skills.
I agree with redrock, there is NO evidence of any products that are available for sale, either by VAPE or by their not yet finalized acquisition of Hive Ceramics, a company owned by the CEO of VAPE that he is selling to VAPE - no possible conflict of interest there!
There, I have done my DD, now you do some to provide evidence of saleable products!
It is supposed to be a secret, but I heard they will be the first company to market with a vaporizer for cannabinoid infused snake oil.
Disclosure - short.
All price action shows up on charts. I observe the price action, I make no predictions.
When (if) the price blows past $10, this will obviously be wildly bullish price action, and it would be very foolish to hold a short position at that time. So I think I agree with you(?)
I am not short, I am flat (boxed). I just think it is useful to balance some of the mindless cheerleading on this site. I will only go short when the daily chart is showing a downtrend, still looks like an uptrend to me, but getting a bit shaky.
Trade safely, longs and shorts alike...
If only Oink could somehow convince it's growing subscriber base to actually use the service and generate revenue, then VPIG might one day become a target or takeover.
Until then, you seem to be justifying a market cap of $192 million on the fact that they have gathered email addresses (subscribers) of lots of people who visited the site.
L2 is so thin. Could close at 6.00.
As far as the SEC is concerned, FSPM is a non/reporting company and has no obligation to file financial reports.
FSPM management choose to submit financial reports to otcmarkets, but again they have no obligation to do so. So there is no official "due date".
It will be interesting to compare actual revenue numbers in the next filing with some of the wild hype presented on this board. For this reason, it is my belief that the filing of the next financial statement will be unavoidably delayed.
Reality check: from VPIG lastest quarterly filing with SEC:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9599156
500,000 registered users
$50,292 merchant transactions
$13,766 gift card sales
Total revenue to VPIG $1,382!
Do the math - quarterly transaction per user - thirteen cents!
Users don't seem interested in using Oink!
At least there is room for serious revenue growth!
The most important concept is to have a trading plan BEFORE you enter a position, and then follow your plan.
What do you plan to do if the price rises? Will you scale out, exit at a target?
What do you plan to do if the pice drops? At what point will you close out your position?
These MJ stocks are highly volatile, FSPM could close today anywhere between $4 and $20 based on recent price moves in other MJ stocks.
If you don't have a plan, you should close your position before you get seriously hurt.
Unfortunately, got bought-in by IB this morning pre-market. : (
The tweet in question:
$VEND Ceo arrested with a pile of coke and like 16 strippers, dude was rich from one pump! #bouttime
— Stock Hollywood (@StockHollywood) March 6, 2014
FSPM is a non-reporting entity as far as the SEC is concerned, so they have no obligation to file financial statements. They do however file their quarterly reports on OTCMarkets to give the company an air of respectability.
My suggestion is that they will be "late" (although there is no due date) because the results will be disappointing after the never ending cheer leading on this site.
The old fashioned way of determining a trend:
Pull up the chart you use to determine trends. Now step back six feet from your screen and look at the fuzzy shape the bars make (assuming you have poor eyes like I do) I use the daily charts and FSPM looks to me like it is still in an uptrend on the daily chart.
A day trader would pull up a one minute chart and say we are in a down trend.
So it depends on your trading horizon.
When looking at the daily chart, you should also see where the close is for confirmation of a trend change.
Disclosure - flat but may re establish my short position soon if the price keeps heading down.
Short from 58.80 after unboxing at IB, got buy-in warning this afternoon. I will hope for the best, but may not be with you all the way to 5.
But for some reason, still going down...
Based on the twitter feed $VEND, the guy who sent it is a well known trader of promoted stocks and has admitted sending it as a joke. A lot of day traders who know him are pissed as he caused some of them to enter positions they would not have otherwise entered. It is a good read, search twitter for $VEND.
Well, although VEND is a "real" business, it was established primarily as a vehicle for insider enrichment through running a pump and dump scheme. Most of us on the short side were expecting an SEC suspension before it got this far along.
Sales are not the same as revenue. There are accounting rules on when revenue is recognized. Also, the largest sale reported in a PR was "anticipated" and not based on a signed contract.
Talk is cheap, until there is evidence of a contract reported in a filing, it is just talk...
You realize that the earnings are for fourth quarter 2013, BEFORE all the changes in state law could affect revenue, and BEFORE any of the recently announced "sales" and BEFORE FSPM would have been able to expand their production facilities.
If you are expecting great news when the financial statements are filed you may be disappointed.
And as I am sure you have read FSPM filings and are aware that revenue for third quarter 2013 was LESS than for third quarter 2012.
No post market session available for OTCs only premarket. Although for some reason OTCBB trades until 4:01.
MMs can trade pink sheet OTC shares in the premarket session. If you have a trading account that lets you direct an order to a specific MM like SpeedTrader, you can submit an order to a MM in the pre market session, but they are not obligated to take any action until the regular session opens.
You can trade OTCBB stocks in the premarket session if your broker can route through ARCA.
I have shares boxed up at Interactive Brokers. Patience with GTC orders pays off. I managed to get shares just before the last dump and added some more after the dump.
Epic battle between longs and shorts to occur for the rest of this week. One of the most successful short-biased penny stock traders has just fired the opening shots. If you don't know who LX21 is, do some research.
On June 30, 2013 $CANN issued 12.4M shares for $0.001/share. A gain of 6 MILLION percent gain in a year. That puts Warren Buffet to shame.
— lx21 (@lx21) March 5, 2014
I second that excellent advice!
The "deer in the headlights" trading strategy usually ends in road kill.
Do a bit of research and draw your own conclusions. As a hint, if I am short a scam promoted stock which is tanking fast, and his chat room collectively decide to go long on a bounce play, I say $@fkkkkk$&@!!! and try to cover as fast as I can.
Any attention he draws to a stock is good for those trading in the direction he implies.
Positive thoughts on FSPM. Nate Michaud at Investors Live.
$FSPM may be the next sympathy to $CANN and we see it over $10 on squeeze
— Nathan Michaud (@InvestorsLive) March 5, 2014
Positive thoughts on FSPM from one of the most successful traders around. When his followers move in and out of a stock - watch out!