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Your broker is being very unfair. Interactive Brokers will close out a position on a stock that has been relegated to the Grey Market after a suspension without charging the normal trade desk fee. It is not your fault the stock was suspended, your broker should be willing to close the position without the hefty fee.
Getting close to my short covering price. If the price is above my cover price as we go into the close, I promise to cover and not post any more insightful analysis until the next down trend starts up again on the daily charts.
If I do cover, then it is actually in my best interests for FSPM to rally strongly so that there will be greater downward pressure when the next down trend starts. So I will in effect be cheering for FSPM from the sidelines!
Yup, $0.60 could be the last support level, after that no trading history! So I suppose the next support level after that would be $0.0001?
What about those who sorted at $5.00 when the last bounce failed? How are they doing?
How about the investors who went long in March or April, how are they doing?
CBDS is about to fall out of bed, more likely. This was a beautiful short trade, I am currently boxed, waiting for the down- trend to resume.
No revenue, no assets, just wild hype about patenting a strain of weed.
Well, I guess we will just have to say that Scott is just plain unlucky. Of all the hydroponic and indoor grow suppliers in the US, he chose to partner with the only one that gets suspended by the SEC!
No red flags here, in fact nothing to see at all, move along everybody...
There is no evidence that Scott Dittman is a "certified master herbalist". As Scott Dittman himself never makes this claim, I find it strange that you do!
READ!!!!!!!!!!!! Laura is the herbalist, not Scott. Duh!
Thanks for providing a link that supports my assertion that Scott Dittman is NOT a certified master herbalist. Why do the long biased cheerleaders continually post misleading information?
You should do some research on the some of the other FSPM insiders, such as William Sears, a stock promoter and Scott's brother in law, who runs Meadpoint ventures, the company that has the exclusive licence for distribution of PharmPods, and also runs VertiFresh, the only company that has ever used pods to grow veggies. Note that VertiFresh shares the same address on Vine Street as FSPM. William Sears ran Microcap Management LLC, a stock promotion company. Microcap Management is one of three holders of FSPM preferred shares.
On the Greeneway Wellness application to MASS for dispensary licences, Scott Dittman lists A house owned by William Sears wife Sandra as his business address.
I don't think there will be any effect on FSPM trading when PHOT resumes trading. I can't think why there would be.
How "active" is the FSPM contract with Greeneway Wellness in MASS if Greeneway does not yet local approvals required for its dispensaries. No dispensaries, no cultivation, no shipping of PharmPods, no revenues!
Huh? FSPM is not an SEC reporting company! Please do not imply a reporting status that is not true! They are Pink - Current Information at OTCMarkets. FSPM does not file with the SEC!!!!
A GFOX close below $0.75 will be the lowest close ever. At this point, 100% of all retail longs will be bag-holders. I am still patiently short, scaling out slowly, starting to look for a final exit.
So add those three million shares issued for peanuts to the two million shares resulting from Scott's conversion of 20,000 preferred shares last year and you have family members dumping over 5,000,000 shares into the market. Who needs to sell PharmPods when you can make $10 million plus dumping shares!
Next technical support level for FSPM is $1.00.
Why is the fact that FSPM's close business partner Growlife PHOT, suspended by the SEC, will be back trading in the Grey market good news for FSPM?
Perhaps there is no good news. The PR they put out on the Greeneway Wellness purchase of pods is no longer accurate. Greeneway has not yet been able to secure the required permissions for any of their dispensaries. No dispensaries, no cultivation, no PharmPods. While this sale may go through eventually, there will be no Q1 revenue IMO. If you read the actual Greeneway Wellness license applications, you will also see that the value of PharmPods to be used in the operation is significantly BELOW the amounts talked about in the PR. More bad news!
What a great post. Although I am short biased whereas you trade from the long side, I can recognize solid trading advice. Pay attention newbie traders and kool-aid drinkers out there!
I looked at past revenues and noted that they were significantly restated downwards in the last 10K!
Perhaps the only 10K disclosure for any OTC stock where neither a third-party accountant or auditor participated in the preparation of the financials! Before the 10k came out we were told that Scott Dittman was too busy growing the business to get the report out, and that there was a team of THREE auditors working on the financials. When they are finally release, no auditor and no accountant were involved. Scott Dittman prepared them himself! (He is a CPA, but what happened to the company's accountant and the auditors?)
GW Pharmaceuticals has revenue of $44 million. And no sign of PharmPods for cultivation anywhere on their website!
www.gwpharm.com
Why do you expect good revenues in Q1? Unlikely that the delivery dates for the Greeneway Wellness pods would before the Taunton cultivation site is ready to receive them. Revenue is not recognized until the pods are shipped. And the Canadian order"started" shipping on March 28. Unless the company has sales that they have not told anyone about, there are no other sources of significant revenue for Q1.
If you or anyone could post evidence of "explosive growth" I am sure it would be appreciated by all.
It certainly wasn't evident in the recent financial disclosures.
FSPM - a close today below $3.00 would be extremely bearish from a technical analysis point of view.
The battle for $3.00 starts...
FSPM power hour (Stuka style)
Yes, I am short again. No news, no sales PRs, downtrend on the daily chart. No reason to be long FSPM...
I agree with you, a day trade FSPM short position to take advantage of price weakness is an excellent idea!
My very patient short position is finally being well rewarded!
How can any FSPM shareholder have confidence in the financial statements signed off by Scott Dittman. The annual report for 2012 stated revenue was $808,398. Scott has just restated the 2012 annual financials, and revenue is now $308,398. Oops, sorry about overstating revenue, hope that didn't affect anyone's investment decision!
If he used it for the company, then there would be a corresponding entry in the financial statements. Don't forget that as Scott states in his Cannabis Radio interview, he took FSPM public on the advice of his brother in law, and his brother in law, William Sears is a stock promoter!
We knew from the q3 financials that one of the three holders of preferred shares Scott, brother Rob or brother in law stock promoter William Sears converted shares. We didn't know which one. Now we know that it was Scott.
Read the disclosed supplemental information from this year and compare holdings of preferred shares to last years report. You will also see that Scott still has preferred shares that can be convertible to 128 million common shares!
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=118849
Well, at least we now have the evidence that Scott Dittman converted 20,000 preferred shares into 2,000,000 common shares and dumped them on the market. Nice little payout there! Sure beats the $60,000 salary he gets as CEO of FusionPharm!
So Scott Dittman prepared the unaudited financial statements for FSPM himself, without the assistance of an external accountant. No red flags there! See filing of lawyers opinion letter.
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=118876
So not only were the auditors unwilling to sign off on the financial statements, he couldn't get a third party accountant to sign off in the accountant role either.
And I would assume that Scoot, a CPA and former small business consultant for Arthur Andersen, would have established the financial processes and controls that would make an audit a relatively painless endeavour.
In any case, given all this good work by FSPM, I look forward to the timely release of the financials.
Scott anticipated they would be ready by the end of February. Then he anticipated they would be filed by April 15. Given your close ties to the company, can we expect to see them soon?
So are you implying that the financial disclosures made by FSPM over the last three years contain serious errors or mid-statements and that is why it requires a team of auditors a long time to sort out?
So where are the audited financial reports then? Three auditors for a 1 to 2 million revenue company should have finished long ago!
Red flags from PharmPods.com
On the map showing PharmPod location in US and Canada, eight locations are shown. FusionPharm have been selling PharmPods for over two years. So one new location or sale every three months.
Look at the map on their new website! One new location every three months on average!