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Exchange of Preferred Shares to Common Shares added to the float - insider dumping:
FSPM Annual Report 2012:
http://www.otcmarkets.com/financialReportViewer?symbol=FSPM&id=100505
Freely tradable shares (public float): 2,033,370
Preferred stock: Number of shares outstanding: 1,487,330
Scott Dittman 1,300,000
Robert Dittman 176,504
Third shareholder (by calculation) 10,826
Series A Convertible Preferred Stock
Right to Convert. Each share of Preferred Stock shall be convertible, at the option of the holder
thereof, at any time. The conversion ratio is 100 to 1. In other words every one share of Preferred
Stock converted will equal 100 shares of Common Stock.
FSPM Quarterly Report Q3 2013
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=115419
Freely tradable shares (public float): 5,463,435
Preferred stock: Number of shares outstanding: 1,467,330
See page 11 of this report where it shows the conversion of 20,000 shares of preferred shares into 2,000,000 common shares, which were added them to the free trading float. There are only two holders of preferred shares with enough shares to make this share exchange, Scott and brother Rob.
I look forward to the annual report. We will then know which of the three insiders converted 20,000 preferred Series A shares into 2,000,000 common shares in Q1 2013 and has been dumping them. There are only three preferred share holders - Scott Dittman, brother Robert, and stock promoter William Sears / Microcap Management LLC. If it turns out that Scott Dittman is dumping, then Scott will have some explaining to do!
There seems to always be an excuse for why FSPM does not behave like a normal company.
No contact information on their website or marketing material? - too busy...
Customers never identified ( except when they are related to FSPM) - privacy.
PR announcing sale of pods to VertiFresh - buyer and seller have the same address! Wow, certainly saves on shipping costs when they don't have to leave the yard.
Website extols the benefit of pods for veggie growing, Scott Dittman says in interview that they are not pursuing that line of business.
The manager of the company with the exclusive licence to sell PharmPods is a stock promoter - William Sears.
No red flags here...
Everyone on this board except me seems to know the details of sales that have not been published, and when the next PR is coming out. The only things I know are what FSPM discloses in filings, and the fact that the price keeps sliding! So while I know that insiders are converting preferred shares to common shares and adding them to the public float, no one else on this board wants to talk about this. How about you insiders identifying just one recent customer of FSPM who is not related tin one way or another to one of the three holder of FSPM preferred shares (Scott, brother Rob, or stock promoter William Sears / Microcap Management LLC). Just one , that's not too much to ask is it?
FSPM strong for shorts. Nine down days in a row!
WOW, all these big buyers and the price just keeps sliding!
Amazing how desperate insiders are when they are trying to prevent the ongoing decline of FSPM price per share. There is no evidence tat what you claim is true. There is undeniable evidence that Alan Brochstein claims that FSPM is a scam! Why not ask Scott to call his good buddy Alan and ask Alan to withdraw the claim?
Alan Brochstein claims that FSPM is a scam -
http://www.marketfy.com/product/420investor/lessons/816/view/37722/
Please provide evidence to support your claim that he has " changed his mind". If he has changed his mind, why wouldn't he take the time to post something positive about FSPM on is blog?
Www.pharmpods.com contact us page is blank. No address given for company executive offices or sales center. Name one other corporate website for a legitimate company that doesn't provide this information.
As someone who provides Awareness Services to Microcap stocks, you would be the one to know.
June 30. That is the cut off to prevent relegation from the Pink - Limited Information to the Pink - No Information tier.
Did the contract for paid cheerleading promotional services run out? Before each recent PR, there were significant mindless cheerleading messages to increase the message count and board visibility.
Alan Brochstein says FSPM is a scam!
http://www.marketfy.com/product/420investor/lessons/816/view/37722/
BINGO!
Well, that's not really accurate. FSPM trades on the Pink - Limited Information tier. To maintain this tier FSPM has six months to file disclosures after the close of a financial period. I would've hold your breath for a filing any time in April.
I guess the point is that a CPA and former Arthur Andersen small business consultant should know enough about running a business and planning to ensure that financials are not late, especially if you intend to move to a higher tier on OTCMarrkets!
I agree, financials are often delayed when there is an expectation of good news, and the financials contain disappointing revenue...
I think the price would go up if FSPM issued a PR for a sale where they identify the costumer, the number of units for which a signed contract exists, and delivery dates. That's what "real" companies do. Scott Dittman is a CPA and has provided consulting services to small businesses when he worked for Arthur Andersen's small business consulting group. You think he isn't aware of this?
And as a CPA, there is no excuse for delayed financial filings!
I love it when Interactive Brokers tells me that CANN is easy to borrow today. Then let me borrow it, da#m you!
What happened to the marketing brochure that was stickied earlier today, you know, the one that didn't include any information on how to contact the company. #fail
FSPM had great news today! Why is the price not going up? Maybe I will wait till it goes down some more and load up! The loser it goes, the more we will all make when the price goes up!
Disclosure - short
I am short 8 MJ stocks right now. Almost all are OTC pot stocks are scams.
Hey, you beat me to it!
I think today's price action is the result of this mornings SEC suspension of CANN. Traders who are long and understand what is really going on may be pulling funds out of the sector because of fear of getting trapped in a suspension.
Disclosure - very patiently short, and respectful of the skill of the MDBX insiders in keeping the price up for so long!
You are aware that FSPM was set up primarily for insider enrichment, even though they are a "real company" with a "real product". The fact that they have been issuing PRs about sales and not disclosing that the customer is a related company introduces the risk of suspension as well, just like CANN.
You here too? I hope you are not long. The average price for a stock after re opening on the greys is 25% of the pre suspension price. There is usually a slow drift downwards to zero after that. One stock that did not behave this way was MDDD, where it looked like the promoters kept promoting after the suspension, but I have no evidence of this.
Disclosure - short CANN only 70 shares :(
Great news on the Canadian sale. Time to load up on FSPM. This is going to da moon!
Great to see FSPM putting out some news with some meat in it. What took them so long? It would be interesting to see who the customer is!
GLTA
You would have to ask Scott Dittman why he is unwilling to provide the level of disclosure required for the Pink- Current Information tier. It is his decision.
Marketing Fail! The FusioPharm ad takes you the PharmPods.com website. The contact us page is blank! Very impressive to future customers!
Why wouldn't the address of the Denver sales operation be listed?
Because neither of those are a different exchange. They are different segments of the same exchange. When you state that they plan to uplist to a different exchange, that has a totally different meaning. But then vagueness is always good to those trying to cloud reality.
What total rubbish. FSPM does not meet the criteria for uplisting to any other exchange. As a matter of fact they were recently down-graded on the pink sheets from the OTC Pink Current segment to the OTC Pink Limited Information segment.
Note that OTCMarkets defines companies that fall under the OTC Pink Limited Information segment as "Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant to OTC Pink Basic Disclosure Guidelines."
So which part of this defintion applies best to FSPM? Unwilling to provide public disclosure is my guess.
Go for it!
Get the tape and paintbrush ready, you might need it!
Well, on September 25 2013 they issued a PR that they had secured new facilities, that would house new executive offices, sales center, demo containers and manufacturing space. We have seen no PR announcing the grand opening of the new facilities, so it is a legitimate question to ask if the new facilities are up and running. If they are, what is the address? I am sure FSPM would be proud to show off their new facility to shareholders and potential customers alike! Maybe a few photos on their website. I am sure StockSeeker would offer to produce a great video of the new facility!
Did the CEO clarify which one of the three holders of preferred shares, Scott, his brother Robert or stock promoter Microcap Management / William Sears was the one who converted 20,000 Series A preferred shares into 2,000,000 common shares during Q1 2013 and added them to the float. One of these three has had the potential make a lot of $$$ during the recent run up. Is someone going to suggest that just because they did the share conversion doesn't mean they are going to unload them into the market. Do the math...
I trade off the daily charts. I see no sign of the down trend ending. The last time I looked, the price was $0.08 above yesterday's close. A price gain of less than 2% is no clear indication of a trend change! We are nowhere near yesterday's high!
I think you should wait for the $3.50 entry point. At the current rate of price decay, we should made it there by Friday.
Patient short position rewarded!
My broker is Interactive Brokers. Centrepointe for accounts over $50,000. SureTrader for day trading short - offshore, funds are not protected.