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Well lets see whose fault Mr Parilla thinks it is..
Could it be the attorneys could it be the SEC's, unbelievable the skating going on here. Glad I saved all of these emails. I am telling you now dump this POS, this is the rest of the email from Parilla that started with "I didn't lie to you or anyone else"
"Like I said "The Atty's made us change this". The SEC was having an issue with a full acquisition so we have to do it as Asset sales until we're done. I do not want any additional emails from me to you showing up on the internet, so this is for your eyes only. In my opinion if we get investors .12 per share in valuation as we sell off the assets they should have nothing to complain about. People should consider taking action against the SEC though. They should not be allowed to do this to companies where there is nothing found to be wrong".
UNBELIEVABLE!!!!!
????????
Who knows at this point, I am sure they have figured out a way to sneak something through without actually creating value for anyone but themselves.
And look at the price of the supposed aquiring company, after little to no trading it is up in heavy trading....curious..huh..
Would you suppose that is being inflated so the conversion for FRTD bag holders will be less shares, then after the exchange a magical sell off back to the pre inflated numbers.
Didnt ask him that, but Guess, by this quote, what I did ask him .I got this in return from what I asked him.(Parilla)....
"I didn't lie to you or anyone else"
Thought this would put everyone's mind at ease....(sarcasm)
Lesson learned "scratch a lie find a thief"
Just Hit MarketWired
Fortitude Group, Inc. Agrees to Specific Asset Sale
ERIE, PA--(Marketwired - Jun 9, 2014) - Thomas Parilla, CEO of Fortitude Group, Inc. (PINKSHEETS: FRTD) proudly announces a Specific Asset Purchase Agreement with Cascade Technologies Inc. (PINKSHEETS: CSDT). As part of this agreement all medical assets currently held by Fortitude Group Inc. will be sold to Cascade Technologies. Cascade has agreed to pay Fortitude $2,000,000 in common stock as consideration for this purchase. All Fortitude shareholders of record as of 5:00 EDT on June 13, 2014 will qualify to receive the shares of Cascade. The Official Effective date will be June 13, 2014 at 5:00 pm EDT.
Parilla further added, "Even under very tough circumstances, we've kept the shareholders of this company at the forefront of our planning, and we're very pleased to be able to close this acquisition with Cascade Technologies. We believe this is in the best interest of our company going forward, and the shareholders that have put their support in us. We are actively pursuing the sale of our non-core assets and will continue to distribute the proceeds to our shareholders at each subsequent closing. We feel that by divesting ourselves of our non-core assets, we can achieve a premium closer to our previously announced .12 per share. I want our shareholders to know that this process will not happen overnight but this announced acquisition is the first step in accomplishing this goal."
"Cascade Technologies offers Fortitude shareholders a fresh start, and a very nice premium to their current holdings. Although CSDT is currently a Non-SEC Filing Pink Sheet stock, management believes Cascade will have their past filings back to current status within the next quarter," stated Thomas Parilla.
On May 18, 2014, the company had entered into an LOI with a fully reporting OTCQB company, to be acquired in its entirety through a share-for-share acquisition. Unfortunately, with the recent trading suspension by the SEC, the LOI was rescinded until such time as Fortitude completes an updated 15c211.
The company further announces the immediate termination of two separate corporate actions. First, according to the company, it has become clear that the Marijuana industry is under intense scrutiny by regulatory bodies therefore, effective immediately Fortitude will be rescinding the acquisition of Mari-Medical Pharmaceuticals. Fortitude firmly believes Mari-Medical is on the right path, unfortunately, given the current regulatory environment both parties are better served by moving forward separately. Management of Fortitude wish the management team at Mari-Medical the best of luck, and they appreciate all of their hard work to date.
Second, effective immediately, the company has terminated the LOI with Primarq. This action was based on Primarq's failure to perform in providing Fortitude the previously agreed to Legal Opinion required to close the transaction.
About
Fortitude Group, Inc. is a diversified company with investments in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and/or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.
Forward Looking Statements
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
Contact Information
Contact
Fortitude Group, Inc.
Investor Relations
Phone: 888-447-5501
Email: Email Contact
Being released as we speak. Atty's made me make a few changes late this morning
Just got this email.....
Here a couple of math equations for those that keep throwing around the multiple mathematical scenarios.....
Shorted before Friday Before May 29th + Didn't cover Short position by May 30th Market Open = SCREWED
People who are on the Long side + Merger = better than no merger any day of the week.
HOLD TIGHT!!!! JMHO.....
According to many who have reported on this Board there is almost no SHORT action on FTRD....
So either this will be one of the smallest groups to file a Class Action suit in a publicly traded stock's history or MAYBE, just maybe, there was more SHORT action than admitted...curious...
The lights are on so watch the bugs start to scatter.....short's chatter should be at an all time high....let 'em squirm.
IMO..SET your price high and hold until this thing shakes out, shorts are burnt......
Take it for what its worth, here is the latest. I agree with this being a crap shoot and forward only the info I get directly. However, at this point I am sure we can all live with out the " I told you so" comments. This is about making money not proving how smart you are or how much you "think" you know.....everyone should know that betting on a 2 cent horse to bring in 6 fold dollars is a long shot at best, with the history of this guy and company even longer shot.Do your DD and roll the dice or don't, that is the game..... JMO
Now a letter from the CEO...(lol)
Atty's are still finishing up their work. Until the PR I'm not to make additional comments. I still believe shareholders will be very happy in the end. Sorry to keep this brief, but you'll see the update soon enough and then you'll know exactly what we've been working on.
Tom Parilla
I completely agree...the fact that all is quiet is a good thing for now. The last email from the CEO directly that was posted this morning , IMO, sounded like someone speaking from a position of confidence that the merger is in the bag.It is the first time I sensed a bit of defensiveness and aggravation in the tone of the email.
However,
I would not be suprised to see this run out to the end of the week. If I was the aquiring company the last thing I would want to do for the next 2 days is answer the same questions that have been asked thousands of times since the FRTD stock was suspended. I would want to let it sit over the weekend and open Monday in a transition phase.
JMO
I sent for an update....about an hour ago...
C
Here is the latest email I recieved from FRTD....
Just passing along the info..Not sure what very soon is, I guess we will continue to wait....
>>>>>>>>>>>>>>
Everything is going well, and shareholders will have an update very soon. Other than that the Attorney has asked me not to discuss any other parts of the deal until the PR is released, but I do think shareholders will be pleased. This is the same email I'm sending out to all incoming emails. The Attorney has asked me to keep the communications similar until the PR is released.
Tom Parilla
Here is the latest as of 15 min. ago
This is a partial from the email I recieved from Mr Parilla, just wanted to make sure shareholders dont panic if we do not see a PR tomorrow.HANG TIGHT....
"Made a lot of progress today, and I'm still hoping to get an update out to shareholders soon, but seeing how there's a lot of moving parts right now all I can say is the update could be Thursday or even as late as Monday"
"You'll hear from us soon, just keep an eye on the News Wires"
This is a excerpt from the email, I will NOT post the entire message so don't ask. All seems normal,or at this point as normal as possible given the circumstances.
I for one am content on watching this play out, this is my opinion, so you will want to do your own DD.
GLTA..
And maybe Mr Green did it in the Library with a Candlestick.
and maybe we really did NOT go to the moon...
and maybe there really is a BigFoot!!!!!
I would want to see it myself as well.....
Chris,
Replied to you earlier, but it was kicked back to me, so I'll give it another shot. As far as the 10Q goes I'm still waiting on one final piece, and then it's done and I'll upload it to otcmarkets.com. I thought I'd have it done about an hour ago, but seeing how it's the weekend it's taking longer. The SEC did NOT contact in any form before the suspension, there was no Due Process. I met with Finra for 2 hours about 2.5 weeks ago, and everything was fine. The SEC tried to tell me it was a joint call between the SEC and Finra and when I asked about the Finra 2.5 hour meeting the SEC girl was stunned and had no idea what I was talking about. She took the name and number of the Finra rep that interviewed me and said she was going to call him. She questioned the validity of the PR's and asked me to give her both contract agreements and contact information regarding the Discover card deal, American Express, and the purchase of the Internet Property. I gave her that information within an hour, and then see asked me for the same information for the Casino deal we announced Friday. All PR's are completely legal and we have all documentation. I'm hoping once she calls Finra and sees that a 2 hour interview already took place, and then sees the information I sent her they can do something about the suspension. As far as the LOI goes, I met with the Board of the acquiring company last night and explained the situation and they're not concerned and moving full speed ahead. You will see news from me about the LOI early this coming week. I feel badly for our shareholders about the suspension, and I'm angry at the SEC for doing this without Due Process. I in fact did not even hear from them except in an email until about 45 minutes after the suspension. Look for the 10Q sometime today on otcmarkets. The Attorney Letter from Jehu hand for the 10K was already submitted and we're just waiting on otcmarkets to verify the information and then update the site that we are now fully current on our filings.
Tom Parilla
IMO
Disclosure..I have a very small position in this stock..even smaller part of my portfolio.
For those that are thinking the sale of FRTD will not go through because of bad press need to understand that what is being bought is the business not the businesses name.
Its about the assets and value of the company, the name FRTD and subsequent stock symbol, will forever be gone if the buy out goes through. It states as much in the ITP agreement.(assuming it was for real)lol
Quit with the doom and gloom...if you dont have stake in the company now than good for you...if you do, lets see what happens down the road here. Ironic twist is that I believe many of these haters were waiting with baited breathe to see this stock start moving so they could jump on the parade and talk about how smart they were for buying, the other half are short sellers, whom I believe are the ones fried in this deal if it goes through.
I think the post about this CEO's background was a strong signal that while FRTD may not give a rip about making false statements a CEO making forward looking statements in a public forum..ie.. radio..could result in a major fraud case and certain civil liabilities against the CEO not just FRTD.. Not to mention career suicide.
LET IT SHAKE OUT!
Sounds like to me the spin doctors they hired can't keep the crowd quiet about the environmental issues and they " Ex" will be forced to offer up a very tight schedule for cleaning there mess up, which they will not be able to fund, my thoughts are this will only help the pending class action suit and force an eventual switch from a Ch 11 to a Ch 7 after they are forced to start liquidating assets to help fund this entire mess.Sell this RAT!!!! JMHO.