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Thank you for your service and please have a wonderful Memorial weekend! (I can't send private messages.)
I think it is wonderful that people who deeply understand the need for Medical MJ for veterans are using their resources to help build the necessary infrastructure.
Diversification can be a very positive action, not always a reason to draw in the SEC :)
Awesome email :)
Thanks again for reaching out to them. It all makes sense, and rises above my expectations for an OTC Pink company.
I will retain my shares and hope for decent gains down the road.
Thanks...it helps that you have previous experience with Roger. Thanks for letting us know this is a new venture.
I wish everyone would focus more on supporting development stage businesses who work within the framework of OTC Pink.
Well someone who knows what is real with SMVR ought to comment on AB's blog.
He is doing the same harm to portfolio's as the SEC's warning regarding pot stocks.
Personally I want out at a minimal price and will never get there with public shakedowns.
I don't think the PPS will rise with Alan Brochstein's post:
"An example of a particularly concerning marijuana stock is Smart Ventures (OTC: SMVR). The company, which is operated out of a residence in Houston and has historically been in the oil & gas industry (and still is purportedly), has posted several press releases over the past two months.
The emails to the addresses provided in the press releases bounce back, and phone calls to the number provided (which goes straight to voice mail) are not returned. Unfortunately, this is one of just many examples that suggest that the work of FINRA and the SEC is not yet done."
Read more: http://www.benzinga.com/general/14/05/4570410/the-importance-of-vetting-marijuana-companies#ixzz32ZjA1FrR
Rosen's Complaint is available on their website:
http://www.rosenlegal.com/media/casestudy/115_Growlife%20Initial%20Complaint%20_Final_%20protected1.pdf
I pulled that quote directly from the OTC website.
http://www.otcmarkets.com/learn/otc-company-reporting
Reporting Requirements
In contrast to securities listed on U.S. stock exchanges, securities on the OTCQX, OTCQB and OTC Pink marketplaces may trade without being registered with the SEC.
How do you know?
Desolation Row:
You imply Ed was caught in the act of deliberately doing something inappropriate. Can you provide proof that would make me want to sell my shares?
I am 100% certain that Ed has a plan for shareholder success. He treats us like royalty :)
Try MYEC, you might like it!
I did key MYEC into the ticker area and saw nothing inappropriate on the part of MYEC.
I keyed BY into the promoter area and received the message that nothing was found.
Desolation Row:
As you suggested, I entered "BY" and again received a message that promoter was not found.
Are you leading me down this path for a reason related to my investment in MYEC?
Desolation Row:
I did as you suggested. I went to http://stockpromoters.com/View-Promotions-By-Promoter.aspx?promoter=myec&x=10&y=7, typed in MYEC and received the message "Promoter not found."
Did I go to the wrong website?
Desolation Row,
I do not understand how de-registration of shares in 2008 can impact the current and future success of MYEC.
I also do not understand how litigation from 2012 and Ed's personal life challenges can impact current and future success of MYEC.
Please help me understand the purpose of these postings. I seriously do not want to get burned again.
Thank you...
That was two years ago. When I buy shares in a company, I assume the SEC has acted on real issues.
Android or IOS based on your smartphone app process (free). The apps will be available soon. If you haven't downloaded a QR reader, do so and hold your phone over the barcode image on FB page.
Close...they will pretend they are investigators and use the rule that says you must bow down and pay homage to your investors at their whim...or something like that.
This is overreaching for the SEC to go after a small emerging Pink Sheet business.
Today, I disagree with your assumption. There is a lame rule that states he has to answer to investors (in so many words). That is all they needed to create a case of perceived ignorance and access FSPM files as they relate to PHOT.
I think an SEC employee in Colorado impersonated an investor to validate the whining of one or two instigators who have posted on this board. Who knows those relationships--they probably go out for cocktails!
If he is found to be fraudulent, I will give this one to you.
Formerly a CPA. He didn't take proctored exams to retain his license. That does not mean he didn't stay abreast of the changes in his former profession.
I can finally say I agree with every word you wrote except "Lazy." That's just not cool.
Yep...an SEC expert with bad evidence that didn't fit the alleged crime. I was all over that one from the first post. Why would anyone who is not an investor be so invested in the suspension issue?
Really, why would Scott pay money to a defunct real estate business run by his sister when she lived in NC in 2007? There are several businesses with that name, one of which is active under her name in the State of Nevada where she currently lives.
Sadly, people who averaged down can't sell their top price because of the scare tactics.
Seriously? It's illegal to be busy in start-up mode?
He sent seven press releases in one quarter and met his reporting requirements. Look at his accomplishments in that quarter! Look at the hiring decisions he just made. An administrative office person that can manage his email inbox and phone calls while he is doing great things for the shareholders is what was missing in Q1.
I don't feel like he dissed me. I feel like he was doing exactly what I expected him to do which is implement his business plan and make money that will increase my investment. I respected his time.
I know enough about personality and work style assessments to believe he does care about share price. If he is the work style I think he is, then he may have been implying that the price follows his efforts. He knows the tail does not wag the dog.
Please do me a favor if you are a person involved in this SEC investigation. Please let me know your other investments so I can sell out asap. I do not want your ignorance about the human condition in my retirement portfolio.
This is not damning, it is simply bad reporting.
I am not convinced our lack of knowledge of such intricate details is relevant in light of the limited reporting requirements of an OTC Pink business.
Can you provide written references they did not follow?
Thank you :)
Please don't be rude to me.
If you saw malfeasance, you should have posted intelligent, verifiable information well before the suspension, in the interest of all investors.
Understood...I took the holistic view :(
Sterling Scott's post-PR releases announced a new business model, change in share structures for Directors, etc. I have yet to see where Scott needs to do anything differently.
FSPM is nothing like PHOT.
Read the Supplemental Report on OTC. They aren't always uploaded to the company's Filing page the day they are submitted. (The OTC server was down for maintenance this morning.)
We need to be patient, positive and supportive of the industry leaders :)
They are nothing like PHOT. They have a workable business model. They will continue to grow and makes lots of money. Scott will continue to be an industry leader.
Their lawyers will advise them appropriately. The press releases will be positive and light on messages.
Law firms will be hard-pressed to find wrongdoing.
Meadpoint and Bayside are both listed on his Supplement Information Sheet.
http://www.otcmarkets.com/financialReportViewer?symbol=FSPM&id=120814
Gotta love how the author of this article made FSPM a "leading pharmaceutical" company...NOT!!!
I was on the same thought stream when this was suspended.
I followed this business closely and see no other reason.
The grays need to be abolished. SEC is overzealous on MJ stocks.
There are postings from the whiners who think Scott had nothing more to do than serve them daily with a silver platter.
Scott issued seven well written PR releases in Q1.
Scott was busy implementing his busy model. He has no obligation to report financials outside of the quarterly/annual requirements. He has no obligation to have them audited under OTC Pink. He verbally stated he would provide audited fins for Q1. He did not give a date. He may well be near done with that process but had to file unaudited by deadline.
I believe in Scott and his product is really cool, in a growing industry, and necessary in tough climates. He did not manipulate his share prices. The day traders do that with each press release.
Investors are stabbing other investors in the back and bringing the SEC in where it does not need to be.
Lovely climate for an entrepreneur, isn't it?
My sentiments exactly and why I want congressional action.
My other thoughts:
We have something called "The American Dream" beckoning entrepreneurs everywhere. The OTC Pink is a place where they can ride with training wheels on. The SEC should not be hovering like hungry hawks.
The SEC should not be cherry picking sectors to slam. I read they're at 20% MJ and have a laundry list of more MJs to tear down. So they are, in fact, on a mission. They constantly publish that mission through investor warnings to stay away from MJ businesses.
SEC should not be warning investors about the nature of the OTC. It should be warning Congress, and taking action to change the process. The gray market should be abolished. Just suspend trading until errors and omissions are resolved. This would allow investors to choose to stay or go once trading is active again. If there is a criminal act, they get shut down and any assets prorated among retail investors.
.0001 bids should be abolished. 01 and above across the OTC. That will end the manipulation at sub penny levels and allow emerging business models to better benefit from retail investor money.
"The SEC has seen an increase in the number of investor complaints regarding marijuana-related investments."
Who would complain about Scott and why? I have yet to see a factual reason to dump shares.
A simple phone call to Scott could have answered their questions.
Oh no...these halts are not okay. There needs to be a tiered warning system. These halts are financially devastating.
They need to focus on the real financial criminals.
Look at what happened to the IRS' Lois Lame :)
We need a Congressional inquiry.