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Yep...
CEO Scott Dittman participated in various National Cannabis Industry Association events (FusionPharm is a Founding Member of this organization) in Massachusetts, Illinois, Oregon, Washington, Colorado, Nevada and Washington DC.
CEO Scott Dittman spent 2 days on Capitol Hill with more than 40 other NCIA representatives lobbying to enact banking laws and modify IRS rule 280e.
Say that to your congressional reps :)
So now the product doesn't work?
He just hired someone to address potential product issues.
Are we expecting Fortune 500 behavior on the OTCBB?
You pasted the SEC's boilerplate information. It tells us nothing.
I think you have been wrong on all of your claims. If you are the reason this was halted, you need to fess up.
If the SEC finds anything, or a law firm finds reason for a class action lawsuit, I will be surprised.
A CPA has the ability to audit financials.
I am just blown away by the hostility shown toward decent people trying to run businesses in a difficult environment.
I think you're off base.
To say they are going to provide audited financials without a specific due date is perfectly legal, honest and acceptable--especially for a fully reporting Pink Sheet business. Did I miss something? Where is the public statement that he would provide 3rd party audited financials by a specific date?
Is it possible he was referring to his ability to audit financials?
He is an extremely busy CPA. I am okay with him providing Q1 unaudited financials until a 3rd party auditor can complete them for people like you who don't trust CEO CPAs.
This will end without justification.
I think the majority of Americans would agree.
Why allow Pink Sheet companies to be unaudited in the first place?
When is Congress going to conduct hearings on these issues?
Dittman operates no less than any licensed CPA.
It will be interesting to see if the SEC finds any real issues.
That looks like a truthful statement to me. What is your problem?
What evidence?
Yesterday you had a different tune:
"Ok even I can give FSPM some credit on this one. On time financials is a step in the right direction. And the numbers aren't bad. See officer I'm changing my tone already! All I ask is that they give us something better than hope."
Well, isn't he special!
"When I filed this patent in February of 2011, I envisioned that the content of the application would one day be an absolute necessity in the marijuana industry. As the majority shareholder and visionary behind Medbox, I am elated that my intuition paid off for the company and its investors."
Way to toot your own horn, control freak Matthew Feinstein.
Does he by chance work on a TEAM? Why does he believe he is all things to all people?
This is one of a few MJ stocks that makes my stomach churn. I have not, and will not, buy it...EVER.
Just visiting this board as I was curious how investors viewed the Q1 report and product.
Back to FSPM and MYEC :)
Ed posted this information to his Facebook Page yesterday:
"The attorney letter has been filed with OTC - the Yield sign should go away very soon."
You have to prove fraud. In the meantime, everyone with half a brain will buy this stock at discount prices.
I saw the release on the post here. It's not in my E*Trade News tab for USEI, the MJ Index, the OTC News feed.
Some people are very trusting (and get burned).
Some people believe in second chances (and get burned).
Some people take the advice of relatives without researching backgrounds (and get burned).
Some people are very good at manipulating their credentials (and get caught).
This is water under the 2011 bridge.
Operational/supply chain costs are better managed when the same model is replicated.
Thanks for the intelligent posts Monster!
I am also hoping the unenlightened ones leave soon. Scott doesn't have billions of shares floating around.
I don't see bad luck. If anything, Scott may have been too trusting in 2010/2011.
Looking forward to what he does in 2014.
It's cheaper that way :)
What I like about these two dudes is their focus on advancing organic food production.
Hoping they are advancing clean business operations, too!
Whew! Good thing he's not on the 2012 Annual Report.
Guy M. Jean-Pierre was just banned in Florida in March 2014.
http://www.jaxdailyrecord.com/showstory.php?Story_id=542355
My point is that Scott doesn't need to hire an auditor to do his auditing for him.
I believe he is a person of integrity and will follow through on his commitments. I don't consider being "late" an issue. That's the time issue I was trying to put a light on.
Yes, I agree the patent would be fantastic news.
He has to be busy beyond belief. I know how difficult it can be to fit a days work into a day especially when so many people want your time.
I have a strong sense that this will be one of my favorite investments.
I do not know Scott Dittman.
I do not live in Colorado.
I worked around people like Scott most of my long career.
I am not here to promote the business--just to bring another perspective.
I also bought more at 2.15.
I trust anyone who successfully worked at a Big 5 accounting firm for four years to audit their own financials. If you're a consultant and not good at auditing, management consulting, planning and execution, you don't last beyond the first year at Accenture/Andersen Consulting/Arthur Andersen.
I understand why Scott may have said he doesn't care about the share price last January. I have come to realize these CEO's don't control the PPS as much as the fickle day traders do with their myopic, self-serving strategies, and unreasonable expectation of weekly play-by-plays.
I am certain Scott has been challenged with the current Growlife business scenario. I believe Growlife didn't deserve the halt and lawsuits. I believe the lack of venture capital, day traders, FITX, and the NCAA stock challenge had far more to do with PPS fluctuations than any one decision made by Sterling Scott and his Board.
Scott Dittman has a life--as in children, a wife, a home to maintain, roles in the greater movement, a massive business model to manage and needs restorative time for himself considering the amount of travel he has to do each week.
Some "shareholders" seem to think that owning shares in an OTC Pink company grants them unlimited access to private, competitive information, customers, and audited financials. I find this behavior shocking.
I believe day traders are near the bottom of Scott's priority list, and that serious long-term investors from many capital sources are a greater focus.
Someday, he may have an Investor Relations contact. In the meantime, he is it. Respect his time.
RakeMan:
Not certain why you deleted the message I am responding too...the one where you admit you lost money across 16 years...
The OTCBB is a venture stage platform for new ideas, businesses low on capital, or with weak credit.
I believe the dynamic you have witnessed across 16 years is the result of a fundamental design flaw by the SEC--the allowance of widespread and unlimited sub-penny day trading in an exchange designed for upstarts. I say that the missions of companies on the OTC are often incompatible with the mission of day traders. It's the day traders work with the brokers that prevents normal PPS progression. It is an obsession for some people to work the momentum and charts to their advantage never wanting to lose money so they sell out and cause price fluctuations. It is fear based trading, not socially conscious investment for long-term gain. In other words, it's the nature of this beast.
In the development phases of new economies, companies are not able to demonstrate consistent growth until their products are in the market and barriers to implementation of their plans are removed. They will have price lulls.
For all MJ upstarts, the main barrier is the SEC/DEA/Congress. For TRTC, within this larger albatross, their current barrier is two-fold: 1) Bitter people who don't understand the purpose of the OTC, the nature of new industries, and can't accept their own failings; and 2) The essential and often uncontrollable time periods between business plan activities/tasks and completion of same.
I am certain the current PPS would be much higher if Derek could force a decision from the Clark County Commissioners. He has to wait with every other applicant. In this wait period, people who want to buy into the Nevada revenue streams, are waiting for a concrete decision before they invest. When Derek is awarded a contract, the day traders will jump in as if Derek was their best friend.
You really are wasting time of people far ahead of you in wisdom. Your words are hurtful, destructive and way off base.
We are all lucky to have this emerging market before us. It is exciting and will be rewarding for long investors.
I think you hate TRTC and might have more success playing with Onkel on the "Yahoo Bottom Feeder Board."
Derek runs private pot dispensaries in California today--I believe the number is four. This is one item among many credentials.
TRTC operates a high-tech hydroponic facility today that can be converted to a pot growing facility tomorrow. That is impressive. He gets it. This is a significant step above what any applicant living in Nevada can demonstrate today. The business model is in place, the supply chain is in place, the facility location has been secured.
Nevada is primarily funded by casino revenue. They don't require state income tax from any citizen. This means Nevada citizens who never paid income tax can apply for a license. Does that bother you, too?
Nevada cares about the future income potential from the pot sector. They want people that can get the job done. Seeing a business model that works, high-tech operations, and the credentials of this management team is all any review board needs to give a green light.