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Last week Sterling Scott sold over 5 mil shares at .05 It
is difficult to overcome the stench of him -as he continues
to make money off of his previous actions .Why and how is he able to sell his shares at the high for each day last week. I thought BID/ASK does not apply on GREYs . How did he get the HIGH each day -LUCK -gimme a break . The selling brokers control this and
make big commissions
Who handles the transactions for these shares. Supposedly you can't have a BID/ASK ;but it appears that someone has been buy/selling
large blocks of shares -1 million at a time . These large blocks may be the people who bought Scott's shares at a low price or
a broker is getting an ask price despite the average person not being able to buy/sell that way . Would like to know if this is and who is manipulating . The volume has been up and is this only
a sign that all the near free shares are now being dumped ?
Has Scott factored his shares to someone who can dump them
without as much oversite Are their any regs on this . Or is this additional manipulation in the GREY zone
Is there a way ,on a daily or frequent basis ,to tract how many shares are outstanding -not just waiting for quarterly reports.
Would like to know where all these large transactions and volume
is coming from ?? Has the number of outstanding shares risen considerably in the last 1 1/2 months
Does that mean the company can sell the authorized shares on the market to acquire $$ ,at their discretion/get whatever they
can to collect more money to operate ,while they suck more
money out with questionable expenses and salaries ???? 2 billion
shares to manipulate ??
Some large transactions early ;Is SCOTT still required to be listed as insider trade and who is now required to list as insider trade? What people and what % of ownership of shares . Because their are 3 billion potential shares -does that bring
SCOTTS 50 million + number under the radar % and he no longer is officer ? Would be nice to know who is playing this game ?
2 M shares at 1.5 cents difference is a $30,000 profit in
2.3 days . WHO is handling these transactions and also getting a nice fee .
What happens to the fines $ .Does it go to the SEC or government ;or by some quirk of fairness l can it be returned to the company ? in form of disposition of the shares they still own. A penalty to the appropriate names mentioned and disposition
(forfeiture of their outstanding shares ) would be a first step
toward cleaning up the toxic condition of PHOT.
In addition to last post . Part of repayment could be for legal fees or that as part of settlement-payment of legal fees(depends if that type law suit qualifies for that )
If this is legally possible,it could be a real good outcome
Maybe a penalty of returning most of the money ripped off with insider trading ,could be returned to the company and as further penalty disposition of a majority of their outstanding shares (more than a majority ) That would be nice in exchange for no jail
time and for the lawyers being disbarred . The remaining shares -
restricted from sale for an EXTENDED period of time. That would certainly help the overall financial picture. AH for wishful thinking
Where do you get the numbers from .I would like to track the
buy and sells daily breakdown more quickly without having to go through my broker Thanks if that can be accessed easily and how
That would be a desirable outcome -justice to the manipulators like SCOTT and HUNT and GENISI and reduction of liability to the shareholders. Maybe this is where this is going. Recent Press and filings have shown progressive separation . They still hold many
shares and would benefit in the long run -in a buyout; even after taking fines and punishment(no jail time ) The long run would give them tremendous gains. There certainly are many examples of CEO's making tremendous cash gains after balancing their penalties
from their profits. Oh the wonders of our justice system !!!!
The potential for future money could be the goodies that everyone is fishing for. The amount of debt (total) is large but not the only factor. If PHOT is able to become A MAJOR SUPPPLIER OF COMMERCIAL CULTIVATION AND LOCKS IN RESUPPLY CONTRACTS FOR FUTURE
SUPPLY -they have a valuable commodity for eventual acquisition. The large (tobacco i.e. companies ) like Phillip Morris ,ALT
will buy into the market when the stakes become large enough to support their system . They are not going to deal on a Mom and Pop
basis. They want established production and supply contracts to support their International Marketing network . They may establish local industry in other areas like Costa Rico-which is now possibly legalizing MJ ;But they initially will need mass producing networks to jump start their existing networks. These
companies have tremendous CASH reserves . To assume a debt of
100 M debt is not quite chump change ;but small to them -especially after you factor in the TAX deductions they get from business deductions. The time line for that seems to be 5 years -by all stats projections of CASH market and LEGISLATIVE CHANGES
???? next Presidential election ; Hegyi's stock purchase time frame and many other Market analysts .The surviving stock holders will be offered a buyout package -quite a profit for those who hold . (buyout talk will also drive the share price higher)
The question is Whether someone can be LONG LONG and wait and whether the management can actually pull it off. Hegyi has certainly been through this scenario before and hopefully has these intentions in mind. Hopefully PHOT can continue to maintain daily operations through money infusions- Recent 40 M
CANX i.e. The PPS gain comes from the eventual conversion to
an ongoing industry -after the initial scrambling is over.
Huge companies don't want the scramble -they want transition to
an expanding market that will infuse or replace their already existing industry. Let's face it -Tobacco and recreational MJ
serve a similar purpose -to appease the masses (with hopefully decreased medical repercusions . MJ actually has some benefits
especially when compared to Tobacco and Alcohol. LONG LONG -keep the faith and hope that survival is in the cards for PHOT
There are some different requirements as MJ becomes Medical and regulated. They require system development. THC ,etc consistant content level,plants registered as to production level,RX registered, Amounts for taxation ,consistant levels of supply ,
distribution ,insurance for liability ,employee regulations on
pay and benefits, security , advertisement. AND other things .
The Business of MJ will go mainstream and loose much of the present glamore . Although PHOT has not managed their business end well -in the past . If the new management team ,conducts
business (as they claim they intend to ) they do have some of the essentials needed to successfully accomplish the end goal . Most of the eventual Large producers are getting into it for the Money
without the HISTORY and Social Glamore.
Don't see how your post has anything to do with my answer to
Scott being the new CFO and not Sterling Scott . Maybe you cited the wrong post to respond to ?
The newest filing refers to Scott the new CFO -that's not Sterling Scott
Everyone talks about DD for PHOT
Here is an EYE OPENER article about the MONEY behind PHOT and it's transition from Phototron -in Bloomsberg news-sorry
I didn't set up link -But well worth pulling up.
WWW.businessweek.com/news/2014-o6-18/legal-pot-sets-off
What info makes you question if Scott is rehired -would like to know where that came from.
I Don't think your approach is as objective as you believe.
The MJ market is not evolving to remain a MA + PA operation and will require quantities of equipment , re-supply and maintenance
of that equipment ,and inventory control, The quality is (YES)
important to the home cultivator ;but large developers are more dependent on the availability and consistency of their product
,and how to maintain it. You see this availability of product
occurring in each state that has gone non criminal. When demand gets larger , the problems gets larger and requires more of a system approach. Hegyi stated that they are concentrating on
system development and trying to reestablish the ties that help
accomplish it. Yes it's true that their reputation has been
garbaged by the Stench left from the previous opportunists (BD)
; But a cleanup is being attempted -only time will tell if longevity is a factor in the entire MJ sector. Quality of product
(maintained at standardized levels(Regulation) -)becomes a factor
when the masses start to have access. Some people buy at Walmart
and some buy at Nordstrom's. You can't create adequate supply
by Throwing "another shrimp on the Barbie " . The products that
the previous PHOT attempted may have been Pre Mature in the
Market -not failures . Hopefully the new team knows how to right
the ship and Manage rather than Dream. The potential market
is in the 100 Billion range - can easily support the inflated salaries
and lure in the BIG GUYS for a buyout.
The Reuter's rendition of this article also states: Growlife Is NOT a litigant in this action. This may be the 3rd party referred to in the suspension and possibly not be additional problems for Growlife ;BUT RATHER a clearing of part of the mysterious
accusations that everyone was guessing about.The insider trading could be an entirely different matter and may be (although not
right )within legal constraints. Remember these guys are all lawyers.
The news now appears under ABOUT US ;may be just cleaning up it's web site
The insiders still own a tremendous number of shares. They are
part of the great dilution problem. It is a large contribution to
the previously gross overpayment of earned salary and continues to add to the debt. It's an ongoing cloud hanging over PHOT. They still have voting power and -I think these shares are also unrestricted ?
I just see the word pursueing ;hope that it implies negotiating.
Hopefully cleaning house and punishment to the people involved
is progressing -not punishment to the existing stockholders-
non-insiders. Would be nice if penalties were taken from
Scott and Hunt profits and then surrendering part of their existing shares (disposition of their bonus gifts -that unfortunately was the only part of a GIFT program that happened). That would reduce the outstanding share dilution
;but as we all know ,their deals and contracts were drawn up to protect them-they are both lawyers. Maybe pressure of jail time,
will serve as an incentive to create cooperative negotiation
that will save PHOT. Has anybody heard any recent news about the
now combined law suits ?
Did you see a statement or comment that Heygi is in negotiation about law suits ? I missed that in his release or did not see another statement . Please direct me to it.
Sorry I clumped your reply into confusion of (was Crusen who stated Hate).
Yes ;but you also implied that the new announcements were just additional propaganda and not an attempt to Clean House . Time will tell if this is just part of the pattern ,and no follow through . For the sake of the longs,lets hope so -they deserve a break. Obviously EXTREME caution must be followed ;I think the relatively small amount of PPS change reflects that-people are still unloading. Your point is made about HATING the scammers
and they deserve punishment. PHOT had some good components
and it should be allowed to possibly survive ON TRUE EARNED MERIT.
Maybe that would help the LONGS more than tearing apart the
the remains .
I believe Genesi was there since 7/2013 as CFO not just 3 months.
Maybe another spin would be Cleaning House in only way possible Not him leaving for ethics as you suggest. He was the CFO,CFO.CFO -a major contributor to the debacle
US House today ok'd banks dealing with finances of MJ in states
that have changed their laws. Previous statements by US judicial
said they would allow; but that still left them open to money laundering charges. Maybe one good reason for the move to WA has now appeared. Access to money through the banking system
I agree; refer to post 93203 on 7/9-If there is a future for PHOT-this is where it will happen ;and if some of the original supply contacts can be reestablished or upgraded -there are vast amounts of money .Enough to cover expenses and huge growth.
Hope this not the scenario BUT: If Sterling wanted to squeeze as much money out as possible possible he could buy shares at the low and sell after the rise . The purchase of that many shares
drives the price up and possibly creates more interest in buyers . Then he sells at a ?? $.03 gain per share ($30,000 profit on 1 million share transaction)We already know that he knows the
dealers that can make the transaction happen ;unlike most who don't have someone working in their corner. The basics of day
trading . He also could unload some of his other shares and gain even more profit -which would be lost if company heads toward bankruptcy/liquidation The sales of his shares seems to be delayed in it's disclosure transparency -1 + weeks from last
purchase to it being exposed on this blog.
Have not heard about closings. What info do you have or have heard?
In the Medical marijuana future there will have to be consistency of dose, consistancy of supply, consistancy of checking to avoid
negative contents in supply, alternative forms of dosage ,and
regulated reporting of prescriptions and amounts (taxing and
usage regs) That seems to be the progression needed until
lack of harm (Medical oath -supposedly is DO NO HARM-Hypocratic)
can convince people toward Legalization. That's the existing system .Not saying good or bad;but ,what exists. PHOT
HAD and LOST many of the supposed potentials to meet these needs . If under different financial ways (no pump)they can reestablish some of these ties, they CAN provide a service in the
market . That organization does not yet appear in place in
WA. The street dealers are not all prepared for this transition.
Some will thrive,some will dive;but, they will need help. If PHOT's
management can get back to It's original business structure(without
the pump and dump people ) it can provide the components
needed in this transition.
add to attorney list ;Hunt,Shevin
The real criminality of the board now appears in the quarterly report. Things were partially known before; but now the "administrative costs' and debt show the ciphoning extent
for selling off the company ,while collecting salaries etc.,costs
(payment in reality). The responsible parties should be held responsible to the stockholders and not at the expense of the stockholders. All was probably done in the shady Grey areas of the law, (Scott)-a lawyer . Is there doubt why the legal profession often is the scourne of so many people.Politicians
fit in that category-many lawyers.
Time for Scott and Hunt and the other receivers of FREE stock to return the stock to company for POOR management results. Allow PHOT to return to a less diluted level and build on substantial business practices,not attraction of board members for HYPE purposes . There was a disposition of shares already ,and Hegyi's package is at a proper discount rate. If he brings PHOT's
recovery and regains the trust of investor's ,he should be compensated. The SEC etc ,and legalities may determine the extent
of insider trading or manipulation. The overriding burden is all the outstanding shares that were given out for free and not
earned with good ("better than good" ) management. The company can move forward when the previous stench is decreased or eliminated-tough to do. The MJ market is still huge on the horizon
What's happening with Hunt -after another late FRI release of contract terms for " Transparency "
Today a call from one of the legal groups concerning an additional lawsuit (feeler). This one against the Board and also seeking to force Management to be forced into institutional controls and recovery of funds . Does this translate to stockholder loss and does this translate to FORCED INTO SOME FORM OF RECEIVERSHIP OR BANKRUPCY- would like some comments on this -since attorney legalize is so Deceptive and always for THEIR own interests.
Concerned about new filing stating that there WAS a Material error in previous filing . If monies are due (suit) it should be from Scott and officers who took profits on insider info and fraud- no further abuse to stockholders. Hopefully this company can rise from their ashes -if takeover management`is truly interested in developing this business, at this time ,and not extending the abuse. Stockholders need some sign of positive
movement to regain some confidence. COMMENTS ?????