Sunday, March 02, 2014 7:53:21 PM
That is called profit sharing and many say it is illegal. Which is exactly why they haven’t announced any GIFT participants.
It they can’t participate in profit sharing they can only charge a flat interest rate. Much like a Lowe’s credit card or Menards, Sears etc. There is no money there. Why would they tie up millions in cash to supply equipment etc to dispensaries/growers if they can only charge a low flat interest rate. There is far more money to be made with that money in other areas of this sector.
If they could have given a grow operation say $1M in financing/grow equipment and they split the profits with the grower the revenue source would have been huge. If the grow operation increased their revenue by say $5M and they split it with PHOT then PHOT would have made $2.5M on their $1M investment. The grower would have also increased their revenue by 2.5M without any additional expenses. Win/Win for all.
Plus since PHOT did not own any equity in the company they did not cross the green line and could not be charged with any federal charges if something went wrong.
I have heard for months that the original concept was illegal and the fact that they have announced no participants makes me think that is probably the case.
Keep in mind they said in November they had people lined up out the door and would be releasing a list of the participants by end of year and they haven’t makes me think it fell through and is not legal. JMHO
GLTA
Recent PHOT News
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 08:10:40 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 09:37:01 PM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 02/02/2024 09:22:33 PM
- Form 10-Q/A - Quarterly report [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 07/19/2023 08:43:46 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/19/2023 01:36:57 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM