Steward,
what an excellent and well-thought post. Thank you. I second everything you just said.
It's true that there is plenty of room to speculate either for FITX to succeed or for it to fail. And there is ample room on either side of the coin for the company to fall. The questions of permits, and pump schemes, and so forth, certainly have merit, and no doubt are posed by at least some well-intended, cautious, and obviously experienced investors. However, I've kept up with enough posts on here long enough now to have heard the same negative arguments being run into the ground, and a few individuals in particular keep trying to create, almost enforce, a certain negativity surrounding what FITX, and in particular, Mr. Chaaban, are trying to do, as well as question the validity behind their motives.
Perhaps the insiders are making business deals with other (and, in my opinion, reputable) companies such as PHOT, are posing for photo ops with Windsor/Lakeshore officials for the local newspapers, are posting mobile uploads of construction progress, are attending conferences, are submitting to interviews with online news and investor sites, and are positioning themselves to be mentioned in other national and international media outlets, all to construct and execute an elaborate pump-and-dump scheme in order to make a quick fortune. It could be the case.
However, it seems more plausible to me that said insiders actually grasp the true potential of the movement in North America, and around the world, to legalize medical/recreational marijuana, and the sheer scale of the coming industry. It's entirely possible that these individuals are actually trying to create a solid, long-term business with enormous potential.
What strikes me as interesting regarding the business potentials for this company as discussed on this board is a relative LACK of discussion about the potential for FITX to export its products to the U.S. and abroad. However, my own ability to conduct solid due diligence is admittedly weak, as I profess an unfortunate naivety with regards to the inner workings of business. Nonetheless, I have to say that FITX's location for construction of a large growing facility is prime. They are based in Michigan, and the facility is quite close to Detroit. They are, therefore, based in a state that has legalized medical marijuana, and are constructing nearby in a country that now allows the commercial-scale production of marijuana for sale and for export. Am I mistaken in this? IF FITX was granted a license to grow, would they not also be legally eligible to export? Furthermore, where exactly does all of the med/recreational pot being sold in Colorado and (soon) in Washington, and the medical marijuana being sold in the other 18 states and Washington D.C., come from? I have tried to identify the suppliers in the U.S., some of whom by now must be well on their way towards enormous profitability, and I have been unsuccessful. However, they must exist, and they are not Big Tobacco or other publicly-traded, multi-billion dollar companies, because such companies can't afford to tread this early into an enterprise that the U.S. government could, within its own power under current federal law, attack and demolish. Is this not an already viable market in which FITX could compete, in which it could export to from a facility in Canada? I'm asking simply because I want to form an educated opinion regarding the motives of FITX and it's administration. Perhaps I am mistaken, but it would seem like the long-term potential is more profitable, and less legally questionable, than all of this energy being spent to pump and dump.
As I posted earlier, it does concern me that PHOT and RXNB almost had a lawsuit and failed business agreement. I expect that PHOT is waiting to sign on the dotted line to acquire the 40% equity stake in RXNB until they know for sure that Mr. Chaaban and Co. at FITX are actually going to properly execute the construction of the facility and the procurement of a license. I can't blame PHOT for this. If PHOT pulls out, I most likely will as well. If they sign, I'll commit long. For now, the best I can see to do is hold and wait. Why all of the negativity on repeat from the same individuals, though?
