Like ODB Picking Up Food Stamps in Limo
"raking in about 80k a month, yet he is begging for donations"
Some of you might get that reference. If not, Google it.
I think this should serve as a reminder to be extra cautious in the penny game. I'm new to the penny game but I'm not new to the markets. I was excited in 2003 when I first legally walked into a medical dispensary in CA to buy cannabis but in 2011 when I found publicly traded MJ related entities.....it was too much.
What has also surfaced is a flow of "analysts" and others who use socmed to promote themselves. Some have actually provided useful information and quality DD but even the few good ones are falling victim to ego and profit. Then there is AB who is on an island of his own with the truly horrendous calls. Two of the stocks he touted, pumped, and traded have now been halted. Many of his so called fraud picks turned out to provide massive gains. And the dude missed the single biggest event in the short history of this new MJ market; Jan 1, 2014 rec legalization in Colorado. Oh yeah and he got smacked with a monster libel suit. From hero to sub zero in less than 12 months! Brrrr.
Anyway, here's an interest alternate reality.
REMEMBER THIS IS THE SEC LOOKING INTO PHOT AND THE OTHER COMPANIES.
Its a little troublesome but I'm thrilled it's not the DEA or DOJ. The SEC is a joke. FINRA is even worse. I've told the anecdote on other boards about a friend who works for FINRA and 2 of her coworkers fight so much they cannot even sit next to each other in the car and have had to be physically restrained after brawling. Now apparently neither coworker wants to transfer so they are in mediation with company execs, lawyers....that's the level of professionals we are talking about. And SEC folks are either former Wall Streeters or are hoping to move on to become a Wall Streeter. How many different reporters sent the SEC detailed info on Madoff's racket for decades (decades!!!), yet the SEC was "clueless?"
Just 3 years ago there seemed to be a much closer connection to actual cannabis sales via "subsidiaries" but publicly traded companies began to distance themselves from questionable revenue from THC sales to appease the DOJ. Today it seems some of those relationships are resurfacing as public companies are now issuing PRs about involvement or the intent to become involved in quasi legal THC sales. Things are being pushed ahead whether the anti-MJ crowd likes it or not and the bottom line here is MONEY TALKS.
PHOT is a real company, with real products and real people working to bring products to market. Even if they are cooking their books, I highly doubt an SEC sanction would involve shutting down the company. GrowLife would pay a hefty fine, they'd straighten their act and hopefully all publicly traded MJ companies would take notice, keeping their books clean and helping legitimize this new marketplace.
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