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blackcat

04/16/14 7:29 PM

#5792 RE: TraderGash #5791

You are verging on the ridiculous. Many companies have to restate financials-and they aren't just Pink by a long shot. Some tickers who have restated in the past

KR, FDO, WAG,CVC, S, LOW, PBY, CI just to name a few. And these were all "Audited" by major firms.

You would like us all to be so concerned about Scott Dittman?

OK. consider us concerned.

WinnerAlright

04/16/14 8:58 PM

#5798 RE: TraderGash #5791

This is from the report. Explanation of the $500,000 difference.


Note%4%2012%Restatement% In connection with the finalization of our 2013 financial statements, we have restated our 2012 financial statements to reverse $500,000 of the $750,000 in revenue that was recognized during 2012 for the previously reported exclusive licensing arrangement with VertiFresh LLC (“VertiFresh”) for the use of PharmPods growing technologies for agricultural products. The restatement was based on reevaluating the arrangement with VertiFresh which required $250,000 be paid during 2012 for the licensing of the Colorado territory (on a nonrefundable basis), and the remaining $500,000 to be due in equal installments of $250,000 during 2013 and 2014 for the rights to two additional territories. The initial $250,000 was paid during 2012 and was reflected as earned revenue. The remaining $500,000 was set up as an accounts receivable and was reflected as earned revenue in error under US GAAP as the formal agreement was never finalized the amounts due were for future territories and therefore not earned during 2012 and collection of this amount was never reasonably assured given the startup nature of VertiFresh. No further payments are anticipated.

macgrady2004

04/16/14 9:15 PM

#5801 RE: TraderGash #5791

Bro, stop dissecting this thing and join us. You had your time. It's just making you look pathetic and desperate. To your point, all I have to say is, dude, it's a pink sheet. These things happen and guess what??? Look how much of a damn the market cared about the re-statement. I believe we closed up today. I'm sure that must burn you inside. I guess all you're really wanting is what I'm giving you right now, a reply. Since quite a bit of people on here read and don't comment, seeing people reply to you makes them believe what you have to say is of some importance but to those who know you just look pathetic. I don't mean to be harsh but just pointing the truth out.

HeedTheChief

04/16/14 9:56 PM

#5803 RE: TraderGash #5791

FSPM CEO Scott Dittman did a nice job in this interview
on 01/06/14:



Perhaps a fully audited, fully sec compliant FSPM would be
better.
The good news is the reason why financials are late is
because the CEO indicated they are working on first ever
audit, Form 10, and becoming sec compliant as indicated in
Point 23:48 in the interview.

Also some nice talking points like:

" Active projects in Canada, Washington, Nevada,
Arizona, Massachusetts, and currently bidding on a
project in Uruguay ", wow!

And, " we will ship more Pharmpods in the next 45
days than we have shipped since the company began ".
wow!

"New Boston facility will have 108 PharmPods"

http://www.pharmpods.com/