That is correct. "Bill" has several private holding companies. He keeps the ones worth money in his private collection, CGIA, AJOA... and trades the broken down shell of a company, FITX on the OTC. I can't remember off the top of my head whether WP belongs to Bahige or Aswam. Either way, they all collect a share of about $90 million at today's price of $0.38 for PHOT. They already traded 12M shares of FITX to Bill's cousin Jim for the property in Canada so their only cost is construction at this point. Except that Bill just said they already got the shares by selling 25% to PHOT. The contracts surrounding this deal state that they don't get anything from PHOT until after they get a license and when they do, the amount of shares will be contingent on how much of the 1.3M lbs they get a license for.
Whether FITX or PHOT is footing the bill, it's not coming out of the company's pocket...
News 
Market Data 
Discover 
