Dumping Of Shares By FITX In The Open market?
A question I got from a concerned investor that I couldn't confirm nor go into details since I've haven't been able to pull the documents of their finding. See below:
Interesting read. Question for you
I believe that many of the RS are being used to keep 51% majority control and the RS have been placed within LLC's or similar parties identified in the 2013 4th quarter financials. The RS are identified as services/debt/investment, etc. It appears to me that the number of shares that could make there way into the float is extremely high considering that (1) restricted shares issued to individuals for services rendered (12-month restriction begins at the time of issuance) and (2) the restricted shares issued in relation to debt (12-month restriction begins when the debt was originally issued and not when the shares are issued).
A question I got from a concerned investor that I couldn't confirm nor go into details since I've haven't been able to pull the documents of their finding. See below:
Interesting read. Question for you
I believe that many of the RS are being used to keep 51% majority control and the RS have been placed within LLC's or similar parties identified in the 2013 4th quarter financials. The RS are identified as services/debt/investment, etc. It appears to me that the number of shares that could make there way into the float is extremely high considering that (1) restricted shares issued to individuals for services rendered (12-month restriction begins at the time of issuance) and (2) the restricted shares issued in relation to debt (12-month restriction begins when the debt was originally issued and not when the shares are issued).
March 83,240,980 (if not held these probably already found there way into the market)
April 94,000,000
May 240,243,695
June 0
July 247,000,000
August 140,000,000
Total shares 804,484,675
This amount of shares even giving .10 pps is far more $$ then what is traded into the entire MJ sector and FITX has only about 5.27% of the total sector trade volume. I am very concerned about the pps just trading sideways and not reaching it's potential for a long long time if these shares make it into the float. Look at what happened in March as an example.
