FITX News 08/28/2014 06:28:27 $FITX
Cen Biotech: A Promise Delivered !...:
" 'Health Canada inspectors were present on July 31, 2014 and conducted their pre-license inspection. The facility was built according to specifications provided to Health Canada. We look forward to the next steps in this amazing journey,' stated Bill Chaaban, President & CEO."
FITX Rounding Bottom Pattern
Rounding tops and rounding bottoms occur as investors have an almost paradigm shift in their bearish or bullish expectations. This gradual, yet steady shift forms a rounded top (bearish) or in this case, a rounding bottom (bullish) as the outlook begins to conform to the market's expectations.
"Volume during both rounding top and rounding bottoms often mirrors the bowl-like shape of prices during a rounding bottom. Volume, which was high during the previous trend, (bearish) decreases as expectations shift and traders become indecisive. Volume then increases as the new trend is established" Technical Analysis from A to Z, Steven Achelis
The rounding bottom of FITX is a perfect example of this technical chart pattern. With volume of over 60 million trades, that was well above the average 17 million for the stock, it would be prudent that this shift has gradually occurred and will optimistically catapult to new highs investors have yet to seen.
Peter Canellis, owner of PGC Trading and co-founder of Trader's lounge explains:
In the FITX Rounding Bottom example you can see that the price climbs into the pattern. Once the pps runs into the trend line, the pps soars out and up to the right side. Typically once this occurs the pps begins to see large gains.
Ascending and Symmetrical Triangle Pattern
According to many technical traders, a triangle can occur as the range between peaks and troughs narrows. Triangles typically occur as prices encounter a support or resistance level that often constricts the price movement of the stock. There are varying forms of triangle patterns, much of which are focused on detecting breakout patterns.
A Symmetrical triangle pattern occurs when prices are making both lower highs and higher lows. An Ascending triangle pattern occurs when there are higher lows, but the highs are relatively at same price levels due largely to resistance. With continual support, the odds fair well that an upside breakout from an ascending triangle will occur. It is important to note that breakouts like these can often occur when there is an increase in volume. (FITX had 60 million in volume, average 20 million)
Peter Canellis explains:
This chart is classic!! We have two Ascending Triangle formations and a Symmetrical Triangle formation. The triangles can be depicted on the chart above: The Long Term Ascending Triangle (A,B,C) The Medium Term Ascending Triangle (H,E,
The Short Term Symmetrical Triangle (D,F,G). What does all this mean? Since May 21st we have been walking up along the trend line. Slowly and methodically heavy accumulation during this period occurred. On August 25th, the pps broke through the upper trend line of the Short Term Symmetrical Triangle (D,F,G). On August 26th, the pps broke through the upper trend line of the Medium Term Ascending Triangle (H,E, on high volume of roughly 60 million shares. Lastly, on August 27th, the pps retraced to the trend line (.0626) and tested the support level in this area. With the announcement that the facility has been inspected, investors are extremely confident that licensing is around the corner. I expect that we will continue to trade on or above the trend line over the next several days as we await news. The Long Term Ascending Triangle dictates a breakout in pps sometime between now and October 15th. Once this breakout occurs, depending factors driving the price, the first PPS target will be .1850. If indeed licensing news is the driving force, I expect PPS to possibly test the .65 -.70 range.
http://seekingalpha.com/instablog/822743-rise...-delivered
$FITX
I've done well not paying attention to what has turned out to be 'farts in the wind' for almost 2 years now. Green is where we are going and nothing is going to stop this $$$ train...the smart investors are on board.
GO FITX!!
FITX Stock Message Board http://investorshangout.com/Creative-Edge-Nut...ITX-63675/
FIX got until Friday to show license! This boat is going to sink, he has not license and will never get it.. Fix saying the biggest weed facility in the work!! HAHAHAHAHAHAH what a joke! Not such a facility was ever built.... 70 thousand square feet max! THIS BOAT IS GOING TO SINK FAST ON FRIDAY!
We tick back up tomorrow
Medical Marijuana On Back Burner
http://blackburnnews.com/tag/cen-biotech/
Quote:
Mayor Tom Bain thinks they can be flexible with timelines in order to get the bylaw right — but hopes it’s sorted out in three to four months.
"Bill Chaaban on American Greed would be funny....."
Bahige/Basir/Bahij/Bassam/Bahije "Bill" Chaaban (Chaadan) or whatever other names he has gone by/goes by would be funnier behind bars and disbarred.
Now that would be worth the price of a prison visit.
What arE the other companies who have gotten it because that would be good to know how long it would take.
Thinking about selling idk why this 75 mil thing is weird to me and chaabs is weirder for making fb posts about his company when he said he wouldnt anymore...
what makes you say that?
I held P$OT when it got halted and I am scared... this frankly seems worse and they were in bed w eachother...
BIll Chaaban on American Greed would be funny.....
It seems to me that the folks at pumpsanddumps.com may be exaggerating a bit on what can obviously be noted as small mistakes made by FITX.
Clearly, somebody made a mistake on the Aug. 19 Quarterly Report about the number of shares issued (page 2). On Aug. 26 FITX issued an Interim Financial Report that expressly addresses this problem titled, "Revised 3rd QT with retirement of 75,000,000 shares accounted for".
75,000,000 is the difference in shares between the Aug. 19 and Aug. 26 reports. Of note, page 21 of each document is different with the later document stating that Canadian Nutrition Superstores had failed to "supply certain financial information requested." This is certainly a valid reason to terminate an acquisition with 75,000,000 on the line. Additionally, this is one of the terms stated in the May 20 Quarterly Report on page 21 regarding the acquisition that FITX could "terminate it depending on the ability of the acquiree to supply certain financial information requested."
I am disappointed that the deal didn't go through, but it appears Canadian Nutrition Superstores couldn't hold up their end of the bargain. While its not a full blown PR sent out to the news outlets, it is a public statement of the failure. I'm sure Canadian Nutrition Superstores is better off without FITX shouting to the world that they couldn't get their books in order. Probably some legal reasons in there for not making a more public announcement, too.
While on the topic of the May 20 Quarterly Report and Canadian Nutrition Superstores, this subsequent pumpsanddumps.com article points out that the report states "The Company will either consummate the transaction in the first quarter of 2014" and surmised that the transaction should already have been completed. Clearly, this is another typo. A document from May 20 noting a recent deal would not be referring to the past as a possible time to finish.
pumpsanddumps.com seems a dubious source of information about FITX. The information is sensationalized and their links to sources don't necessarily go to the correct place. The "Loses Count" article's first link (at the time of this post) directs you to the "FITX - Supplemental Information" Aug. 19 document when the unknown author is clearly talking about the Quarterly Report. Following their chain of thought with the incorrect link felt a bit disorienting. This, of course, can be attributed to simply copying the wrong link by accident. Typos, apparantly, make the world go round.
The mistakes in the quarterly reports on share counts and the Canadian Nutrition Superstore acquisition seem to be the biggest points those articles are discussing. Frankly, there is a valid point to be made by bringing them up: FITX needs to do a much better job with proofreading its quarterly reports. This does not appear to me as much a devastating series of events as they are presented by pumpsanddumps.com, but it is something that needs addressing.
As for the -0.005$ movement today: yesterday's announcement created a boost in volume and price, resulting in an RSI over 70. So, we should have expected a small correction today. Nothing to freak out about. I expect good things in the future from FITX.
http://m.ibamag.com/news/lloyds-branches-out-...19332.aspx
Question: Since other publicly traded companies have obtained licenses from Health Canada, is there a general timeline available in how long it took those companies to obtain their license after HC completed their pre-license inspection?
Uh. The TOS applies to iHub posters. Not pinky CEOs. You should read that TOS agreement again.
Billy thanks all the new bag holders. It is only going down from here.
Likely, they've already been rejected and must to wait until November to re-apply. IMO.
lmao i screenshotted that! pretty obvious to me! RIP TWEED! LETS GO FITX!!!!!!!!!!!!!!
It isn't stealing. When you walk into a convenience store and buy a lottery ticket you aren't being robbed. Since last year people have pointed out the holes in this company and people chose to ignore them. At any point those people can chose to sell their shares, take their loses and move on.
There is nothing sinister in this. It is naivety and stupidity. If people had basic common sense no one would have ever bought any of shares. There are no bashers. There are no shorts. There is just a lottery ticket that doesn't pay out very often.
It is a game.
You would have to assume HC would take the time to review the share structure of a company not even trading on a Canadian exchange. HC would not have anyone on staff who would have the ability to review the share structure of any company - they would rightly assume if the regulator has not taken action against this or any other company they then would not have grounds for denying a license based upon no action being taken by the SEC. Even then their mandate is very different from that of an exchange or a regulator or even an over the counter quotation system. Their mandate is to determine whether an applicant can provide to the Canadian public that which they have applied for a license to provide. I doubt very much HC would even consider the share structure of this or any applicant in that manner. The Ontario Securities Commission has zero jurisdiction over this company. Until they uplist to the Nasdaq, NYSE or any other exchange recognized by the Ontario Securities Commission, this company is not required to report to any regulator in Canada. If they go to the Nasdaq for example, they would then be required to also report their audited annual and quarterly financials to the OSC as well.
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Cen Biotech: A Promise Delivered !...:
" 'Health Canada inspectors were present on July 31, 2014 and conducted their pre-license inspection. The facility was built according to specifications provided to Health Canada. We look forward to the next steps in this amazing journey,' stated Bill Chaaban, President & CEO."
FITX Rounding Bottom Pattern
Rounding tops and rounding bottoms occur as investors have an almost paradigm shift in their bearish or bullish expectations. This gradual, yet steady shift forms a rounded top (bearish) or in this case, a rounding bottom (bullish) as the outlook begins to conform to the market's expectations.
"Volume during both rounding top and rounding bottoms often mirrors the bowl-like shape of prices during a rounding bottom. Volume, which was high during the previous trend, (bearish) decreases as expectations shift and traders become indecisive. Volume then increases as the new trend is established" Technical Analysis from A to Z, Steven Achelis
The rounding bottom of FITX is a perfect example of this technical chart pattern. With volume of over 60 million trades, that was well above the average 17 million for the stock, it would be prudent that this shift has gradually occurred and will optimistically catapult to new highs investors have yet to seen.
Peter Canellis, owner of PGC Trading and co-founder of Trader's lounge explains:
In the FITX Rounding Bottom example you can see that the price climbs into the pattern. Once the pps runs into the trend line, the pps soars out and up to the right side. Typically once this occurs the pps begins to see large gains.
Ascending and Symmetrical Triangle Pattern
According to many technical traders, a triangle can occur as the range between peaks and troughs narrows. Triangles typically occur as prices encounter a support or resistance level that often constricts the price movement of the stock. There are varying forms of triangle patterns, much of which are focused on detecting breakout patterns.
A Symmetrical triangle pattern occurs when prices are making both lower highs and higher lows. An Ascending triangle pattern occurs when there are higher lows, but the highs are relatively at same price levels due largely to resistance. With continual support, the odds fair well that an upside breakout from an ascending triangle will occur. It is important to note that breakouts like these can often occur when there is an increase in volume. (FITX had 60 million in volume, average 20 million)
Peter Canellis explains:
This chart is classic!! We have two Ascending Triangle formations and a Symmetrical Triangle formation. The triangles can be depicted on the chart above: The Long Term Ascending Triangle (A,B,C) The Medium Term Ascending Triangle (H,E,
The Short Term Symmetrical Triangle (D,F,G). What does all this mean? Since May 21st we have been walking up along the trend line. Slowly and methodically heavy accumulation during this period occurred. On August 25th, the pps broke through the upper trend line of the Short Term Symmetrical Triangle (D,F,G). On August 26th, the pps broke through the upper trend line of the Medium Term Ascending Triangle (H,E, on high volume of roughly 60 million shares. Lastly, on August 27th, the pps retraced to the trend line (.0626) and tested the support level in this area. With the announcement that the facility has been inspected, investors are extremely confident that licensing is around the corner. I expect that we will continue to trade on or above the trend line over the next several days as we await news. The Long Term Ascending Triangle dictates a breakout in pps sometime between now and October 15th. Once this breakout occurs, depending factors driving the price, the first PPS target will be .1850. If indeed licensing news is the driving force, I expect PPS to possibly test the .65 -.70 range. http://seekingalpha.com/instablog/822743-rise...-delivered
$FITX
I've done well not paying attention to what has turned out to be 'farts in the wind' for almost 2 years now. Green is where we are going and nothing is going to stop this $$$ train...the smart investors are on board.
GO FITX!!
FITX Stock Message Board http://investorshangout.com/Creative-Edge-Nut...ITX-63675/
FIX got until Friday to show license! This boat is going to sink, he has not license and will never get it.. Fix saying the biggest weed facility in the work!! HAHAHAHAHAHAH what a joke! Not such a facility was ever built.... 70 thousand square feet max! THIS BOAT IS GOING TO SINK FAST ON FRIDAY!
We tick back up tomorrow
Medical Marijuana On Back Burner
http://blackburnnews.com/tag/cen-biotech/
Quote:
Mayor Tom Bain thinks they can be flexible with timelines in order to get the bylaw right — but hopes it’s sorted out in three to four months.
"Bill Chaaban on American Greed would be funny....."
Bahige/Basir/Bahij/Bassam/Bahije "Bill" Chaaban (Chaadan) or whatever other names he has gone by/goes by would be funnier behind bars and disbarred.
Now that would be worth the price of a prison visit.
What arE the other companies who have gotten it because that would be good to know how long it would take.
Thinking about selling idk why this 75 mil thing is weird to me and chaabs is weirder for making fb posts about his company when he said he wouldnt anymore...
what makes you say that?
I held P$OT when it got halted and I am scared... this frankly seems worse and they were in bed w eachother...
BIll Chaaban on American Greed would be funny.....
It seems to me that the folks at pumpsanddumps.com may be exaggerating a bit on what can obviously be noted as small mistakes made by FITX.
Clearly, somebody made a mistake on the Aug. 19 Quarterly Report about the number of shares issued (page 2). On Aug. 26 FITX issued an Interim Financial Report that expressly addresses this problem titled, "Revised 3rd QT with retirement of 75,000,000 shares accounted for".
75,000,000 is the difference in shares between the Aug. 19 and Aug. 26 reports. Of note, page 21 of each document is different with the later document stating that Canadian Nutrition Superstores had failed to "supply certain financial information requested." This is certainly a valid reason to terminate an acquisition with 75,000,000 on the line. Additionally, this is one of the terms stated in the May 20 Quarterly Report on page 21 regarding the acquisition that FITX could "terminate it depending on the ability of the acquiree to supply certain financial information requested."
I am disappointed that the deal didn't go through, but it appears Canadian Nutrition Superstores couldn't hold up their end of the bargain. While its not a full blown PR sent out to the news outlets, it is a public statement of the failure. I'm sure Canadian Nutrition Superstores is better off without FITX shouting to the world that they couldn't get their books in order. Probably some legal reasons in there for not making a more public announcement, too.
While on the topic of the May 20 Quarterly Report and Canadian Nutrition Superstores, this subsequent pumpsanddumps.com article points out that the report states "The Company will either consummate the transaction in the first quarter of 2014" and surmised that the transaction should already have been completed. Clearly, this is another typo. A document from May 20 noting a recent deal would not be referring to the past as a possible time to finish.
pumpsanddumps.com seems a dubious source of information about FITX. The information is sensationalized and their links to sources don't necessarily go to the correct place. The "Loses Count" article's first link (at the time of this post) directs you to the "FITX - Supplemental Information" Aug. 19 document when the unknown author is clearly talking about the Quarterly Report. Following their chain of thought with the incorrect link felt a bit disorienting. This, of course, can be attributed to simply copying the wrong link by accident. Typos, apparantly, make the world go round.
The mistakes in the quarterly reports on share counts and the Canadian Nutrition Superstore acquisition seem to be the biggest points those articles are discussing. Frankly, there is a valid point to be made by bringing them up: FITX needs to do a much better job with proofreading its quarterly reports. This does not appear to me as much a devastating series of events as they are presented by pumpsanddumps.com, but it is something that needs addressing.
As for the -0.005$ movement today: yesterday's announcement created a boost in volume and price, resulting in an RSI over 70. So, we should have expected a small correction today. Nothing to freak out about. I expect good things in the future from FITX.
http://m.ibamag.com/news/lloyds-branches-out-...19332.aspx
Question: Since other publicly traded companies have obtained licenses from Health Canada, is there a general timeline available in how long it took those companies to obtain their license after HC completed their pre-license inspection?
Uh. The TOS applies to iHub posters. Not pinky CEOs. You should read that TOS agreement again.
Billy thanks all the new bag holders. It is only going down from here.
Likely, they've already been rejected and must to wait until November to re-apply. IMO.
lmao i screenshotted that! pretty obvious to me! RIP TWEED! LETS GO FITX!!!!!!!!!!!!!!
It isn't stealing. When you walk into a convenience store and buy a lottery ticket you aren't being robbed. Since last year people have pointed out the holes in this company and people chose to ignore them. At any point those people can chose to sell their shares, take their loses and move on.
There is nothing sinister in this. It is naivety and stupidity. If people had basic common sense no one would have ever bought any of shares. There are no bashers. There are no shorts. There is just a lottery ticket that doesn't pay out very often.
It is a game.
You would have to assume HC would take the time to review the share structure of a company not even trading on a Canadian exchange. HC would not have anyone on staff who would have the ability to review the share structure of any company - they would rightly assume if the regulator has not taken action against this or any other company they then would not have grounds for denying a license based upon no action being taken by the SEC. Even then their mandate is very different from that of an exchange or a regulator or even an over the counter quotation system. Their mandate is to determine whether an applicant can provide to the Canadian public that which they have applied for a license to provide. I doubt very much HC would even consider the share structure of this or any applicant in that manner. The Ontario Securities Commission has zero jurisdiction over this company. Until they uplist to the Nasdaq, NYSE or any other exchange recognized by the Ontario Securities Commission, this company is not required to report to any regulator in Canada. If they go to the Nasdaq for example, they would then be required to also report their audited annual and quarterly financials to the OSC as well.
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