I'm glad Otctrader is on board with exactly what w
Post# of 56324
Posted On: 11/11/2014 9:37:45 PM
Re: bushmantrader #42764
I'm glad Otctrader is on board with exactly what we've been saying for months now. FITX should be fine down the long road ahead, but Bill is one shady dude and its logical that he will continue to let this sink to put himself in a better position. The smart money is in the subpennies. Once those flood gates open it'll drop like a rock with a sharp reversal back to a comfortable PPS for those smart enough to not sit idly by.
And I re-quote for emphasis:
"A comment or two on FITX. I have said for months that I expected a significant PPS drop prior to license. The reason I expected a drop is because while I strongly support the company positioning itself within a new industry I also simply do not trust the integrity of the company CEO/Insiders, etc., Before anyone screams that I am bashing the company let me explain my position. (a) SS having approx 3.5 billion shares...Why? Also, (b) of those shares issued to insiders at par pricing there was never an audit or justification of exactly what the dollar value was in exchange for services provided. (c) the structure of a revenue share agreement in exchange for capitalization appeared to be in effect :self funding" via the sale of shares by insiders (d) the apparent application for medical marijuana license of a privately held Nevada company which may not be under the FITX umbrella (e) the selling of large quantities of shares by BC and insiders.
I note the above "trend" as it relates historically to price action and share structure. I consider the above then look again at share structure and consider a possible course of action that benefits insiders and the CEO (simply because this seems to be the pattern) and then deduced that if some type contrived activity developed prior to license that PPS would likely go back to sub penny which allows the company a mechanism to buy very cheap shares on the open market which could then be retired or used as treasury stock prior to audit or merger/uplist. Can I say this is what is happening? Absolutely not. Can I say this seems to fit a "pattern" of activity......absolutely. Is this (if accurate) legal. I really don't know. is it ethical....well.....are attorneys known for ethics?
Having said all the above I personally continue accumulating by buying lows. use of MACD, RSI, Volume,SMA20,SMA50, SMA100, SMA200, CMF make this a relatively simple exercise if you know what to look for, Also, note that I believe the PPS will be around .79 within 12 months operations after being HC licensed."
And I re-quote for emphasis:
"A comment or two on FITX. I have said for months that I expected a significant PPS drop prior to license. The reason I expected a drop is because while I strongly support the company positioning itself within a new industry I also simply do not trust the integrity of the company CEO/Insiders, etc., Before anyone screams that I am bashing the company let me explain my position. (a) SS having approx 3.5 billion shares...Why? Also, (b) of those shares issued to insiders at par pricing there was never an audit or justification of exactly what the dollar value was in exchange for services provided. (c) the structure of a revenue share agreement in exchange for capitalization appeared to be in effect :self funding" via the sale of shares by insiders (d) the apparent application for medical marijuana license of a privately held Nevada company which may not be under the FITX umbrella (e) the selling of large quantities of shares by BC and insiders.
I note the above "trend" as it relates historically to price action and share structure. I consider the above then look again at share structure and consider a possible course of action that benefits insiders and the CEO (simply because this seems to be the pattern) and then deduced that if some type contrived activity developed prior to license that PPS would likely go back to sub penny which allows the company a mechanism to buy very cheap shares on the open market which could then be retired or used as treasury stock prior to audit or merger/uplist. Can I say this is what is happening? Absolutely not. Can I say this seems to fit a "pattern" of activity......absolutely. Is this (if accurate) legal. I really don't know. is it ethical....well.....are attorneys known for ethics?
Having said all the above I personally continue accumulating by buying lows. use of MACD, RSI, Volume,SMA20,SMA50, SMA100, SMA200, CMF make this a relatively simple exercise if you know what to look for, Also, note that I believe the PPS will be around .79 within 12 months operations after being HC licensed."
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