All I know is yes, I am getting free shares, but that will be offset by FITX shares becoming less than worthless. so while I am getting "free shares" it is like someone saying "Hey! I am giving you a much smaller amount of better stuff, but you will get to keep the garbage, yes its garbage, but think of it as free garbage! Who doesn't like free! even if it is garbage!!"
Bottom line gag, we ALL knew a reverse split was going to happen with FITX to get the ticker to move and uplist. while yes, I GET IT!!!!! THIS IS NOT A R/S, but stepping back, it is...just in a clever way that I admit is smart...it protects the idea I invested in and does give me more peace of mind that they are smart enough to come up with this beauty. I loathe my SHARE COUNT will shrink considerably. We are receiving shares of the new company based on our percentage owned...NOT!!!! I repeat NOT!!!! an equal amount of shares, this is a camouflaged R/S...not a split. Bill and Co. know dang good and well, FITX will die. With no MMJ, FITX is the same company worth 0.00025 it was over a year ago. Unless by some miracle they actually have this new CEO turn FITX around and become a major player in the supplement space, FITX shares are worthless and will just be an eyesore in your portfolio.
Now...everyone needs to understand, we all knew the share count for FITX was out of control, the new company will most likely issues shares it probably was hoping to R/S FITX down to. If so and so has 100,000 shares of FITX today, it would be a waste to authorize the same 5 billion shares to distribute of the new company. The BOD said a long time ago they want to uplist, this will aid in that. Off of Pinks anyway. We will get equal percentages. So if you owned 0.005% of FITXs 5+ billion shares, that can be a hefty amount of shares you own, now lets say CEN Biotech authorizes 500 million, you will get 0.005% of that, so figure the percent difference between 5 billion and 500 million, then divide that total by your total share count of FITX, the answer there will be your amount of shares of the new company.
I can promise you, you will not wake up one morning with 100,000 of FITX and 100,000 of CEN Biotech.
Now, my speculation and I think would be smartest is this, the town is doing highly illegal things, its clear we do NOT want to work with a town that corrupt. I would leave all Hemp aspects with FITX, turn that building into a hemp building the town illegally discredits MMJ as agricultural but concedes Hemp is. Still sue the town into bankruptcy, then by the lands around for pennies. Move the MMJ aspect into an ALREADY BUILT building...like Tweed did, no more ground up stuff. Then after town has been decimated and left for dead, move all operations out leaving the building there as a reminder.
Bottom line gag, we ALL knew a reverse split was going to happen with FITX to get the ticker to move and uplist. while yes, I GET IT!!!!! THIS IS NOT A R/S, but stepping back, it is...just in a clever way that I admit is smart...it protects the idea I invested in and does give me more peace of mind that they are smart enough to come up with this beauty. I loathe my SHARE COUNT will shrink considerably. We are receiving shares of the new company based on our percentage owned...NOT!!!! I repeat NOT!!!! an equal amount of shares, this is a camouflaged R/S...not a split. Bill and Co. know dang good and well, FITX will die. With no MMJ, FITX is the same company worth 0.00025 it was over a year ago. Unless by some miracle they actually have this new CEO turn FITX around and become a major player in the supplement space, FITX shares are worthless and will just be an eyesore in your portfolio.
Now...everyone needs to understand, we all knew the share count for FITX was out of control, the new company will most likely issues shares it probably was hoping to R/S FITX down to. If so and so has 100,000 shares of FITX today, it would be a waste to authorize the same 5 billion shares to distribute of the new company. The BOD said a long time ago they want to uplist, this will aid in that. Off of Pinks anyway. We will get equal percentages. So if you owned 0.005% of FITXs 5+ billion shares, that can be a hefty amount of shares you own, now lets say CEN Biotech authorizes 500 million, you will get 0.005% of that, so figure the percent difference between 5 billion and 500 million, then divide that total by your total share count of FITX, the answer there will be your amount of shares of the new company.
I can promise you, you will not wake up one morning with 100,000 of FITX and 100,000 of CEN Biotech.
Now, my speculation and I think would be smartest is this, the town is doing highly illegal things, its clear we do NOT want to work with a town that corrupt. I would leave all Hemp aspects with FITX, turn that building into a hemp building the town illegally discredits MMJ as agricultural but concedes Hemp is. Still sue the town into bankruptcy, then by the lands around for pennies. Move the MMJ aspect into an ALREADY BUILT building...like Tweed did, no more ground up stuff. Then after town has been decimated and left for dead, move all operations out leaving the building there as a reminder.
