After resinding PHOT deal, FITX may have to pay cash for equipment
FITX may have scared off any vendor fianancing deals for grow lights. Even though they may not be connected to PHOT halt, there is that shadow that will surround them as well. Don't know if they will have ample cash to fund entire lighting system. They may have to do it peice mil much like TWEED appears to be doing. I would give FITX a week before any serious buying or selling. Find out what happens 4/25 with PHOT. If nothing comes from SEC by end of April, it should be a green light for stock.
Please wake up and do some homework. After the PHOT mess.... FITX announced $20M of new equity funding to finish out all build activity and launch planting/production. Cash has been resolved per public statements by CEO.
Fianancing deal was done before PHOT halt. Only 4.5 million was advanced. Not sure how much will be left after building is finished. Rest of money may sit on sidelines and wasn't earmarked for equipment in first place. That part was coming from PHOT. No intelligent investor is going to throw more money at it without clarification from PHOT halt to make sure it wasn't involving them as well. Could be though, FITX initiated investigation because they wanted out of deal. Either way, lots of unanswered questions remain.