Investment holding company Fortitude Group Inc.’s (OTCPINK: FRTD) share volume continued to soar with 17,996,455 shares changing hands, nearly twice its three-month average of 9,828,041 shares.
The ongoing volume surge was sparked in part by the news that the company has entered the legal marijuana business in several potentially lucrative niches.
On Mar. 4, the Erie-Pa.-based company announced that it had entered into a joint venture agreement to obtain the USA production/sales/distribution and licensing rights for a medical marijuana product "MariMist" for the use in the care of cancer patients with MariMedical Pharmaceuticals, a privately held company. Additional clinical applications include the treatment of nausea, anxiety and pain relief.
According to the company, the terms of the agreement are extremely beneficial to Fortitude and its shareholders. As all revenues pass through the company, 92% will remain with Fortitude with a small royalty payment of 8% based on the wholesale price being paid to MariMedical. The agreement is for 3 years with an automatic extension for 7 years triggered when certain modest sales goals are achieved. Fortitude also has a one year option to acquire the international licensing rights for Mari-Mist, along with the right of 1st refusal for any future products solely developed by MMP.
This is the second deal Fortitude Group has consummated in the last week.
Provide Debit-Card Processing
On Feb. 22, Fortitude Group executed a Master Agent Agreement with eViteXchange.com. Under the terms of this agreement, Fortitude will offer and facilitate closed-loop transaction processing to legal dispensaries in the medical marijuana industry as well as provide processing for entities in states that have legalized recreational marijuana sales.
Fortitude shall acquire from eViteXhange.com the URL's 420banc.com and 420cashcard.com. Both domains will be used as a pre-paid platform allowing legal marijuana merchants customers to process purchase transactions using a debit card vs. cash. The private-label card will offer additional rewards and points to the card holders which can be custom designed to fit their individual likes and needs. Fortitude expects to derive approximately $155.00 annual profit per retail card user. The Company intends to launch on Mar. 17, 2014.”
Solid Business Plan
On Mar. 4, FRTD’s share price closed at 0.025 cents, down 0.0012 cents from its closing price of 0.0262 cents the previous day.
Find out what could be the best investor’s move when it comes to FRTD by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Wins Major Contract
In the security sector, Homeland Security Corp. (OTCPINK: HSCC) stock volume was robust Mar. 4, with 1,745,777 shares changing hands, significantly more than its three-month average of 1,335,162 shares.
The uptick in stock volume comes on the heels of the Newport Beach, Calif.-based security firm’s announcement that it had won an initial contract for $15,000 for a newly designed Overhead Crane Video system that will operate in a high heat environment.
More Contracts to Come
Upon completion of testing, there are an additional 11 cranes being considered for integration for a potential contract award of $165,000, the company said. This contract was awarded by one of the unnamed customer’s "domestic" divisions and the system was designed to operate in harsh and potentially hazardous environments.
This contract was the result of Homeland Security’s management team participating in a Global Industrial Process Monitoring conference, at the customer's facility in January of this year.
Homeland Security was asked to provide current technology for use in “standardizing” the process- monitoring applications both in the United States and for their international divisions. According to Homeland Security, more contracts will be awarded in the near future for the worldwide divisions and other vertical markets of the unnamed company.
More Disclosure Would Be Nice
While this all sounds good, it would have been nice if Homeland Security would have named the company from which it won the contract.
On Mar. 4, HSCC’s share price closed at 0.048 cents, up 0.007 cents from its closing price of 0.041 cents the previous day.
Find out what could be the best investor’s move when it comes to HSCC by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Quarterly Returns with Mixed Results
Meanwhile, it’s only been a little more than two weeks since Avanir Pharmaceuticals (NASDAQ:AVNR) reported its quarterly results for the period ending Dec. 31, 2013 and the company’s share price has been treading upward ever since.
The San Diego-based pharmaceutical and medical device company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.50.
Nonetheless, it had revenue of $26.70 million for the quarter, compared to the consensus estimate of $24.84 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Avanir’s revenue for the quarter was up 61.8% on a year-over-year basis. Analysts forecast that Avanir will post $-0.29 EPS for the current fiscal year.
On Mar. 4, AVNR’s share price closed at $4.30 up 14 cents from the share price of $4.16 the previous day.
Find out what could be the best investor’s move when it comes to AVNR by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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