Reverse split effectuated, shares of Fastfunds Financial Corporation (FFFC) exploded this morning after traders had to sleep on the news that the credit card services company teamed up with the world’s most famous pot smoker: Tommy Chong. News that the better half of the Cheech & Chong group that made movie history in the late 70’s surfaced late on Tuesday with a detailed description of how to solve pot’s banking problem via The Tommy Chong Green Card. Having bottomed out during the time that the “D” was attached after a massive reverse split, FFFC stock has a big red “S” on its chest today and could be on its way to a Super run as April 20 approaches.
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FFFC Stock Quote / Chart
A small number of traders even care about news that OTC stocks put out, especially when they are marijuana related penny stocks after having seen how quickly Totally Hemp Crazy Inc. (THCZ) turned upside down just a week ago. Little did they know that the media outlets’ source for marijuana vocalization when it comes to the recently relaxed laws in the U.S. , Tommy Chong, was linked to have indirectly teamed up with FastFunds Financial, some were scared away when FFFC shares opened up at 0.004, up 66.67% from Tuesday’s close.
The news was worth the buying into the gap after reading that Chong’s workaround has him partnering with a merchant services company that treats the cards like gift cards instead of credit cards, thus placing them outside the purview of banking regulators. The company, Cannabis Merchant Financial Solutions, is part of FastFunds Financial Corporation, whose shares are traded over-the-counter.
For you all that too young to understand the significance of this, Tommy Chong, the man most famous for pot-infused “Cheech and Chong” movies and whose name is already on marijuana deodorizing wipes, is putting his name on a few other things, including a loyalty and payments card and a strain of marijuana.
The Tommy Chong Green Card is being marketed as a payments solution for medical marijuana dispensaries and recreational marijuana retailers that are now largely operating as all-cash businesses because of U.S. banking laws.
The cards sell for $19.95 each and must be loaded using cash — not a credit or debit card.
For those looking to see what this card will be worth to the Company, one must first see that Henry Fong, CEO of FastFunds, signed off the NT-10-K (late filing notification) with a very interesting notation: “As a result of the acquisition of Brawnstone Security, LLC in July 2014, the Company anticipates a significant change in the results of operations for the year ended December 31, 2014 versus December 31, 2013. The Company has not completed the financial statements necessary to provide a reasonable estimate of the change in the results of operations, however, the Company anticipates a significant increase in revenue from the operations of Brawnstone with changes in operating losses.”
Prior to that, the Company filed an 8K to report the On January 6, 2015, FastFunds Financial Corporation issued a convertible promissory note to Pure Energy 714, LLC, dated December 29, 2014 that netted the Company $25,000 in financing which the Company intends to use the proceeds from this financing for general working capital and to fund the development of corporate initiatives relating to its business plan. These two events, the $25,000 and the Tommy Chong Green Card will ultimately add in the future to top line numbers like the $235,560 FastFunds reported for revenues during the three months ended September 30, 2014.
If traders are still not convinced that FFFC could see an even better run than THCZ stock had from February to April, just check and see how on January 30, 2015, FastFunds effectuated a 1 for 600 reverse stock split to be effective on February 2, 2015. As a result of this transaction, a total of 8,618,747,434 shares of issued and outstanding pre-split common stock will become 14,364,876 shares of post-split common stock. Nuff Said.
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About FFFC Stock
Fastfunds Financial Corporation, together with its subsidiaries, operates in the financial services industry with a focus on credit card services portfolio. The company provides financing alternatives, corporate finance, and general management consulting services to early-stage cannabis companies and related ventures. It also offers GreenEnergyMedia.TV, a website that acts as an interactive social media hub, which provides the medical and recreational marijuana communities with access to various news and social media feeds in real-time. In addition, the company, through its interests in Brawnstone Security, LLC (Brawnstone), specializes in asset protection and recovery, private investigation, housing security, skip tracing, and tactical training activities. Brawnstone also provides a range of custom security solutions consisting of hardware installation and remote monitoring systems.
319 Clematis Street
West Palm Beach, FL 33401
Issued and Outstanding: 14,364,876
Last 5 Trading Sessions:
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