Creative Edge Nutrition Inc (OTCMKTS:FITX) continues to slide further into sub penny land in recent weeks on lack of updates from the Company. This is one stock that knows how to market itself and was highly successful last year in attracting legions of shareholders who bided this one higher.
The last press release from FITX was in May when the Company provided its shareholders with an update on their GIDDY UP brand energy drinks. James L. Robinson said “We have made significant progress towards the launch of this breakthrough energy drink to the market,” Formulations have been completed for all six product flavors in both sugar and sugar free. The Company has developed the formulations for the twelve products and ordered the Fruit flavoring for our first production run of approximately 200,000 cans to meet early market demand for GIDDY UP. In parallel, we are currently working on our 24 pack master case & four pack packaging design six color process. Our supply chain partners have all been selected to meet what is expected to be a massive market demand following initial product launch. We will continue to keep you informed of the progress and formal product availability dates. Thank you for your positive emails and interest in our energy products.
Creative Edge Nutrition Inc (OTCMKTS:FITX) is the umbrella holding company based in Madison Heights, Michigan. The Company is headed up by new CEO James Robinson who have a vision to launch an industry leading energy drink line and to accelerate revenue, achieve profitability and shareholders’ value. Under the FITX umbrella, there are 2 primary business subsidiaries:
CEN-BIOTECH as previously described ”This subsidiary is involved in production and distribution of medical marijuana, and is based in Lakeshore, Ontario, just outside Windsor in Canada. FITX is one of the very few true “MMJ” stocks which will actually produce the marijuana, as opposed to most other that are involved with other derivative aspects of the marijuana such as CBD extracts, CBD research, edibles, smoking or growing devices, etc.”
CENERGY NUTRITION as previously described ”This subsidiary is our personalized sports supplement nutritional line. Cenergy products are sold on the biggest online supplement stores including Amazon, Bodybuilding.com, GNC, Europa Sports, Prosource, NutritionExpress, multiple others, and getting great reviews with rapid movement up the bodybuilding.com product popularity charts.
FITX has long been locked in a battle with HC to get their subsidiary CEN Biotech licensed so they can build out their planned ”58,000 sq. ft. building in Lakeshore, Ontario, Canada to grow pot and make the property the largest, most advanced medical marijuana grow facility on earth.”
Health Canada rejected the CEN Biotech application which put an end to that dream. The Company launched a Judicial Review and Writ of Mandamus in order to compel Health Canada to issue them a growing license but these are desperate measures that rarely succeed.
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Recently FITX said ”CEN Biotech Inc. has given notice of its intent to spin-off CEN Biotech Inc. from Creative Edge Nutrition, Inc. It has hired a PCAOB auditor and is far into its audit. CEN Biotech intends to be a fully audited and fully reporting company.
CEN Biotech is planned to be spun-off from Creative Edge and subsequent plans to be a new publicly-traded company.
FITX gained major attention last year when they announced their intention to build out a ”58,000 sq. ft. building in Lakeshore, Ontario, Canada to grow pot and make the property the largest, most advanced medical marijuana grow facility on earth.”
The stock went wild transforming to one of the top most traded stocks on the entire bb. At its height FITX was like a cult with shareholders selling t-shirts that said “FITX-Long” or “I-Billieve” (as in president and CEO of FITX, Bahige “Bill” Chaaban). FITX still boasts 12,500 followers on Facebook, 1,500 followers on Investors hub and 4,700 followers on Seeking Alpha the last time I checked.
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Currently trading at a $19 million market valuation FITX has $18 million in debt on the books that is going to be the primary issue with this stock going forward) and has minimal assets or revenues to date. The stock has managed to capture the imagination of small cap Investors like no other bb as the Company’s future hangs in the process as CEN Biotech’s bid to get licensed by Health Canada sits in Federal Court for Judicial Review. We will be updating on FITX on a daily basis so make sure you are subscribed to microcapdaily.com so you know what is going on with FITX.
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Disclosure: we hold no position in FITX either long or short and we have not been compensated for this article.