Creative Edge Nutrition Inc (OTCMKTS:FITX) saw a big pop after they announced its subsidiary Giddy Up Energy Products, Inc., entered into a Definitive Contract Manufacturing Agreement with the Dr. Pepper/Snapple Group(R) for manufacturing of the GIDDY UP ENERGY PRODUCTS line of beverages.
Like no other pot stock FITX was the most successful in capturing the imaginations and pocketbooks of small cap investors. At its height the stock was almost 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).
Pot stocks (and FITX wills till move with the sector) may be in for another boom; DEA being told by California judge to stop interfering with dispensaries, 6,000 non-violent drug offenders were just released Nov 1, New York opening medical MJ dispensaries January, Australia lifting ban on medical MJ. Another really big one is Canada’s new Prime Minister Justin Trudeau who has been promising legalization immediately in Canada.
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.
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.”
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In the recent letter to shareholders Bill Chaaban said ”I personally know that James Robinson, CEO of Creative Edge Nutrition, and his team are aggressively working on the Giddy Up market launch. I have tasted the product, seen the packaging and been made aware of his initial launch partners. I am very impressed with his execution plan and look forward to seeing the product on store shelves soon. I am convinced that, after the spinoff of CEN Biotech, James Robinson will execute a focused plan and continuously add value to his shareholders.”
On November 12 FITX announced its subsidiary Giddy Up Energy Products, Inc., entered into a Definitive Contract Manufacturing Agreement with the Dr. Pepper/Snapple Group(R) for manufacturing of the GIDDY UP ENERGY PRODUCTS line of beverages.
The American Bottling Company shall produce, package, store and ship GIDDY UP ENERGY Products(TM) Products in accordance with Good Manufacturing Practice requirements set forth in regulations promulgated under the Federal Food, Drug & Cosmetic Act and in compliance with the Product Specifications, quality control standards and coding systems supplied by Customer.
FITX CEO James L. Robinson said “I have worked with Dr. Pepper/Snapple Group in the past as CEO of a former energy drink company, and I continue to have an outstanding relationship with the company. The GIDDY UP(TM) product lines have been developed to address a specific markets not currently being served and we are confident from our past relationship that Dr. Pepper/Snapple Group is the perfect manufacturing partner.” We are finalizing all master distribution agreements by territory and product line which will complete our supply chains strategic relationships.
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Currently trading at a $10 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 #think dilution) and has minimal assets or revenues to date. FITX is one penny stock that knows how to market itself creating legions of shareholders through the whole lakeshore, Health Canada battle which they lost. Investors are hoping FITX ability to market itself will translate into big wins as new CEO James L. Robinson gets a key Manufacturing Agreement with the Dr. Pepper/Snapple Group(R) for Giddy Up Energy Products, Inc. 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.