Creative Edge Nutrition Inc (OTCMKTS:FITX) continues to move steadily higher in recent weeks since reversing off $0.0025 lows earlier this year. The stock continues to get a boost from news on its subsidiary Giddy Up Energy Products, Inc., and its planned launch of its two initial energy drink flavors, Peach Mango and Cherry Pear.
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.”
In December FTIX said CEN has made a tactical legal decision unilaterally requesting an adjournment of the Judicial Review examinations because of the recent acknowledgment by the Minister of Health of the mandate letter of the Minister of Justice which includes the following:
However, to exercise caution, CEN and the Minister of Health makes no suggestion that the Government of Canada will change the regulatory structure for medical marijuana as a result of the mandate letter of the Minister of Justice. The requested adjournment of the pending Judicial Review case is essentially an extension of time for the depositions of CEN and government officials until early March of 2016.
On December 18 FITX announced GIDDY UP Energy Products has signed a contract with DSW Distribution Center (DSW) for warehousing, packaging and distribution fulfillment for its food and beverage products throughout the USA. DSW is a forty-two year old family-owned food-grade and multi-temperature controlled 3rd party logistic company specializing in perishable food products, beverages, organics, pharmaceuticals and general commodities. DSW was recognized in 2015 by FOOD LOGISTICS Magazine as a Top 100 3PL & Cold Storage Provider.
According to FITX on February 18 GIDDY UP(R) has been aggressively moving closer to the launch of its two initial energy drink flavors, Peach Mango and Cherry Pear. The Company plans to launch these two (2) flavors in the first quarter of 2016 to its initial distribution partners. GIDDY UP(R) then plan on launching its additional four flavors in the second and third quarters of 2016.
This phased approached will allow the Company to hone its distribution channels and strategy with each subsequent set of product flavor releases. GIDDY UP(R) has partnered with the best in the industry for development of its cans, cartons, trays, cases and wraps. These partners are all top producers in the market and have sound execution reputation for producing and delivering the highest quality products.
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Currently trading at a $22 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. The stock has also been slapped with the dreaded skull & crossbones designation from Otcmarkets. 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 and continues to move closer to initial product launches. 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.