Creative Edge Nutrition Inc (OTCMKTS:FITX) is moving up steadily in sub penny land since reversing off $0.0026 lows and another shareholder update from Bill Chaaban. FITX is one penny stock that knows how to market itself and was highly successful last year in attracting legions of shareholders who bided this one higher; when FITX heats up Investors need to pay attention.
On September 18 Bill Chaaban issued a letter to shareholders, he stated; ”We remain fully committed to execute the business plan set forth two years ago. On September 1, 2015, the Attorney General for Canada was served with our claim for damages under NAFTA. Once the facts surrounding this case are reviewed, we are confident that with this new factual information, CEN Biotech will prevail. This new and relevant information has been sealed by the court, preventing us from disclosing it publically. Additionally, we continue to pursue our license to grow medical marijuana under the Judicial Review process and our fight with Lakeshore at the OMB with these new facts. Our pre-hearing at the OMB is scheduled for January 5, 2016.
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.”
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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.”
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.
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.”
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Currently trading at a $16 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 has managed to capture the imagination of small cap Investors like no other bb as the Company’s future hangs in the process as according to Bill Chaaban ”the Attorney General for Canada was served with our claim for damages under NAFTA. Once the facts surrounding this case are reviewed, we are confident that with this new factual information, CEN Biotech will prevail according to Bill Chaaban. No mention is made of the fact that Canada hates penny stocks. HC has publically denounced FITX and the Company was long ago rejected by Lakeshore, Ontario. 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.