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What Do You Know About Creative Edge Nutrition Inc (OTCMKTS:FITX)

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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.

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1 Comment

1 Comment

  1. Ron Gillis

    March 2, 2016 at 2:37 am

    I challenge anyone to debate me one on one over private email on how FITX is going to be what Bill says it was, is, will be…………….financials also need explainaning………………

    Also, I’m not new to the FITX fraud train…check out my proof

    April 2014

    https://www.icmag.com/ic/showthread.php?t=285245

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Featured

Creatd, Inc. (OTCMKTS: CRTD) Stock Price Continues to Deteriorate as the Legal Battle with The Lind Partners, LLC Continues

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Creatd, Inc. (OTCMKTS: CRTD) share value continues to drop after a brief recovery in mid-March. The firm’s stock is still not at the lowest point it has ever been, but it is not too far off at this point. The lowest that the shares have gone was $0.0457, which is the point they reached on October 11th, 2022. After that, in the final months of the previous year, the stock price shot up, reaching $1.6941 per share on November 18th.

The last time when the shares reached this height was in February 2022. However, back then, the price was rapidly spiraling down from a much higher point. Unfortunately for the company and its investors, after reaching $1.6941 in November, the share price crashed in a sharp correction, sinking to $0.50 by the end of November.

CRTD found a strong support at this level, which allowed it to bounce back up to $0.90, which is where the company encountered a strong resistance. It kept bouncing back and forth between these two levels throughout December 2022 and January 2023. However, as time passed, the fluctuations were becoming smaller, as the price seemingly started achieving greater stability. Looking back now, however, it becomes clear that the volatility may have decreased, but the overall trend became bearish somewhere in mid-January.

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CRTD price was dropping again, and in the second half of February, it broke the support level at $0.50, sinking to $0.16 by February 27th. After briefly recovering in early March, the price went back up to $0.3, encountering a resistance here, as well, which pushed it back down to $0.1156 this time, which was on March 14th. In the last 48 hours, the price managed to recover a bit once more, sitting at $0.15 at the time of writing.

Creatd, Inc. (OTCMKTS CRTD) stock price continues to deteriorate as the legal battle with The Lind Partners, LLC continues

Creatd, Inc. (OTCMKTS: CRTD) stock has seen a rough performance over the last year, with only a brief period of recovery in November 2022. Other than that, the last 12 months were marked by nothing but price crashes triggered by various events that followed the company. In recent months — specifically in December — the company announced an upcoming merge with Global Tech Industries, albeit without disclosing the terms of the deal. After that, reports said that Global Tech Industries had decided to bid $100 million in stock in order to acquire Creatd. Creatd even halted any discussions with other potential acquirers for 30 days as part of the LOI. At the time, its CEO and Chairman, Jeremy Frommer, said:

There are two elements to this merger, fundamental and technical. The opportunity to advance the Creatd business model and scale revenues coupled with the unique technical position we find our two public companies in, is a momentous opportunity. At the time of closing of any proposed transaction, GTII share delivery to Creatd shareholders will only occur in instances of registered ownership with the transfer agent or DTC.

For a time, everything was going well for the company until February 24th, when reports emerged that Creatd had terminated the proposed acquisition discussions with Global Tech. This was what triggered the stock crash, as many were disappointed that the deal did not succeed.

Around that time, the company was also struggling with a potential illegal naked short selling, and it launched CEOBLOC to try and fight it. One positive development at the time was the fact that CRTD became available on Upstream, which marked the third issuer to dual-list their shares on Upstream’s blockchain-powered market.

https://twitter.com/UpstreamXchange/status/1625520006770618368

However, the stock was hit with another blow a week ago when Creatd released an update regarding its legal dispute with The Lind Partners, LLC, and the company’s affiliates. The dispute concerns a convertible promissory note that amounts to $900,000.

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According to Lind, Creatd breached certain representations and warranties in regard to the note. Lind demanded immediate repayment of the full amount, but Creatd instead decided to offer a number of alternatives. Lind refused to negotiate and Creatd filed a motion to dismiss. The company’s CEO said:

At this early stage, we are strictly trying to analyze data. There is more than enough evidence that there has been unusual trading in CRTD and it demands further investigation. To that end, we have asked legal counsel to look into filing multiple requests of trading records from market makers in CRTD stock. When and if the Company enters the discovery period in The Lind Partners, LLC case, any trading records related to The Lind Partners, LLC that were done with external broker dealers will also be analyzed.

Creatd, Inc. (OTCMKTS: CRTD) is a holding company that offers new economic opportunities to creators using partnerships and technology. The company’s goal is to empower creators and brands, and it claims that each of its companies shares a common mission — to create technologies and develop partnerships that would allow it to unlock new opportunities useful to entrepreneurs, brands, and creators, allowing them to also grow creatively, sustainably, as well as profitably.

For the moment, it appears that the situation is not the best for the company. It is in the middle of legal proceedings, its merger has failed, and its stock is one bad day away from reaching its all-time low. The chart above shows that CRTD is willing to grow and ready to jump on any opportunity, so the company still has a chance. Any piece of good news would likely send its stock to the path of recovery, which is why it is still worth keeping an eye on future developments. We will be updating on CRTD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CRTD.

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Sang Hyun Cho from Pixabay

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Featured

Global Tech Industries Inc (OTCMKTS: GTII) Declares War On Shorts

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Global Tech Industries Inc (OTCMKTS: GTII) has filed a lawsuit against Alpine Securities for spoofing and depressing the share price of GTII.

Global Tech Industries Inc (OTCMKTS: GTII) has filed a lawsuit against Alpine Securities for spoofing. The lawsuit claims that multiple parties were selling a significant number of shares at artificially depressed prices, which is attributed to the illegal behavior of spoofing.

According to David Reichman, CEO of GTII, the lawsuit is a significant step in the company’s efforts to protect itself and its shareholders from market manipulation. The company is represented in the case by the Christian Levine Law Group and Warshaw Burstein, LLP, two law firms that specialize in stock fraud litigation.

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The spoofing of shares refers to a fraudulent trading practice in which traders place buy or sell orders for a security, intending to cancel them before they are executed. This behavior creates a false impression of demand, causing the market price to move in a specific direction, which benefits the trader’s position. Spoofing is a violation of federal securities laws.

The lawsuit alleges that the financial firms named in the complaint engaged in illegal behavior that allowed them to manipulate the market and benefit from GTII’s artificially depressed share prices. GTII is seeking unspecified damages and injunctive relief to prevent further market manipulation.

Wes Christian, managing partner of the Christian Levine Law Group, stated that the lawsuit is yet another example of illegal market manipulation by the defendants. He emphasized the law firm’s commitment to protecting shareholders and holding financial firms accountable for their illegal behavior.

The lawsuit is an important step for GTII in its ongoing efforts to protect its shareholders and business from illegal market activities. It remains to be seen how the lawsuit will unfold, but GTII is committed to pursuing legal action against those who engage in market manipulation that harms the company and its shareholders.

Alpine Securities is in significant trouble and cannot pay the $2 million fine imposed on them by the SEC. GTII has the highest concentrated short position in Alpine’s books, which is significant. GTII needs to fight against this illegal behavior, and a lawsuit is one of the ways to do so.

Taking a step back and understanding the entire Alpine situation as a whole, it is clear that they are in trouble. The current market conditions, where the fluidity of credit is not as strong, can significantly affect borrower rates. When borrowing rates go through the roof, as was the case with GTII, it does not make sense to short-sell. People had to cover, and the stock went nearly double all-time highs to $9.

GTII has many catalysts, and the first one will be Upstream, which will open multiple avenues to throw a curveball at short sellers with special coupons and dividends. The 1-800 Law Firm deal is another catalyst that GTII is excited about. GTII expects to receive $85 million in receivables on the books, which will improve GTII’s fundamentals exponentially. This improvement in fundamentals could make the current resistance level of $2 the new floor.

Restricted dividends are another way GTII can throw a curveball at short sellers. Clean Vision’s success with restricted dividends is an example that worked in the recent past. The proof is there that it can work and is worth trying. If it is another curveball that can throw off a short seller, that’s perfect. It can’t hurt to try, especially if it is restricted, which means it will not dilute the stock for six to 12 months.

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GTII is in an exciting time, where banks are collapsing, and the market is getting rocked. Everyone is very tense, and there is a lot of pressure. Things are not as smooth as they were a year or two ago, so this could be a really good time for GTII. Many things are happening right now, including the 1-800 deal coming in two or three weeks, the Alpine update from the SEC in two to three weeks, the special dividends, and the lawsuit against Alpine.

When looking at the chart, GTII is testing a key level again. The $2 level has been struggling to hold above this range, but it is about to be retested again.

GTII Daily Chart

GTII Daily Chart

In conclusion, GTII has dropped a hammer on Alpine Securities by filing a lawsuit against them for spoofing. GTII is fighting back against illegal behavior and has many catalysts to help them. The current market conditions are not smooth, but GTII is in an excellent position to take advantage of this situation. With the lawsuit, the 1-800 deal, the Alpine update, and the special dividends, GTII is well-positioned to move forward.

MicroCapDaily sees GTII as one of the most exciting stories to follow. We will keep an eye on this one and push out updates as they unfold.

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

Image by Hilary Clark from Pixabay

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Emerging Markets

Is today’s surge in MMTec Inc (NASDAQ: MTC) justified ?

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MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 - $2.5299, with more than 2.98M shares exchanging hands.

MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 – $2.5299, with more than 2.98M shares exchanging hands.

So why did MTC surge today ?

The failure of Silicon Valley Bank led to a sell-off in equities and a shift to safe-haven assets, such as US Treasuries and gold. Markets have calmed down somewhat, and the worst of the equity sell-off seems to be over. However, the market anticipates that the markets will be somewhat uneasy until a better understanding of inflation is reached and what the Federal Reserve will do next week.

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Despite most investors currently avoiding the banking sector, Wall Street sees potential opportunities, particularly in regional banks. The chaos in the market has created opportunities in the industry and several banking stocks are being punished just for being a banking stock. The collapse of Silicon Valley Bank was due to its specialisation in venture-capital financing, which made it vulnerable to the higher interest rate regime of the past 12 months.

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Therfore, today’s gains in MTC seems to be more a sympathy bounce considering the overall banking sector. Earlier in March, MMTEC, Inc. (Nasdaq: MTC) declared that it will relocate its operations from Beijing to the Hong Kong Special Administrative Region, effective March 6, 2023. The Company’s subsidiary, MM Future Technology Limited, which is a Hong Kong incorporated limited company, will assume all operations previously conducted by its subsidiary, Gujia (Beijing) Technology Co., Ltd. However, Gujia will continue to carry out specific technical research and development functions. Further, the Company, through its subsidiary HC Securities (HK) Limited, and other entities, will continue to invest its human resources in asset management and securities underwriting, and other related businesses, aiming to attract global funds to invest in the Chinese market and support China’s economic growth. The Company’s new operations headquarters is located at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.

We will be updating on MTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTC.

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Disclosure: We have no position in MTC and have not been compensated for this article.

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