- The Creative Edge Nutrition Saga continues into 2015.
- Mounting evidence reveal possible forgery of former CEO Bill Chaaban's signature.
- The infamous multimillion dollar equity financier of CEN Biotech renegotiates stake for $9.6 million 12% debt bearing note.
- Restated financial statements reveal an ugly picture: $8 million working capital deficiency, -67% y/y decline in revenues, and -$15 million in net losses.
- In a nutshell, former Creative Edge management left investors with a -$20 million bill from CEN Biotech and nothing to show for it, except a T-Shirt.
Creative Edge Makes Front Page Canadian National News
- Canada's largest circulation national newspaper, the Globe and Mail, has published a two-part investigative report on the complications of Canada's MMPR system.
- The paper's second part paid significant attention to the notorious, 'Creative Edge Nutrition,' a company that has been scrutinized here at Seeking Alpha.
- Using the seedy practices of Creative Edge as an example of Canada's mismanaged system, the Globe and Mail ultimately puts Ottawa in the spotlight for failing to take responsibility to regulate its own industry.
Creative Edge Nutrition's Latest PR Stunt Leaves Shareholders Dazed And Confused
- As of Wednesday, November 19th, 2014 all of the officers and directors of Creative Edge Nutrition have resigned, effective immediately.
- The company stated in the same press release that its subsidiary, Cen Biotech, is to become its own publicly traded company.
- The move was unexpected and has left many scratching their heads, for it is unclear whether there is any value to owning Creative Edge Nutrition shares.
- Until further clarification, this stock should be avoided entirely, even by those wishing to invest in Cen Biotech.
- The town of Lakeshore has put out a press release stating very clearly that Cen Biotech is not 'grandfathered in' and will have to reapply for zoning.
- In the past few months, share price of FITX has tanked -70% and can easily continue to fall.
- Due to the negative backlash from the community, the company is now starting to look at other municipalities for its marijuana facility.
Creative Edge Nutrition Fiasco: Lakeshore Tells Health Canada, 'Not In Our Backyard'
- Residents of Lakeshore request that Health Canada not issue Cen Biotech a license.
- The company does not have municipal approval and is not complying with zoning by-laws.
- Remember: Money missed is better than money lost.
- Without a license to sell marijuana, I project a -97.5% downside, valuing FITX at a maximum $5 million.
- When an inaccurate article appeared in Forbes Magazine touting that FITX had a license to sell marijuana, FITX falsely claimed the story was true.
- In 2013, insiders were issued a total of 75.92% of the o/s. A shareholder who was issued 12.5% has been sued by the SEC for orchestrating a Pump and Dump.
- CEO of FITX, Bahige (Bill) Chaaban, sold and proposed to sell the maximum allowable amount of shares from April to June, or 33,424,175 personally taking in over $2.1 million.
- President/Secretary/Director of RXNB, Dr. Sam Alawieh, had to issue a nationwide recall last year for products produced out of his pharmacy Rxtra Solutions.
Dec. 31, 2014, 9:41 AM
May. 29, 2014, 9:30 AM
- In the entertaining world of cannabis industry press releases, DirectView Holdings (DIRV) sets a new standard in minutiae with today's pr announcing its acquisition of office space in Englewood, CO. No additional details were provided regarding the amount of the space or the color of the carpet.
- Related tickers in the pr: (TRTC) (FITX) (MJNA) (NVLX)
Apr. 11, 2014, 9:26 AM| 18 Comments
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