Posted On: 04/12/2014 9:55:54 AM
Post# of 56324
FITX Update...
Creative Edge Nutrition, Inc.
4 minutes ago
Shareholder Q & A: (via messages):
1. Ownership of CEN Biotech 20 North Rear Rd, Lakeshore, Ontario:
75% Creative Edge Nutrition, Inc.
25% Private Equity
Terms: 25% equity stake sold for $20 Million USD. No collateral. This is not a loan. Income in perpetuity.
Neither AJOA, Wise Phoenix or Rxnb own interest in this private equity group, The private equity group are arms length third parties.
2. Sourcing of equipment:
We had equipment sourced and ready before the GrowLife deal which is why we included a clause in the contract that said they had to provide comparable equipment at competitive prices. We had no obligation to buy the equipment from them. They were not giving free equipment. We have our own source of equipment. We always have.
3. Timeline: We are on schedule as stated numerous times.
Creative Edge Nutrition, Inc.
4 minutes ago
Shareholder Q & A: (via messages):
1. Ownership of CEN Biotech 20 North Rear Rd, Lakeshore, Ontario:
75% Creative Edge Nutrition, Inc.
25% Private Equity
Terms: 25% equity stake sold for $20 Million USD. No collateral. This is not a loan. Income in perpetuity.
Neither AJOA, Wise Phoenix or Rxnb own interest in this private equity group, The private equity group are arms length third parties.
2. Sourcing of equipment:
We had equipment sourced and ready before the GrowLife deal which is why we included a clause in the contract that said they had to provide comparable equipment at competitive prices. We had no obligation to buy the equipment from them. They were not giving free equipment. We have our own source of equipment. We always have.
3. Timeline: We are on schedule as stated numerous times.
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