UPDATED MUST READ FITX DD!!
I. COMPANY SUMMARY OF FITX: (Most up to date headlines/articles/DD section follows summary below.)
Creative Edge Nutrition (FITX) is the umbrella holding company . They are based in Madison Heights, Michigan. The company vision has been to build by organic growth and strategic acquisitions in a "vertical integration" strategy, for the purpose of quickly increasing revenue streams for company growth, while cutting out middle man costs. Revenue brought in from all subsidiary revenue streams listed below comes into the umbrella company, FITX. Bill Chaaban (CEO), has repeatedly stated, "There are NO current plans for a reverse split or an increase in authorized or outstanding shares . We are exploring the share buy back options." This has been repeatedly publicly stated as recent as mid-Feb.
Under the FITX umbrella, there are 2 primary business subsidiaries:
1) CEN-BIOTECH:
This subsidiary will be 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. Basically, these other "MMJ" revolve and exist around the actual product (marijuana) that we will be producing in MASS quantity. Their 85,000 square foot buildings with multiple floors and 10.3 acre production facility is expected to have the capacity to produce up to 1.3 million pounds of dried medical marijuana annually for Canadian distribution, as well as planned export to approximately 30 countries. FITX expects to generate revenue of $20 million in the 1st 12 months of operations, and $100 million/year by the 5th year of operations. FITX wants to eventually expand the facility to more than 1 million square feet on multiple floors, which would translate to $5 billion/year in revenue, with an anticipated profit margin of 80%. FITX plans to grow 50 strains of marijuana, from seeds sourced in Canada, Mexico and Colombia. The website is CENBIOTECHINC.COM .
REGARDING LICENSURE:
-On 3/2/14 Bill stated on Facebook, "We are aiming for an accelerated build out of our existing 27,000 sq ft building. We anticipate completion within 8 to 10 weeks when we will call for inspection."(In the 420 Investor interview with Alan Brochstein, he mentioned that Health Canada requested that they expedite the build out, so they decided to retrofit the existing building prior to finishing the build out of the larger new building, which they continue to do at the same time).
-On 3/3/14 Bill stated on Facebook, "We only have to have the fence, the security protocol and cameras, vault and software in place."
-In an article 3/4/14, Bill stated, “We anticipate our license being issued in 8-12 weeks.” ( I'm assuming actual interview was likely a couple weeks prior to the printed quote;
