FITX Company info 03/06/2016 02:57:05 $FITX
I'm curious to know if the opinion is suspended for fraud why is it back trading in the Greys? Is fraud 'sorta ok' lol?
Welcome back!
Recently FITX announced the release of two energy drinks in the first quarter of 2016 so expect to see them in the next couple of weeks. Unfortunately due to late filing (that has now been submitted) FITX was suspended from trading but opened back up on Friday. It is also now trading in the Grey market but with a good product launch of Giddy Up we should see us back in the Pinks.
Cen Biotech did spin off November 30th as promised by the company and was cleared by FINRA last month. Obviously FINRA vetted Bill Chabban (who some say is a shady character lol) and the company. IMO we'll see a new ticker and trading this week but of course that's just a guess but why not if FINRA has given us the green light!
Exciting times ahead and look forward to all the good DD being done on this board.
You're not alone in being "a little slow to the news", Missy. So too was the SEC's snail's pace reaction to the dozens of false and misleading news releases, including the Canadian Ministry of Health's expressed issues and the Ontario Securities Commission's formal investigation of Creative Edge Nutrition Inc.
The instant Chaaban sold mega millions of shares despite public proclamations that he "hadn't sold even one share" the SEC should have immediately and urgently investigated every facet of the company and Chaaban's insidious machinations to defraud investors. The SEC would have had cause to suspend the stock within days of an investigation, not many months after the fact.
Perhaps the Cen Biotech spin-off was the trigger to prevent the perpetuation of the Creative Edge frauds into another stock, but there were many other justifiable reasons to suspend the stock at any time during the preceding 2 years.
I'm a little slow to the news... But AMAZING NEWS!!!
Knew it would happen one day with a scammer CEO like Bill..
Did they ever spin-off CEN Bio? Or was the cause for the suspension? An update would be nice if anyone wants to help fill me in.
(Been gone for 6+ months)
Best of luck everyone!
Missy
Quote:
There is many many reasons a stock could get suspended fraud is only one of many reasons, many!
No, there isn't. The SEC only suspends companies for one of two reasons. And for non-SEC registrants, there is only ONE reason they suspended a company.
FRAUD.
And FITX was not an SEC registrant. Therefore, it was definitely suspended for fraud. The SEC suspension notice also says that very clearly.
Quote:
Any link with his name showing he is being charged by the SEC. I'll happily wait.
That is not what you asked. You said is he under investigation. The answer to that questions is an obvious and unqualified YES. The stock was suspended, which means the Company and its management are currently subject of a formal investigation by the Commission.
Any charges would come later. The SEC has up to 5 years to file charges, or they could decided none are warranted. But to make that decision, they have to conclude the formal investigation which is currently underway.
So the answer to your original question is, YES. A formal investigation is underway.
Another delay as usual http://www.cenbiotechinc.com/PlatformApps/CEN/c1/index.html ...why don't they just shoot straight there always comes a time in the end
Exactly
Yep I got burned a little. I owned it several times over the last two years. IMO CEN's PPS will start to drop as soon as it gets a ticker. The drop will continue as long as there is no "License". It should be a great stock to short - All IMO of course.
Agreed - A Formal Investigation Is Underway. It's only logical. Just because they were only suspended does not mean they can not still be halted from trading all together. I can not believe how long this drama has been going on with this company. It's going to be very interesting going forward from here. I guess as soon as we get a ticker for CEN there will be a I-Hub page for that - if there is not one already. It's a good thing there are now two separate company's.
No problem. I took a gamble as you most likely did and lost. Got tired of the BS. Hopefully it all works out for you though! I have a feeling the cen share are going to be more worthless than FITX. But that's just my opinion. You stick around for 1+year holding with a CEO that makes excuses left and right, you kind of figure it all out. But best of luck to you and your future investments.
Thanks that's good to know.
I will probably sell my FITX Monday and keep the CEN. I have a feeling I'll be able to pick FITX back up at .0002 sometime in the not to distant future.
It seems pretty cut and dry IMO.
"It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Creative Edge Nutrition, Inc. because of questions concerning the accuracy and adequacy of publicly available information about the company, including, among other things, the control of the company and trading in its securities."
https://www.sec.gov/litigation/suspensions/20...7178-o.pdf
LOL! The SEC very likely had a very good idea, and very likely good evidence before the SEC made the decision to suspend.
..
Buyer Beware
Grey Market
..
Exactly.
Suspected fraud !!
There is many many reasons a stock could get suspended fraud is only one of many reasons, many!
Not true. There are only two basic reasons for SEC suspensions. The first is delinquent SEC filings. The second, and less common, is suspected fraud.
FITX is not an SEC registrant, so...
And FITX was probably suspended for a variety of those, not just fraud. Billy Chaaban is a crook,and will pay for it.
CEN Biotech Inc., a Wholly-Owned Subsidiary of Creative Edge Nutrition, Inc. Completes Spin Off Announces Bill Chaaban, Presi... "Access Wire" - 9/24/2015 6:13:00 AM
I'm curious to know if the opinion is suspended for fraud why is it back trading in the Greys? Is fraud 'sorta ok' lol?
Welcome back!
Recently FITX announced the release of two energy drinks in the first quarter of 2016 so expect to see them in the next couple of weeks. Unfortunately due to late filing (that has now been submitted) FITX was suspended from trading but opened back up on Friday. It is also now trading in the Grey market but with a good product launch of Giddy Up we should see us back in the Pinks.
Cen Biotech did spin off November 30th as promised by the company and was cleared by FINRA last month. Obviously FINRA vetted Bill Chabban (who some say is a shady character lol) and the company. IMO we'll see a new ticker and trading this week but of course that's just a guess but why not if FINRA has given us the green light!
Exciting times ahead and look forward to all the good DD being done on this board.
You're not alone in being "a little slow to the news", Missy. So too was the SEC's snail's pace reaction to the dozens of false and misleading news releases, including the Canadian Ministry of Health's expressed issues and the Ontario Securities Commission's formal investigation of Creative Edge Nutrition Inc.
The instant Chaaban sold mega millions of shares despite public proclamations that he "hadn't sold even one share" the SEC should have immediately and urgently investigated every facet of the company and Chaaban's insidious machinations to defraud investors. The SEC would have had cause to suspend the stock within days of an investigation, not many months after the fact.
Perhaps the Cen Biotech spin-off was the trigger to prevent the perpetuation of the Creative Edge frauds into another stock, but there were many other justifiable reasons to suspend the stock at any time during the preceding 2 years.
I'm a little slow to the news... But AMAZING NEWS!!!
Knew it would happen one day with a scammer CEO like Bill..
Did they ever spin-off CEN Bio? Or was the cause for the suspension? An update would be nice if anyone wants to help fill me in.
(Been gone for 6+ months) Best of luck everyone!
Missy
Quote:
There is many many reasons a stock could get suspended fraud is only one of many reasons, many!
No, there isn't. The SEC only suspends companies for one of two reasons. And for non-SEC registrants, there is only ONE reason they suspended a company.
FRAUD.
And FITX was not an SEC registrant. Therefore, it was definitely suspended for fraud. The SEC suspension notice also says that very clearly.
Quote:
Any link with his name showing he is being charged by the SEC. I'll happily wait.
That is not what you asked. You said is he under investigation. The answer to that questions is an obvious and unqualified YES. The stock was suspended, which means the Company and its management are currently subject of a formal investigation by the Commission.
Any charges would come later. The SEC has up to 5 years to file charges, or they could decided none are warranted. But to make that decision, they have to conclude the formal investigation which is currently underway.
So the answer to your original question is, YES. A formal investigation is underway.
Another delay as usual http://www.cenbiotechinc.com/PlatformApps/CEN/c1/index.html ...why don't they just shoot straight there always comes a time in the end
Exactly
Yep I got burned a little. I owned it several times over the last two years. IMO CEN's PPS will start to drop as soon as it gets a ticker. The drop will continue as long as there is no "License". It should be a great stock to short - All IMO of course.
Agreed - A Formal Investigation Is Underway. It's only logical. Just because they were only suspended does not mean they can not still be halted from trading all together. I can not believe how long this drama has been going on with this company. It's going to be very interesting going forward from here. I guess as soon as we get a ticker for CEN there will be a I-Hub page for that - if there is not one already. It's a good thing there are now two separate company's.
No problem. I took a gamble as you most likely did and lost. Got tired of the BS. Hopefully it all works out for you though! I have a feeling the cen share are going to be more worthless than FITX. But that's just my opinion. You stick around for 1+year holding with a CEO that makes excuses left and right, you kind of figure it all out. But best of luck to you and your future investments.
Thanks that's good to know.
I will probably sell my FITX Monday and keep the CEN. I have a feeling I'll be able to pick FITX back up at .0002 sometime in the not to distant future.
It seems pretty cut and dry IMO.
"It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Creative Edge Nutrition, Inc. because of questions concerning the accuracy and adequacy of publicly available information about the company, including, among other things, the control of the company and trading in its securities."
https://www.sec.gov/litigation/suspensions/20...7178-o.pdf
LOL! The SEC very likely had a very good idea, and very likely good evidence before the SEC made the decision to suspend.
..
Buyer Beware
Grey Market
..
Exactly.
Suspected fraud !!
There is many many reasons a stock could get suspended fraud is only one of many reasons, many!
Not true. There are only two basic reasons for SEC suspensions. The first is delinquent SEC filings. The second, and less common, is suspected fraud.
FITX is not an SEC registrant, so...
And FITX was probably suspended for a variety of those, not just fraud. Billy Chaaban is a crook,and will pay for it.
CEN Biotech Inc., a Wholly-Owned Subsidiary of Creative Edge Nutrition, Inc. Completes Spin Off Announces Bill Chaaban, Presi... "Access Wire" - 9/24/2015 6:13:00 AM
