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Yes your right
You mean Tuesday Wednesday followed by sell off Thursday (profit taking, some nervous people who listen to people such as yourself) back strong on Friday pretty sure it was the only marijuana stock in the green and that's was with less volume than on Tuesday or Wednesday.
Get your facts straight
Talking buy back friend buy back
You wish
Fosho Bro
Yes stumble on this like 2 wks ago wow we wow!
Agree totally
Well that mean they probably be on the Nasdaq
It's only logical to expect a buy back
Consolidation being taken place I doubt any dumping
It's about strains too, last time check on the FITX website they have over 20 different strains
Profits already being taken (not Me Holding) and it's still holding strong
My guess it's gonna be very FITX friendly (well it's friendly) especially after building permits etc..... Is wrap up can't wait for Monday, good thang I got Football ha ha
Never no they might get subsides for the utilities etc...
I hope for more cheapies too lol
Hey Man it's Weed it'll be a buy back (My Opinion )
You must be kidding weak supposition
And ignorance & DD don't go together
Friend if You've done your DD then you should be confident like I am
Totally agree
Be careful I know u want in on the cheap but facts sir facts pls
Succinct analysis. Read the seeking alpha article interesting or encouraging that FITX wasn't included
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Karsten Strauss, Forbes Staff
A journalist covering entrepreneurs, technology & business.
Follow (421)
ENTREPRENEURS | 12/30/2013 @ 1:09PM |22,051 views
Big Marijuana: Is It The Future?
21 comments, 3 called-out Comment Now
Follow Comments
4.0k
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Creative Edge Nutrition, a publicly traded U.S. company, was recently approved to grow, dispense and export medical cannabis in Canada. (image: Caveman Chuck Coker on Flickr)
Love it or loathe it, marijuana as medicine is not a trend likely to disappear soon. Its use – and sale – is not going unnoticed by the legitimate business world.
Michigan-based nutritional supplement company, Creative Edge Nutrition, is on course to becoming the first U.S. company to be allowed to distribute medicinal marijuana in Canada, says CEO Bill Chaaban. In November the company was notified by Canada’s federal health department, Health Canada, that it has been approved to grow, distribute, import and export medicinal marijuana and plant seeds through its Canadian subsidiary CEN Biotech.
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Creative Edge, which sells health supplements and trades for fractions of a penny on OTC Markets, reported less than $2 million in the first half of 2013 but Chaaban – an attorney licensed to practice in both the U.S. and Canada – says this latest play could catapult the company’s earnings into the stratosphere. “By the end of year five we’ll be doing $100 million in sales, with a margin of 80 percent.”
Currently, for medicinal users in Canada, marijuana costs between $5 and $6 CAD per gram (that’s between $4.70 and $5.60 in U.S. dollars). CEN Biotech’s cost to produce runs between 80 cents and $1 CAD per gram. Chaaban predicts the operation will be up and running and ready to begin shipping within seven months.
CEN Biotech’s new 58,000 square foot facility – still under construction in Lakeshore, Ontario, across the Detroit River from Michigan – has cost the company about $16 million CAD. Chaaban claims capital was raised from a pool of, ahem, ‘seed’ investors that includes companies that deal in alcohol and tobacco, entertainment industry players and professional sports figures. He would not provide specific names. Chaaban estimates that he owns roughly 4% of the company.
The level of oversight mandated by Health Canada has demanded CEN Biotech design their new facility like a high security penitentiary, says Chaaban, including night vision cameras, laser sensors, 24-hour security staff and tagging technology that will allow the organization to monitor the movement of every single plant. “There will be RF-ID (radio frequency ID) tags on every single seed.”
Also, no purchase of product by registered patients can be conducted in cash and CEN Biotech’s leadership team – made up of four lawyers, two doctors of pharmacy, two former law enforcement officers, an agricultural engineer and an executive of a drug company – has been vetted by the Royal Canadian Mounted Police.
Cannabis is used to treat the effects of glaucoma, Crohn’s disease, multiple sclerosis, nerve pain and chemotherapy, among other ailments. Health Canada had previously allowed individuals to apply for licenses to produce marijuana for medicinal use but increases in fire hazards, home invasions and crime have led the organization to push for a more regulated co-op system that requires fire and police approval, tracking and taxation, says Chaaban. Also, with so many producers, the organization had a hard time overseeing quality. “Too many people were applying to grow their own.”
Health Canada predicts that there will be half a million medicinal users in Canada within ten years but Chaaban feels that with the ease of access and assurance of consistency, that figure could be reached in two.
Not that Canada is CEN Biotech’s only market—the company’s 24 strains of plants will be exported to sources in Uruguay, Israel, The Netherlands, Mexico, Columbia, Iran and North Korea. Seeds from prime sources can be imported for use in the production facility.
Cannabis Day 2012, Vancouver. (image: Cannabis Culture on Flickr)
As far as the United States market is concerned, Chaaban is betting that as more states adopt laws embracing medicinal marijuana, state governments will look for taxable product sources they feel have trustworthy tracking procedures and he wants CEN Biotech to be among them. “Once the feds come on board we’ll definitely enter the U.S. market.”
Chaaban’s confidence that the U.S. will come around to enacting more lax cannabis legislation is not unfounded. Most recently, Colorado residents are able to purchase marijuana thanks to a law allowing the sale (no prescription required) and regulated production of marijuana which went into effect this week. At present, the state has 24 open shops selling the product with hundreds of pending applications from entrepreneurs interested in providing some service in the new industr.,
Other publicly traded firms work in the medicinal marijuana space, including Cannabis Science, Inc.; Endocan Corporation; GW Pharmaceuticals and Medical Marijuana, Inc. Should medical marijuana continue to be embraced by states and federal governments, more players are likely to enter the market as growers, distributors and investors.
Follow me on Twitter @KarstenStrauss
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For Wiz Khalifa, marijuana is more than just an illegal hobby—it’s an identity. He's transformed his affection for the plant into a moneymaking marketing tool, and in the process, turned himself into a lucrative lifestyle brand.
Check this out:
New Posts
+6 posts this hour
Popular
Snapchat's Future
Lists
The 2014 30 Under 30
Video
30 Under 30
12 Stocks to BUY for 2014 Help|Connect
|Sign up|Log in
Karsten Strauss, Forbes Staff
A journalist covering entrepreneurs, technology & business.
Follow (421)
ENTREPRENEURS | 12/30/2013 @ 1:09PM |22,051 views
Big Marijuana: Is It The Future?
21 comments, 3 called-out Comment Now
Follow Comments
4.0k
197
29
68
212
Creative Edge Nutrition, a publicly traded U.S. company, was recently approved to grow, dispense and export medical cannabis in Canada. (image: Caveman Chuck Coker on Flickr)
Love it or loathe it, marijuana as medicine is not a trend likely to disappear soon. Its use – and sale – is not going unnoticed by the legitimate business world.
Michigan-based nutritional supplement company, Creative Edge Nutrition, is on course to becoming the first U.S. company to be allowed to distribute medicinal marijuana in Canada, says CEO Bill Chaaban. In November the company was notified by Canada’s federal health department, Health Canada, that it has been approved to grow, distribute, import and export medicinal marijuana and plant seeds through its Canadian subsidiary CEN Biotech.
A.P. Poll Finds Falling Resistance To Marijuana Legalization
Jacob Sullum
Contributor
Uruguay's President Signs Bill Legalizing Marijuana
Jacob Sullum
Contributor
If Marijuana Legalization Sends The Wrong Message To Teenagers, Why Aren't They Listening?
Jacob Sullum
Contributor
Creative Edge, which sells health supplements and trades for fractions of a penny on OTC Markets, reported less than $2 million in the first half of 2013 but Chaaban – an attorney licensed to practice in both the U.S. and Canada – says this latest play could catapult the company’s earnings into the stratosphere. “By the end of year five we’ll be doing $100 million in sales, with a margin of 80 percent.”
Currently, for medicinal users in Canada, marijuana costs between $5 and $6 CAD per gram (that’s between $4.70 and $5.60 in U.S. dollars). CEN Biotech’s cost to produce runs between 80 cents and $1 CAD per gram. Chaaban predicts the operation will be up and running and ready to begin shipping within seven months.
CEN Biotech’s new 58,000 square foot facility – still under construction in Lakeshore, Ontario, across the Detroit River from Michigan – has cost the company about $16 million CAD. Chaaban claims capital was raised from a pool of, ahem, ‘seed’ investors that includes companies that deal in alcohol and tobacco, entertainment industry players and professional sports figures. He would not provide specific names. Chaaban estimates that he owns roughly 4% of the company.
The level of oversight mandated by Health Canada has demanded CEN Biotech design their new facility like a high security penitentiary, says Chaaban, including night vision cameras, laser sensors, 24-hour security staff and tagging technology that will allow the organization to monitor the movement of every single plant. “There will be RF-ID (radio frequency ID) tags on every single seed.”
Also, no purchase of product by registered patients can be conducted in cash and CEN Biotech’s leadership team – made up of four lawyers, two doctors of pharmacy, two former law enforcement officers, an agricultural engineer and an executive of a drug company – has been vetted by the Royal Canadian Mounted Police.
Cannabis is used to treat the effects of glaucoma, Crohn’s disease, multiple sclerosis, nerve pain and chemotherapy, among other ailments. Health Canada had previously allowed individuals to apply for licenses to produce marijuana for medicinal use but increases in fire hazards, home invasions and crime have led the organization to push for a more regulated co-op system that requires fire and police approval, tracking and taxation, says Chaaban. Also, with so many producers, the organization had a hard time overseeing quality. “Too many people were applying to grow their own.”
Health Canada predicts that there will be half a million medicinal users in Canada within ten years but Chaaban feels that with the ease of access and assurance of consistency, that figure could be reached in two.
Not that Canada is CEN Biotech’s only market—the company’s 24 strains of plants will be exported to sources in Uruguay, Israel, The Netherlands, Mexico, Columbia, Iran and North Korea. Seeds from prime sources can be imported for use in the production facility.
Cannabis Day 2012, Vancouver. (image: Cannabis Culture on Flickr)
As far as the United States market is concerned, Chaaban is betting that as more states adopt laws embracing medicinal marijuana, state governments will look for taxable product sources they feel have trustworthy tracking procedures and he wants CEN Biotech to be among them. “Once the feds come on board we’ll definitely enter the U.S. market.”
Chaaban’s confidence that the U.S. will come around to enacting more lax cannabis legislation is not unfounded. Most recently, Colorado residents are able to purchase marijuana thanks to a law allowing the sale (no prescription required) and regulated production of marijuana which went into effect this week. At present, the state has 24 open shops selling the product with hundreds of pending applications from entrepreneurs interested in providing some service in the new industr.,
Other publicly traded firms work in the medicinal marijuana space, including Cannabis Science, Inc.; Endocan Corporation; GW Pharmaceuticals and Medical Marijuana, Inc. Should medical marijuana continue to be embraced by states and federal governments, more players are likely to enter the market as growers, distributors and investors.
Follow me on Twitter @KarstenStrauss
Wiz Khalifa's Smokin' Hot Merchandise
1 of 12
Getty Images
+show more
Wiz Khalifa's High Earnings
For Wiz Khalifa, marijuana is more than just an illegal hobby—it’s an identity. He's transformed his affection for the plant into a moneymaking marketing tool, and in the process, turned himself into a lucrative lifestyle brand.
You've got to do your DD, the countries they'll ship to all are legal pretty sure US is not included since the will not be doing cash transactions however the Feds are meeting about US banks getting in with the states already legal med & recreational once that happens (my opinion) money trees fo real
You should buy (not a recommendation) or look for the next penny, but the constant back & forth lol
To funny so you think the mayor & other important people gonna let this just drag out?! Ha ha ha
You gotta be kidding oh no u r serious want dem shares
If it goes back to a penny I'll buy more much much more
Big Pic I think financials won't mean too much considering what their main business will be
Positive rev will reinforce belief
FITX
A lot of well respected business people use cell phones just like they used to use pay phones
So the mayor is in on the dilution as well? Too funny
That was HEMP, big difference.
That doesn't sound rt, post it
You should post u r facts
So you believe they'll dilute the stock in order to build after the press from
Forbes yahoo etc...... Standing with the mayor, and director of business development?!
I highly doubt that
Yes sir
Friend so far there nil holes to poke
I pretty sure some other financing will be arranged
In regard to the facilities needed
Once & lifetime for most people glad I'm in
Scottrade lame