Creative Edge Nutrition Inc (FITX)

[AlchemistBen]

Notes from somebody who actually attended shareholder meeting


I will start off by saying that listening to the audio recording of the open house does not offer a decent perspective on the atmosphere of the room that night. The recording is very scratchy and muffled. I have a much better version I will upload soon.
Here are some points of note from the evening.

The parking lot was jam packed. I had to park out on the street nearly off the property line. There were attendees from all across the country at the meeting. I notices license plates from Michigan, Ontario, Ohio, Indiana, Kentucky and Florida to name a few.

Inside the building was standing room only once the meeting began. I was able to sit in the first row of the balcony, dead center. Bill and crew took note of me very early on as I was taking diligent notes and recording everything.

The team they had on staff had an incredible range of industry experiences. Introduced were a career Canadian police officer, a retired US Secret Service and DEA agent, Bill Chabaan and his cousin who owns the property, Sam Alaweih PharmD, a farmer in Ontario who is also a lawyer, and several more.

Sam Alaweih talked the most. Honestly, he talked so god damn slow and philosophically I phased him out when he got off track. Two things were apparent, Sam is an incredibly intelligent and cerebral man, and he believes in the mission of FITX. Sam is a pharmacist, and I believe he will have an integral role in strain development. Sam spoke about the importance of educating physicians and patients on the benefits and intended purpose of each strain and how they intend to grow the brand. Sam said one thing that is important to note. The mantra of the company as he sees it is, "persistence, ingenuity and integrity". The team mentioned integrity frequently during the presentation.


Bill was the best speaker, you could tell it hurts for him to have to repeatedly answer the same questions over and over about PHOT and financing and such. In addition, he referenced a gag order which prevents him from sharing specific details about security of the site and workflow process management. He was clear in stating that they have every detail of the cultivation of plants down to an exact formula from seed to shipment. He was my favorite to hear speak. He was concise, passionate, and honest.


Something of note is that Bill again stated that FITX has NO PLANS TO CHANGE THE NUMBER OF O/S. This drove one woman in attendance crazy during the Q and A because she didn't know how a stock market works and was insistent that there are some secret, undiscovered shares up their sleeve. She was annoying, and got the Q and A off on a bad foot. It quickly recovered.


Bill stressed the importance of transparency to him in this business. Not only because of the nature of the business, but because of the stocks OTC status. He did not want any confusion about his company's status or intentions. FITX DOES PLAN TO UP-LIST TO THE NASDAQ AS EARLY AS MAY. They have already been in talks with the SEC in order to do so.


FITX plans to develop clear and regular reporting cycles for the shareholders in order to maintain transparency.


FITX does plan to enter the European market as soon as possible. As it has been pointed out, they could move a massive amount of product to the European market at a huge profit.


While Bill stated it was "Not relevant to this discussion" when asked about recreational bud in the states, he also said CEN Biotech will be able and prepared to "Dominate the market" when it happens. CEN Biotech is using their war chest to hire lobbyists in Michigan and Washington DC. I do not believe it is entirely unreasonable to expect to see their product within the states within a couple years. I have no reason to believe that states approving recreational use would have any issue with importing their product.


According to Sam Alaweih, the pharmacist, they intend to grow their brand through a multiple aspect approach including pt advocate utilization, physician education, and face to face meetings with doctors. He may have eluded to an online educational platform, but again, the guy began every sentence with a metaphor and ended it with an allegory.


The Q and A section was interesting. Questions ranged from basic misunderstandings of the stock market to hard hitting questions about the PHOT deal. The guy asking about PHOT asked if the 25% was in perpetuity, to which Bill responded that it was, and their other avenues for financing were not viable. Two things of note here. An oil and gas company offered funding to CEN Biotech. Also, Big Tobacco offered Bill financing for 60% of CEN Biotech. To those who say big tobacco will take over the business, they may have missed their chance with that by offering Bill such a shitty deal. The PHOT question guy was sitting right next to me. He has no idea about the difficulties companies in this sector face trying to raise funds. He was legitimately pissed that he hadn't been able to finance CEN Biotech himself. Apparently before I showed up he had been telling people he's already bought a condo with his profits from FITX.


The one question which seemed most important to me was the very last question asked of the entire evening, "Bill, specifically why are you so confident you will receive the license from Health Canada?" one brave young soul asked. One fellow shareholder was kind enough to answer him, "Because they called him asking for pot...". Bill was quick to add that the phone call lasted 45 minutes, and the Director of Health Canada was informed of every aspect of their business and insisted that they continue building, and hurry up with it.


I will let everybody here know, I was blown away at the meeting. I was expecting a shanty with some free shitty coffee and folding chairs. Instead I was greeted by two younger attractive people, one to direct me into the meeting, and another to offer me a drink. Inside the meeting room(old movie theater I'd bet) there was a table of delicious horderves including shrimp cocktail and a variety of cake and sweets. I tried it all, you know, for science. It was amazing.


I've decided to triple my position in FITX because of what I saw Friday. Several other investors in my network intend to buy in tomorrow and hold long. I will be doing the same, for full disclosure.


I can't but help at this point picturing myself in a couple years sitting on a boat staring out at the water with a scotch in hand answering the question, "How'd you make your first million?"

Me: "I got in early on CEN Biotech"


tl;dr: I was blown away at the shareholder meeting. I'm tripling down tomorrow and going long on FITX. They intend to up-list to the Nasdaq, do not intend to dilute the shares or do an RS. If there is a team of people who can accomplish all the crazy things FITX has claimed it intends to do, they've assembled the right team for the job.

FITX