Creative Edge Nutrition Inc (OTCMKTS:FITX) Looking To Rebound

Creative Edge Nutrition Inc (OTCMKTS:FITX) has been on a downward slope for some time. Questions over insider stock sales, Health Canada rejecting CEN Biotech's planned 58,000 sq. ft. building in Lakeshore, Ontario, Canada to grow pot and make the property the largest, most advanced medical marijuana grow facility on earth, and a slew on negative articles by short sellers have really taken a toll on its stock price. However, things are starting to look up for the company now that its energy drinks are set to take off and FITX is spinning off CEN Biotech. Plus the company is now in the hands of CEO James Robinson and we're looking for a rebound in FITX.Shareholders of FITX, as of the close of business on November 30, 2015 will receive 1 share of CEN Biotech, Inc. common stock for every 700 common shares of FITX owned on the record date of November 30, 2015. The total shares of CEN will be 7,000,000 which is comprised of 6,900,000 common shares and 100,000 preferred shares. CEN is currently planning to have its shares traded on the OTC Markets QB.In December, CEN Biotech made a tactical legal decision unilaterally requesting an adjournment of the Judicial Review examinations because of the Canadian government's intention of a federal-provincial-territorial process that will lead to the legalization and regulation of marijuana. The requested adjournment of the pending Judicial Review case is essentially an extension of time for the depositions of CEN and government officials until early March of 2016.

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CEN Biotech is involved in the prospective medical marijuana business and is attempting to obtain the necessary license and approval under the Marijuana for Medical Purposes Regulations in Canada. CEN has completed the construction of its production facility, and is prepared to immediately begin production of medical marijuana once all licenses and approvals are obtained.In November, subsidiary GIDDY UP ENERGY PRODUCTS INC entered into a Definitive Contract Manufacturing Agreement with the Dr Pepper/Snapple Group for manufacturing of the GIDDY UP ENERGY PRODUCTS line of beverages. Dr Pepper Snapple Group under the its manufacturing company, The American Bottling Company, Inc., will produce and bottled flavored carbonated and non-carbonated beverage products under the Giddy Up trade names and trade mark.In December, GIDDY UP Energy Products signed a contract with DSW Distribution Center for warehousing, packaging and distribution fulfillment for its food and beverage products throughout the USA. DSW is a 42 year old family-owned food-grade and multi-temperature controlled 3rd party logistic company specializing in perishable food products, beverages, organics, pharmaceuticals and general commodities.GIDDY UP beverages come in various flavors. Among these are Cherry Pear, Blueberry Lemonade, Strawberry Kiwi, Peach Mango, Apple Berry, and Orange Pineapple. When the GIDDY UP line was announced, CEO James Robinson said:

"We have made significant progress towards the launch of this breakthrough energy drink to the market. Formulations have been completed for all six product flavors in both sugar and sugar free. The Company has developed the formulations for the twelve products and ordered the Fruit flavoring for our first production run of approximately 200,000 cans to meet early market demand for GIDDY UP. In parallel, we are currently working on our 24 pack master case & four pack packaging design six color process. Our supply chain partners have all been selected to meet what is expected to be a massive market demand following initial product launch. We will continue to keep you informed of the progress and formal product availability dates. Thank you for your positive emails and interest in our energy products. Stay tuned to our new website for future updates."

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Currently trading with a market cap of $19 million, FITX has been able to captivate investors in the past with its story. However, the company failed to deliver on almost all of its promises. Investors are now hoping that FITX has turned a corner and new CEO James Robinson can deliver with the GIDDY UP line of energy drinks. The deal with Dr Pepper Snapple is certainly a step in the right direction. Furthermore, the spinoff of CEN Biotech will hopefully unlock shareholder value. With the stock having been beaten up so much by the shorts, we think a rebound is due. Sign up to Insider Financial and stay on top of the latest developments from FITX. We will be updating our subscribers as soon as we know more on FITX.

Disclosure: We have no position in FITX either long or short. We have not been compensated for this article.