News that the Lakewood Town Council and some residents of the Ontario municipality are strongly opposing the operation of Creative Edge Nutrition Inc. (OTCPINK: FITX) in their town has prompted the medical marijuana company to lawyer up in an attempt to get its plans back on track.
On Oct. 2, Creative Edge announced that it has retained the leading Ukrainian National law firm Vasil Kisil & Partners as its Ukrainian corporate counsel. But whether this law firm are miracle workers remains to be seen. Some industry observers say the law firm has its work cut out for it.
The latest negative development in this major setback for the would-be medical marijuana facility was Creative Edge's admission in a Sept. 29 press release that the Town Council has already passed a resolution to issue a letter to "Health Canada asking it to hold off on issuing a license for our facility."
If Health Canada listens to the town's pleas, it could end up being a death blow to Create Edge's chances of ever being granted a license to sell medical marijuana in Canada.
Needs to be Resolved
While Creative Edge is crying foul and licking its wounds, some industry observers wonder how its top executives didn't see this citizen revolt coming - and why they didn't have a plan B in place, in case it did.
It should come as no surprise that some residents of small and medium-sized towns still believe that any kind of marijuana business carries a stigma that might hurt its reputation. In fact, it is common for any kind of development -even shopping malls -- to meet stiff resistance from those who live in the proximity where the new project is being proposed.
Meanwhile, on Oct. 10, FITX's share price continues to fall, closing at 4 cents, unchanged from the previous day's close, on a volume of 5.3 million shares.
Find out what could be the best investor's move when it comes to FITX by getting the complete report here or by cutting and pasting the following link in your Web browser:
Adaptive Medias Inc.'s Stock and Share Value Soar
Adaptive Medias Inc.'s (OTCQB: ADTM) stock volume continued to surge Oct. 10, with 79,645 shares changing hands, nearly twice its 30-day average volume of 31,085.
Its share price also soared, with ADTM's share price closing at $5.29, up 75 cent, or 16.52%, from its closing price of the previous day of $4.54.
The volume and share value uptick are being fueled in part by a barrage of good news being churned out by the Irvine, Calif. ad technology company.
Launches New Product
For example, the company recently launched its new Media Graph platform. Media Graph is the company's flagship product offering, providing publishers, producers, and advertisers the ability to easily and effectively monetize digital video content across all screens and devices through one centralized solution.
Media Graph provides four major benefits to marketers who have historically faced the same challenges in setting up, scaling and optimizing their video campaigns: 1) easy content ingestion and campaign setup; 2) less reliance on multiple vendors; 3) robust ad serving and cross-screen capabilities; and 4) real-time campaign management.
Second Quarter Financials
Moreover, Adaptive Media's financials for the second quarter whiile not great, were better than many comparable penny stock companies.
Here's a summary:
- Cash on hand: $147, 000
- Net Loss: $1.9 million
- Current Assets: $1.8 million
- Current Liabilities: $2.4 million
- Revenue: $1.1 million
- Net Loss: $1.9 million
Find out what could be the best investor's move when it comes to ADTM by getting the complete report here or by cutting and pasting the following link in your Web browser:
Medical Marijuana Inc.'s Stock Volume and Value Flat
On Oct10, Medical Marijuana Inc.'s (OTCPINK: MJNA) share price closed at 11 cents, unchanged from its closing price the previous day,
The San Diego, medical marijuana company's volume was also flat, with 2.3 million shares changing hands, substantially lower than its 30-day average volume of 39 million shares.
The company has not made any news lately, yet its share value, along with many other marijuana stocks, has been on a downward trend for months. In Medical Marijuana's case, its shares have lost almost half of their value since June.
Some industry observers say this is due in part to the fact that the marijuana mecca that was supposed to be born from the wholesale legalization of cannabis has yet to materialize. On the contrary, in some states the push for the legalization of weed has actually stiffened opposition.
As a result, the initial investors enthusiasm for marijuana stocks has wilted.
Find out what could be the best investor’s move when it comes to PSID by getting the complete report here or by cutting and pasting the following link in your Web browser:
Genufood Energy Enzymes Corp.'s Shares Up 83% on Strong Volume
On Oct. 10, Genufood Energy Enzymes Corp. (OTCPink: GFOO) stock volume shot through the roof, with 45 million shares changing hands, more than 5 times its 30-day average volume of 8.7 million shares.
In addition, GFOO's share price closed at 0.0055 cents, up 0.0025 cents, or 83.33%, from its close of 0.003 cents the previous day.
But before we get to excited, it's important to note that its share price is a faction of a penny.
What's behind this sudden surge is anybody's guess because the Houston-based company developing enzyme dietary supplements for animals and humans hasn't issued any press releases since May 18. It has also not been in any new reports.
However, we do know from its last SEC 10-Q filing that it has burned through more than $4 million during its developmental stage, so far.
Find out what could be the best investor's move when it comes to GFOO by getting the complete report here or by cutting and pasting the following link in your Web browser:
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