Creative Edge Nutrition Inc. (OTCPINK: FITX) announced Apr. 11 that it has rescinded all agreements and terminated its relationship with GrowLife Inc. (OTCBB: PHOT).
This terse announcement comes only one day after the Security and Exchange Commission (SEC) suspended all trading of GrowLife shares from Apr. 10 through Apr. 24 because of its "concerns regarding the accuracy and adequacy of information in the marketplace and potentially manipulative transactions in Growlife’s common stock."
GrowLife, a holding company that supplies equipment for legal marijuana growers, said in a press release commenting on the suspension that the company had been not notified in advance of the suspension, but that it has contacted the SEC to better understand the basis of the complaint.
"We will fully comply with the SEC's requests for information, and continue business as normal during this temporary suspension," the company stated.
Even so, industry experts say it’s not guaranteed that trading will resume after the suspension period until broker-dealers have enough information about the company to make a market in its shares.
RXNB and CEN Biotech Also Cut Ties
Creative Edge is not the only marijuana company that is breaking ties with GrowLife. RXNB and CEN Biotech have also advised the CEO of GrowLife they are terminating any business agreements they had with the company.
On Apr.14, FITX shares closed at 6 cents unchanged from its closing price the previous day.
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Forbes Magazine Names Baristas Coffer Co. One of the Most Explosive Companies
In the beverage sector, Baristas Coffee Co. Inc. (OTCPINK: BCCI) shared volume soared Apr. 14, with 14,628,590 shares changing hands, more than three times its three-month average volume of 4,878,267 shares.
The sudden surge in volume is being fueled in part by the announcement that the Kent, Wash.-based company is being included in a special "Most Explosive Companies" list that will be in the April issue of Forbes Magazine.
The list which will be included in the April, 2014 issue covered by The Fundamentals Report highlights a select group of companies that are currently experiencing or are expected to experience explosive growth.
CEO Barry Henthorn stated: "The recent exposure that we have received has been very useful for a number of negotiations with prospective franchise partners, landlords, and new revenue stream opportunities."
Kicks Off National Advertising Campaign
Currently, Baristas is selling franchises in more than 50% of the country.
The marketing push entails various forms of media including local and national TV, radio, print, and digital. Some of the confirmed outlets are Forbes, WSJ, USA Today, NY Times, CNBC, All Business, Business News Journal, Entrepreneur, Business Insider and numerous business reference sites. All are committed and paid for and will begin running next week. The media campaign will utilize a portion of the 1.7 million dollar media funding that was received by Baristas late last year of which approximately 1.67 remains.
"The multi-tiered local and national media campaign is expected to continue to leverage the recent exposure that we have received and to inform prospects of the strength of our business model. We are solidifying other media campaigns that will focus on other aspects of our business while continuing to build our brand supporting our overall strategy," Baristas’ CEO Barry Henthorn said, in a written statement
On Apr. 14, BCCI’s share value closed at 14 cents, down 1 cent from the share price of 15 cents the previous day.
Minerco Resources Inc. Stock Value Continues Downward Trend
Meanwhile, Minerco Resources Inc. (OTCQB: MINE) volume was low Apr. 14, with only 54,747,894 changing hands, about half of its three-month average volume of 95,033,123 shares.
The Nashua, N.H.-based company stock share value has been on a downward trend, losing nearly a third of its value in less than a month.
Parent Company of Level 5
Minerco is the parent company of Level 5 Beverage Co., a specialty beverage company which develops, produces, markets and distributes a diversified portfolio of all-natural and highly functional brands.
The company has developed the LEVEL 5 and COFFEE BOOST brands and has acquired the exclusive worldwide rights to the VitaminFIZZ Brand. The products are currently available in Southern California and Arizona and online at Amazon.com.
While there has been no breaking news or press releases regarding the company of late, industry experts speculate that perhaps its COFFEE BOOST brands have been gaining some traction online, which would explain its sudden uptick in stock volume.
On Apr. 14, MINE’s share price closed at 0.0123 cents, down 0.004 cents from its close of 0.0163 cents the previous day.
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