Creative Edge Nutrition, Inc. (OTCPINK: FITX) saw its share volume remain steady on May 16th with 55,908,564 shares exchanging hands, marginally lower than its three month average daily volume of 57,563,627 shares.
Creative Edge Nutrition announced just last week that its subsidiary Biotech Inc. purchased a 25 acre site in Lakeshore, Ontario. They have applied for the license to grow and sell marijuana and will be applying for the license to grow hemp on the site and conduct hemp trials.
"We purchased the site with the intentions of operating a research and development facility with respect to strain genetics, new grow techniques and bio-medical research," commented Bill Chaaban, President & CEO. "It has been our intention to not only grow and sell medical marijuana, but to be leaders in the forefront of medical marijuana research; In particular, to further identify treatment modalities for specific disease states based on strain selection. We intend to develop and own the intellectual property."
FITX closed the day at $.0658 on May 16th, 7.32% lower than its previous close of $.071.
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Tranzbyte Corp To Change Name To AMERICAN GREEN
Tranzbyte Corp (OTCPINK: ERBB) saw its share volume slightly drop on May 16th with 88,136,224 share exchanging hands, lower than its three month daily average volume of 133,206,744 shares.
Tranzbyte recently announced it will change its corporate name to AMERICAN GREEN(TM). The name change should be effective sometime within the next several weeks and is subject to review by FINRA and The State of Nevada. Shareholders needn't do anything regarding the shares they own since the company's stock symbol, ERBB, will remain the same and there will be no restructuring of the company's share or management structure. The name, American Green, and the internet domain, americangreen.com, are registered and owned by the Company.
"Our name is changing to reflect the company's primary effort to maintain its leadership in the rapidly emerging Cannabis market. American Green has an opportunity to help guide both the growth and the narrative of this fast-expanding market, and to contribute to the education of the general public regarding the vast economic, medicinal, or adult-use benefits found in cannabis' many forms that are now available to Americans in over 20 states," says Tranzbyte COO Stephen Shearin.
ERBB closed at $.0229 on May 16th, 13.9% lower than its previous close of $.0266.
GrowLife, Inc. Releases First Quarter Financial Results
GrowLife, Inc. (OTCQB: PHOT) saw its share volume remain steady on May 16th with 20,136,990 shares exchanging hands, slightly lower than its three month average daily volume of 25,403,700.
Late last week, GrowLife reported its financials for Q1 ending on March 31st, 2014. GrowLife revenues for its first financial quarter of 2014 increased to $2,382,836, from $760,709 in the same period last year, an increase of $1,622,127 or 213% compared against revenues in Q1 2013. By the same measures, gross profit increased $270,752 comparing the respective quarters, or 108%.
"We are very pleased with the Q1 2014 financial results, as the revenue growth exceeded our internal goals for Q1," stated GrowLife CEO and Chairman Sterling Scott. "We continue to witness a strong revenue growth trajectory moving in the right direction, and GrowLife management will increase efforts on our gross and net margins company-wide, while maintaining relatively high growth rates. GrowLife remains dedicated to growth, increasing scale and continued expansion of company operations across all of our market sectors."
PHOT closed at $.095 on May 16th, 15.93% lower than its previous close of $.11.
Hemp, Inc. Purchases Line Of Decortication Equipment
Hemp, Inc. (OTCPINK: HEMP) saw its share volume continue its downward trend on May 16th with 9,935,706 shares exchanging hands, significantly lower than its three month daily average volume of 31,117,633 shares.
Hemp, Inc. announced that it has purchased a whole line of automated Temafa decortication equipment designed to separate the fiber from the core of the hemp plant through a process known as decortication. The Temafa decortication line of equipment, the only one of its kind in the United States, purchased by Hemp, Inc. will now enable the company to process raw hemp for American farmers into two valuable base products (fiber and hurd) that can both yield hundreds of products.
"This purchase of decortication equipment was a critical step in order for Hemp, Inc. to help Americans transition from non-sustainable synthetic solutions to a hemp-based green solution. We are very excited at what we'll be able to achieve once our manufacturing facility ramps its hemp production volume up over the next few years," said Perlowin, CEO of Hemp, Inc. (HEMP).
HEMP closed at $.0532 on May 16th, 6.83% lower than its previous close of $.0571.
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