Creative Edge Nutrition, Inc., Shareholder Update
MADISON HEIGHTS, Mich., Feb. 5, 2013 /PRNewswire/ -- Creative Edge Nutrition, Inc. (OTCPINK: FITX), a nutritional supplement company focusing on active lifestyles is pleased to update its shareholders on the current status of the company and continuing efforts to grow into a profitable company providing increased shareholder value along with our just released product launch of the Metabolic Xtreme, and Alpha drive. We are pleased to announce that our Metabolic Xtreme and Alpha drive are available for sale to the general public and can be purchased online at www.supplementstogo.com, www.a-z-nutrition.com, www.fitnessone.com, www.worldclassnutrition.com.
Since my last letter there have been a number of developments in your company which I wish to update you on. These developments are the groundwork necessary for the executing of new retail contracts with some of the largest supplement retail companies in the United States and Canada. There is a very detailed process of our products being accepted for retail sale and we wanted to make sure that our label claims have merit as we have re-formulated ingredients for our Metabolic Xtreme, Hyperfusion, Aminoplex, and Alpha drive products. These will be among the first products of the Cenergy line that we launch.
Since I was appointed as CEO of the Company on April 6, 2012, our Board of Directors had a clear vision and strategy in mind: build a vertically integrated nutrition company that can conceptualize, create and sell direct to the consumer and for Store Only Brands while leveraging strategic distribution partners globally. We had to reorganize and streamline the order fulfillment company in order to prepare Creative Edge Nutrition, Inc. to handle the anticipated increased volume. Jeff Thomas, VP of Sales has been integral in this area and will continue to spend time more in our Arizona sales, SEO and fulfillment center, to manage this process.
Although we secured Purchase Order financing and have issued our first financed Purchase Order to one of our distributors, we have also secured credit risk financing from Coface Insurance, the world's leader in credit risk and trade financing risk. We are producing products for our Australia, Canada and European distributors and Coface assures us of the credit worthiness of our partners. They have issued an insurance contract valued at $1.65M for some of the credit worthy U.S. vendors.
We have valued banking relationships with credit line, purchase financing, and operating facility of over $2.75M dollars across our business interest, and we have continued to service these lines contractually. We are looking to consolidate these banking relationships with one or two major banks in the U.S., who have already opened merchant and corporate banking accounts to handle our increased volume of business.
The financial engineering, credit and trade insurance program, product repackaging, redesign and relabeling, as well as fulfillment center reorganization are all critical components that were needed to engage the right banking relationship, and execute the right contract with the U.S., leading supplement retailers.
We want to ensure you, our shareholders, that the process is continuing in all facets of the company to create increase shareholder value and grow the brand into a profitable and sustainable company. We are patient, but strategic and methodical in our negotiations with banks, vendors, distributors and retail customers. We will be making additional announcements regarding sales, and contract executions once legal has signed off on the content. Our company will continue to grow its presence and operate at the highest level of integrity in our products, the market, and to you, our shareholders. We will leverage our acquisitions and strategic partners to enable continued organic and inorganic growth to support our goal of creating long-term shareholder value.
President & CEO
About Coface www.coface.com
Coface, created in 1946, has developed the credit insurance offer into a full international coverage. Its network is built on its own local entities throughout the world and its Credit Alliance partners. The Coface Group is a trade risk expert and a worldwide leader in credit insurance. The Group offers credit insurance solutions that aim to protect businesses against the risk of financial default by their customers. with more than 4,600 employees and in 97 countries.
About Creative Edge Nutrition, Inc. www.CenergyNutrition.com
Creative Edge Nutrition is a holding company and a Nutritional Supplement Company focused on developing innovative, high quality supplements. The company offers a broad spectrum of capsules, tablets, and powders, as well as science based products in the principal categories of weight management, nutrition challenges, energy and fitness. The Company manufactures under strict GMP guidelines at GMP Certified and/or FDA registered facilities. www.CenergyNutrition.com and http://www.facebook.com/pages/Creative-Edge-Nutrition-Inc/115224738609211.
Supplementstogo.com is one of the leading online retailers in the market today for discount supplements! Always focusing on the hottest products and what provides the best results for their customers, Supplements To Go has made a great name for themselves in the world of nutrition. To find out more about SupplementsToGo.com, please view the site www.supplementstogo.com.
A-Z-Nutrition.com is one of the best known e-tailers of discount nutritional supplements. Providing its customers over a decade of quality products at the best prices around, A-Z-Nutrition supports its customers with a portal that is easy to use and to the point. To find out more about them, please view their site www.a-z-nutrition.com.
World Class Nutrition – Founded in 1999, early in the internet age of web based super stores, World Class Nutrition is a successful nutritional supplement/fitness equipment retailer due to providing their loyal customers top level support and great prices on their favorite supplement brands.
Chesapeake Nutraceuticals provides premium grade supplements to aging Americans. Consumers can count on them for bringing the latest scientific findings in the supplement world to market as their entire line is Doctor Formulated in conjunction with the latest research from elite U.S. and International Medical Institutions. To find out more about them, please view their site www.chesapeakenutraceuticals.com.
Safe Harbor Notice
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
Contact: Jeff Thomas (313) 655-1669 Email: Info@cenergynutrition.com
SOURCE Creative Edge Nutrition, Inc.