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.
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