FITX Has Been Creative With Recent Board Appointments
May 12th, 2014
Government involvement in the cannabis sector is inevitable. Many canna-businesses trade on the OTC marketplace, so full SEC disclosure is not required.
Along with rampant underreporting, the erratic nature and volatility of the sector has triggered the halting of trading for many stocks. Many companies in the space are also developing marijuana based pharmaceuticals, which almost guarantees required FDA testing and approval in the future. How can a company please the feds? Hire people that have worked with them.
Since early April, Creative Edge Nutrition [stockquote symbol=”FITX”] has been quite active (and creative) in appointing new members to their board. Since April 17, FITX has strategically appointed three new members that have the potential to make an immediate and long-term impact on the business.
John A. Germinario was appointed as the Chairman of the Board. Germinario is the CEO of Global Securities Services , and has worked extensively as a fraud examiner with the SEC and the IRS. His experience working with the SEC could go a long way in avoiding the fate of companies like Advanced Cannabis Solutions [stockquote symbol=”CANN”] and Growlife [stockquote symbol=”PHOT”].
One week later, on April 23, the company announced that Dr. David L. Felten M.D., Ph.D. would be joining the board as their Chief Medical Director. According to the press release announcing his unanimous appointment, Felten has known the new chairman, Germinario, for almost 15 years.
Felten is a well-respected doctor with over 200 peer-reviewed publications and reviews. Felten is also serving on various medical research boards around the world. He has served on the National Board of Medical Examiners for many years, and has helped prepare questions for the U.S. Medical Licensure Examinations. With the combination of Felten and Chief Pharmacology Officer Dr. Sam Alawieh, FITX will be ready when the FDA starts clinical trials on cannabis based pharmaceuticals.
The company announced on May 8 yet another board addition, this time coming from the financial space. Michael K. Clark is the CEO of MKC Capital Partners and has held executive positions at major firms, including Fidelity and JP Morgan. Due to the limited access to banking and capital, Clark’s experience in the financial space could prove beneficial in securing the company’s financial future.
It’s clear that building an experienced board of directors who are familiar with government is a goal of Creative Edge Nutrition, and CEO Bill Chaaban said that the company “continues to seek out world-class Directors to strengthen our executive management team.”
Since these appointments began, FITX has outperformed the Benzinga Marijuana Index.
To learn more about the expanding cannabis financial industry, check out the 420 Investor on Marketfy.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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