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Electronic Cigarettes International Group Ltd. (ECIGQ)

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                                                                                    Electronic Cigarettes International Group, Ltd.



History                                                                                                                

2014

1. Victory ECIGs pursues multiple Acquisitions with convertible debt, Uplist to NASDAQ to raise funds to pay off acquisition                                          

2. Uplist fails because brands weren’t strong/ecig overpaid for the acquisitions
3. Default on debt simultaneous to out of date products not selling/being expensed as obsolete
4. Toxic debt converts/shorting drives price per share into the floor

2015

1. Old leadership out, new leadership in promising to fix balance sheet
2. 15 for 1 RS, maintain 300 million AS
3. New financing pays off and restructures old debt – no longer toxic
4. Maintained major distribution partnership with Mansour
5. Q1 and Q2 2015 focused on restructuring balance sheet, cutting costs, merging the acquired companies together, and establishing a strategy moving forward
6. Q2 2015 conference call confirms goals for first half of year were accomplished and we have a new strategy moving forward

Opportunity Summary: ECIG is a major turnaround prospect since the addition of new key personnel and the successful implementation of major financial and operational restructing during the first half of 2015. Low market cap, high debt, and large revenue potential creates high risk, high reward opportunity. Recent developments show progress in key strategic areas and give cause for optimism. 

Corporate Website

 

People

 DAN O’NEILL - CHIEF EXECUTIVE OFFICER: Started April, 2015
 
 Dan O’Neill brings a wealth of global experience as a senior leader in consumer packaged goods to the newly created role at ECIG. Throughout his career he  has led  transformational growth and delivered superior financial performance in a range of geographies and complex business environments. Prior to joining ECIG, Dan was the President and Chief Executive Officer of Molson’s, one of the world’s largest beer companies. Before Molson’s, Dan was the Executive Vice President of H.J. Heinz, a President at the Campbell Soup Company, and Group Managing Director at S.C. Johnson, with leadership roles in North America, Europe, and Latin America. Dan began his career at Colgate Palmolive, following earning a Master’s degree in Business from Queen’s University and a Bachelor’s of Arts from Carleton University in Canada.
 
Bloomberg Profile Link
 
 
PHIL ANDERSON - CHIEF FINANCIAL OFFICER: Started January, 2015
 
Phil brings more than 20 years of experience in financial markets, with particular depth in balance sheet structuring and cash flow management. Prior to joining ECIG, Phil worked with the Pinnacle Family Office, a Dallas-based family office investment fund which is an investor in ECIG. At Pinnacle Fund, Phil oversaw investments in both public and private companies. Prior to joining Pinnacle Fund, Mr. Anderson was the director of research at Siar Capital, a family office specializing in micro- and small-cap public and private investments. Prior to his time spent with Siar Capital, Phil performed sell-side research at C.E. Unterberg and Ladenburg Thalmann. Mr. Anderson holds a Bachelor of Science from Ithaca College and a Masters of Business Administration from Hofstra University.

Bloomberg Profile Link
 

Other Q2 2015 Personnel Additions:


 GREG SMITH
 VP SALES 
27 years experience at SC Johnson as Director of Sales for major accounts such as Costco, Safeway, and Dollar General. According to CEO, these are accounts that ECIG is targeting. 
Experience also includes Customer Marketing Department working with cross functional groups to develop business plans across entire organization. Managed the following brands: Ziploc, Glade, Windex, Pledge, Scrubbing Bubbles, Drano, Shout, Raid, Off!, and more. 

LinkedIn Profile
 

 KEITH LUCAS
 DIRECTOR of INFORMATION TECHNOLOGY

Former Perdue Farms Director of IT. Perdue farms employees 10,000 people and has over $5 billion in revenue per year. Tasked with internal efficiencies and supporting online sales. IT and Operations executive with 20+ years of experience managing IT teams, providing vision, expertise and leadership for various industries, including Real Estate, Finance, Gas & Oil, Manufacturing and other enterprises. Effectively transformed IT and Operations departments, built teams and state-of-the-art facilities and IT environments for large and small organizations.

LinkedIn Profile


JOHN RIDLER
VP ACCOUNTING

Gets credit for financial earning timely filing and cleanup. Tasked with improving cash flow management

JIM DORAN
CONSULTANT FOR FINANCE & ACCOUNTING

Tasked with improving cash flow management and timely/accurate financial and accounting management

UNNAMED CONSULTANT
EX-BOSTON CONSULTING GROUP PROFESSIONAL

Tasked with "leading a review of the US market and bringing an analytical approach to the business, as well as strategic category learning." 
 

Products

Approximately $50 million annual revenue from VIP, Vapestick, and FIN brands ** FUNDAMENTALS SHOULD TAKE HOLD AS TURNAROUND GETS NOTICED

Websites:
http://www.vapestick.co.uk
http://www.vipelectroniccigarette.co.uk
http://www.fincigs.com
http://www.finvaping.com/
http://www.ecig.co

First VIP Kiosk in USA opened in January 2016.

  
VIP Kiosk at the FlatIron Crossing Mall (Photo: Business Wire)
 
 
 
 

 

USA Stores which carry ECIG's FIN Brand include:

WALMART     WALGREENS
RITE AID      CHEVRON
MURPHY'S    PILOT FLYING J
CIRCLE-K     SEVEN-ELEVEN
SUNOCO      SAM'S CLUB
SHELL         AM/PM


UK Retailers Include:

HARROD'S    TESCO
COSTCO        WH SMITH
SHELL           LONDIS
BUDGENS     BARGAIN BOOZE


Over 100 kiosks throughout the UK and Ireland sell the VIP brand. During Q2 added additional kiosks in Spain and Nigeria. 

 

Process (Strategy)

* 6 pillars for the short term strategy moving forward have been determined as of Q2 2015 and are as follows:

1. E
stablish VIP as an international premium brand
2. Utilize FIN and Vapestick as traditional, mainstream retail brands
3. Expand into non-traditional channels
4. Strengthen organization talent pool
5. Be a low-cost provider

6. Improve working capital



New CEO Mission: "To deliver profitable growth to enhance shareholder value"
Differentiating approach: To target sales channels, not specific countries


Key quotes from Q2 2015 conference call:

1. "I have realized several of you are very disappointed I have not spoken sooner or flooded the market with all sorts of press releases. Very simply I was not ready and the company was not ready. I wanted to have visited and spoken personally to all our constituents, whether it be our suppliers, the management teams of each company, our customers and from these conversations and work sessions pull together in overall strategy that would successful guide the company to become the most profitable independent electronic cigarette company in the world, delivering profitable growth to enhance shareholder value." - Dan O'Neill, CEO

2. "In closing, I would like to advise everyone that conference calls and press releases will focus and be directed toward the six key strategic drivers. In some quarters, there will be advances in one area, while in the next quarter the focus may switch to another driver; but the goal will never alter to deliver profitable growth to enhance shareholder value...
I think the key focus from here on in, apart from the (quarterly) calls, will be strategic announcements. And if you see an announcement, just refer to those six pillars, the drivers and you will see how we are focused in that area." - Dan O'Neill, CEO 


 

 
Share Structure

 

Outstanding Shares (OS): 75,311,764 (as of May 11, 2016)
Authorized Shares   (AS): 300,000,000

AS OF 6/30/2015
Warrants: 285,953,833
Stock Options for Employees: 30,796,317
Fixed price Convertible Debt Shares: 37,682,111

"As of June 30, 2015, the Company has 300,000,000 common shares authorized of which 70,482,486 were issued and outstanding. The Company would need approximately 330,000,000 common shares to accommodate the exercise and conversion of all of the common stock options, warrants, convertible debt, and unvested restricted stock presently outstanding, and would not be able to accommodate all such exercise and conversion requests through the remaining unissued common shares. Accordingly, the Company could be required to settle a portion of its warrants and derivative liabilities in cash which requires that they continue to be classified as liabilities rather than equity instruments."



Benefical ownership (as of December 31, 2015)

 Number of
 Name of Beneficial Owner Position with Company Shares (1) Percentage (2)


 Shareholders Owning 5% or Greater:
 Man FinCo Limited Shareholder 23,692,257 (3) 30.01 %

 Directors and Executive Officers:
 Daniel J. O'Neill Chief Executive Officer and Chairman of Board 19,844,526 (4) 20.83 %
 James P. Geiskopf Director 542,857 (5) *
 Craig Colmar Director 322,857 (6) *
 David Karp Director 322,857 (7) *
 Philip Anderson Chief Financial Officer, Secretary and Treasurer 2,484,458 (8) 3.20 %

 All Directors and Executive Officers as a Group (5 Persons) 23,517,555 23.91 %

 

ECIG Market

The electronic cigarette industry is one of the fastest growing consumer goods categories worldwide. The category is only a few years old, but already exceeds $1 Billion dollars in sales with the largest market for electronic cigarettes being the United States.  99% of all e-cig consumers are cigarette smokers in search of a healthier alternative, or looking to be able to smoke in places where traditional cigarettes are not allowed. This is particularly attractive for the electronic cigarette segment as the tobacco market is $720 Billion in size, which provides a tremendous source of growth for electronic cigarettes.  The e-cig segment is still in the very formative stages, both in terms of product and market structure. The category is less than five years old and has been essentially doubling every year since inception. Importantly, less than 10% of all smokers have ever tried an e-cig, so over 90% of the opportunity is still in front of the industry. As a result, leading industry analysts predict that e-cigs will achieve from 15% to over 50% share of the broader tobacco market in the next decade.  Given the size of the tobacco Industry, this equates to a size of segment of e-cigs of between $110 Billion and $360 Billion over the next ten years.

Bonnie Herzog, from Wells Fargo Securities and one of the leading industry analysts predicts sales topping $10 billion by 2017. “The long-term growth trajectory of the category will be robust.  Use of electronic cigarettes could overtake consumption of traditional cigarettes within 10 years.” While difficult to predict, we think it is possible that consumption of e-cigarettes could outpace traditional cigarettes over the next decade, especially given the rapid pace of innovation and consumers' demand for reduced harm products," Herzog said.
 
Goldman Sachs’ Judy Hong describes e-cigarettes as basically all the good stuff about regular cigarettes but none of the bad, and Goldman has listed e-cigarettes as their number one extraordinary technology forcing businesses to adapt or die. "Imagine a product that is possibly >99% less harmful than cigarettes, delivers a similar user experience and offers a better economic bargain—this is the proposition of electronic cigarettes (e-cigs)."


 


 

smiley
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ECIGQ
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Bid Ask Day's Range
ECIG News: Current Report Filing (8-k) 03/16/2017 04:53:32 PM
ECIG News: Amended Statement of Beneficial Ownership (sc 13d/a) 03/07/2017 03:49:51 PM
ECIG News: Current Report Filing (8-k) 03/07/2017 07:50:41 AM
ECIG News: Amended Statement of Beneficial Ownership (sc 13d/a) 02/02/2017 04:18:47 PM
ECIG News: Statement of Changes in Beneficial Ownership (4) 02/02/2017 04:16:33 PM
PostSubject
#86103  Sticky Note Electronic Cigarettes International Group Announces Its UK Subsidiary HighPeaks 03/07/17 07:18:30 PM
#84642  Sticky Note Q2 Conference Call Transcript 8/11/16 trding 08/11/16 11:04:41 PM
#84169  Sticky Note They could just raise the AS to 500M SeanBoy 07/15/16 03:52:12 PM
#86972   It can't, chapter 7 eliminates that possibility, commons Full Contact Yoga 05/24/17 09:00:18 AM
#86971   Anybody think the ticker (ECIG) will be bought yeag1717 05/23/17 06:20:20 PM
#86970   Just checked in after being out of this Phin 05/14/17 10:56:39 AM
#86969   No CUIN2 05/10/17 07:04:41 AM
#86968   He's been discussed quite a bit, his lifetime Full Contact Yoga 05/02/17 01:03:35 PM
#86967   Has anyone looked up this calm waters richard kcarleson 05/01/17 11:03:00 PM
#86966   Anyone have any bites with attorney ? I Hill79 05/01/17 02:33:57 PM
#86964   BK, no one coming out on top, except Full Contact Yoga 04/30/17 02:09:28 PM
#86963   It seems the owners and lenders are loading xxassaultxx 04/26/17 12:51:30 PM
#86962   No. This company is BK. CUIN2 04/25/17 07:31:51 PM
#86961   Is it just me or does it seem sigelei23 04/25/17 12:40:31 PM
#86960   The trustee exists to satisfy creditors, common shareholders Full Contact Yoga 04/18/17 10:00:03 AM
#86959   Aren't the FEDERAL workers paid by US? Why xxassaultxx 04/17/17 06:28:00 AM
#86958   Another response: I can’t give you legal advice. CUIN2 04/16/17 02:51:53 PM
#86957   My response: Understood, but they can be held liable CUIN2 04/16/17 10:10:28 AM
#86956   Received this morning: Mr. Xxxxxx The 341 Meeting (Meeting of CUIN2 04/16/17 10:09:46 AM
#86955   thank you for all the effort you have yeag1717 04/15/17 04:51:53 PM
#86954   Nope....NYC. Assume you're asking in regards to rubadubdub 04/15/17 03:59:02 PM
#86953   Is the perspective attorney in Las Vegas? Vapor5150 04/15/17 02:32:33 PM
#86952   Thanks. Makes sense as we have already CUIN2 04/15/17 02:06:58 PM
#86951   Most current update....I have asked prospective law firm rubadubdub 04/15/17 12:55:02 PM
#86950   Also share with perspective attorney that we suspect Vapor5150 04/14/17 04:06:50 PM
#86949   https://investorshub.advfn.com/uimage/uploads/2017/4/11/kyoja4.jpg Vapor5150 04/13/17 07:24:36 PM
#86948   Favor please....could you save me a little time rubadubdub 04/13/17 07:09:44 PM
#86947   Just trying to find out if I can MIKALJAMES 04/13/17 05:20:29 PM
#86946   I was told by Mr. Larsen that Dan Vapor5150 04/13/17 02:23:09 PM
#86945   Can you share the nature of your inquiry? rubadubdub 04/12/17 10:39:11 PM
#86944   It makes sense...they serve the US and the MIKALJAMES 04/12/17 10:35:43 PM
#86943   Are you reasonably certain that the Lockton group rubadubdub 04/12/17 10:34:15 PM
#86942   I'm not sure how to proceed without counsel MIKALJAMES 04/12/17 10:25:57 PM
#86941   We are all interested in that information Sir. CUIN2 04/12/17 08:55:20 PM
#86940   Mr. Mooney911-- rubadubdub 04/12/17 08:54:12 PM
#86939   BK. Done. CUIN2 04/12/17 06:07:37 PM
#86938   What will be the outcome of ECIG?? Freaky ty 04/12/17 03:09:37 PM
#86937   Actually what I was trying to find out rubadubdub 04/11/17 10:28:53 PM
#86936   Troll the ticker much after you got hosed Vapor5150 04/11/17 10:20:12 PM
#86935   Actually it was $15mil not $35mil. My error. Vapor5150 04/11/17 09:35:59 PM
#86934   It is my understanding that MHL was 100% Vapor5150 04/11/17 09:34:42 PM
#86933   Do you folks actually expect to get something Honeycomb777 04/11/17 09:33:41 PM
#86932   Dick and Dan have deepest pockets here outside Vapor5150 04/11/17 09:29:47 PM
#86931   Nicely done....so, do you think there is more rubadubdub 04/11/17 08:56:20 PM
#86930   I think we found it. Vapor5150 04/11/17 08:28:58 PM
#86929   This co is listed...don't see the others: In the MIKALJAMES 04/11/17 07:59:45 PM
#86928   I will look! MIKALJAMES 04/11/17 07:38:42 PM
#86927   I just spoke with ECIGs BK Attorney Mr. Vapor5150 04/11/17 07:36:55 PM
#86926   Calm Waters Attorney: MIKALJAMES 04/11/17 07:21:22 PM
#86925   Interesting Dan O Neil is listed on here, Vapor5150 04/11/17 07:07:14 PM
#86924   I've been holding off asking prospective counsel about rubadubdub 04/11/17 06:06:28 PM
#86923   So how much will initiating an action and CUIN2 04/11/17 04:54:48 PM
#86922   From: "Antonia Darling (USTP)" <Antonia.Darling@usdoj.gov> MIKALJAMES 04/11/17 04:36:32 PM
PostSubject