Healthier Choices Mgmt Corp (HCMC)

[vapork]

"Vaporin management’s financial forecast model contemplates opening 55 retail stores in 2015. As there are no earnings metrics within the universe of companies near to Vaporin’s size or stage, we used the industry average price to earnings ratio for the well-established players. This yields a 2015 price of? $9.02 per share. The limitation in this model is that the probability of achieving the revenue and earnings forecast is less than 100% the number of stores opening on a roll-out basis will be governed to a large degree by the ability of Vaporin to secure $10MM in funding at the beginning of 2015. We reviewed various revenue scenarios and determined a “most likely” scenario, to which we imputed a 50% discount to the price target as a result. This then reduced the stand-alone Vaporin forecasted $9.02 per share to $4.51 per share. Applying an industry P/E multiple of 22X resulted in an implied value of? $21,454,070."


they did end up getting the 10mm to open 4 more The Vape Store locations as I alluded to earlier this morning. I assume the 21,454,070 is a fixed value for VAPO shareholders?