Vape Holdings Inc. (fka VAPE)

[Norsman]

Due diligence on VAPEs new "network"

APPLEGATE WAY, LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1749127&p_srce=BR_INQ&p_print=FALSE
Owners: Joseph Andreae, Kyle Tracey, Jordan Scott. No VAPE ownership listed.
http://web.jacksoncounty.org/pdo/Ora_asmt_details.cfm?account=10886318&bTextOnly=False
- This is the building that “Applegate Way, LLC” owns. No VAPE ownership listed.

PORTLAND ORGANIC THERAPY
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1733153&p_srce=BR_INQ&p_print=FALSE
Owners: No real “owners” listed for this one. Mutual benefit non-profit.
- Joseph Andreae, president.
- Based out of the building that “Applegate Way, LLC” owns.
- So a leasee of Applegate Way, LLC? This “non-profit” can’t make a profit but it can pay expenses. Like rent to Applegate Way, LLC which can make a profit. For its owners.
- It can also pay wages and according to its articles of organization, …reimburse “all members concerned”.
- No money for VAPE possible from operations. It is a non-profit.

MADRONE HOLDINGS, LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1737717&p_srce=BR_INQ&p_print=FALSE
Owners: Jordan Scott. No VAPE ownership listed.
- Same address as the building “Applegate Way, LLC” owns.
- A leasee of “Applegate Way, LLC”?

COLLECTIVE LAND GROUP LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1764872&p_srce=BR_INQ&p_print=FALSE
Owners: Justin Lee, Justin Manns, Nick Jackson, Joseph Andreae, Jordan Scott, Kyle Tracey, Kensington Holdings, LLC. No VAPE ownership listed.

COLLECTIVE LANDS CORPORATION
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1764603&p_srce=BR_INQ&p_print=FALSE
Owners: Justin Lee, Justin Manns, Nick Jackson, Joseph Andreae, Kyle Tracey. No VAPE ownership listed.

MADRONE CELLAR LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1763407&p_srce=BR_INQ&p_print=FALSE
Owners: Joseph Andreae, Kyle Tracey, Justin Lee, Justin Manns, Sterling Scott, Jordan Scott. No VAPE ownership listed.
- Hard to say yet, but I would expect money to flow to this company from a number of the other Oregon companies. It makes sense based on the structure and addresses of some of the other companies but it is just conjecture at this stage.
- Does this one own the building at 9400 Highway 238, Jacksonville, OR? Not listed as the owner but it may have been recent. That would make sense to flow money to this company for its owners.
- Some of the other businesses are listed at that address which would create a rent situation.

THE HONEY CELLAR OREGON, LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1758306&p_srce=BR_INQ&p_print=FALSE
Owners: Justin Lee. No VAPE ownership listed.
- California address. Oregon company?

200 MESSINGER LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1761115&p_srce=BR_INQ&p_print=FALSE
Owners: Jordan Scott. No VAPE ownership listed.

600 BRO, LLC
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1751219&p_srce=BR_INQ&p_print=FALSE
Owners: Justin Manns. No VAPE ownership listed.

Questions re: Due Diligence.
- Are all of the listed owners of these new companies VAPE or PHOT insiders?
- If so, are they being paid by these new companies while being paid by VAPE or PHOT?
- Does VAPE or will VAPE or PHOT ever pay these new companies for anything?
- How does VAPE benefit from any of these companies?
- Is this the network that has been promised? Basically VAPE/PHOT insiders wearing other hats?
- How does it benefit VAPE to “network” with its own insiders?
- Isnt VAPE already paying wages for the services of its principles?
- Why are there 9! new companies?! Owned by insiders. It is hard to believe that is efficient. Inefficiency means leakage.
- The timing is optically questionable as far as VAPE just getting funding but not being visibly included in any of this activity. Looks like planned inefficiency.

In full disclosure I am invested in the sector. I continue to look for the one. I wanted to share a part of my informal research. I thought some of it was interesting. I was going to do more but I came to a personal conclusion. 9 new companies, linked somehow and owned by insiders says something. All information is from public sources. Do not make any decisions based on this or any posts. Always do your own dd.