Friday, February 12, 2016 11:18:53 PM
The company had debt & a failing business model. The units raised $41 million, VPCO got $38 million of it. Paid off debt & changed from distribution to brick & mortar retail model. They acquired something like 30 retail locations. This was possible ONLY because of the cash raised from the units.
They should have had a no short clause. Those who shorted made money, but the numbers don't add up to any where near 28 million in profit. When you elect to convert, you get shares based on pps from 2 days prior. With a drop everyday, this works against you. If I had converted all of my $3,300 in warrants on Thursday & immediately sold at .0006, the gross would have been $2,800 for a $500 loss. If I got .0008, would have been a $400 profit. Not a killing.
I do not "want" an RS, which minimum is now 1-10,000, but I have no choice in the matter. I also do not agree that my warrants hold no risk! Especially at this point!
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