I don't know if he can turn it around. They have had 5 reverse splits in the last 6 or so years, the last reverse split wiped out many of the stockholders. Then, they blocked Frija from doing a hostile takeover, when he bought that huge chunk of shares back in June 2016. They blocked him by choosing the date, for the voters of recorded who could vote on the increase of the A/S to 750 billion, to a date prior to all of his purchases. They raised the A/S to 750 billion shares so that they wouldn't be in violation of SEC regulations for not having sufficient shares to cover the warrant conversions and, in the process, also diluted Frija's shares to such a small percentage of total A/S. In order to get rid of him, they sold all of VPCO's wholesale and marketing assets to Frija's company. They have also tried numerous times and ways to get rid of their warrant conversion mess, but haven't been able to get the warrant holders to accept any of their proposed solutions.
As far as the 1 billion shares that they offered the CFO, that comes out to $100,000 if he can sell them at .0001, which is peanuts in actual cash. I am sure he won't sell them right away because that would mean that he has no confidence in the company, so they may end up being worthless if he can't turn the company around. Fixing the warrant problem is the major issue that needs to be resolved. Each warrant that gets converted further dilutes the value of the stock and as long it is at "No Bid" and the "Ask" is at about 1 billion shares, this puppy won't move anywhere.
By the way, I was one of the shareholders that was wiped out in the last 20,000 to 1 reverse split. I ended up with 1 share and lost over $3,000. The current management has gutted and destroyed this company. Of course, this is only my opinion, so please don't make your decisions based upon what I have said. Do your own due diligence and do whatever makes you comfortable. Good luck.
JR
