Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
No problem, I get your point about nobody noticing. Could be.
From memory though, I thought they recognized Exec comp on an infrequent basis, and not every quarter. I want to go back through the old reports and see if I am remembering this correctly.
If that is the case, then a plug in value may or may not be needed in this particular version, and could have been a sloppy left over. Of course this begs the question of process maturity, but that's another topic.
I think this is an extraordinary opportunity to jump in or add to your position! As a complete contrarian investor I love the sentiment of this board and love the new direction this company is taking. Let's face it, this is nothing more or less than a lottery ticket with a brokerage fee. Buy what you can afford to easily lose and take advantage of and sell the rips! Otherwise quit crying and move on!
Yea this is ridiculous. Can't even handle how unprofessional this is.
This isn't the first time someone says that it may not be appropriate for them to release numbers. I presume that you mean sales numbers.
Well, if we take a look at when EG was coming to market, they had no problems when they announced that they pre-sold 20,000 for their March production run. Then they reported, once again, that they had pre-sold another 20,000 units which sold out their June production run. $1,000,000 generated for each run. That was exciting news very easy on.
So, it's more of a matter that they won't rather than they can't for some secretive reason. If they were to release great sales numbers; wouldn't that also help stimulate awareness and curiosity in the public's eye.
Very early on, they were putting out positive, forward looking statements. They followed these PRs with news of the upgraded version. They spoke of positive results at various industry trade shows. A US based distributor with 7,000 outlets was on the horizon. A Denmark based company with 400 brick and mortar stores was coming into the fold. Amazon and then Amazon prime was added and on and on. All of these PRs were telling us, effectively, that we were a company on the move.
Demand was so great that Yaniv went to China to open our own factory to meet the current and projected demand. 20,000 units per quarter was not going to fill the demand for the hottest grinder coming to market. Pictures from the trip were posted to help solidify his cause.
Let's not forget the PR which said that 2017 is going to be a record breaking year. That added to the excitement as well. We still have time.
Remember that great surprise Yaniv posted of? You don't put out a statement like that to pre-announce bad news. Good news was expected and has yet to be delivered. He led us to believe great things were coming "soon." Yaniv, please explain what that was. Enough time has past for you to reveal to us what you meant by that.
So, now, for them to suddenly shut their mouths at a time when they built up the frenzy for great results is so very disappointing.
Yaniv, you have let down one of your largest voluntary sales forces; your shareholders. I've never heard of any other company who's shareholders take it upon themselves and hit the streets to sell our product to local vape stores in their areas.
How many shareholders have brought friends, co-workers and family into the VPOR fold based on the positive news that you continued to release?
Yaniv, please be more forth coming with hard sales numbers. Please let us know how you will grow our company's value. Debt reduction? Share buy back? Our business plan?
We, the shareholders, deserve answers. It's our company too.
Just for the record, I am not trashing the company. I am still holding all of the shares that I had prior to the fins release.
My guess is by the time folks come around looking for the massive debts to be paid off, Yaniv will have already fled to that Maldives island he bought with the proceeds of EG and we hapless investors.
Each share of Series A Preferred Stock has voting rights equivalent to 10,000 shares of common
stock in any election of the shareholders for any purpose and is not convertible into common stock.
As a result of holding 100% of the Issuer’s Series A Preferred Stock,
SF Holdings LLC
is the sole
controller person of the Issuer with 56.17% of the
votes
that may be cast by the shareholders in any
vote for any purpose
based on the current quantity of iss
ued and outstanding shares of all classes
of stock
.
Each share of Series B Preferred Stock is convertible into 1,800 shares of common stock and has
voting rights equivalent to 1,800 shares of common stock in any election of the shareholders for any
purpose.
The entire class of Series B Preferred Stock represents 15.33% of the total votes
that may
be cast by the sharehol
ders in any election for any purpose based on the current quantity of issued
and outstanding shares of all classes of stock
.
Conseq
uently, the 34.61% of the Issuer’s Series B Preferred Stock held by Dror Svorai, only
represents 5.31% of the total votes
that may be cast by the sharehol
ders based on the current
quantity of issued and outstanding shares of all classes of stock
.
**Shalom
Ohayon, listed above as owning beneficially over ten percent (10%) of the Series B
Preferred Stock, is not an officer nor director of the Issuer or any of its subsidiaries
I don't feel as negative as I sound. I do feel though that this company has some major questions and being in accounting and finance when someone messes with their financials I become very suspect no matter what the cause.
Do I feel as confident as I did coming in? No.
Even with a great product if the money is not going where it should we can still be in the same boat down the line. I really want to know what makes up that debt and how it will be paid.
You can when there shouldn't be a number in there in the first place
Title of
Class
of Stock
Name and Address
Of Beneficial Owner
Amount and Nature of
Beneficial Ownership
100 Percent Of Class Series A Preferred [ 100 % ]
*
SF Holdings, LLC 1,000,000 shares
***********************************************************
Dror Svorai 524,750 shares
Series B Preferred 34.61 Percent
***********************************************************
Shalom Ohayon 396,500 share
Series B Preferred 26.15 Percent
***********************************************************
Yaniv Nahon 175,000 shares
Series B Preferred 11.54 Percent
SO WHO OWNS THE BALANCE OF SERIES B SHARES???
******************************************************************
They show that SF HOLDINGS LLC has all ready bought 100% of Vapor Series A Preferred shares, So why have they not DISCLOSED who they are ??????
888888888888888888888888888888888888888888888888888888888888888888888
.
Exactly - in accounting their is always a debit and a credit, where is the other side of the entry?
It has to go somewhere. And removing it totally off is suspect. In my company you can't just take a number away and say "oh, we fucked up". Assets and Liabilities can't just be removed. What other account is the question? Where on the balance sheet should that have gone?
I am not attacking your response. I am more attacking their response or lack thereof. To blame accounting error is suspect as it is. You have 45 days to do financials, do them right. If I was a betting man I am sure they were reviewed initially, maybe thought people wouldn't bitch or whatever and now that they got called out on it it is made to "disappear". Bad enough their financials are not verified by an independent auditing firm as well.
Good catch. That mistake is now corrected to a tune of negative $100k.
well hopefully he hits the water and doesn't hit the land...... of cotton...
That's exactly what I needed, thank you!
True. We'll if the numbers deliver we'll have a massuve gap up if we remain oversold. Until then, range bound consolidation until we break down to .001 or break out above .003.
Amen. Def looking to exit either way come fall.
Understood. I was thinking everything else was in order, except that the entry was wrong and wasn't included as a dependency, it only altered the EPS. I will look it over this weekend when I have more time available.
Thanks for the "non-hysterical" response.
Some more deadpan humor hopefully, unless that bridge you're going to jump off is one of those decorative lawn bridges that are about 3-4 feet tall. Still could be tragic, could really sprain your ankle.
This was my very first long penny play and been in one year plus from .0003 I will always have shares here but am only riding on what I wish to loose at this point. I will be taking profit on the rest today. GLTA
what is the link to the new updated financials ?
Something else would have needed to change if that were the case. If you remove expenses from the income statement, then retained earnings or some balance sheet account would have to change as well to balance. It doesn't appear anything else changed which is why it's confusing.
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=177328
If this link works it's the first version of financials. Had it open in my browser.
Someone mentioned they wanted to compare.
I am very positive about the product itself. THe part I can't get past is wondering if somehow we could wake up one morning to find the easygrinder is owned by someone else, has been transferred, etc. I am still in at this point but absolutely thinking about bailing.
Anybody that has been part of a small company knows that spreadsheets are everywhere. I'm not defending what happened, but I wouldn't be surprised if the financials were all linked or calculated values, except for the Comp number which was a plug in value left over from a previous version. Unfortunate and sloppy, yes, but mistakes do happen.
I don't believe the entry was "buried" in some other place.
Yep, more fluff. Come on Yaniv, this is getting ridiculous.
Oh well let's all cheer about the improved financials and get the PPS up so we can all exit
Boy-- that was great fun.... Felt like I was at a great sale... Have to do that again !!!
my goodness...Yaniv you must save this gentleman...this is a life...lol...
if you get your friend to whip you; you can feel less guilty about losing money... Then when you end up making a fortune you can be happy
I'm holding. I'm all-in. I don't want to take the loss.
I'll probably stop monitoring this board soon, because will need to wait for 3rd quarter results (November?). Long time away. Who knows what will happen. Maybe nice PRs in September and October. Then hopefully $20M in revenue. In the meantime, I am not even looking at my account, because it may convince me to jump off a bridge.
Money just goes poof. Still would love to know where this was moved to. They got called out and realize it looks horrible. Of course their financials are not professionally audited so they can blame whatever they want.
where those all your .002's?
Why doesn't Yaniv mention the error in the financials regarding officer compensation.
I was following Signal Bay (SGBY) for a while, and when they posted earnings, they boasted ~130% increase in revenue. Then just a few days later, they announced they had a clerical error, and it was only a 30% increase in revenue. An embarrassing mistake, indeed, but at least they notified the public!!
Why isn't Yaniv explaining his mistake?!?! Was it a typo? Did they in fact actually have $1M somewhere? Did he hide that somewhere in the other line-items? I wish I downloaded version1 vs. version2 to see the difference.
I got really drunk last night, and I sent an angry email to the company. Not a smart thing, but hey, probably not as dumb as their (in)actions.
hope it works out for you----i made a ton-HERE-form 005-36cents---and will never touch it again-and that includes when the coming dump puts it to the 000s again-all imo of course!!-tmonkey
I've been long this co for a long time but your right they are staring to look shadier than a three dollar bill
Check again, $0 for officers compensation.
I really want to be positive be that 2q report makes me very nervous about management.
They want you to believe their $9.99 spreadsheet software had a meltdown, but the timing was a little odd since it wasn't addressed in that follow up PR, and wasn't changed until yesterday. So, the question is where did that $1.2 mil come from to begin with, and where did it go?
How could you misplace $1.2 million and not realize it?
POOF -- Gone! As if it never happened.
Does anybody still feel positive...Very negative board attitude this am...Discouraging
Engines, you supply a steady source of sarcastic, satirical, and deadpan humor in your posts whether you know it or not that I personally find amuzing, and with what's been going lately with Vpor, it's welcome in contrast to the foul mood most of us are feeling at the present time.
Sooooo...did they pay themselves a million dollars or zero dollars...nobody else finds this odd...
My accounting friends, does a significantly depressed PPS trigger or neccessitate any further dilution due to MC changes (and ratios)?
From what I've gathered from disclosures on this board, we collectively control a very significant % of OS, and as a group, will easily move the PPS if there is a mass exodus (which btw, IMO is clearly already in progress).
They can disclose numbers, and detail, and projections, and whatever they want to disclose.
I can pull up thousands of SEC reporting companies that go well beyond providing numbers, that's what legitimate companies do if they value their shareholders.
VPOR is not an SEC reporting company so they can go even further than those that do report to SEC.
This is just excuse after excuse for utter failure.
I have made millions on OTC, pal. Know what you own. It's not about getting rich quick. Patience is the key here. Just my opinion.
Probably not ripe for them to disclose numbers.
They will do it at right time when there are anger and blood in the street.
It is all part of cat and mouse game. Survival of fittest test here.
Unsettling is putting it mildly.
I'd venture to say alarming would be a more fitting description of current events.
Not happening brother...that was it! There's no Guidance.
They've issued 2 PR's since fins, neither of which addressed one iota of what exactly is going on here, or what to expect. They're well beyond point of no return.
If they themselves can't outline what to expect, then what's the point to all this?
Followers
|
957
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
111925
|
Created
|
08/17/10
|
Type
|
Free
|
Moderators |
Easy Grinder™ Video Link here
On July 20, 2017, Yaniv Nahon, VP, COO and Secretary of the Company was appointed the new President & CEO and Treasurer of the Company, and Dror Svorai, former President & CEO of the Company resigned as an officer and director of the Company and each of its subsidiaries in order to pursue other interests. Simultaneously, Jorge Schcolnik, Chief Financial Officer of the Company was named a member of the Board of Directors of the Company and corporate Secretary.
Concomitantly on July 20, 2017, Dror Svorai entered into a stock purchase agreement with SF Holdings LLC, a privately-held investment company with which he is not affiliated, wherein he sold 100% of his Series A Preferred Stock to SF Holdings LLC and transferred voting control of the Company to SF Holdings LLC. Terms of the stock purchase agreement were not disclosed. Mr. Svorai agreed for an indeterminate amount of time to act as a consultant to the Company's management to smooth the transition.
On August 14, 2017, the Company posted on OTC Markets.com, its second quarter 2017 disclosure statement citing the above changes. The Company also posted its second quarter 2017 financial statements. Yaniv Nahon, current President & CEO of the Company, stated, "The financial statements as of June 30th don't reflect the huge sales gains of Easy Grinder™ to date that we have made since shipping and invoicing only began in early June, with product inventory arriving in multiple shipments throughout the month. So, the financial statements show only a few weeks of Easy Grinder™ sales results." He added, "You'll see a huge gain in our revenues in the third quarter report as Easy Grinder™ sales climbed upward. Also, we made significant sales gains from our attendance at the BIG Industry Show in New York City in August, and ASD Market Week and the CHAMPS Trade Show in Las Vegas in July. This is going to be a very good year."
Link to Press Release here
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |