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Instead of us speculating why it wasn't reported it should have been very clearly communicated from Yaniv. He knows everybody is waiting for the EG fins. Why not make it abundantly clear where and how will it be reported.
Could also have been contingency sales to distributors. If the distributors have a right to return any unsold goods whenever they please, then you can't take the EG into revenue until the distributor actually sells them.
Only thing I can think of is that these were just purchase commitments and not actual orders like when you go to a website and checkout with a credit card. Then the sales would be booked into revenue when the EG was shipped/received by the customer and a bill was sent.
Has this been explained yet? I know it hasn't officially by Yaniv. We had 40k orders IN Q2. Nothing shows that. Why and where is it?
we are up 5% SF buying??
must be on your side, working fine for me. Try restarting the app.
Is there a glitch on ihub side because I haven't seen any movement today in the ticker. Haven't seen green or red but there is 27M volume. ????
Not being humorous, but it's actually a real possibility. Maybe not the Maldives, but somewhere outside the US where there is no extradition.
Well, it's a 21 bedroom estate, so I'm thinking he has enough roon to house you.
Is there any proof Easy grinder sales go to VPOR? The Q2 financials sure don't show it.
Too expensive gadget ! Drop the price.
on July 20, 2017, Dror
Svorai entered into a stock purc
hase agreement with a privately
-held company, SF Holdings, LLC, (the “Purchaser”) for the s
ale and
transfer of 100% of his Series A Preferred Stock
in the Company
, which represents voting control of the Company (the “Agreement”).
Under the term
s of the Agreement, effective on July 20,
2017,
the Purchaser
obtained any and all rights to vot
ing 100
% of the shares
of Series A Preferred Stock
which was held by Dror Svorai, transferring control of the Company to the Purchaser
. As a result of these
events, Dror Svorai is no longer an officer or director of the Company, nor the controlling
shareholder of
the Company.
Also on July 20, 2017, Jorge Schcolnik, Chief Financial Officer of the Company, was appointed a member of the Board of Directors
of the Company.
What bugs me the most is that it looks like if they really wanted they could be running a very successful company. There is great interest in EG and their core which is Vaping pens and liquids still get them steady revenue. But they keep falling back into their bad habits and cashing out at the peak of interest. I suppose this is easier life than running a legit company. I expect nothing less now but that new shell company to sweep all Grinder revenues while PPS will go slowly back to low 0.0005s
Maybe SF is a blessing in disguise...obviously Yaniv can sell and show-maybe SF can attend to the Business aspect of this venture -
either way I'm still sitting tight.
To error is human.. Errors don't bother me as long as people man up to them..
But, My concern here is SF holdings and their plans.. RS us to oblivion?? Buy up the common?? They do have all the voting rights and pretty much in control and we don't have a model on what they do.
Right, if it is a glitch then someone looking at these messed up. Its like going on an interview with a resume with spelling errors.
I agree but a product takes time to sale and Rome wasn't built over night
Honestly I am becoming more and more afraid of that. Not being negative, I really want my investment to pay off, but I am being realistic in feelings.
And he can say whatever he wants about Q3 and all the shows and selling orders and the best grinder in the world. That means nothing unless we start seeing debt paid.
Yes but then it would still not balance another transaction. Unless there is a glitch in the software that produces a number out of thin air, that money has to be somewhere.
Tottally out of thin air. With non-audited financials they can make whatever they want in an Excel and present in a fancy little pdf file.
How often can one say this line before it becomes reality! Lol. I bet if you go check all the VPOR posts over the last 3 years this line has been mentioned once every 2 days for 3 years. What's the timeline on patience?
Q4-16 I believe for exec. Comp.
All we need is PATIENTS it's a hot product and they just started selling it 3 months ago!!!!
You're spot on, but nothing changed...it appears they simply pulled it out of thin air.
When I first looked at it a few days ago I couldn't find where they pulled $1.2 mil. This probably would've blown up in their face since it caught people's attention, and would've most likely landed them in hot water.
It may very well show up again next Q since it was technically supposed to be on Q-1's report, and since I seriously doubt they'll have anywhere close to that number in revenues, then they'll use share conversion to offset.
As I noted before, if they had included this in SG&A it probably would've gone unnoticed.
Great post and all valid points...thanks!
You think he give me a free week on the island for sticking with the company through all this? Was thinking about going to the Maldives on my honeymoon next year anyway...
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.
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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
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