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EC*G even with lagging revenue made in one quarter what VPOR made in 2 years....
I don't know why I'm arguing this...
I'm already even....
That's your opinion and I value it...
But if we ask ourselves who's closer to a NASDAQ IPO ECIG or VPOR...I say ECIG.......
No matter how long it takes
I'll trust the judgement from the note holder that just gave them 41 million dollars over you sorry....
They have a AS of 300 million and you rather stick around a 8 billion AS....
I know I was just responding to the reference that the CEO's in the OTC are of the same caliber.... Because they are not....
Yeah after taken over a load of BS from Willis.....
He also secured a non convertible loan worth 41 million that has warrants that exercise at 45 cents that would give the company a 80 million dollar cash infusion....
I doubt dror could get a 500,000 dollar non convertible loan
CEO of EC*G That was just put in charge a month ago that used be VP of Molson/Coors and Hienz and a few other other big brand companies..
Dan O'Neil is in a whole nother league then any OTC CEO......
Can't even compare....
His head is already threw the wind shield all we can do is wait for the paramedics to arrive lol..
Why is everyone thinking Dror raised the AS to 8 billion just to make the flippers mad......
He said in the 8k it was for debt.....
With that mindset he willingly screwed all his longs as well when the price dropped....
Well more eyes are coming here and seeing the BS.....
It's not really helping.....We should of had the same attention with great Financials instead we have negative attention because of our 8 billion Authorized Shares
And that will be good enough for me lol..
We were calculating barely hitting over 3 cents before....
Things have changed...
Tell you one thing...if I get back in I won't be waiting for pennies to sell lol
I'm sounding way too much like a basher then I would like to be these are all plausible scenarios....
Gonna be stuck at these levels until clarity from Financials come.....and even then were unclear on What's really happening now until next quarter...
What's crazy about that decision is...He adds more shares to the AS in case the stock drops and more conversions need to take place but raises the AS so much it causes negative sentiment that drops his stock price......
We'll see what happens..
Another reason I believe dilution isn't over...
We Were sitting allegedly at a OS of 3.3b with a AS of 4.5billion...Why are the note holders harassing dror for space in the AS is there still 1.2 billions shares left to sell til it's maxed?
It's either the debt out weighs the 1.2 billion shares left or were already maxed out the 4.5 billion AS and we need even more room for conversions and Dror lands on deciding a 8 billion AS would be enough room for conversions...
Bad example... We don't want CEO's with high credit limits...
He has added 3 million dollars worth of dilution at this price level and that's a fact....Instead of prepaying the notes and doing a minor AS raise he knocked are socks off with 3 billion more shares...
Even if the dollar amounts are same the shares that will be converting aren't.....We were looking forward to days of dilution left not months......
You have to admit things have changed here....I was hoping we would run on a 3.8billion OS tops now were looking at crawling around with 5-6-7-8 billions shares? Come on......
Looking at a billion shares converting if he hasn't taken on more notes and even more shares if he has....If he had any intention of pre paying the notes he would knock that out and wouldn't raise the AS to 8 billion as a "Precaution"
I can't believe were talking about SEC suspensions and billions in shares about convert right now...
Today was supposed to the start of the run and great Financials instead we find out we have been calculating false Yearly Financials and we have double the structure...
The whole risk reward has shifted....
And he better get those revised numbers up quick cause that leniency doesn't last long...
Defrauding investors with false values on your SEC Financials... and a 10K none the less that covers the whole fiscal year.....
Yes he could be suspended for this....Whether it's the CPA's fault or not.....
Exactly.. Before he lowered the AS from 2 billion to 1 billion because he felt he didn't need that big of the AS as he stated in the interview...
Now he raises it to 8 billion "Just in case"?....
I hope so but regardless I'm not reloading until that 10k and 10Q drops so we can have clear answers on the debt situation.....
That will determine the trading range for this stock....
It must be in millions because they made billions of shares available with the AS raise...
Pretty much.......Eddessa explanation makes sense but stills leaves us at this fact...
If the stock price doesn't appreciate then we are looking at a lot more shares of dilution then we previously were...
AT the end of the day the low stock price now has billions of shares getting ready to convert instead of hundreds of millions...
We wont know really...The Quarterly Will display the debts taken out up to March 31st...
If he has taken anymore debt out in April or May or coming in June we wont know until the next report.....
And seeing how the AS is raised we can bet he did....
He just admitted in the PR that he lied about the debt situation...
He said the note holders kept calling for him to make room in his AS For conversions....But if were supposed to be close to debt free nobody should be calling because everyone should have been paid or close to being paid with the ending conversions..
He Knew we had more debt....he knew he would raise the AS.....And promising No Reverse just to raise the AS doesnt help shareholders not one bit....
So he raised the AS of his company to 8 billion just to scare off the weak?
Thats what we thought....and apparently the CPA Misconstrued the debt situation and we have more debt then DROR knew about....So he just raised the AS to make room for future conversions...
That whole debt free thing just fell out the window....
Anyways im done...No more arguing....We have our proof.....
AS Raise was for Debt...End of discussion on my part ..off to my other plays....
Exactly now im gonna watch it get crushed from conversions and get back in at some ridiculous price i never thought it would get to and ride it to 0.0030 instead ot 0.03
Right now its not about that...its about if this stock can move under the weight of the conversions....
Business is booming but at too great expense to shareholders...Were not winning here.....
In other words Were not debt free and dilution will continue....That was the best catalyst to run this stock and now its out the window....
Disappointed
Who knows ..We're supposed to have the thing yesterday lol
Just what i expected.......So you promise no reverse and give us a huge AS instead.....SMH
Vapor Group, Inc., VPOR, Releases Letter to Shareholders on Recent Events
Vapor Group, Inc.
DAVIE, FL--(NewMediaWire - May 21, 2015) - Vapor Group, Inc. (OTCQB: VPOR), (the "Company" or "Vapor Group"), today released the following letter to its shareholders from its President and CEO Dror Svorai.
Dear Shareholders:
Yesterday afternoon and again this morning, we filed two 8-K's addressing recent events that have significantly impacted the Company. The following are my comments on each of them:
2014 Financial Statement Restatement: What the 8-K filed yesterday can't express is the frustration we feel in having to revise the 10-K for calendar 2014 solely to allow for adjustments for "embedded conversion options" inside convertible promissory notes. Previously, such calculation of the future value of conversions to shares was never required; yet our new auditors (replacing our prior auditor who resigned) have required its inclusion under strict public company accounting standards. We are complying with their request and in fact, much of the associated restatement work has already been done. We expect to file the amended 10-K within the week, if not sooner. Immediately after the amended 10-K is filed, we anticipate filing within a day or two of its filing, the Quarterly Report, or 10-Q. The 10-Q had already been written and ready for filing before May 15th, but couldn't be filed until similar "embedded conversion option" adjustments were made to it. SEC procedure demands that the revised K be filed first. A company can't file a subsequent financial report unless the prior one is corrected. All that said, we expect to be current on all our reports within a short period of time.
Increase In Authorized Shares: Our Board of Directors again found itself having to approve an increase in our authorized shares. This time, however, our feeling was to increase it to such an extent that we won't have to keep going through increases again and again.
We needed to have adequate shares to conduct daily business while dealing with noteholder demands for increases in their share reserves in order to avoid default under the terms of the promissory notes.
Given the dilution driven by debt conversions which have been pushing the market price of the stock down, and the related, non-stop repeated calls by these same noteholders for increases in share reserves against their future conversions, the Board moved to put enough shares into treasury to cover constant noteholder reserve demands while avoiding the risk of default for not having adequate reserves set aside. Generally, these share reserve requirements are onerous. They put in reserve a quantity of shares that often assumes a share price over time of 15-20% of the market price of the stock. In other words, they assume continued downward pressure on the market price of the stock.
We publicly stated that we would not do a reverse stock split in 2015, and we will honor that commitment. Had the Board decided to reverse the stock, the increase in the authorized wouldn't have been necessary, but we believe that our shareholders would be penalized by its outcome, and decided not to do it. Part of the effect of not doing the reverse is having to increase the treasury stock.
We Continue To Grow: The above issues aside, the Company in the first quarter continued to show increases in revenue, and the expansion of our product distribution, now including the bulk shipment of our proprietary e-liquids to a Chinese e-cigarette manufacturer. Domestically, we continue to expand our distribution footprint. It has been this continuous growth, and the requirement that it created for increasing amounts of investment capital, that has driven the above issues. We are here for the long term and committed to growing the company regardless of the periodic challenges that we face from time to time.
I know man we were so close like Come on...This is crushing news not just some let the market digest bull crap....Were not running anywhere with a 8 billion AS
Thats great! Here we are hoping for a share buy back to decrease the AS too and instead they increased the AS Sooo much because they know the sh*t storm that is coming.....
I remember him saying in the interview back when they decreased the AS from 2 billion to 1 billion because he felt he didnt need that much room so he decreased it now he feels he needs a 8 billion AS?
Oh the good ole OTC strikes again
But they didnt end up with a 8 Billion share AS