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Now the June, 2014 10-Q/A is out. Making progress.
They just filed a 10-Q/A for the period ending 3/31/14. So more filings should be coming.
The NT 10-k specifies 15 calendar days.
ECIG qualifies as an accelerated filer, so the 10-K was due on March 16. That's why they filed a NT 10-K on that date. The extension to file was through yesterday.
No, the NT 10-K specifies that the filing must be made "on or before the fifteenth calendar day following the prescribed due date," and the prescribed due date was March 16. Fifteen calendar days after that is March 31.
Accelerated
Cost of Goods Sold
Yet the 1:15 ratio puzzles me. From phone calls and emails, they must have known that shareholders would have been more comfortable with 1:10, but they chose to create additional uneasiness with a 1:15 -- all for a measly 10 million extra authorized but unissued shares (280 million v. 270). I don't understand the reasoning.
The pre-R/S equivalent of 30 million shares traded in the first 90 minutes is NOT low volume. It's monster volume.
That is Wednesday's data.
Tell TD Ameritrade to read yesterday's 8K: (as of the split) "19,931,334 shares of the Company’s Common Stock are outstanding."
It closed yesterday at .131 and the O/S was roughly 300 million. That would have put the market cap at roughly $39 million not $10.
Probably just under 20 million.
That's incorrect. As I write this, the volume is 15,420 and the last trade was at $1.77.
The effective date and the reverse split ratio were posted on finra.org at 11:34 AM yesterday and reposted here numerous times within three minutes.
A reverse split doesn't firmly set the price at which the new symbol will initially trade. Today's close will be price adjusted (multiplied by 15), but that doesn't insure that it will open at that adjusted price. It will likely be close to that price, but it's by no means mandatory.
"Last 10q was audited... " No, it wasn't.
Condensed Consolidated Balance Sheets as of September 30, 2014 (unaudited) and December 31, 2013
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income for the three and nine month periods ended September 30, 2014 and 2013 (unaudited)
Condensed Consolidated Statements of Stockholders’ Equity (Deficit) for the nine months ended September 30, 2014 (unaudited)
Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2014 and 2013 (unaudited)
Notes to Condensed Consolidated Financial Statements (unaudited)
Look at this: http://www.otcmarkets.com/stock/STTK/quote That's an OTC Pink stock.
Look at ECIG: http://www.otcmarkets.com/stock/ECIG/quote It's an OTCQB stock.
How about providing a link that shows ECIG to be a pink sheet stock?
A pink sheet company -- by definition -- does not file with the SEC. ECIG files. It is not pink. From the company's own site:
http://ecig.co/investors/stock-data/
Re:
"While ECIG is deemed a 'Different Breed' it's still a 'Pinksheet Company!'"
No. It is not. ECIG is an OTCBB company, more specifically an OTCQB company, one that is (at least until 3/31) "an SEC Reporting Company current in its reporting obligations."
They filed an amendment yesterday. Unfortunately, there is no detail provided.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=c1HNcIZFb9dK477LGs%252fj0w%253d%253d&CorpName=ELECTRONIC+CIGARETTES+INTERNATIONAL+GROUP%2c+LTD.
Before anyone loads up on this "scoop": #msg-111810554
“Required Minimum” means, as of any date, the maximum aggregate number of shares of Common Stock then issued or potentially issuable in the future pursuant to the Transaction Documents, including any Underlying Shares issuable upon exercise in full of all Warrants or conversion in full of all Notes (including Underlying Shares issuable as payment of interest on the Notes), ignoring any conversion or exercise limits set forth therein,
But just two days ago, they told us plainly, explicitly and unequivocally that the "The Company shall use its reasonable best efforts to effectuate such reverse stock split as soon as practicable and in any event not later than March 24, 2015." I see no reason to doubt that is their intent.
And here is what actually was in the 8K from two days ago: "The Company shall use its reasonable best efforts to effectuate such reverse stock split as soon as practicable and in any event not later than March 24, 2015."
The 45 day deadline applies to a non-accelerated 10Q, not an accelerated 10K. Here's the sec.gov link: http://www.sec.gov/answers/form10k.htm
Will do. In fact, I'll hang it on the wall right next to this one: #msg-110891878
Re: "how many companies do you know that have $200M+ in annual earnings and only have 30M O/S (10-1 R/S)?"
None, including this one. Through its first three quarters of 2014, ECIG had revenues of $31.3 million and a loss before income taxes of $63.8 million.
If they are setting the split ratio now, the split will occur sooner rather than later.
90%, eh? If that figure remains current, you are either one of the most stoic beings to ever walk the earth or you are marooned in a place where there is no internet.
What a relief! For a short while there, I thought that I had deduced something correctly, and I was uncomfortable with the newness of that.
Here is something I found mildly interesting earlier today:
pkdaddy64 posted that according to Phil Anderson, the 10K would be out on 3/16 because he was referencing "the SEC rule book and it falls on the 16th this year." #msg-111539613
March 16, 2015 is 75 days from December 31, 2014. That's the deadline for accelerated filers, filers who have $75MM or more in revenues.
http://www.sec.gov/answers/form10k.htm
Since ECIG had total revenues of approximately $31 million through the first three quarters, that suggests to me that its fourth quarter revenues were in excess of $44 million.
Or not. Who knows.
He is asking (I presume) because of the wording in todays p.r. O'Neill stated he is looking forward to releasing "our fourth quarter and year-end results upon the completion of the audit of 2014 results.”
"Sierra" is much more similar to Mad Magazine than it is to being a bona fide investment newsletter.
Thank you. I appreciate the explanation.
Apologies if this now available amendment has already been posted. Apparently the Florida DOS did not accept it:
http://search.sunbiz.org/Inquiry/CorporationSearch/ConvertTiffToPDF?storagePath=COR\2015\0305\69616427.Tif&documentNumber=P05000130265
Yes, I really believe that. I don't think that the two are linked in any substantial way.
"theres 82 mil OS" That otcmarkets.com number is very outdated. I believe that the last reported O/S from the t.a. was 287 million on 2/10, and it is almost certainly near or at the total authorized of 300 million by now.