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Maybe he's moving the corporate offices to his dad's basement to save money since they won't need all that space due to "the app"?
I understand gambling quite well & believe many here do not fully understand BETS revenue and the vig. The money needs to be 50-50 when there is a "points line", which is there to even out the money.
In this case, the odds were set at 3 or 4 to 1 that they would STAY. So $100 bet on EXIT paid between $300-$400. Fox news said some bookies moved the line to 10-1 in the final minutes!
So if $10 million dollars was bet on both "stay" AND "exit", as YOU suggest, what would the impact be to BETS? Like I said, I hope they got the money right.
Care to adjust your comment about my betting knowledge?
Regarding the brexit, we all better hope they had the "money right" between stay vs exit since the line was clearly wrong.
Maybe they can sell cocaine out of the back of the bodega?
Huge sign of Shorts attacking.
If the shorts attack from the rear, does anyone think Greece would help?
If/when the FDA regs topic recirculates, those who say "the US doesn't matter anyway", should remember this:
The U.S. E-Cigarette Market Is the Biggest in the World
I assume you're joking about the annual 10K due date being end of June, but since I'm chilling on my balcony, I'll bite.
The 14 year old "new rules" you refer to have nothing to do with LTNC. The rules were changed to make "large" & "very large" companies file their reports quicker. It is based on the public float value so LTNC is neither. They are a "non-accelerated filer" so their annual 10K is (was) due 90 days after their fiscal year-end.
LTNC's 2015 fiscal year-end was December 25, 2015! This means the 10K was DUE on March 28, 2016. The "NT" gave them an additional 15 days from 3/28/2016.
Now if you think I am wrong, simply look at the "10K NT" they filed on 3/28/16. (NT as in NOT TIMELY). It shows 12/25/2015 as their year-end date. Then ask yourself why would anyone file an NT (NOT TIMELY) report "before" said report was actually due?
However: Let's say Person A is an insider at company XYZ & tells Person B details about something "big".
Person B does not trade on this information and therefore does not stand to profit on said information.
But Person B tells their Buddy, Person C, "I hear something big is about to happen with company XYZ, if I could, I would buy their stock".
Person C could profit from that "tip" and not be charged with trading on inside information.
I don't know how any of this applies here in "rumorville"? Just saying...
Thanks, will do...
Food for thought: (maybe like bad shell fish? Or salmonella? Or trichinosis? I digress...)
Little 'ole me once owned $3,300 worth of Units, which converted to warrants. I held units & then warrants in 4 separate accounts. I exercised all warrants right after they got back to QB. Due to rule changes, delays, & the tanking pps, my converted shares were worth pennies.
Now for the fun part of "what could have been". Each warrant was originally valued at $1.09. After the 1/70 RS, each warrant's value converted to $76.30, and after the 1/20k RS, EACH WARRANT WAS VALUED $1,526,000 DOLLARS. (Not a typo)
Even though I would have been RS'ed to a tiny fraction in each account, due to the "round-up rule", I would have had "1" whole warrant in each of the 4 accounts. In other words, technically I would own 4 warrants for a total value of $6,104,000 dollars.
Now let's pretend I elected to exercise the day of the jumbo RS which means at $2.00 per share. That means VPCO would owe me 3,052,000 shares. Even at .01 penny that's $30,520! Remember I started with $3,300.
Since I still haven't received my rounded up 1 share from the converted warrants, it's safe to say I wouldn't have the rounded up warrants either, but I'd of been waiting on over 3 million shares!
The point is, how many other peons might be waiting for their $1.5 million dollars worth of shares? The 5 million shares traded since the RS is NOTHING!
Just something to think about for people (not you!) who say "a pop to .10 could come"!
All together now, "VPCO IS A FLAMMING PILE OF DOG SH!T".
SS83 & BJ: I get it that he wouldn't "want to" & yes, it would suck. I'm just saying lenders will do whatever they need to do to get paid so the "max 10%" doesn't mean much. If the time ever comes, I think Strong will figure it out.
They are so far from an exercise at this point so it's mute anyway. It's simply my thoughts & response regarding the "10% limit"...
My point is people keep saying "Strong can't hold more than 10%" but I've never seen a "minimum hold period".
Couldn't he exercise & sell? That's of course assuming the pps ever reaches a strike price but that's another discussion...
Regarding the 10% limit: How long must he hold the exercised shares?
Yes, unfortunately foolishly still holding 74k shares at 5.5 times current PPS.
Sniff, sniff...
The circle of ECIG
START
1) Failed IPO leads to crushing debt. Company teeters on BK & forced to do RS. Early investors are wiped out.
2) New top-level management pulls company from the ashes, restructures debt as best they can towards a turnaround. PPS begins to recover.
3) "The only thing holding us back is illegal shorts and crooked market makers. Once they're stopped we'll be fine."
4) New demon is IR/PR. "All we need is to replace these guys, get the word out, and get new/more investors."
5) IR is replaced. Revenue tanks then the PPS. Many longs bail while others hold with huge losses. Debt needs to be restructured.
6) GOTO START?
Looks like some are already skipping to STEP 3?
Thanks for the detailed response, GLTY...
With that said, do you have an opinion as to the chances Dr. Russell "will do things the right way"?
Quote:
They didn't miss a payment. They couldn't pay the quarterly interest.
Did you read that to yourself before you posted it? Lol
OK, I know this sounds delusional, but any chance Dan is/will play semi-hardball with Strong? We assume Dick already said "no" to a restructure, right? So now ECIG has missed a payment (was it to Strong?)
What if Dan says: gee Dick, I'm confident we'll be able to pay you back, but not at the current terms. You know our books better than anyone. If you could lower the interest rate & extend the terms, we can extend the expiration date on (some/all) of the warrants, at the existing exercise price. Otherwise, we might just need to "hand the company over to you & I'll walk away". With more time & lower payments, we can expand to increase revenue, get profitable, pay you back in full, & all come out winners...
Time for my meds?
Yes, and the lesson here should be if the word "Units" appears ANYWHERE in any potential funding/refinance for ECIG, run as FAST AS YOU CAN!
We already covered this a week ago, obviously you forgot or are confused?
I will bet you $1 million dollars a 1 for 70 RS will occur after March 2, 2016, which is my post you are referring to. OK?
At the end of the annual cc, someone asked "when would Mansour begin distribution into Egypt". (Specifically = Egypt)
My interpretation of Dan's answer was "right after Israel & Palestine merge into one happy country"...
If Ryan pays "co-owners" a dividend, does that mean we won't get a Christmas bonus?
Since my first buy about 7 weeks ago, everyday someone has asked "how much does Apollo have left to convert"? And the answer is ALWAYS "they are almost done".
I find it difficult to believe nobody asked this question for the recent shareholder q & a but the details were not disclosed.
I asked the same here a week or so ago and got 2 replies: one was "it's a moving target and can't be determined" (which is complete bs) The other answer was "there's only x left at n on L2 (which is completely useless)
So basically we really have NO IDEA "how much is left", the word "almost" means anything you want it to be, & the company definitely doesn't want shareholders to know.
Holding since November 2014. Didn't sell, might attempt small flips if we dip to .13 - .15 again.
I disagree with the idea we see a turn around before late fall. We are half way thru Q2 & were just told we're cash strapped, to the point of being delinquent so forget about expansion. Can't even think about product development/enhancements, right? The "goal" is to refinance before "next call". Target is by end of June but "if" it happens AND it's better/longer deal it could come late July. Forget about Q2 & either way the excuse is already built-in for Q3. "We have the needed capital but it will take some time for the effects, blaa, blaa, blaa."
Now factor in the additional talent we needed & hired. I understand we absolutely need them but we're ADDING cost at the same time revenue took a hit. How will Monsell be effective with no working capital?
Let's suppose Q3 is decent enough to show things are turning around. Doesn't that put us where we were a couple qtrs. ago? Like where new investors may want to see at least 1 more qtr before they jump in.
The woods are lovely, dark and deep. But I have promises to keep. And I have miles to go before I sleep...
Frost
Dan said he was flying to the U.K. early this morning so that's cool he took the time to talk with an investor about a loan that he talked about just yesterday! Wait, I'm hearing voices from beyond, Dan? Is that you making a connection from the sky above? Dan?
Do you consider Burger King to be in an innovative industry that is growing at an annual rate greater than 20% & did their recent Q over Q revenue decrease by 34%? Apples & oranges?
My point is our extremely difficult path to success just became more difficult.
Sorry for your loss (and I don't mean that in a smart-ass way). If I had the balls I'd dump my 73.5k shares (avg pps .75) & buy back at what will most certainly be a much lower pps than today's close...
We were previously told they had "adequate" working capital yet that is the excuse. We "did" have some expansion throughout the world. We are in a growing industry at a rate of around 20% per year and our goal is to be "the largest independent e-cig company in the world".
Q1 2015 revenue is 100% MEANINGLESS! We should be growing each quarter. If we need to raise more capital to increase revs, then we're f'ed, we have enough debt and warrant overhang as it is.
Bottom line is it really doesn't matter what I think about the revenue number and that goes for just about everyone else "already" here. We need NEW investors. Who's going to invest big money in a company that should be increasing revenue but it's declining instead?
Think I'll get drunk now...
I'm curious which product(s) we have that might be grandfathered & how?
Their "trademarked" product name is "E-CIGS". Not us. I went to their site & their primary product, a 2-piece battery & cartomizer, looks very similar (from a pic) to our FIN AVS. They also have a 2 page PDF listing their "licensed patents". Wtf?
Question: What was the "revenue" number for Q4? ECIG's press release said Revenue increased to $14.8 for the qtr. & $54.2 million for the year. I can only find "full year" numbers in the K. YTD thru Q3 was 38,505,875 & 54,227,000 for the year. The difference is 15,721,125, not $14.8?
Did they mean to say "net sales" were $14.8 for the qtr? Was Q4 REVENUE $14.8 or $15.7?
Statistics that show our industry growing by 21% per year, for the next 7 or 8 years, only solidify my opinion that if "one of the world's largest independent e-cigarette companies" doesn't increase revenue over the previous quarter, they are failing.
2015 is behind us. I realize how screwed up the company was and the incredible work that was done to get to this point. We've been told there is "enough" working capital to satisfy demand and we have seen expansion. Just saying Q1 2016 better be "anything" more than Q4 2015.
If someone is a long term holder of ECIG & they are not at least a little "depressed", they must be taking Prozac. Maybe after Monday you'll be able to lower the dosage? lol
Notice how the word "adverse" needs to be in there? Gee, I wonder how this report will go...
I was "quiet" until you poked me by saying "RS will not happen", after it already did. 1-70 RS was on March 9, 2016. PPS closed at .16 that day.
Wise man say to you: Sometimes it is best to remain silent, and thought the fool than to speak and remove all doubt...
Good luck
You must be bored & have nobody to play with since it appears everyone has left? You referenced a post I made over 2 months when people were trying to say the 1-70 RS would not happen. I assured people it would. The 1-70 DID happen and even after that the pps is now at .0001.
What am I missing?
Their squirrely fiscal periods end on the LAST FRIDAY of each said period.
Therefore, Q1 2016 is DUE Monday, May 9th. Of course this doesn't include the NT extension...
For more insanity: The warrants split as well, but the Black-Scholes value increases by the same factor. Also, the b/s value is dynamic & has crept up from $76 ish to $86 ish. So, at 20k to 1, since shares round up, if you own less than 20,000 warrants, even if you hold "10" warrants, you will have "1" post split. But the value of that 1 warrant will be $1,736,000! Granted there will only be 50 warrants in total remaining.
Due to the rounding & the previous split, the total value of the warrants will be HIGHER than what it was at the start, despite billions of shares already issued!
And, I think most warrant holders (or at least those who can't short OTC stocks) were/are screwed along with shareholders. When you elect to exercise, you get the pps from "2 days prior", plus it takes a few days. So with a falling pps, you can be down 50,60,70% by the time you get your shares. For the most part, this is an equal opportunity screwing.
FIN not fine IMHO. While FIN may already be prepared to "pass" the test, it would still need to apply, "pay for", & go thru the process.
Our best hope is the rules are revised in some way from how they appear today, (as a couple people here have suggested).
I don't understand why some are lumping us together with Big T like we have the cash laying around to go thru a costly process?