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Did you get your vote in yet NitWit? Fingers crossed the R/S passes. Vote Yes R/S No A/S
PK did Phil really tell you earnings out on the 16th? Or just another some more hoodwinking? I talked to Phil again over the weekend and told him they better release something on Monday even if they did not have much to release. Shareholders thirsty. Guess they listened.
Not a bad day at all. What is this starting to look like!??
http://stockcharts.com/h-sc/ui?s=ECIG&p=D&yr=0&mn=2&dy=20&id=p22772656552
Sure not trading like a deal has been established yet.
Don't wait too hard. Nice bounce off the 50 day MA as most expected. Very unlikely we will ever see nickels here again.
From the definitive proxy statement, for those that are worried about management implementing the R/S without notice:
Just checked the SEC link you provided again and it looks to be $75 Million+ for the public float, not revenue. So I do not think the 75 day deadline would apply to ECIG for the 10k.
http://www.sec.gov/answers/form10k.htm
Great information. Thanks. I was not aware of that. So if ECIGs 2014 revenues were over $75 million then we should get the 10k by Monday of next week. That is exciting!
In this case, yes it is.
Yes exactly. From the PR it sounded like it is possible we may get the 10K early if auditing is close to complete. At least my take.
I understand that. It sounds like the 10K has been completed and is being audited right now. Wondering how long auditing a 10K usually takes, if there are any CPAs on board that are familiar with this process.
Anyone have any idea how long auditing the financials usually takes?
Good post Buckeye! I also believe Mansour Group will play a big part in ECIGs future. Aside from the benifits of their massive business network, they also still have the option to purchase an additional $40 million worth of shares. If they saw value in purchasing $20 million in stock at ~$10 per share, I am sure they are very interested in exercising this option down here at these prices. The R/S will make this possible and if they elect to do this it may double the O/S, but it would allow ECIG to pay off most all of it's debt, if they decided to do so, and never let a convertible hit market again. They could be the ones trying to keep the price down, to ensure they get the best price possible before they exercise their option.
What did you find out was going on? Big money fleecing stupid retail out of their shares? There are many on this board that have been doing DD on this stock for months now. Please share your DD. We would all love to hear.
Seanboy most all big money and smart retail in this want the R/S to happen. So continuing to use the R/S as a scare tactic is not really working but I give you an A for your efforts. I have spoken to a half dozen or so big fish that own anywhere between 1-10 million shares each and most all of us are continuing to accumulate at these gift prices, going into the R/S. Why? Mainly because it it is going to allow ECIG to obtain longer term financing to clean up all the convertible debt. I believe it is a key goal of new management to make sure convertibles do not hit market again. They saw what the convertibles hitting market did to the PPS already and are determined not to let this happen again. Once the R/S is voted in MMs and big money will continue to fleece any smaller uncertain retailers out of their shares. Once news of longer term financing teamed with the 4th quarter revenues hits this is going to fly much much higher then .20. Then once 1st quarter revenues are announced is when things will really start to get exciting.
Tesla, ECIG actually bought FIN for $133 Million ($10 Million Cash, $15 Million in Promissory notes and $109 Million in stock), VIP for $50 Million ($20 Million in Cash, $11 Million in Promissory Notes, and $15.5 in shares) Vapestick for $54 Million ($6 million cash and $48 million in shares).
This is one of the main beauties of this investment. ECIG "paid" $250 million for it's 3 main acquisitions in 2014, but in all actuality from where we sit now (at our current PPS compared to stock issued at time of acquisitions) only paid $36 Million in cash, $26 Million in Promissory notes and ~$2 Million in stock (based on current PPS values compared to issued stock price). The shares issued to these acquisitions were at current stock prices (averaging between $10-15 per share at the time of acquisitions). If the companies did not sell their shares issued (which most likely they did not) it is very unfortunate for them but is great for us shareholders down here, as ECIG was basically able to buy companies valued at $250 Million for less than $70 Million due to depreciation in stock value. However, these 3 main acquisitions are still worth atleast a combined $200 million, if they ever had to be sold.
Everyone needs to think long and hard about this. If they can comprehend it then they will understand what a gift these prices are down here with a current market cap of ~$29 Million.
He was using sarcasm
Have fun in Jamaica! Scared money don't make money. Sorry I can't respond to PMs.
Why did COHI steal 30-60 million shares from retail these last 2 days? Mull that over this weekend and please feel free to share your opinion on the matter. I expect we find out soon.
Last chance for cheapies. Do the opposite of the sheepies
Interesting watching the MMs trade back and forth to each other today. Retail seems to sitting on the sidelines after the MMs stole all their shares (again) waiting to see which direction this will take. COHI looks to be loading/covering heavily (again). I picked up another 100k earlier today. Trying to build my core to million shares before this takes off (again).
False. Look again. Q3 net income: + $41,415,402. This is not a loss. Losses are encased in (these). This number is high because of the $38,688,174 in Advisory agreement warrants that were added back onto the balance sheet, after the our Chairman of the Board, William Fields (former CEO of Walmart) gave back warrants that were previously issued to him, due to the PPS decline. Those and over $20 Million in other fair value warrant adjustments. Granted there was a rather larger loss in the total YTD (9 months ending Sept. 30th) of ($63,856,980), mainly due to the general costs of building the largest independent ECIG company in the world from the ground up in very short time. Many of the costs involved in building their distribution infrastructure were one time expenses and will not be incurred in 2015's financials.
Please do not spread false information. Thanks
In my humble opinion the conversion price does not matter, because this note and all other shorter term convertible notes will be paid off before they ever get a chance to convert. They had to give them some favorable terms in consideration of a convertible note signed when there are shares available to convert. Very interesting that a lender agreed to a convertible note under these circumstances. Never seen this before and I doubt anyone else has either. This should tell you something. I believe longer term financing is ready to go (as soon as the R/S is voted in) to pay off all short term convertible debt. I also believe it is a key goal of the new management to make sure no convertible shares ever hit market again.
We are finally on the same page!
This note was signed into effect on Feb. 26th (last thursday), our highest volume day ever. The shift in volume was probably because some of the details of this deal were leaked... but mainly IMO because Dominion and Magna (the old toxic noteholders) knew it was finally game over and time to cover. They no longer have ECIG by the balls!
Think about it people. This is not a coincidence and even more big money (the type of money that knows how to read 8ks and 10qs) will be entering tomorrow and the rest of this Month.
Yes, very good news IMO. From a quick look this note looks to be similar to the last 3 notes issued... another bridge loan to pay off the old 12% Fin Promisory Notes. The Fin Promisorry notes (the original 12% notes) which were bought by Dominion and Magna last summer, were the most toxic of our notes, and IMO the ones that wreaked the most havoc on the PPS these last few months. Due to the amount of this new note ($3 million) I think it may be fair to assume that the Original FIN notes (11 million) may now be paid in full. Some from conversions Oct - Feb and the rest with these last 4 notes issued.
A friendly financier has stepped up to help us pay off and rid our most toxic note. These new notes are clearly designed to be paid off early (without conversions) after longer term financing is established to pay off all convertible debt, which will be made possible by the R/S.
I will go through the 8k more thoroughly when I have the time and report back anything else of importance that I can find.
LOL 6% red day after 200% gains and all the trolls still come out of the woodwork. Look at the charts people, still a very nice line pointing north.
Yes the float is locking up nicely with stronger hands each day. The MMs still seem to be playing their games, walking her down on occasion to load up on more shares but this too will continue to get harder for them to do.
ECIG. Another solid day. Lets close strong!
Will have to read through the Indenture (the original loan agreement dated back in Feb 2010) to look into the conversion terms. But the reason I don't think conversions would work right now as payment is because it would require a billion shares (at our current price) to cover the 60 million owed on the 2015 notes. Currently we have less than 140 million common shares available in the A/S, so it would require a large A/S increase to make this happen.
Here is a link to the original agreement with the 2015 noteholders for anyone that wants to review it:
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7036706
Yes I know that. And the 2015 noteholders now have the option to convert shares to recover their investment. However, I do not believe they will exercise this option because this would not help them recover their investment, only drive the PPS down further. The PPS is way to low as is to be able to handle the weight of any conversions. If they were to convert it would require billions upon billions of shares to diluted into market to put a dent into the loan. This will not happen.
They will publish the financials. They have until the 31st to file. The question is will they file early (as they have in the past) or closer to the deadline. If the CFO and accounting team have been busy with renegotiating the 2015 note and/or establishing alternative financing, then I would not be surprised if we do not see the 10K till the end of the month.
Does anyone here think that it might of been the 2015 noteholder that shorted this down here? Perhaps the restructuring deal will include the shares to cover, a cash penalty, and the remainder of the note being pushed back a year or two or rolled into the 2017 note. Atleast that is my guess as to what will happen. If I am right we should get a nice recovery here.
Why did Slam have the launch party in 2011 but is still doing tastings and has not launched 4 years later? Confused. Also why can't you buy Hempcore products yet? They said they would be ready for sale in 1-2 months 3 months ago. What is the hold up here?
Yup. Nice little bounce so far. $.10's would be great!
Thanks for the reply. Guess I was reading from some other posters that earnings were expected this week. I think you are right they will probably will hold off till later in the month on this and focus on the more pressing issues at hand. Jumped in this morning with a starter of a few hundred thousand shares. If the note is restructured, which I imagine it will be we should get a very nice pay day here. Even if it is not should be ok at these prices.
Interesting to see what happens tomorrow here. Looking to get in, but it's gonna be a scary play with ER expected this week and less than 10 days to pay, restructure, or trigger default on their 2015 note.
I am really hoping they give us the entire month of March before implementing it. That way the ER and other positive news and can get factored into the price without any possible dilution (since the A/S will still be maxed). If all goes well I can see us reaching 1.00 by then and the R/S would only need to be a 5/1. This is best case scenario, but looking more and more possible each day. The next best scenario would be 10/1 at $.50 some time in April, which IMO if played properly is highly likely.
Good post and we are in agreeance with almost everything you are saying. Aside from the fact that you have been ignoring the details on the unsecured debt and the fact that the most recent convertible notes were taken on to make monthly payments on these notes. Clearly showing the importance of this debt needing to be addressed ASAP, without further convertible notes. That and the PPS has been rising because big money is getting more and more confident the the R/S will pass, and these debts will be able to be addressed with new longer term financing that the R/S will allow.
Nonsense. I will not throw the PK "R/S or Bust" line, but I will break down the detailed reasons as to why the R/S is needed from a financial standpoint, so investors (I dont give an F about traders) can make educated decisions on the vote. I am here for long term sustained gains, which will not be gained by fluff speculation that is not backed by the facts clearly shown in the filings. All true longs will agree with me. Speculation brings volatility and volatility brings more day traders and this makes it harder to keep our gains.
BE1CB. I love your confidence as of late and I think we are in agreeance that the R/S is needed... but you still need to read the 10Q more thoroughly to better understand our financial situation. 85% of the $26 million in senior debt has been restructured. But there is still around $30 million in non senior debt that has yet to be restructured, a large majority of which is due in monthly payments. The last 8ks explain the dire financial situation very clearly if you take the time to study them along with the last 10q. These new convertible notes were taken out to make the monthly payments on the FIN and VIP notes (these have not been restructured).