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I think the most recent 1.3 million loan is convertible at .15, could be wrong.
Are you serious??
Literally the only thing I see on this board is pumping for FRTD.
Speaking of revenue generating events, what are they? What events will give them revenue to justify a $.05 valuation, never mind a $.2 valuation??
I'm literally not convinced they have made a single dollar.
And no I'm not a "shortie" or a paid basher, I even have a small position at a low PPS for shits and giggles. That said 99.9% chance this is a scam.
Let's just pretend I'm an idiot. What did FRTD do to earn $50 million? Someone explain.
Right, didn't realize that was post Q1. And the terms seem favorable, converts at .15.
I'm long, just trying to get the facts here. They do have a short term cash flow problem, and I assume that will correct itself if revenues rise as expected. Still, I dont want to see the O/S doubling on the next 10Q.
10Q - I mean some of this is just legal speak, but Dror is literally saying I may have to dilute the hell out of this to ensure cash flow.
"LIQUIDITY AND CAPITAL RESOURCES
At March 31, 2014, we had approximately $61,000 in cash and total current assets of $1,279,184 as of the same date we had approximately $1,590,342 of current liabilities and a working capital deficit of approximately $311,158.
Our ability to continue our business activities as a going concern including continuation of our existing business service lines and funding our strategic growth plans will depend upon, among other things, raising capital from third parties or receiving net cash flows from our existing business operations.
The Company plans to meet its financial obligations and commitments for the next 12 months by increasing its revenues and gross margin and simultaneously raising additional capital in the form of debt or equity instruments in order to continue to increase inventories and accelerate our turn on inventory. We are uncertain whether we will be able to obtain additional financing, or if we are able to obtain financing that it will be on commercially favorable terms to us. There can be no assurance that we will be able to obtain financing on terms that are economically viable to us.
To the extent that we raise additional capital through the sale of equity or convertible debt securities, dilution of the interests of existing shareholders may occur. If we raise additional funds through the issuance of debt securities, these securities may have rights, preferences and privileges senior to holders of common stock and the terms of such debt could impose restrictions on our operations. Regardless of whether our assets prove to be adequate to meet our operational needs, we may seek to compensate providers of services by issuance of stock in lieu of cash, which may also result in dilution to existing shareholders."
There is quite a bit of convertible debt, $889,620 w/ $105,273 accrued interest. This wouldn't necessarily be worrisome, but the terms on some that have already been converted absolutely sucked. Between 1/17/14 and 2/27/14 $75,000 in in convertible debt was converted to 64 million shares. It converted at $.001? Then 250,000 preferred shares that eventually will convert at 100:1. I was very bullish on VPOR, IMO the A/S is very worrisome, it was raised to 2 billion for a reason, and not that long ago.
Yes, please explain. IMO the A/S is the biggest concern here. Lot of convertibles and preferred. Add in the cash situation = dilution? I hope not, someone convince me I'm wrong.
Anyone concerned by the convertable debt? Around 900k. Dilution would not be good. Not sure what the terms are.
What is everyone's take on the 2nd to last paragraph?
Did you see VAPE's financials? There were horrible.
The product margins are extremely impressive, no one has 60% margins. But the SGA costs were pretty high. I know expansion costs money, but I'd feel better if they could provide more detailed accounts for the SG&A. Like 250k each in "General" and "Commissions". Not exactly sure what those are.
Fair enough, if they can keep the expenses under control there should be pretty good net income then. Also assuming they don't run into cash flow problems near term.
LOL. Company says there will be financials, there are no financials. Company says they will be bought out and....
Honestly what % chance do we think there is that this buyout is real?
Long term $1 would be possible. What % of market share for that 3 or 10 billion market is VPOR targeting?
I' ma big fan of this stock, but $1 pps is a bit unrealistic IMO considering the # of shares.
Why would anyone buyout this company. They have no revenues, large net loss, negative equity. What exactly is the buyer getting from this company to pay such a premium? Can any shareholder explain?
I've got no position in FRTD, that said can anyone dispute the claims of this article? As someone unfamiliar with FRTD a halt seems incredibly possible.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102201980
What makes you think the share price might double by next week? Or even next month for that matter? Certainly not impossible, but not sure its reasonable.
For what reason?
Thanks for the info. If the guidance is accurate then that's great news. Always skeptical on the pennies though.
Still, any reason for the price to start moving before Q2 or Q3 fins? Any near term catalysts to give this thing some momentum. The reaction has been mixed at best from the Q1 fins.
Yea. To me they really need to scale up the business. It seems like that is exactly what they are trying to do. A lot of expenses in Q1, seemingly related to expansion. Hopefully it won't take long to start realizing revenues from that. The gross margins are solid, 60% is great. If they can get the sales up while maintaining costs the net income will not be a problem.
Hardly an expert on VPOR though, does this seem accurate?
Commissions expenses seem high eh? And a breakdown of the General and Admin expenses would be helpful.
Liquidity might be a bit of a concern here. How are they planning to raise the cash? Or will there be substantial revenue growth in Q2?
"It is worth noting that the first quarter 2014 had some extraordinary occurrences and expenses. We merged with AvWorks Aviation Corp., and then acquired the majority interest in American Vaporizer, LLC, picking up its revenues, assets and costs. January through March we experienced significant levels of backorders meaning that there was considerable revenue that we couldn't book. In April, we undertook aggressive inventory financing in order to relieve oversold situations growing across most of our brands. Simply put, demand (greatly) exceeded supply. Now, for the second quarter, with additional inventory either in place or in manufacture, we are fulfilling and booking those backorders and meeting the continuing strong demand for our products." - Per Company PR
Sounds like FSPM sold some Pharm Pods - http://finance.yahoo.com/news/xtrm-announces-plans-develop-medical-145400315.html
Right, because Amazon, Yahoo, Google, and Ebay were all established legitimate companies before the dotcom boom.
Been following this since the $2s, gotta be the strongest company in MJ.
Strong open, 5+, maybe I was wrong.
Probably down slightly until earnings/PR release.
You got the numbers wrong. Only 1.47 mil preferred shares of which only 10% can be converted.
Pullback to $2.20? You crazy? Market cap @ $40 mil, doesn't really take a lot of sales to justify that. This thing is way undervalued. Just consider it is priced at only 10x that one $4 million sale in MA.