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I would imagine they have an institutional lender waiting in the wings to assume some of these notes contingent upon the R/S passing. And based on the 8K looks like they already know it is a done deal.
Your post is not factual. The notes are for a three month period, which at the end of the three month period unlike the prior convertibles, can be paid off in cash upon managements discretion. More then likely Oneill is waiting until the R/S is approved and have already lined up longer term notes at favorable financing terms.
Deal was drafted when the price per share was at 5 and 3 respectively, 8K is just coming out now. The 28,000,000 shares they are guaranteeing can only be if they already knew the R/S is a done deal.
Most pennies have no inherent value, little or no sales, just a dog and pony show. ECIG definitely does not fit that mold, with outstanding growth and revenues in a sector that is growing like crazy. This stock has been shorted down by debt holders so that the difference between the price per share and true value is very skewed. Perhaps you missed that? I have invested in many companies that have been shorted to oblivion and always make money, this one will be no different. The difference with ECIG is I am willing to invest and hold for a year or longer.
Always do! Good advice.
If this breaks the .15 support level, I am loading more shares tomorrow.
Doubt we see 15's again, going to be allot of buyers tomorrow morning early, bet we open higher then 17 and don't look back.
Hey Apostle, yes apparently people just don't know what they have here. I have been trading stocks for some years and have bought companies like EL... in 2000 when it was hit with an SEC investigation and bottomed at $1.30 per share,watched it run two years later to $29.00 a share. This one has more potential then any stock I have seen in years.
BTW, I wonder if the peeps that sold are calculating their short term capital gains into the equation? 39 percent capital gains taxes on stocks that are held less then a year. Goes to 15 percent after one year, just don't see when I add everything up where it is a win, win to sell now unless a person just doesn't understand the potential of what we are holding or desperately needs the cash.
Been commented on many times, tell me another company that will match ECIG's 80 million in sales for 2014? (50 million in sales 4th quarter has been verbally communicated although not substantiated) But enough people have heard that number from management to seem to back that up) Also projections I have heard is roughly 200 million in sales for 2015. We will see when they release 4th quarter numbers and guidance for 2015.
Agreed, I have not flipped one share since I bought, only added. Not planning on selling for a year at least. ECIG has so much potential it is crazy. Just look at all the VAPE stores opening up everywhere! Industry is just getting started, 12 billion industry projected by Goldman Sachs in 2017, and we are riding the biggest horse in the sector. Foolish to sell out for peanuts.
Hey Apostle, concerning your PM,Bet today was an eye opener for him!!! Great day for all longs!!!!!! In here for the long haul so looking for much more, great to be in a stock that has so much short and long term potential.
Don't have PM, but I had the same thoughts you did this morning.
So you believe Mr. Oneill would accept a position in a company without belief that he had control of the outcome? Don't believe that for a minute, and doubt too many people would buy into that reasoning.
PK, I think you are overreacting... there are several who hold significant share amounts who have voted yes for the R/S and no for the A/S increase. I have one million shares myself and voted yes R/S and no A/S. And what about the news that you have been touting for weeks now that will be imminent? You will sell before it comes out? Well if that is your decision GLTU, but there will be buyers lining up today to buy those shares. Do you honestly believe that a guy with Dan Onell's credentials would not have a plan B, if the R/S vote didn't pass?
Don't have PM, but done.. thanks!
I am sure they would be happier with a larger contingent of the shareholders voting Yes to show support for the company then barely passing. If they were concerned about the vote not passing I am sure they would put out a PR addressing shareholders concerns. If the reverse split didn't pass and it is as they say a death blow to the company, wouldn't you?
Agreed, since the R/S is so crucial for ECIG, they would have addressed the shareholders recently if it was in danger of not going through. I too believe ECIG has the votes necessary to pass it and will release a PR at the time when it will do the most good. With the locked float the pps is going to continue to appreciate as we move nearer to the vote deadline.
At 9:20 in the morning the bid matters only if there are sellers at the bid. Otherwise better hit the ask!
If the whales continue buying this stock like we have seen in the past few days, the rsi is meaningless
ECIG is a different animal, while corrections are healthy I wouldn't want to sell today. Oneill's first day on Monday, possibility of a big PR out pre market. Too much upside for ECIG to attempt to sell and re enter again. Risky in my opinion, selling one minute and chasing the next.
Makes sense, I believe you could very well be right. At this point I just don't like to take a chance of a pullback. But your logic makes perfect sense. GL on all your trades.
Understood, to each his own. Normally I would also take profits.. this one is just different than any other's down here at these levels. Looking for a huge pay day in the future, and won't flip one share.
After your capital gains tax, you profited around 9k. Cashing out and not holding this stock for a year cost you big time in taxes. Nearly 6K. For me I am holding this baby, for a minimum of a year... don't want to give the government such a big percentage!
Nice dime call yesterday Apostle
No problem, I didn't take it seriously when I read it. But looking at your responses, you seemed to.
You don't understand what "Satirically written" means?
I have not voted as of yet, and have been mulling over which way to vote for the past few weeks. After carefully considering the companies position, I will vote yes for a r/s with my million shares and no to the A/S.
Your niece is a little cutie!
Wishful thinking, but the pps would go nuts if they announced that they cancelled it. On another note, cant believe what a tight range this has been trading in the past half hour or so. Somebody is loading up several hundred thousand shares.
If ECIG comes out with news that they have either paid off the 15% convertible notes or reached a deal to finance that debt to long term notes then doubt if shorts will find this stock an attractive short post r/s. If the balance of the 15 percent notes are not paid off prior to a reverse split (or converted longer tern) we will see both shorting and dilution which will plummet the stock price. I am sure the new management understands this well, and am looking for some news soon on the balance of those notes.
Thanks Bruce! Done!
Thanks Ray! Done!
Why would there be selling pressure to get out of the way of the r/s at that time? First off it has to go to a vote, secondly they have until Dec. 15th to implement it. A r/s at the current pps level does not accomplish the goal of uplisting to a higher exchange. Think most reasonable investors would wait until at least after the financials come out end of March before they would jump ship.
Great!! Another reason to hope for one by Monday!
Agree 100%, when management gagged the TA everyone assumed the O/S was maxed. Obviously based on yesterday and this morning's trading action it was not. Dan wanted a higher price to dilute in and he got it. I am with you on believing that the OS count is now at or very close to maxed out.
Also agree that management will not release revenue numbers until after the R/S, they will use that to boost revenue numbers.
I get that and agree that it sure looked like there was some note holders converting yesterday. What I don't agree with is when you make dogmatic statements like "10 to 1 reverse split coming" Or statements like "There will be a reverse split"
I also think those two scenarios are very probable, but when you just make those statements without prefacing that it is an opinion, some people here believe you have some special insight from management on these matters.
I know you are a good guy, and have a strong belief in this stock as all of these longs do, it is just that some of the less experienced trader's tend to believe you have more insight from management than the rest of us, and could affect their trading.
In your opinion. PK, I have always liked you but you make dogmatic statements like it is factual, when we all know that it is not.
If it was 1/20 frankly I would be concerned. I don't see that happening though, I doubt if we see more than a 1/10 reverse split if that. With the company having the option to implement the r/s by Dec. 15th of this year I believe we wont see a r/s of over 1/5 as the price will increase organically with good year end revenues, projections, etc.
I do!!! 500,000 more of them!!!!!!!
If you look at where Brent came from he has obviously been influenced by Wal Marts growth strategy to a degree. Phenomenal growth, distribution. The problem stems from acquisitions made in such a rapid fire manner causing a stressed cash flow. Wal Mart's advantage is that when they open a new store their vendors pay for the opening inventory. In Brent's case he was purchasing companies that I am sure the inventory was part of the purchase price. He was banking on the uplist, it failed thus the toxic financing. However, those acquisitions just did not go away, they are also part of the increased sales, and distribution network, which makes ECIG much more lucrative. It's a balancing act when a company goes after so many markets at one time, cash flow, financing, must go hand in hand with new markets. I have no problem believing that Oneill is right on track with getting the financing part righted, although working against a stacked deck for now. Will be interesting to get some guidance on projected sales numbers for 2015 and see just how much revenue will be created from their market/ product expansion.
When a company is in such a rapid growth mode it is difficult to show a profit. Wal Mart didn't for several years, I am told. Their rapid expansion helped them via tax deductions on new stores, so the money saved in taxes helped to finance store startups.
I see Brent's philosophy being very similar, the team that they have assembled is very impressive with Brent's marketing strategies, and Oneill's ability to restructure debt and run a lean company.