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Link?
At least you didn't hold
Multilevel Marketing Sweat Shop https://thestreetsweeper.org/undersurveillance/Ominto__OMNT____Seven_Reasons_We_re_Not_Buying
I tend to agree, but this one is really egregious and there's been no response from the company.
I'm usually not a fan of these, but the company has not responded at all. There's definitely something rotten in Denmark.
1. SPNC has serious disclosure related issues including
SPNC did not disclose 12 recent patient death allegations by medical professionals “against” SPNC devices
FDA alleges SPNC deliberately withheld adverse event reports from the FDA
Unacceptable surgeon injuries – SPNC laser device emits accidental radiation and causes “burns to the gown, glove and finger of physician”
2. PNC did not disclose the largest recall in SPNC history in November 2016
3. Stellarex pivotal clinical data is “worst-in-class” for both primary efficacy and primary safety measures
4. Further analysis of primary efficacy measure shows competitors’ clinical data outclassing Stellarex by a factor of 16X and 9X, Stellarex really is “worst-in-class”
5. SPNC data-mined non-performance related demographic “differentiators” and successfully sold a flawed narrative to the street, our experts claim differentiators are trivial and highly unlikely to impress the FDA or cause hospitals to choose Stellarex
6. Medtronic, the DCB market leader, recently dropped its estimate of the worldwide DCB market by 23%, while SPNC’s industry forecasts became even more aggressive
7. Stellarex sales have failed in Europe, the only market it is approved in, supporting our view that projections of U.S. sales, if Stellarex is approved, are wildly inflated
8. A closer look at clinical data suggests “fortuitous flattening” or “manufactured data” was the difference between success and failure of the Stellarex Pivotal Trial
9. SPNC discloses its promotion of the AngioScore product included assumptions that were “materially inaccurate” and that these material inaccuracies may occur again – specifically mentioning Stellarex
10. Recent commentary by sell-side analysts highlights “” and “flat to down performance”
11. SPNC likely requires $100M+ in new capital but is already highly levered with over $300M in debt – a dilutive equity raise would crush the stock; daily liquidity is just $9M
12. Short term price target: $8 (70% downside)
Our research included interviews and in-depth analysis of various issues included in this report by 6 experts in fields relevant to the content in this report. We advise all readers of this report to read the biographies provided in Exhibit 5 to this report.
Please see SkyTides entire report here. https://geoinvesting.com/skytides-research-spectranetics-corporations-stellarex-price-target-8/
I would short this if I didn't think they have a real shot. Guy has done it before.
They're committing fraud, that's what they're doing.
Diversification my friend. Diversification.
Units are ripping! Highest they've been since the deal. I think we may break 11 here. Loading up on some more.
I'm still not sure. I think take the offer with 30-50% of the units, and use the rest to hedge. The thing is that I think the offer needs 90% approval, and I'm not sure how everyone else is playing it.
It's a win/win. The question is how much they win. If they take the offer and the stock runs, they'll make a fortune. If they don't take the offer, they'll still make a nice return, even if the stock doesn't run up.
It's an interesting twist. If it goes through then it'll be a HUGE boost to the common (despite what people are saying. It would have been much worse.) The units are still better, so I'd hold on to them. If the deal doesn't go through than basically the company will belong COMPLETELY to the unit holders.
Either way units are king here. I don't see any reason to hold common when the units are easily purchased at a discount to the current common listing.
I think a reverse split is inevitable. The company must do it in order to satisfy the unit holder's conversions. I don't see how they'll get around that.
Yes! I think it's the only reasonable thing to do.
Glad to See Liquidity and Price Both Rising
See
Symbid Whitepaper: Higher Rates, Higher Risks: http://buff.ly/1McQVwP Learn why we think #crowdfunding is on an unsustainable course. $SBID http://www.otcmarkets.com/stock/SBID/quote
Symbid Whitepaper: Higher Rates, Higher Risks: http://buff.ly/1McQVwP Learn why we think #crowdfunding is on an unsustainable course. $SBID http://www.otcmarkets.com/stock/SBID/quote
Symbid Whitepaper: Higher Rates, Higher Risks: http://buff.ly/1McQVwP Learn why we think #crowdfunding is on an unsustainable course.
Love this. Inching up on $.50 Price target is .75 for me.
The Units are preferred shares. No one can take over the company without their permission. Even without the preferred aspect, there are more common shares in the preferred listing than in the common listing.
They can be converted whenever you want up to 5 years. They do not convert automatically.
It's not less toxic, but any shareholder of the common can buy units as well. So instead of being diluted by the investors, you can be the one holding the toxic paper.
It's actually completely different from the pretty toxic financings, because in this case the warrant is listed! Meaning even retail investors can get a piece of the desk by buying the units. In fact, you can get them for cheaper than the accredited investors. They bought in at $11.00, it's now trading at $9.75. I've been scooping up as many as I can afford.
VPCOU will cease to exist. The shares that are currently held in VPCOU will switch over to VPCO. If you think Vapor Corp Will do well, then invest in units, not common. You get a much better piece of the company, you sit higher on the cap table, and you have over 100% downside protection on your investment.
The units CONTAIN 40 million shares. That's already out there just under another listing, but they are common stock shareholders just like you. In addition, there are 80 million warrants at a BARE MINIMUM there will be 120 million shares coming to the market AFTER 6 months. The real kicker is that the warrants reprice as the stock goes down. So... If the stock is at .50 in 6 months, then there will be 174,400,000 shares coming to the market from the warrants. It's conceivable hat much much more shares will convert if the stock price is lower.
If you like this company, then buy the units, NOT the common. The units are much higher on the cap table. They only have advantages. There's no reason at all to buy common.
Your math is a bit off as the warrants don't convert to Condon at a dollar, rather at .67 at the current market. So in reality it'd her closer to .22 cents a share, but you've got the general idea. Unless they come out with incredible earnings, they will have to do a reverse split.
Why are you unsure? It's explicit in the filings. It can't get any clearer. I'm buying as many as I can. See http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001493152-15-003207%2Etxt&FilePath=%5C2015%5C07%5C28%5C&CoName=VAPOR+CORP%2E&FormType=8-K&RcvdDate=7%2F28%2F2015&pdf=
Once exercisable, holders may exercise the Series A Warrants by paying the exercise price in cash or, in lieu of payment of the exercise price in cash by electing to receive a cash payment from the Company equal to the Black Scholes Value (as defined below) of the number of shares the holder elects to exercise, referred to herein as the “Black Scholes Payment”; provided, that the Company has discretion as to whether to deliver the Black Scholes Payment or, subject to meeting certain conditions, to deliver a number of shares of our common stock determined according to the following formula, referred to as the Cashless Exercise.
Total Shares = (A x B) / C
Where:
? Total Shares is the number of shares of common stock to be issued upon a Cashless Exercise
? A is the total number of shares of common stock with respect to which the Series A Warrant is then being exercised.
? B is the Black Scholes Value.
? C is the closing bid price of our common stock as of two trading days prior to the time of such exercise.
As defined in the Series A Warrants, “Black Scholes Value” was determined based on the Black Scholes Value of an option for one share of common stock of the Company at the date of the applicable Black Scholes Payment or Cashless Exercise, as such Black Scholes Value is determined, calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the closing bid price of the common stock of the Company as of July 23, 2015 (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of the Series A Warrant as of the applicable Black Scholes Payment or Cashless Exercise, (iii) a strike price equal to the exercise price in effect at the time of the applicable Black Scholes Payment or Cashless Exercise, (iv) an expected volatility equal to 135% and (v) a remaining term of such option equal to five years (regardless of the actual remaining term of the Series A Warrant).
One small but vital correction: the units convert into a MINIMUM of 10 shares, but the warrants can convert into much more than 20 shares. At the current stock price of .61, they convert into 36 shares. (21.80/stock price is the number of shares that they're convertible into)
Now I think YOU'RE trolling. The units were done at $11.00 didn't you see the 8k?
Thanks! You too.
Everyone is in at 11.00. Why would anyone sell at these levels? I don't understand why any would trade at this price. Maybe the smaller investors are getting margin calls on the market decline.
THE UNIT LISTING ENDS IN 6 MONTHS.
Absolutely not. Why do you think so?
Yes! that's why you should buy the units. That way you're on the right side of the dilution.
Long story short: common stock is screwed, units now own the company. Units will dilute the common down to nothing. Sell common and buy units.
For perspective: the units have a market cap of ~40 million. The common listing is at 5 million. That's without dilution. Units have very attractive, almost risk free terms.
No, no, no! It's 20 dollars that you can redeem at the prevailing market. You don't redeem it all at once. You take out a little at a time. Yes, the market may drop 10-20% on the day that you redeem it, BUT your margin is well over 60%. Do you follow?
That is correct. I don't follow...
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001493152-15-003121%2Etxt&FilePath=%5C2015%5C07%5C23%5C&CoName=VAPOR+CORP%2E&FormType=S-1%2FA&RcvdDate=7%2F23%2F2015&pdf=
We are offering by this prospectus up to 3,800,000 units, with each unit consisting of one-fourth of a share of our Series A Convertible Preferred Stock convertible into 10 shares of common stock and 20 Series A Warrants each exercisable into one share of common stock (the “Units”). The Units are being offered at a price of $[_____] per Unit. The Units, the Series A Convertible Preferred Stock and the Series A Warrants will not be certificated.
The shares of Series A Convertible Preferred Stock and the Series A Warrants will automatically separate six months after the date of this prospectus. However, the shares of Series A Convertible Preferred Stock and the Series A Warrants will separate prior to the expiration of the six-month period if at any time after 30 days from the date of this prospectus either (i) the closing price of our common stock is greater than $[_____] per share for 10 consecutive trading days (a “Trading Separation Trigger”), (ii) the Series A Warrants are exercised for cash (solely with respect to the Units that included the exercised Series A Warrants) (a “Cash Warrant Exercise Trigger”) or (iii) the Units are delisted (a “Delisting Trigger”) from the Nasdaq Capital Market for any reason (such earlier date, the “Separation Trigger Date”). We refer to this separation prior to the six-month period as an Early Separation. The Units will become separable: (i) 15 days after the Trading Separation Trigger date or (ii) immediately after the Series A Warrants are exercised for cash (solely with respect to the Units that included the exercised Series A Warrants) or a Delisting Trigger. In the event of an Early Separation, the Preferred Stock will become convertible into common stock: (i) immediately upon the separation of the Unit if a Trading Separation Trigger or a Delisting Trigger occurs, or (ii) on the six month anniversary of the date of this prospectus (unless an earlier Trading Separation Trigger or Delisting Trigger occurs) on the occurrence of a Cash Warrant Exercise Trigger.
Each one-fourth of a share of Series A Convertible Preferred Stock will be convertible at the option of the holder into 10 shares of common stock upon the separation of the Units, provided that upon a Cash Warrant Exercise Trigger the Series A Convertible Preferred Stock will not be convertible until six-months after the date of this prospectus (unless an Early Separation occurs due to a Trading Separation Trigger or Delisting Trigger). The Series A Warrants have an exercise price of $[_____]. The Series A Warrants will expire on the fifth anniversary of the date of this prospectus. This prospectus also covers the shares of common stock issuable from time to time upon the exercise of the Series A Warrants or the conversion of the Series A Convertible Preferred Stock. This prospectus also covers the Units and underlying securities issuable upon exercise of the unit purchase option to be issued to the underwriters.
see page 55 and page 56.
Warrants Included in the Units Offered Hereby
In connection with this offering, we will issue as part of the Units shares of Series A Warrants to purchase shares of our common stock. The Series A Warrants will separate from the preferred stock and be exercisable upon the separation of the Units, provided that the Series A Warrants may be exercised for cash at any time after 30 days from the date of this prospectus, which exercise shall cause a Cash Warrant Exercise Trigger. The Series A Warrants will terminate on the fifth anniversary of the date of this prospectus and have an exercise price of $[_______] per share. The exercise price and number of shares of common stock issuable upon exercise is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our common stock and the exercise price.
There is no established public trading market for our Series A Warrants, and we do not expect a market to develop. We do not intend to apply to list Series A Warrants on any securities exchange. Without an active market, the liquidity of the Series A Warrants will be limited.
Cashless Exercise Provision. Holders may exercise Series A Warrants by paying the exercise price in cash or, in lieu of payment of the exercise price in cash by electing to receive a cash payment from us (subject to certain conditions not being met by the Company) equal to the Black Scholes Value (as defined below) of the number of shares the holder elects to exercise, which we refer to as the Black Scholes Payment; provided, that we have discretion as to whether to deliver the Black Scholes Payment or, subject to meeting certain conditions, to deliver a number of shares of our common stock determined according to the following formula, referred to as the Cashless Exercise.
Total Shares = (A x B) / C
Where:
? Total Shares is the number of shares of common stock to be issued upon a Cashless Exercise
? A is the total number of shares with respect to which the Series A Warrant is then being exercised.
? B is the Black Scholes Value (as defined below).
? C is the closing bid price of our common stock as of two trading days prior to the time of such exercise.
56
As defined in the Series A Warrants, “Black Scholes Value” means the Black Scholes value of an option for one share of our common stock at the date of the applicable Black Scholes Payment or Cashless Exercise, as such Black Scholes value is determined, calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the closing bid price of the Common Stock as of the date of this prospectus, (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of the Series A Warrant as of the applicable Black Scholes Payment or Cashless Exercise, (iii) a strike price equal to the exercise price in effect at the time of the applicable Black Scholes Payment or Cashless Exercise, (iv) an expected volatility equal to 135% and (v) a remaining term of such option equal to five years (regardless of the actual remaining term of the Series A Warrant).
The shares of common stock issuable on exercise or exchange of the Series A Warrants will be duly and validly authorized and will be, when issued, delivered and paid for in accordance with the Series A Warrants, issued and fully paid and non-assessable. We will authorize and reserve at least that number of shares of common stock equal to the number of shares of common stock issuable upon exercise or exchange of all outstanding Series A Warrants.
The Series A Warrants will not be exercisable or exchangeable by the holder of such warrants to the extent (and only to the extent) that the holder or any of its Affiliates would beneficially own in excess of 4.99% of the common stock of the Company. For purposes of the limitation described in this paragraph, beneficial ownership and all determinations and calculations are determined in accordance with Section 13(d) of the Exchange Act and the rule and regulations promulgated thereunder.
If, at any time a Series A Warrant is outstanding, we consummate any fundamental transaction, as described in the Series A Warrants and generally including any consolidation or merger into another corporation, or the sale of all or substantially all of our assets, or other transaction in which our common stock is converted into or exchanged for other securities or other consideration, the holder of any Series A Warrants will thereafter receive, the securities or other consideration to which a holder of the number of shares of common stock then deliverable upon the exercise or exchange of such Series A Warrants would have been entitled upon such consolidation or merger or other transaction. Notwithstanding the foregoing, in connection with a fundamental transaction, at the request of a holder of Series A Warrants we will be required to purchase the Series A Warrant from the holder by paying to the holder cash in an amount equal to the Black Scholes Value of the Series A Warrant, as described in such Series A Warrant.
The Series A Warrants will be issued in book-entry form under a warrant agent agreement between Equity Stock Transfer as warrant agent, and us, and shall initially be represented by one or more book-entry certificates deposited with Equity Stock Transfer.
The stock price is not the reason why you should buy units. The units are worth over $20 in 6 months. The price is completely irrelevant. The cheaper you can get the unit, the more money you'll make when it splits. The common will keep going down. There will be an ENORMOUS number of shares converted from the warrants.
Why wouldn't you? You get common anyway if that's what you want, PLUS you get downside protection for more than 100% of your investment. Why wouldn't anyone buy units over common?