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Understood on the misreading of the 10Q. We all make mistakes in our lives.
I also believe both acquisitions will be announced at the same time and that is the cause for the extended delay in closing.
Agree. Being familiar with bank salaries and the new hire's bank positions previously held, I would guess her salary to be in the high five figure amount. Certainly not a salary justified by the current company, but for a much larger company.
Any comments on the PR this morning. Looks like things are moving forward.
Has anyone noticed that notification has been released advising late filing of the Q. Strange board here.
A large number of the outstanding notes were issued in March for what I believe was acquisition expenses. The CEO has said that they will capitalize the new acquisitions as well as the expenses for the same. They will be paying off all debt of the acquired companies as well.
A couple of thoughts for your take on them as a CPA.....Do you think there is a possibility the lender could be advancing long term funds to pay off the notes used for acquisition expenses? We agree that it has taken a long time to close a deal. I am now wondering if one of the stipulations may be the acquired companies be debt free prior to closing.
Thanks.
Refer to post number 9131 for information on the notes.
Like it or not, facts are facts and I believe they are outlined in post number 7025. The actual date for the closing of the acquisition is to be determined, often these delays are outside the company's control.
When the financing for the acquisition is resolved, this stock will again will be quite impressive.
Not a crystal ball, just plain facts. Check it out for yourself.
It is still there, shows you sold 10-11 days ago. It does not show on your stock list. You may want to clear that up, although it is no big deal.
I think post number 7025 explains the current status very well.
I believe I saw on "my stocks activity" you removed OCLG last week or the week before. Have not seen you around the last several trading days. Flipping?
Buying again today, eh?
On January 16, he said "within 45 days". I consider that to be a timeline.
It could be he recognized setting a timeline on a pending acquisition was a mistake. If so, he is not going to do it again.
Next scheduled PR would be the end of April, it being the 10Q financials. It does not mean something unscheduled could come up in the interim such as an acquisition being finalized.
On January 26 when similar news was released, the stock volume and price did not react until the next day. Volume on Friday,. January 23 was 7,310,541, 26th 6,648,594 and 14,845,350 on the 27th. Closed at 0068 on the 26th and 0094 on the 27th.
It could have something to do with the dissemination of the news. You will note that it isn't on Ihub. I wonder how limited it is overall?
Google Roy Wayne Erwin or Wayne Erwin for an employment history background. He joined this company in mid 2013 and the progress of the company since then has been quite impressive. This is the first OTC company he has been involved with and his past experience and achievements have been very impressive and is showing in the operating results of this company.
Not the run of the mill OTS CEO, however, it doesn't make him a saint either.
I thought that was obvious. I'm with you.
It does not do too much for the credibility of the CEO if convertible notes are not paid and allowed to convert after putting out a special PR less than a month ago saying he was confident that the remaining notes of 65k would be paid prior to maturity.
Agreed on most recent announced letter of intent. An 8k will be filed when (if) the transaction is completed.
That information is pretty much dated. The 8k announcing the completion of the acquisitions was filed October 2, 2014.
Thanks for the correction.
March 3. Extension due no later than March 18.
LYN...I checked the SEC site and found that the 10K filing is due March 3 and the late filing is due March 18. Also the statement of ownership (13g) filed today is a SEC required filing due annually by a date in February.
March 15.
Read the company's press release of January 6. It is more like April 1, 2015.
ST...great call on the major distributor being located in the Northeast states!
After reading your post and rereading the press release of December 12 (VPOR launches private label program for dispensaries in Colorado), I have concluded that the agreement mentioned by you has been executed and has not been announced separately due to the terms of the agreement.
Thank you very much for sharing your DD.
That is not the point. He said the ENTIRE debt could be paid by mid 2015.
You don't consider the Hanover notes debt? Read the November 17 press release to shareholders.
The following is from a post by cjeff (32235).
"You really shouldn't use price to earnings as a metric for a company like VPOR. VPOR is a rapid growth company and often re-invest their gross profit into the business for expansion, so their net profit will often be negative.
I think it is more appropriate to use price to sales. I've looked at as many competitors as possible in the ECIG business and most are around 20-40 price to sales. a high growth company can trade at over 50 price to sales, quite often."
That was the agreement with Hanover only. Currently Hanover is in a holding period.
Has anyone noticed ECI* and MCI* trading today. Scams all over the sector, right? Last I knew, the wolfpack loaded up on ECI* Friday. If so, they are taking a 45% hit today.
Eci* is also being diluted by a large number of stock options vested at an exercise price 0.25.
Try post no. 48527 for the link.
Following is an excerpt from the latest PR. My interpretation of this would be the intent of paying the outstanding debt from revenues rather than converting to stock. Of course I could be wrong.
"We believe by mid-2015, we will be able to reduce our current debt burden significantly and perhaps even eliminate it entirely, AS A RESULT 0F THE CONTINUED ACCELERATED REVENUES THAT WE ARE PRODUCING MONTH TO MONTH."
Thank you. Perhaps the company will be able to pay them off prior to expiration of the holding period?
Not including the Hanover notes, does anyone know if there is a holding period before conversion on the most recently issued notes?
The 8% notes may be convertable whereas the 18% note is not. There is a difference in pricing.