Jul 24, 2014 (eTeligis.com via COMTEX) -- DAVIE, FL , United States, via eTeligis Inc., 07/24/2014 - - Vapor Group, Inc. (OTCQB: VPOR), (the "Company", "Vapor Group"), announced today that its Board of Directors had approved on July 22nd a reduction in the total number of authorized shares of its common stock from two (2) billion to one (1) billion shares.
Dror Svorai, President and CEO of the Company stated, "Several of our shareholders have expressed concern over the large number of shares of common stock that we could issue over time. We are delighted to announce that we have decided to immediately file an amendment to our Articles of Incorporation reducing the number of authorized shares of common stock to one (1) billion from two (2) billion that is, we are cutting it in half. Over time, we will re-evaluate the number of shares of common stock authorized, and if we can cut it further, we will. We believe that this change represents a reduction in the amount of dilution that can impact our shareholders."
He added, "This change also represents our continued review and evolution of our corporate structure and overall business strategies which is part of a major long term expansion of our business."
